hello, there, it’s christian youngren with kaizen automotive, consulting bringing you more best automotive practices, it’s christmas time and it’s the season of giving.
So that’s what i want to talk to you today about giving giving back to your client now, not only for that good, warm feeling that giving brings about, but also how we can use giving.
We can use the rule of reciprocity reciprocity, biased to help leverage more sales opportunities in the following years to come.
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Okay, let’s go to work today.
I want to talk to you about the power of reciprocity and reciprocity, biased and how we can apply it in automotive sales, real estate sales insurance or really any business to business.
Any type of sale that brings about a high ticket item is a high ticket item service or sale.
This reciprocity law works really well.
So, let’s start off by learning more about what reciprocity is, so reciprocity describes a social rule in human culture that puts an importance on repaying another person with an action or gesture by doing either the same thing or something equivalent action form or value.
So if that’s reciprocity, then reciprocity biased is as follows: it’s a small favor, a gift, some type of a concession, that’s given to you and you have this sense of social obligation.
This strong sense of obligation to repay that person with a like favor concession or gift, or as brian tracy likes, to put it, you do something nice for me and i’ll do something nice for you now one of the powerful parts about this reciprocity bias is it’s Pervasive throughout society, whether it’s bangor maine or whether we’re in china or we’re in the philippines, this reciprocity bias it’s in effect, wherever you go.
One of my favorite studies that illustrates the power of reciprocity and sales comes from the restaurant industry, the restaurant industry.
They wanted to measure will tips increase when a gift.
In this case, a mint is presented at the time of the bill being given to the guests, so what they did was they provided one mint for each one of the people, seated at the table when the bill was presented and what they found out in the Study was it increased tips by three percent? Not that big of a gain.
However, when they increased the gift, the mints to two minutes, two minutes per person.
Seated at the table, it went up to 14, so it increased tips by 14.
Now we’re talking but check this out when the server went ahead and presented everybody at the table with one minute and then gave them the bill and then stopped walked away for three or four feet and then turned on a dime and swung back and said.
You know what, for you, fine folks, i’m gon na go ahead and give you guys all another mint when they did that tips, increased 23 percent, that’s 23 bucks for every hundred dollars spent.
Now that’s a pretty good game.
Now there are three key factors that give reciprocity bias its power and it helps make it more effective and helps really make it stick, and those factors are as follows: number one somebody has to go.
First, somebody has to start the giving somebody has to start the reciprocity.
So in this case it was started by the server.
The server went ahead and provided a mint now, the second factor, the second key factor is, it needs to be unexpected.
It needs to be something that they’re not going to normally get.
They typically are expecting just to get a bill at the time when your server comes back, and in this case they got a min now.
Third, the third factor that’s huge and, as it needs to be personalized, if it can be personalized, that’s really going to give its power.
Now it became personalized in a restaurant study when the server stopped turned around and walked back to the table and said for you, fine folks, here’s another mint that personalized it made everyone at the table feel special and that, like they were the only ones getting this Extra benefit: that’s what gave the reciprocity bias its power in this situation and that’s what increased tips by 23 now, if you’re in any type of high ticket item type of sale, you’re, probably thinking to yourself at this point christian, my guests are going to want a Little bit more than a mint or i’m going to feel kind of silly walking in with a couple minutes, and i get that also you’re, probably thinking well at this time.
I don’t know if i can buy a personalized gift to every one of my guests.
I mean i just don’t know if that’s feasible.
Well, i gotcha i’ve got an idea that covers you and it’s personalized, it’s unexpected and it starts the gift giving and that’s a bonsai tree, a bonsai tree symbolizes good fortune, peace balance and good luck.
It’s also said that if you’re given a bonsai tree rather than purchasing it for yourself, good luck and fortune smiled doubly upon you, so it makes it the perfect gift.
Also, it covers all three of the main factors.
The three important key elements that i said goes ahead and gives the reciprocity biased a lot of power, and that is one.
You started the gift, giving somebody has to start the cycle of the of the reciprocity, the giving number two it’s unexpected now, even if they do normally get some type of a christmas gift from you, they probably won’t expect a bonsai tree, they’re, probably going to be Thinking cookies, mints chocolate, the normal things that are given at christmas time and then, thirdly, you can personalize these.
You can personalize these to each client.
You know probably their particular situation and the struggles they went through in 2020.
There’s probably been a lot, so it really makes it even this year, but any year, a really good time to give that type of gift.
Well, there you have it an idea for your client’s christmas gift and a way to go ahead and receive that power of reciprocity throughout the year.
Now, if you’d like to learn more psychological tips on closing more word tracks to overcome objections in the automotive business go ahead and make sure you check out one of the videos, that’s going to be coming up right about [, Music ].
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