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6 NBIZ %u25a0 DECEMBER 2024 comes from repeat customers. Of greater importance is that 60% of loyal customers through word-of-mouth will share their favorite brand with their friends and family. (Yotpo). Imagine the increase in profits with a decrease in marketing costs.Marketing costs in 2023 for all industries averaged 13.6% of the total business budget. For small businesses including but not limited to real estate and financial services that average percentage was 10%. As all markets and industries are different, these percentages vary. Word-of-mouth marketing is far more effective than paid aids which drain profits. One statistic I read suggested word-of-mouth marketing resulted in five times more sales. For many small businesses, word-ofmouth marketing is referrals. So, what does gratitude mean for a small business and equally how important how does one infuse authentic gratitude into their business?President Dwight Eisenhower stated %u201cplans are worthless, planning is everything.%u201d From my nearly three decades of being a small business owner (20 years as an executive consultant and small business sales coach along with 8 years as a real estate agent) coupled with two decades of B2B corporate purchasing and sales experience, I firmly attest to Eisenhower%u2019s words.Unfortunately, I am often reminded of the White Rabbit in Alice in Wonderland who is running around yelling %u201cI%u2019m late, I%u2019m late.%u201d From my experience, far too many small business owners of which 81.7% in 2023 had no employees (nonemployer firms per the US Small Business Administration) failed to invest the time to engage in planning. These individuals were often engaged in %u201cspray and pray%u201d marketing and sales behaviors. Spray their actions all over the place and then pray something sticks. As the New Year approaches, here are some tips to infuse gratitude into your small business.%u2776 Each day write a thank you note to a client, a vendor, a colleague, a friend, or even a family member. These notes could also include Happy Birthday, Happy Anniversary, or Just Thinking of You cards.%u2777 Invest the time to create a strategic thinking business plan. Often hiring an outside person may help in this creation because people don%u2019t know what they don%u2019t know. Unfounded presumptions tend to drive behaviors.%u2778 Within that plan, look to your budget and devote marketing dollars to purchase stamps, cards, and even small gifts.%u2779 Track the results from sending your notes of gratitude. You just may be surprised!%u277a Track your referrals and repeat business. Send a thank you note or card to a loyal customer for his or her recent purchase or referral.%u277b Invest the time at the end of each day to reflect upon your actions of gratitude. Who did you personally thank? Who did you fail to acknowledge for their efforts?%u277c Have an attitude of gratitude. Return to your strategic plan and review your %u201cValues Statement%u201d. Additionally, consider saying thank you to friends you don%u2019t know.How do I know these tips work? After seven years of previous sales experience, I had never sold real estate, but now it is my practice, and it is 75% referral-based. The other 25% is 20% from physical marketing signs on properties and 5% from paid sales leads. Gratitude is always present. What I have learned just by answering the phone promptly, I usually receive a thank you. Then, returning a message via email on what I promised to do earns another thank you. Gratitude is a two-way street and is the foundation for a successful, ethically driven business. Remembering the words by Marcus Tullius Cicero may help:%u201cGratitude is not only the greatest of virtues, but the parent of all others.%u201d NLeanne Hoagland-Smith is a clarity strategist, solving people and process problems. As a thought leader who challenges the status quo, she turns tomorrow%u2019s goals into today%u2019s results. Follow her on Twitter@CoachLee.60% of loyal customers through word-of-mouth will share their favorite brand with their friends and family.