Law of Reciprocity

One of the largest challenges facing our sales professionals is getting future clients to take our calls, call us back and most of all... get that initial appointment. Sound familiar?

Last week a friend of mine, Jeff Nelson, gave me a lecture on marketing and schooled me on the "Law of Reciprocity." Simply put...

"The Law of Reciprocity states that when you give something of value away for free the recipient is grateful and feels obligated to give you back something in return."

David Frey, Author of the Small Business Marketing Bible

In another book that Jeff let me borrow there was a story about a man who was giving away a bottle of Coca-Cola and asking for the recipients to purchase raffle tickets in return. In some cases the recipient was purchasing two raffle tickets when asked in return for the bottle of Coke. Not a big deal right... the interesting fact is that at the time, a bottle of Coca-Cola was a dime and the raffle tickets were 25 cents. Thus the "premium" was garnering a 500% return!

The key seems to be giving away the premium before you ask for reciprocation... how much would you spend on a premium knowing that you could recieve a 500% return? I'm on board for $20 or $30!

Perhaps your company is already trying this marketing technique, it's pretty basic marketing 101, but I'd love to hear how it is working! Email me at tomk@closemoresales.com.

TK