The consistent theme emerging across Square Holes' research studies is TRUST.
Irrespective of business or government. Trust is the fundamental.
Be this products trusted as the best with similarly trusted service, and therefore able to demand a premium price. And, businesses simply delivering on promises and displaying empathy when dealing with inevitable problems to build trust. Or, business and government leaders failing to build trust and confidence through endlessly breaking promises (hence the chaos in elections in Australia, the UK, US and beyond).
Authenticity is all the rage, but without trust all is lost.
And, the best way to build trust in any relationship is saying THANK YOU and being sincerely grateful.
There is an increasing library of research in relation to gratitude. Findings of the research illustrate that gratefulness has a high correlation with subjective well-being and increases happiness, decreases depression, reduces stress and generally increases satisfaction with life and social interaction.
And, gratefulness is not just for individuals, it should be a business and government priority. Leaders authentically thanking their team. Businesses sincerely thanking their customers.
The simple ‘thank you’ on a restaurant receipt is said to increase repeat business. And, a study of jewelers found that a retailer calling customers to say ‘thank you’ increased sales by 70%, where a call to advise of a sale increased sales by 30%. Simplistic examples, but worth reflection.
Business and government often wish to communicate to customers and citizens that they are grateful. Yet, they too often fail. They may actually be grateful, but they fail to communicate it with sincerity.
Rather than a business offering more to entice new customers, and existing customers need to beg for a better deal, be proactively thankful in offering a better deal to those who would prefer to stay if shown some gratitude. Rather than a government minister being focused on their legacy, thank the people they represent not only on election night and amidst an election campaign, but throughout their term.
You can’t fake gratitude. People can see through fake.
The best strategy for individuals, business and government to show gratitude is to actually truly be grateful, then communicate this with sincerity and absent of ego.
Rather than desperately longing for the economy to be better or the city to improve, the grateful celebrate the strengths, work with what they have to find product-market fit and are optimistic about the future.
Ps. Five things we are grareful for ...
- You, yes you. For opening, and reading this and other of our random thoughts each week. It has been excellent to consolidate and share our thoughts, and build a few relationships and new clients.
- Our team: For going through a massively successful transformation and a record year ... Whoop!
- Our clients: For our uber cool missions from fertility and early childhood to ageing well and end of life. Kickass brands and world changing causes.
- Our partners: For working with us in the most exciting time in history when everything is so uncertain other than the exponential opportunities.
- Our family and friends: For sharing our lives, laughs and stories, and for the awesome support in this oh so wonderful world.
What are you grateful for?
A grovey thank you song ...
If you like it PLEASE PLEASE share it ... :-)
Adelaide, Melbourne and beyond ...
During 2017 same time each week, a fresh update. Odd weeks Jason (sometimes insightful, often random trends / observations etc), even weeks Square Holes (research / strategy methodology etc).