Three reasons why your business needs to say thank you

Jessica McGreal, marketing manager at Carabella Gifts, reveals why thanking employees and clients is vital to business success

Have you ever forgotten to say ‘thank you’? We’re all guilty of it – taking a relationship for granted or not showing appreciation properly.

As Britain escapes the economic downturn, it’s becoming even more important that businesses say thank you in meaningful ways. Organisations need to stand out from the crowd in order to thrive – by attracting talent as well as clients.

Disagree? Well, here are three reasons that show saying thank you is crucial to business success:

Staff retention

No one likes to feel undervalued at work. Rewarding staff is a great way to keep up motivation and ultimately ensure people are happy at work. However, sometimes it’s difficult to really show your appreciation to members of your team. Implementing an employee rewards programme is the perfect way to retain and attract talent. This can be anything from ‘employee of the month’ initiatives to prizes when individuals meet their targets (this shouldn’t just be for sales roles). As well us upping the morale this can ultimately drive sales.

Customer loyalty

When making a purchase each individual customer expects to be treated as… well exactly that: an individual. Whether you are investing in a CRM system for your company or opening a new bank account, high quality customer service is a crucial.

Go that step further with loyal customers: remember special dates such as birthdays or work anniversaries by sending a special gift. This will keep you at the front of their mind when they next need a service you offer.

Attracting new business and talent

Cultivating a company culture that rewards employees and customers is a great way of attracting both new business and talent. It’s crucial to show potential prospects and employees what you are doing. There are lots of simple ways you can do this. For instance, showcase your employee rewards schemes across social media, and offer loyal clients 10 per cent off for recommending a friend.