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The Thank You Economy Hardcover – Mar 8 2011
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From the Back Cover
If this were 1923, this book would have been called "Why Radio Is Going to Change the Game" . . .
If it were 1995, it would be "Why Amazon Is Going to Take Over the Retailing World" . . .
The Thank You Economy is about something big, something greater than any single revolutionary platform. It isn't some abstract concept or wacky business strategy—it's real, and every one of us is doing business in it every day, whether we choose to recognize it or not. It's the way we communicate, the way we buy and sell, the way businesses and consumers interact online and offline. The Internet, where the Thank You Economy was born, has given consumers back their voice, and the tremendous power of their opinions via social media means that companies and brands have to compete on a whole different level than they used to.
Gone are the days when a blizzard of marketing dollars could be used to overwhelm the airwaves, shut out the competition, and grab customer awareness. Now customers' demands for authenticity, originality, creativity, honesty, and good intent have made it necessary for companies and brands to revert to a level of customer service rarely seen since our great-grandparents' day, when business owners often knew their customers personally, and gave them individual attention.
Here renowned entrepreneur Gary Vaynerchuk reveals how companies big and small can scale that kind of personal, one-on-one attention to their entire customer base, no matter how large, using the same social media platforms that carry consumer word of mouth. The Thank You Economy offers compelling, data-driven evidence that we have entered into an entirely new business era, one in which the companies that see the biggest returns won't be the ones that can throw the most money at an advertising campaign, but will be those that can prove they care about their customers more than anyone else. The businesses and brands that harness the word-of-mouth power from social media, those that can shift their culture to be more customer-aware and fan-friendly, will pull away from the pack and profit in today's markets.
Filled with Vaynerchuk's irrepressible candor and wit, as well as real-world examples of companies that are profiting by putting Thank You Economy principles into practice, The Thank You Economy reveals how businesses can harness all the changes and challenges inherent in social media and turn them into tremendous opportunities for profit and growth.
About the Author
gary vay*ner*chuk has captured attention with his pioneering, multifaceted approach to personal branding and business. After primarily utilizing traditional advertising techniques to build his family’s local retail wine business into a national industry leader, Gary rapidly leveraged social media tools such as Twitter and Facebook to promote Wine Library TV, his video blog about wine. Gary has always had an early-to-market approach, launching Wine Library’s retail website in 1997 and Wine Library TV in February of 2006. His lessons on social media, passion, transparency, and reactionary business are not to be missed!
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Top Customer Reviews
Reading The TYE reminded me of my grandmother telling stories about her corner store and her repeat customers. The TYE focuses on using the same manners your grandparents used to grow their businesses, and bringing those same manners and principles into todays current economy.
Thank you Gary for another great book.
Re-read that sentence and you will understand what Gary Vaynerchuk has in mind when observing "we have entered a new era in which developing strong consumer relationships is pivotal to a brand or company's success." The challenge is to create an at points of contact with each consumer an emotionally charged interaction because the cultural changes social media have ushered in "are already having a big impact on marketing strategies, but eventually, companies that want to compete are going to have to change their approach to everything, from their hiring practices to their customer service to their budgets. Not all at once, mind you. But it will have to happen, because there is no slowing down the torpedo-like speed with which technology is propelling us into the "Thank You Economy."
Long ago, Southwest Airlines' then chairman and CEO, Herb Kelleher explained his company's sustained success this way: "We take good care of our people, they take good care of our customers, and then our customers take good care of our shareholders." In the "Thank You Economy," appreciation is the coin of the realm. The aforementioned "emotionally charged interaction" involves two components: an employee who appreciates a customer or (yes) another employee and the person who feels appreciated.
Throughout his lively and eloquent narrative, Vaynerchuk inserts a number of insights that caught my eye.Read more ›
The Internet and tools like Facebook have brought the 'local' back into consumption. However the 'local' is now far wider and pervasive. Prior, the 'local' meant smaller, tangible communities of friends and families living near them, meaning word-of-mouth spread to 20-30 people. In today's world, the 'local' and thus, word-of-mouth is no longer tangible - it's digital. Communities have extended to the Internet, meaning word-of-mouth - the most effective and trusting way a brand can spread its message - spreads a lot further. It spreads to Friend's Lists and Twitter followers, to blogs and message boards. The average Friend List on Facebook is 130 people and the average Twitter user has 300 followers - that means, on average, 7,740 people are now reading and commenting about Jennifer's poor experience with her cell phone provider.
Initially, business, especially the big players, has been scared of this. They have shied away from it, because consumers are more likely to speak of negative experiences than positive ones.Read more ›
Social marketing isn't a walk in the park, it takes persistence and dedication... like any other campaign platform.
"Those who are willing to look (and there are too many marketers who are not) are witnessing the humanization of business; it will have one of the greatest impacts on commerce we've ever seen." - @GaryVee
Thanks so much for this Gary.
Would love to hear a little more on getting attention in B3B, which is a little harder to get.
Most recent customer reviews
Gary is a smart guy. Worth reading regardless of what you do for a living, it's about relationships and how to build strong ones. And being a decent human.Published 21 months ago by CarolineG
Thank you so much. I have been resisting social media for so long. While I may go kicking and screaming, I will go. Thanks. DavidPublished on April 13 2014 by John Smith
Just got turned on to Gary and have loved everything he puts out. Clear and concise - common sense biz advice for this generation.Published on Jan. 15 2013 by Wendyweb
Book arrived on time and in the advertised condition.The book is in great condition. I would definitely buy from this company again.Published on Feb. 27 2012 by cxryder
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