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Read time: 3.5 minutes ββ βπ€ Did you know...
On July 11th (aka 7/11) you can get a 7.11 ounce Slurpee from 7-Eleven for free.
In theory, this marketing stuntβgiving away 4.5 million Slurpeesβshould cost 7-Eleven millions.
Yet sales were up 38% during the campaign.
Why?
Today we explore reciprocity and, who knows, we might just convince you to embrace your generous side.
Let's dive in...
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Imagine thisβ¦
Youβre scrolling and *ping*βyou get an email.
You start reading.
Your coworker, the annoying one who is always trying to one-up you in meetings has baked cupcakes.
βJust to let everyone know, Iβve baked some cupcakes and put them in the kitchen.β
Translation? βIβm a big suck-up who wants a promotion.β
You head over to the kitchen to grab a cupcake.
And these arenβt just any cupcakes. These are chocolate-covered, melt-in-the-middle, perfectly presented, and totally gobble-worthy cupcakes.
Eurghhh⦠why are some people just so good at life?
A few hours later said coworker pops by your desk and asks for your help.
He needs ten minutes to run through a presentation.
Usually, youβd brush him off but he did just make you the best cupcakes youβve ever tasted.
Why do you find yourself sitting down, ready to listen with a notepad in hand?
In todayβs edition of Why We Buy π§ weβll explore Reciprocityβwhy we feel compelled to return favors.
Letβs get into it. β
π§ The Psychology of Reciprocity
Ever notice you feel obligated to do something if somebody does something for you?
Dr. Robert Cialdini describes the principle of reciprocity with an unusual study aboutβof all thingsβmints.
Picture this: a busy restaurant, diners filling the tables, and the bill comes alongβ¦
When diners were given a free mint with their bill, the waiterβs tip increased by 3%. Not bad.
When the diners were given 2 mints, the tip increased by 14%. Okay⦠interesting.
But (and hereβs where it gets weird) when the waiter gave the diners one mintβand a few seconds later returned in a fluster with the secondβthe tip increased by 23%.
Shut the front door.
The TLDR? Small *free* gifts go a long way.
π€ How To Apply This
Alright, so how can you apply this right now to sell more? β
E-commerce
Go the extra mile with a *small* free gift
Kylie Cosmetics is a behemoth of a brand.
With retail sales topping $221.8 million (and thatβs in a down year). Clearly, they are doing something right when it comes to building a product people buy.
This year they ran a 40% off Black Friday sale and do you see the small print? βFree gift with your orderβ. A little giving goes a long way.
Partner campaigns
Partner with bigggg influencers known for their generosity
Most tech companies know one thingβyou need to use the software to like the software.
How do you get people to use something theyβve never tried before?
Shopify partnered up with Chief Giveaway Officer (CGO) Mr Beast and offered $10,000 to 10 people with the best business ideas. The result? A cool 6.2M views.
And no doubt of the millions of people that saw it, a proportion converted into paying customers. Beautifully done, Shopify π β
Service Businesses
Solve a *pre-sale* pain point with a freebie
Before deciding to buy, many folks have questions.
If your bread and butter is service-based you should ask yourself, βWhat pain points do my customers have *before* they come to me?β
Just like John the Plumber. He offers a simple *free* water testing service.
It means he builds his reputation with customers and when they have a plumbing problem, who do you think they call? You guessed it, John.
Small gestures like make sure you remain top of mind for potential buyers. β
π₯ The Short of It
Giving is good for business.
Itβs a win-win: your customer gets something extra and you get increased loyalty.
Business is all about building relationships with customersβyou can start building that relationship with a freebie.
π¦ Your Brainy Tweetable β
Underestimated marketing strategy: Give away free stuff.
- Free products
- Incredible free content
Reward your customers *before* they purchase and theyβll feel compelled to reciprocate.
βTweet this now >β
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Until next time, happy selling!
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P.S. Wanna really get inside your buyerβs head?
When you're ready, there are a few ways we can help:
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