Psychological reciprocity is defined as, “a deep-rooted subconscious need to return effort to those who put forth effort for us”, and it’s one of the most powerful marketing tools at your disposal.
You might remember the Hare Krishna, the unusual 1970s group with shaved heads and ill-fitting robes who hung around airports seeking donations. They were masters at targeting and capitalizing on peoples’ deep-rooted subconscious need to return something to those who give you something.
The Hare Krishna followers discovered their likelihood of receiving a donation from affluent travelers increased dramatically if they first gave the passersby a rose.
The local Ace Hardware franchisee in the Midwest started a promotion a few years ago which was perfectly targeted and generated huge psychological reciprocity. They organized a massive free classic car show for local antique and classic car enthusiasts to proudly display their “toys”.
The Friday evening event is held downtown around one of their vintage-looking stores. The event is free, it’s first class, and it attracts nearly 500 classic cars of all makes and models. Of course, the vintage Ace Hardware is open for all to see. The event is extremely well organized, and you can tell that a great deal of effort and organization is required to pull it off.
Literally, hundreds of local car enthusiasts show up to share in the nostalgia and admire classic pieces of automotive history. Like all great promotions, the success of this promotion cannot be measured by the sales made that day. However, it can be measured by the image and relationship it created among the thousands of people who took the time to walk, gawk, and admire the classic cars and trucks at this event. Each and every person who attended this event, at some point in the next few months, will need something from a hardware store.
It’s a huge success and will generate increased sales for years to come for several reasons:
1.) Image. Spectators and exhibitors alike made the link between the fun and exciting event and the business that puts it on. The public has a positive image of the local Ace Hardware stores.
2.) Awareness. Although this group of Ace Hardware stores is very successful, they also know that they have major competition from the likes of Menards, Home Depot, and Lowes. Instead of resting on their laurels, they choose to put in the extra effort and continue to build on their brand image.
3.) Psychological reciprocity. Hundreds of spectators and dozens of classic car owners will remember the free event that the local Ace Hardware store organized. When those who participated and attended need hardware items, they will hopefully, subconsciously, think of Ace.
Yes, events take time and effort. But, properly executed and promoted, events not only give you immediate success, but the image, awareness, and positive feelings (Psychological Reciprocity) they create will provide continued ROI for months and years to come.
We are experts at helping businesses like yours organize and promote relevant and targeted events to generate psychological reciprocity with your prospects. At Titan Broadcasting and Digital Group, we believe our responsive, on-going communication with our clients is one of the biggest reasons why our partnerships are so successful. Whenever you need us, we’ll be there by your side to answer your questions and help your business grow in any way we can! www.titanburlington.com/contact-us/
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