If you mistreat others they will do the same to you. FILE PHOTO | NMG
Psychology is a discipline that deals with human mind and
behaviour. Since the business of buying and selling has a lot to do with
human mind and behaviour, savvy entrepreneurs borrow heavily from
psychology in advancing entrepreneurial ventures.
One
of the most commonly used principles of psychology either by design or
default is the law of reciprocity. If you have ever felt a strong
persuasion to help someone who has helped you before, sometimes going
out of your way or even at the expense of others who deserve your help
better, then you have been influenced by this law.
Basically,
the law of reciprocity says that when someone does something nice for
you, you will have a deep-rooted psychological urge to do the same.
As
a matter of fact, you feel obliged to do to the person better than they
did to you. Thus from an entrepreneurial point of view, doing good to
others is a form of investment where you get more than you input.
There are two types of reciprocation: material/ financial and emotional reciprocation.
Most people focus on the former and ignore the latter which is even more powerful and easy to execute in business.
Material
or financial reciprocation is when you do something physical such as
helping a person in need, giving a person a gift, a sample of your
product, free lunch or money.
Emotional reciprocation
is where you make people feel good through exceptional service, showing
value and appreciation or simply making the other person feel important
and genuinely loved.
The
law of reciprocation is so powerful that if used well, can turn round
even an ailing business. It is a powerful unique selling proposition on
its own right.
Develop a strategy of treating your
customers and prospect well. Value your customers more than their money
and they will release their purse to you.
Take time to
stay in touch always, not only when interested in their order or cheque.
Drop them an email or Whatsapp message, call to find out how they are
doing, contribute or attend their functions and they will feel oblidged
to reciprocate.
Remember the law of reciprocity is deeply rooted in the psychological need to be even with others.
If you mistreat others they will do the same to you and get alternatives.
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