3 ways to reap the commercial benefits of gratitude


With Thanksgiving right behind you – and for which you are always grateful – it is natural to think of gratitude and generosity. Giving Tuesday in just three days is vital for non-profit organizations. If organizations get ready for Donner on Tuesday, they will raise more money on this annual fundraising day, which means more impact on their cause.

The key to a successful On Tuesday, it's a reminder that gratitude is an essential element – a lesson that all business leaders can learn. For example, St. Louis Stray Rescue, a non-profit organization, strongly depends on giving Tuesday to strengthen his efforts city ​​temperatures fall below freezing in winter. All members of the organization, from trainees to the general manager, participate in Donner Tuesday. This holistic approach is essential to the organization's ability to express gratitude for the generosity of its donors: Each person is personally thanked, regardless of its amount.

What is true for a successful Tuesday is also true for the business world. In other words, for your business to succeed, you must express your gratitude. When looking for ways to express your gratitude as a leader, first consider the relationships you value most: relationships with employees, customers, and business partners.

This is probably not a surprise, but relationship building is critical to the success of your business. As a business executive, here's how you can show your appreciation of the relationships you depend on.

1. If you want grateful staff members, be grateful for their.

You must earn the gratitude of your team members rather than just waiting for it or extracting thanks from them as if you were tearing your teeth. It's simple: if you want your employees to appreciate what you provide, you must first be grateful for everything they do. And do not forget to show and tell. Inform your team of what you are grateful for and explain why, but also express your gratitude in a concrete way.

In practice, this can take the form of thank you notes to production team members, indicating that you are grateful for the extra hours worked to ensure that your company meets consumer demand during the holidays. You could even pay for lunch one day. By practicing gratitude in this way, you could reap the benefits of more productive workers. Studies have shown Employees work harder when their bosses show appreciation for what they do.

2. Practice gratitude to win loyal customers.

Similarly, when you show appreciation to your customers, they will show you in return. You can express your gratitude to customers in many ways, for example by organizing customer appreciation events, creating loyalty programs and customizing services. For example, Cindy Georghiou, owner and operator of Jaqua Bath and Body, promotions and exclusive offers with a small base of loyal customers before promoting them publicly.

Loyal customers are likely to refer your business to a friend and, according to the Data & Marketing Association, loyal customers spend 33 percent more than new customers. In addition, studies have shown that customers want a brand that shares their values. At the end of the day, giving back will help your brand become more resonant with customers. To do this, your business can dedicate time to a cause that matches its mission, collect coats for a local homeless shelter, or even promise to donate equivalent funds on Tuesday.

3. Use gratitude to build better partnerships.

Gratitude can also strengthen your business partnerships. For example, be sure to thank your technology partners when they provide a technical solution that simplifies your processes or when they take extra precautions to ensure the security of your company's data.

When you express your gratitude sincerely and frequently, you build trust with your business partners. Unrelated business partners will likely accumulate potentially useful information, or not share information that may be problematic later, simply because it is not practical. However, if partners build trust, they can operate as two services within the same company and find more opportunities (and more reasons) to collaborate. Gratitude can grease the wheel of collaboration and innovation, and it's the right thing to do on its own.

With Thanksgiving behind us and the upcoming holiday gifts, it's hard not to focus on what's on your wish list. Before doing so, commit yourself to practice gratitude as an event more than once a year. The impact on your staff, your partners and your bottom line will be greater than you think.

Brad Anderson

Brad Anderson

Editor-in-Chief at ReadWrite

Brad is the editor who oversees the content of ReadWrite.com. He previously worked as a publisher at PayPal and Crunchbase. You can reach him at Brad at readwrite.com.