November 23 Why gratitude is good for business (CNNMoney.com)

November 23, 2011

"Gratitude motivates positive reciprocal behavior," says Randy Raggio, a marketing professor at the University of Richmond. If a customer believes that a business has his best interests at heart, that customer is more inclined to develop a long-term relationship with the business.

Raggio first grew interested in gratitude in the wake of Hurricane Katrina, when the state of Louisiana ran a thank-you-for donations campaign. Many people who saw the campaign were more likely to donate or volunteer in the future, according to his research, even those who had not previously participated in that particular campaign.

A business might show their appreciation by having private sales for their best customers, by offering a few chocolates with the bill, or simply by saying thanks for your business. It needs to be genuine and it's better if it's not open to all.

Customer appreciation, Raggio says, usually comes in the form referring a friend, writing a positive review online, or perhaps a willingness to pay more later on.

full CNNMoney.com article.