Have you ever received free shipping on your first purchase online or a percentage off a service just for trying a new company out? If so, then you have been given the gift of reciprocity – the BIG secret to winning over new customers. Reciprocity is defined as responding to a positive action with another positive action or rewarding kind actions with kind actions. In today’s marketing world, it often means offering a free bonus to consumers for certain actions they complete such as purchasing a specific product or trying a new service. Reciprocity, when used effectively, can be one of the best ways to grow a loyal customer base while strengthening your brand’s image.
The key to offering these extras is to choose ones which carry with them little to no cost. You don’t want to break the bank by giving away all your products and services for free. It is also important not to devalue your offerings by continuously lowering the cost to the consumer. Good reciprocity policies should be beneficial for both the you AND the customer.
Another significant aspect of successfully gaining the favor of new customers is the ability to know who those new customers are. There must a system in place to discern between existing clientele and those unfamiliar with your business. Once pinpointed, employees must be trained on engaging ways to interact with them. Team members should also be empowered to use reciprocity in other situations beyond the new customer experience. Existing customers with legitimate complaints and those with a long track record of loyalty need to feel valued too.
Done right, reciprocity can be a successful marketing strategy creating that great first impression every business is looking for. At GMS, we are experts in growing our client’s customer base. We develop programs that combine proven marketing methods along with your business’ unique needs to achieve success.