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The Thank You Economy Hardcover – Bargain Price, March 8, 2011
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Amazon Exclusive: Gary Vaynerchuk on The Thank You Economy
The Thank You Economy is much more than saying "thank you.” The Thank You Economy represents a much bigger movement. This book could easily have been called The Humanization of Business or Manners Marketing.
I feel that we're living through the biggest culture shift of our time. The internet, itself, is 17-years-old. It's just hitting the social part of its life. It's just like growing up. As you get to 13, 14 and 15, you want to go out and go to parties. That's what's happening right now! The internet is growing up.
What happens when we live in this word of mouth world where we're tweeting out "I love Company X's orange juice"? We're sharing thoughts that we never would have picked up the phone and called somebody about in the past. What happens when brands can be humanized? In The Thank You Economy, I tackle the issue of the ROI of social media and provide case studies. I think we wrote a much, much stronger book than I did with Crush It. When I say we, I mean the people in the social graph--the people that are living it.
There is enormous ROI in social media. It's like my famous saying though, "What's the ROI of your mother?" The data isn't as black and white like it has been in the past. I firmly believe that the brands that have a soul and a heart and understand how to scale this will win.
This is a comprehensive book from a guy that has lived in the social space for the last 6 years like I have. I live and breathe my community and I've been able to consult with big brands for the past two years on how to leverage this world of caring. This is the perfect book, not only for entrepreneurs who might have an employee or two, but also for brand managers and CMOs at bigger companies.
About the Author
Gary Vaynerchuk is a serial entrepreneur who has revolutionized the way people look at interacting with their communities. While building his family's local liquor store into a national industry leader, he observed the extraordinary potential of what he has dubbed the Thank You Economy. As a consultant, he introduced those same principles into the business world at large, with successful applications in sports, consumer packaged goods, and retail. Askmen.com named Gary to its list of the Top 49 Most Influential Men of 2009, and he was included in BusinessWeek's list of the Top 20 People Every Entrepreneur Should Follow.
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The book certainly has many illustrations and conclusions as to why focusing on helping other is good business. The challenge is that getting a return on investment for such a strategy can take time. However, there seems little doubt that most people these days are hesitant to commit to a product or service without some sort of free sample or strong endorsement. This book encourages the reader to go and develop these means and focus them on driving business.
The book is well written and easy to read. It does not perhaps provide anything startling for those already in the Thanks You Economy but it does provides a few examples and suggestions where a strategy could be tweaked and enhanced. Those that have their doubts about the Thank You Economy are probably going to dismiss the books as fantasy. I would encourage those people to try and keep and open mind and at least try some of the suggestions from the book. In most cases they won't cost you anything and you might be surprises at the results that ensue.
There is certainly enough evidence out there to suggest that, done correctly, the techniques of the Thank You Economy can benefit any business. The greatest challenge for the sceptics is probably just being willing enough to give it a go. So, even if you have your doubts, I'd encourage you to read this book with an open mind and perhaps try a few of the suggestions. For those who have already embraces the ideals championed in the book it is still a worthwhile read in the quest to refine that way that you go about thanking people for interacting with your business.
Mr. Vaynerchuk believes it is important that brands and businesses learn how to properly use social media to develop one-to-one relationships with their customer base.
Mr. Vaynerchuck tells us about how small town businesses operated in the days of our grandparents and great-grandparents. The customers weren't just walking wallets; they were friends and neighbors. The business owners cared about their customers and tried to please them. Relationships and word of mouth could have a direct impact on an individual's personal and professional reputation, and on the success or failure of one's business. Word of mouth is now back. Social media sites allow us to discuss future purchases with people that we like and trust. These conversations are traveling across the world in real time.
The ROI of a social media user is deeply tied to that user's sense of community and the emotional attachment he or she associates with a product. Last year, the motherboard on my Dell laptop computer went out. The computer was only 13 months old so I was quite upset. I was even more upset after being put on hold for a very long time by a Dell customer service representative. So, I started tweeting on Twitter about how upset I was with the computer and the customer service. I soon attracted the attention of the Dell social media team. A representative asked me to call him on the phone and he did a great job resolving the problem. I recently tweeted that I think the Dell social media team does an excellent job resolving problems. The next day I received a tweet from MICHAEL DELL (a verified account) that said, "thanks for the nice kudos about our social media team."
I think I will always buy Dell computers ~ the heart wants what the heart wants. The brand that touches and creates the most emotion will win.
Gary Vaynerchuk wrote Crush It!: Why NOW Is the Time to Cash In on Your Passion in 2009. I read that book and I love it. I believe "The Thank You Economy" explains why a business should use social media marketing and "Crush It!: Why NOW Is the Time to Cash In on Your Passion" tells you exactly how to do it.
Read these books and then get busy building relationships with everything you've got!