Have you ever received free shipping on your first purchase online or a percentage off a service justÂ for trying a new company out? If so, then you have been given the gift of reciprocity â€“ the BIG secretÂ to winning over new customers. Reciprocity is defined as responding to a positive action with anotherÂ positive action or rewarding kind actions with kind actions. In today\’s marketing world, it often meansÂ offering a free bonus to consumers for certain actions they complete such as purchasing a specificÂ product or trying a new service. Reciprocity, when used effectively, can be one of the best ways to growÂ 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\’tÂ want to break the bank by giving away all your products and services for free. It is also important notÂ to devalue your offerings by continuously lowering the cost to the consumer. Good reciprocity policiesÂ should be beneficial for both you AND the customer.
Another significant aspect of successfully gaining the favor of new customers is the ability to knowÂ who those new customers are. There must a system in place to discern between existing clientele andÂ those unfamiliar with your business. Once pinpointed, employees must be trained on engaging waysÂ to interact with them. Team members should also be empowered to use reciprocity in other situationsÂ beyond the new customer experience. Existing customers with legitimate complaints and those with aÂ long track record of loyalty need to feel valued too.
Done right, reciprocity can be a successful marketing strategy creating that great first impression everyÂ business is looking for. At GMS, we are experts in growing our client\’s customerÂ base. We develop programs that combine proven marketing methods along with your business\’ uniqueÂ needs to achieve success.