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increasing the chance for future cooperation. So, by offering added value to new customers, you are opening the checkout or till towards a more fruitful relationship with them. What’s important to understand about the inclination to want to give back, is that it’s often most persuasive when the recipient feels that the gesture is sincere in its attempt to show appreciation and that there’s no expectation of a return gesture. Fortunately, with digital marketing, it’s easy to generate subtle reminders!
For the Reciprocity Principle to have maximum effectiveness, the customer’s perception of your offer should be that it is provided to them based upon their individual preferences or purchasing profiles. Alternatively, allowing customers to select their own ‘added-value’ will enable them to almost ‘self-optimise’ the process to take advantage of the offer that best suits them.
Giving customers a gift that benefits their lives outside of the relationship with your business, or the use of your product, will have a much higher perceived value. Any outreach that is overly geared towards the purchase of more products, without a clear benefit to the customer’s personal situation, will only drive short-term gain or causes it to be ignored completely. In comparison, providing an experience that your customers will remember, imprints both value and creates a crucial human touch to your brand.
The beauty of the Reciprocity Principle is that you don’t have to initiate it in-line with massive discounts; it simply requires a thoughtful, bespoke strategy. Membership rewards cards offer a low-cost way of delivering added-value that customers can enjoy all year round in a multitude of ways that best suit their preferences. Rewards can also be customised to align with each unique customer segment, product, or
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service. Such an approach significantly enhances the psychological effect of customer loyalty through reciprocity. It extends the life of the relationship with the customer well beyond the initial transaction, as they are regularly reminded of a positive experience with your brand.
In essence, Black Friday discounts are quite simplistic in their approach to customer loyalty, whereas value- adding to the customer experience makes continuing a relationship with them less challenging. Subsequent outreach via an email campaign or other marketing activity is more likely to generate interest. Just make sure to provide simple options for the customer to recommend you to their friends, write a review, or make a subsequent purchase. The Reciprocity Principle’s psychological effect will make them want to do it and encourage customer engagement, loyalty, and repeat sales.
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