Companies reap more rewards if they thank their customers

A new research has found that companies, who usually don't acknowledge customers who fill those ubiquitous satisfaction surveys, can reaps huge rewards if they thank their customers.

The study led by Michigan State University (MSU) explained that the simple gesture of thanking customers was just as effective and less damaging to the company's bottom line as acknowledgements that included rewards in the form of gift cards and guaranteed reservations.

Clay Voorhees, associate professor at MSU mentioned that simple, sincere gestures are enough to drive feelings of gratitude among consumers.

The study initiated that when company's president sent a thank-you email, repeat visits increased by 50 percent for men and 57 percent for women within 12 months.

Voorhees later added that ending an immediate automated response after customers completed the survey did not provide any value to the firm.