Podcast Summary: B2B Agility™ Episode #30: The Power of Gratitude in Business with Brendan Kam, CEO of Thanks

Introduction

In Episode #30 of the B2B Agility™ podcast, hosted by Greg Kihlström of The Agile Brand, the focus shifts to an often-overlooked yet powerful tool in B2B marketing and business relationships: gratitude. Greg welcomes Brendan Kam, the Co-Founder and CEO of Thanks, a platform dedicated to facilitating genuine expressions of gratitude within business environments. Released on November 19, 2024, this episode delves deep into how small, personalized gestures of appreciation can significantly enhance business relationships, boost employee morale, and drive long-term success.

Guest Introduction

Greg Kilstrom (01:20):
“Are you missing out on one of the simplest yet most powerful tools for building business relationships? What if a small personalized gesture could mean more to your clients and colleagues than a raise or a promotion? Today we're exploring the power of gratitude in business with Brendan Kam, Co-Founder and CEO of Thanks.”

Brendan Kam (01:47):
“Thank you so much for having me. Greg, it's great to meet you. I’m passionate about fostering genuine connections in business through gratitude, moving beyond transactional interactions to build lasting relationships.”

The Importance of Gratitude in Business

Greg Kilstrom (02:37):
“I wanted to start with the role of gratitude and business that I mentioned at the top of the show and really talk about how this is an essential component of building strong relationships, as you just said. So you've described gratitude as a cornerstone of building business relationships. Why is it so important?”

Brendan Kam (03:14):
“In today’s fast-paced business environment, interactions have become highly transactional. Everyone is busy with back-to-back Zoom calls, focusing solely on closing the next deal. This leaves little room for the human element, which is crucial for building meaningful and long-term relationships.”

Personalized Gestures vs. Traditional Swag

Greg Kilstrom (05:49):
“I like what you said about swag. It’s about the giver versus the receiver when you're giving something with your company logo on it. Can you talk a little bit more about why small, thoughtful acts of gratitude are more effective than big, flashy gifts?”

Brendan Kam (05:56):
“Swag is great but it often feels impersonal and self-serving. With Thanks, the focus is on the recipient. For example, sending a cup of coffee to a busy client is a small gesture that shows you understand and appreciate their current efforts, fostering a genuine connection without the need for significant expenditure.”

Effective Gratitude Gestures: Examples and Impact

Brendan Kam (07:02):
“An impactful gesture could be gifting a subscription that aligns with the recipient’s interests. For instance, sending a music subscription to a music lover not only acknowledges their personal interests but also creates a common ground for further relationship building.”

Greg Kilstrom (08:05):
“That reinforces the relationship part of it. Sending a $5 coffee gift for someone who loves coffee means more than a $50 gift they'll probably never use. It shows that you’ve taken the time to understand and cater to their preferences.”

Operationalizing Gratitude in Sales Processes

Greg Kilstrom (12:49):
“You touched on ROI earlier. How do you recommend measuring the ROI of gratitude gestures in business interactions?”

Brendan Kam (10:25):
“The easiest way is to connect gratitude gestures to your CRM systems like Salesforce or Microsoft Dynamics to track engagement metrics. For example, shorter sales cycles and quicker callbacks can be directly linked to personalized gratitude gestures. Additionally, qualitative feedback and the strengthening of long-term relationships offer substantial ROI beyond immediate financial gains.”

Building a Culture of Gratitude

Greg Kilstrom (22:22):
“To truly ingrain gratitude within a company, what steps can leaders take to build a culture of gratitude?”

Brendan Kam (22:26):
“Start by addressing both internal and external aspects. Internally, empower managers with small budgets to give personalized thank-yous rather than relying solely on centralized HR programs. This ensures that gratitude remains personal and meaningful. Externally, cultivate appreciation for all clients, even the challenging ones, by recognizing their value in driving your business forward. For instance, thanking a difficult client for their feedback can turn a negative experience into a positive and productive relationship.”

Impact of Remote Work on Gratitude Practices

Greg Kilstrom (27:23):
“With the rise of remote work, how has the approach to gratitude changed?”

Brendan Kam (27:49):
“Remote work makes gratitude even more critical because the lack of face-to-face interactions can lead to feelings of detachment. Simple gestures like sending a dinner via Uber Eats or Doordash can bridge the gap, fostering a sense of connection and appreciation despite physical distances. These actions help maintain the human element in a predominantly digital business environment.”

Leadership and Agility in Gratitude Practices

Greg Kilstrom (29:22):
“Lastly, how do you stay agile in your role and ensure that gratitude remains a consistent practice within your organization?”

Brendan Kam (29:37):
“Agility is maintained through constant reflection and adaptation. We hold biannual sessions to reassess our strategies from first principles, ensuring that our gratitude practices remain relevant and effective. Additionally, staying informed through resources like podcasts and literature helps us incorporate new ideas and refine our approaches to align with our core values.”

Notable Quotes

• Brendan Kam (03:12):
  “Everyone's so busy and your Zoom call after Zoom call and you're just so worried about getting that next deal done, getting that thing over the line and we sort of lose sight of the human element of business.”

• Brendan Kam (07:02):
  “It's about connecting. It's about, I hear you. It's about, you know, this isn't just this transaction, it's about building a long-term relationship.”

• Brendan Kam (10:25):
  “When you use Thanks, you're going to see shorter sales cycles. You're going to get people getting back to you quicker. It's just going to move your pipeline a little fatter to the end.”

• Brendan Kam (22:53):
  “Even if it's a few dollars to the manager each month, let them give personalized thank-yous based on what they know about their team members.”

• Brendan Kam (24:57):
  “If you can bring yourself to be grateful for it, that will trickle down internally as well.”

Conclusion

Greg Kilstrom wraps up the episode by emphasizing the transformative potential of gratitude in B2B marketing and business operations. He encourages listeners to explore Brendan Kam’s work with Thanks and integrate gratitude into their own business practices to foster stronger, more meaningful relationships.

Final Thoughts

This episode of B2B Agility™ underscores that in a world increasingly dominated by digital interactions and transactional relationships, the simple act of expressing genuine gratitude can set businesses apart. By prioritizing personalized gestures and fostering a culture of appreciation, companies can build enduring relationships that drive both business success and customer satisfaction.

For more insights and to connect with Brendan Kam, listeners are encouraged to follow the links provided in the show notes.

Resources Mentioned:

• Thanks: [Website Link]
• The Agile Brand Guides: Available on Amazon and www.agilebrandguide.com
• CRM Integrations: Salesforce, Microsoft Dynamics

Notable Tools:

• Uber Eats and DoorDash: For sending personalized meal gestures
• Spotify Subscriptions: As examples of tailored gratitude gifts

Connect with Greg Kilstrom:

• Podcast Website: www.b2bagility.com
• Social Media and Amazon: Search for Greg Kilstrom

Timestamps Overview:

• 01:20 - 01:49: Introduction to the episode and guest
• 03:14 - 04:48: Importance of gratitude in business
• 05:49 - 07:09: Personalized gestures vs. traditional swag
• 10:25 - 12:49: Measuring ROI of gratitude gestures
• 22:22 - 26:58: Building a culture of gratitude
• 27:23 - 29:47: Impact of remote work and maintaining agility
• 31:09 - 31:55: Closing remarks