We have all heard that when you give, you shall receive and business is no exception. In business, utilizing the law of reciprocity can be tricky, but it can also be extremely effective.
Your client base is made up of a cross-section of the population. You sell to business professionals and you sell to home-bodies as well so the give and take will be different in each situation.
Give To Receive…
The law of reciprocity basically says that for every good deed you do, there will be one good deed done in response.
You can use this concept by giving away product at a party then the receiver subconsciously feels obligated to return a favor at your shows or sales demos.
Alternately, you can use this concept to create long-term relationships with others that can become quite profitable for both of you. Before you can use the law of reciprocity to benefit your business, you need to have the proper mechanisms in place to take advantage of the contacts that you make.
Network To Give & To Get
Your most essential tool in creating a relationship based on the law of reciprocity is your network of professional contacts and your customer base.
When you meet new people and develop relationships both online and off the more detailed your contact information is, the more it will work for you.
In order for you to be able to offer services to others in exchange for service that benefit your company, you need to have an active network of contacts.
When you put a business card in your card file or add a contact to your phone then just forget it, it is of no value to you.
When you cultivate that relationship and stay in touch with those contacts, then you have value to offer. The more you know about them the better you will be able to serve them.
[dswa_button text=”Sign Up for the DSWA Newsletter” url=”https://dswa.org/newsletter”]
Utilizing the concept of giving to receive something, and doing it properly means finding opportunities and matching those opportunities with your network of contacts.