TD Study Reveals the Best Ways to Say Thanks

PRESS RELEASE


The world is going digital, but 84 percent of people still prefer an in-person thank you, especially if it’s accompanied by a gift, according to a recent survey by TD Bank (No. 39 on the DiversityInc Top 50 Companies for Diversity list). The study found that people of all ages think a face-to-face thanks is best, leaving the value of a phone call, email and text in the dust.

Regardless of how gratitude is expressed, consumers across all age groups agree that appreciation should be conveyed by saying thanks directly to the individual recipient (60 percent) and personalized (44 percent).

For brands, the proof is in the giving

More than three out of four consumers like when brands demonstrate their appreciation (77 percent). But today’s consumers expect more than a generic email blast or even a written thank-you note. They prefer that brands say thanks in the form of gifts and rewards.

Here’s what consumers told TD:

– From millennials to Gen Xers, consumers like freebies (39 percent and 38 percent, respectively).

– Only 25 percent of boomers indicate a preference for freebies.

– Rewards programs are also a great way to say thanks with roughly one third of respondents reporting that they prefer their thanks in the form of points or miles.

– An old-fashioned thank-you note has gone the way of dial-up. Only seven percent of millennials and 4 percent of Gen Xers like receiving a written thank-you note from a brand, while email moves the needle for only 3 percent and 7 percent, respectively.

“As the Human Bank, we focus on providing legendary customer experiences at every touchpoint, and that includes saying ‘thanks,'” said Michael Rhodes, head of Consumer Bank, TD Bank.

Have you thanked your boss today

Given how much time people spend at work, TD studied how employees express appreciation:

  • Only 8 percent of respondents say they thank their boss the most, compared to colleagues (28 percent) and clients (14 percent).
  • Millennials have the edge when it comes to client relationship building: 22 percent are more likely to thank their clients, outpacing Gen X (13 percent) and boomers (8 percent).

TD Bank partnered with renowned etiquette expert Lizzie Post, President of The Emily Post Institute, to analyze the results of this study. The Emily Post Institute has been America’s go-to source for etiquette advice for nearly 100 years.

“Customers know that they have a choice when it comes to where they spend their money and where they take their business,” said Ms. Post. “When a brand demonstrates genuine gratitude and respect, it builds consumer trust. And business success relies on that trust.”

Additional highlights are available on the TD Bank Media Room.

TD knows banking and thanking

This summer, TD Bank is saying #TDThanksYou to customers from Maine to Florida by creating “TD Thank Accounts'” to deliver personalized gifts of appreciation. Many of these moments were captured in an inspiring video, which was released today.

“We’re very excited about this campaign,” said Rhodes. “Through this campaign and TD Thank Accounts, we’re letting customers across our footprint know how much we appreciate them.”

Survey Methodology

Research company MARU/VCR&C conducted the survey among a nationally representative sample of Americans. The online fieldwork occurred between July 19th and July 25th 2016. In total, 1,009 completes were gathered in the U.S. Data has been weighted by age, gender, and region to reflect the populations. Margin of Error for each sample is +/-3.1%.

Leave a Comment

Your email address will not be published. Required fields are marked *

*

Latest News

Gainesville, Georgia, black, church,

Georgia Police Arrest White Teenager Before She Could Carry out Planned Attack on Black Churchgoers

A white female teenager has been arrested in Gainesville, Ga., after her high school peers told administrators on Friday about her notebook filled with plans to kill Black churchgoers at the Bethel African Methodist Episcopal Church, according to police. The 16-year-old girl was charged with criminal attempt to commit murder…

employees discrimination stylists white Black hair natural hair discrimination complaints Sharon Dorram Sally Hershberger New York City Commission On Human Rights

Swanky Salon First Business Penalized Under New York’s Hair Discrimination Legal Guidelines

A swanky salon on Manhattan’s Upper East Side has been penalized under the city’s hair discrimination law, New York City’s Human Rights Commission announced last week. Sharon Dorram Color at Sally Hershberger salon is the first business in New York City to face the consequences of discriminating against Black employees…

TIAA Holds SoPro Business Resource Group Summit

TIAA recently launched its 10th Business Resource Group (BRG): SoPro, for Seasoned Professionals of TIAA. The SoPro BRG’s mission is to maximize the impact of TIAA’s network of seasoned professionals by bridging generational differences and promoting cross-cultural collaboration by sharing knowledge and experiences. This includes future collaboration and partnership with…

Boeing Programs Receive Aviation Week Laureate Awards

Originally published on Boeing.mediaroom.com. ecoDemonstrator and Ground-based Midcourse Defense programs recognized for achievements in aerospace wo Boeing [NYSE:BA] programs were honored today with Aviation Week Laureate Awards for extraordinary achievements in aerospace. Boeing’s ecoDemonstrator program was recognized in the Commercial Aviation Sustainability category. The ecoDemonstrator takes promising technologies out of the…

Twitter

On Twitter, Activists, Businesses Can Advertise Causes, But Political Ads Still Banned

Twitter released revised rules for advertisements on Friday, saying that ads sponsored by politicians still are banned but advertisements for causes, such as social, economic and environmental issues, are allowed. Beginning this week, businesses and activists are allowed to buy advertisements around causes like “civic engagement” and “social equity.” But…