The video above is part of a series called “Behavioral Laws you absolutely need to know to grow your business”. It aims at sharing timeless behavioral laws backed by Evidence-based behavioral studies you can use to become more competitive, increase your sales, and take off your business.
This video introduces:
The law of reciprocity
Many experimental studies explored how this law impacted people’s choices and decisions. We just mention two among them:
- An experimental study conducted by Professor Dennis Regan of Cornell University. It showed that subjects bought significantly more raffle tickets for a new car when they were handed a Coca-Cola beforehand.
- An experimental study conducted by Strohmetz and his team in some restaurants. It showed that clients increased their tips by 14% when they were given the first candy with the bill and a second when leaving the table.
The law was proved to be so effective in business especially in marketing and sales and that’s why companies use free packages, services, and trial periods and so on…
To know more about this law and how to practically apply it to your own business here below some interesting references. Good read!