What is the “Reciprocity Principle” of marketing?
This has to do with the psychology of relationships, otherwise defined as a human need, that we are compelled to give something back when a gift is received. So using this concept in marketing, when the buyer receives something free from the seller, the buyer feels indebted to do something back such as making a purchase.
Though to best utilize this principle in marketing, is for the business to create a ‘gift’ of significant value for the customer. This is a powerful way to introduce your business to new audiences but also to create loyalty for your already established customers/clients.
What 9Round currently uses for their reciprocity principle is 1 free workout to try their services. If I was to implement a new marketing strategy, I would change this offer to “Try 9Round 10 days for free!”
With just one free workout that is 30 minutes, there is no way that the all many potential best benefits of using 9Round could not be experienced within the 30 minutes to convince the new person into committing to a membership. The conversion rate from 1 free trial to a life-long member, could possibly not be the best numbers that the owners are hoping to achieve.
With 10 days free, the customer will get more time to meet other staff members, meet members of the gym and begin to develop relationships within their community. As the 10 days go along, they will begin to develop a new habit of incorporating 9Round into their daily routine. The customer will see more value in committing to this ‘community’ than just paying for a membership.