 | The Thank You Economy |
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The Thank You Economy isn't some abstract concept or wacky business strategy. It's the way we buy and sell, the way we're interacting as consumers, as employees, as entrepreneurs on all levels, right now. The way our marketplace functions has been evolving right before our eyes. Top-down, one-way exchanges are gone, replaced by relationships based on open, honest, and constant communication between customers and business. Today, individuals and brands that out-care and out-love their competition - those emphasising quality, value, responsiveness, and attention to detail, among other essentials - see the biggest returns. Gary Vaynerchuk contends that the people and companies harnessing the word-of-mouth power provided by multiplatform media - those that can shift their outlook and operations to be more customer-aware and fan-friendly - will pull away from the pack and profit in today's markets. In "The Thank You Economy", he dissects the companies on the leading edge, showing how they are succeeding - and sometimes failing. Laying out the ideas and insight that support this enormous change, Vaynerchuk explores these emerging connections - from consumer to consumer and business to business and everything in between. Passionate and persuasive, he reminds us that, surviving and thriving today it takes more than just hard work-it takes a heartfelt thanks to those who make it possible.
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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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43 of 47 people found the following review helpful.
PUBLISHED BOOK REVIEW!
By Peter Klein
Ideas & Innovation, Mullen, Social Influence - MULLEN
Thank you for writing the Thank You Economy.
Author, Social Media Pioneer, Gary Vaynerchuk
As REM once said: "It's the end of the world as we know it and I feel fine." If anyone reading this hasn't realized that everything has changed, maybe Gary Vaynerchuk's new book The Thank You Economy will help smack some sense into you. At the very least, it will make the new world a bit less scary for you or your boss or your boss's boss. I think people will find that Gary V. is a wonderfully unlikely spokesperson and an incredibly steady voice of reason in a seemingly endless world of chaos. He intuitively gets it and can articulate and translate social media very well.
Here's my take on the brand spanking new Thank You Economy, the latest from the author of the New York Times best-seller Crush It!, famous internet wine marketer, social media godfather, and overall feisty personality.
The book opens by drawing some amazing parallels to the days when every store owner needed to endear himself to his small community, be an intrinsic part of it, and keep the community happy. If a customer was unhappy, word of mouth would spread and it would cause great problems. Then we became busier, more fragmented, less personal and our individual voices stopped mattering as much to businesses. Essentially they could get away with not caring.
But, with the introduction of SM, we are back in a community where each individual's voice matters a lot and the business owner needs to authentically care and should want to communicate with the individual for a lifetime of ROI. That really simply sums up the incredible and undeniable role of SM today. While we have seen other authors point out the differences between pre- and post-industrial revolution society and how it relates to brands roles in our lives, Gary has put a lot of smart thinking into what this means for social media and drawn out useful conclusions for us. The book gives great easy-to-digest examples of some social media successes and failures we can all learn from. There is also content in here that won't sit easily with the ad community, but it's a viewpoint that needs to be heard. In fact, he makes a great case for why advertising and marketing need to continue to be more relevant and more entertaining then ever, why they naturally go hand in hand with SM if used properly by the right people. It also gives nice context to social media's role in relation to advertising and marketing. All stuff that should be smacking advertising and marketing people in the head, if it hasn't already. The book also underscores the need for absolute authenticity in SM and how to get there with your company.
Gary's book should be required reading for anyone working, thinking or thinking about thinking or working in social media. Or anyone who works at a company that is thinking about using social (which should literally be every company in the world). The Thank You Economy has been written in a way that people who are very new to social and people who have been working in it for some time will get a lot out of it. Agencies and clients need to get their hands on it and distribute it liberally. It should be used by agencies to get clients (and there are still some) who don't yet know the invaluable value of SM to get off the fence. And it should be used as a tool by clients to get senior management who may not yet see the undeniable value of SM to be a lot less scared about it. It debunks the anti-social media myths and paths of resistance in very compelling and motivating ways.
Like I said, thank you for writing this book Gary, it's a much needed smack upside the head for marketers and I think you just made all of our jobs a whole lot easier. Nice work.
15 of 15 people found the following review helpful.
Gary really "gets it" timeless advice
By Lindsay Nixon
I'm a fan of Gary -- I like him, I like his passion, I like his success, I like his voice... and both TYE and CrustIt are GREAT books... IF you don't already have a business or brand, or you're just starting out. If you have a business/brand and are even marginally successful, you've already figured most of the information on your own. (It's sink or swim market).
I'm thrilled both books exist for newcomers -- god knows I'd have preferred to read it in a book than learn on my own with trial and error -- and in a way, it was nice to be assured that I was "right" that what I was going was "the right thing" and "best." Both books made me feel really good about how I conduct my business, even if I didn't learn anything "new."
However, don't not get this book just because you're running a successful business or brand! You can still pull some inspiration from these books, and maybe learn a thing or two. I made lots of notes, flagged pages, etc when I read through TYE because it spawned new ideas. It wasn't that Gary said "Do XYZ" but reading a story about some other company made an idea (sometimes totally unrelated) pop into my head -- Crush It did that for me to, so I will continue to recommend both.
Looking fwd to more books Gary!
18 of 20 people found the following review helpful.Another HIT!
By Jon Mitchell Jackson
Get this book! Just as Gary did in "Crush It", he's written another "must read" book for every business owner or service professional (my fellow lawyers must read this book). Picked up an early edition late yesterday afternoon while my son was at soccer practice. Almost missed picking him up because I couldn't put the book down. Get it! Read it! And even more important, apply these tools, techniques, and approaches to building your business and helping others. Thank you Gary! Mitch/ NewWorldLawyer.com
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