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Four Easy Ways Increases Sales with The Rule of Reciprocity
Four Easy Ways to give to your buyer that will increase your sales today.
What is the rule of reciprocity? This law states in many social situations we feel obligated to pay back what we received from others. What is it that makes us want to return a favor? It seems to be in our DNA. The phrase “I owe you one” or “get you back” or maybe, “let me know what I can do for you in return” are ways we verbally commit to giving back.
What does the rule of reciprocity have to do with increasing your sales? A lot as it turns out. The buyer/seller relationship is a series of giving and receiving. The way we interact with a buyer says much about the way we sell. Do you give or receive? The give and take starts from the very first interaction.
The following are some ways to put the rule of reciprocity to work for you:
You have probably heard this before; the buyer expects to receive value. If you deliver value from the beginning, the buyer may agree to meet. Who defines value? Only the buyer can determine what is valuable to them. If you do your homework and learn about the buyer you will get a glimpse of this value.
What is insight? The ability to provide information that is new, or unseen. If you do not think you have anything new to offer, think again. In the buyer’s world, your offering is one small piece of their busy world. In your world, it is what you focus on 100% of the time. Now tell me, who do you think knows more about your offering?
Who knows more about fire safety, the person who buys a smoke alarm, or the person who sells them? The knowledge you acquire while selling in an industry can be of great value to your buyer. If you have knowledge of pending price increases, safety laws, employment laws, federal regulations, tax laws, or other events that could impact your buyer – share them. This information will help your buyer and aid you by inspiring credibility and trust.
Ever think of ideas to improve the buyers business? If you have been selling in one industry long enough you probably thought of several ways that your buyer could cut costs, increase revenue, or improve safety. Take the time to share your ideas and your buyer will view you as more than just another person looking to make a sale.
Another funny thing happens when you share ideas. The buyer may start to call you for advice when making decisions related to your field. The buyer will view you as a trusted advisor, or industry expert. This is an excellent way to ensure the buyer will be loyal even when your competitors come calling with their latest and greatest.
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