The Thank You Economy

( 32 )

Overview

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...

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The Thank You Economy

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Overview

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.

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Editorial Reviews

From Barnes & Noble

It's easy to think of business sales as one-sided transactions: good productions pumped into the hands of production-hungry consumers. But according to 34-year-old entrepreneur/author (Crush It), those one-way exchanges no longer tell the true story of what's really on in the American marketplace. Using example after cogent example, he explains how our new Thank You Economy is superseding old models with its combination of constant communication, honesty, responsiveness, quality, and value. Relevant and readable.

Library Journal
Author Vaynerchuk (Crush It) shares his fascinating analysis of how the Internet has influenced revolutionary changes in communications, the way we buy and sell, and how businesses and consumers interact. These changes are forcing businesses to rethink the value of the ongoing development of online technology. Vaynerchuk acknowledges typical company resistance to investing in a deeper customer connection using social media and discusses realistic corporate concerns about return on investment in the technology, control of an online message, and the possible consumer backlash to the use of these new tools. He also explains various factors that define and drive an investment in social media that will help produce success. Vaynerchuk's passionate, heartfelt reading keeps this lively material moving along, although his frequent alerts and asides about his "off-script" comments quickly become annoying. Nevertheless, this is an important work that solidly sets the stage for any business or organization interested in maximizing today's ubiquitous social media tools. [See Prepub Exploded, 7/14/10; the HarperBusiness hc, published in March, was a New York Times best seller; the HarperCollins pb will publish in October 2012.—Ed.]—Dale Farris, Groves, TX
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Product Details

  • ISBN-13: 9780061914188
  • Publisher: HarperCollins Publishers
  • Publication date: 3/8/2011
  • Pages: 256
  • Sales rank: 147,514
  • Product dimensions: 5.50 (w) x 8.30 (h) x 1.00 (d)

Meet the Author

Gary Vaynerchuk

Gary Vaynerchuk is first and foremost a storytelling entrepreneur. He is also a New York Times bestselling author, and his digital consulting agency, VaynerMedia, works with Fortune 500 companies to develop digital and social media strategies and content. Businessweek selected him as one of the top twenty people every entrepreneur should follow, and CNN voted him one of the top twenty-five tech investors on Twitter. He lives in New York City, where he avidly roots for the New York Jets.

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Table of Contents

Acknowledgments xi

Preface xiii

Part I Welcome to the Thank You Economy 1

1 How Everything Has Changed, Except Human Nature 3

2 Erasing Lines in the Sand 45

3 Why Smart People Dismiss Social Media, and Why They Shouldn't 51

Part II How to Win 85

4 From the Top: Instill the Right Culture 87

5 The Perfect Date: Traditional Media Meets Social 111

6 I'm on a Horse: How Old Spice Played Ping-Pong, Then Dropped the Ball 119

7 Intent: Quality versus Quantity 131

8 Shock and Awe 141

Part III The Thank You Economy in Action 149

9 Avaya: Going Where the People Go 151

10 AJ Bombers: Communicating with the Community 155

11 Joie de Vivre Hotels: Caring About the Big and Little Stuff 167

12 Irena Vaksman, DDS: A Small Practice Cuts Its Teeth on Social Media 177

13 Hank Heyming: A Brief Example of Well-Executed Culture and Intent 187

Conclusion 193

Part IV Sawdust 199

More Thoughts On ... 201

Part V How to Win in the Thank You Economy, the Quick Version 231

Notes 235

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Customer Reviews

Average Rating 4
( 32 )
Rating Distribution

5 Star

(16)

4 Star

(7)

3 Star

(6)

2 Star

(1)

1 Star

(2)

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See All Sort by: Showing 1 – 20 of 32 Customer Reviews
  • Posted May 29, 2011

    Meh starts strong but rambles by the end

    Lots of good stuff to start but it turned too shallow by books end. Gary is great and should be followed. Book? Not so much.

    2 out of 2 people found this review helpful.

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  • Posted April 19, 2011

    Helpful but not Groundbreaking

    I looked forward to reading this book because I've been a big fan of Gary for a long time. He was one of the first to utilize social media as a primary marketing channel to grow business.

    The book is good, but not great. His writing style is easy going and easy to absorb. His descriptions and explanations are good. Overall, he clearly understand the space and what it means to be marketing in the social space. There is a clear difference between broadcast media and social media and he walks through the differences.

    There were two things about the book that bothered me: 1) some of the business acumen was questionable. One my favorite quotes, "Wall St requires firms to be very short term profit driven." If only we could all think long term . . no need for budgets or profit targets. As with most social pleas, the ROI of efforts are hard to pin down in $ and cents. He goes a bit overboard trying to explain the value of having advocates. He should have focused on the obvious - you converse with your customers - you have a free channel of distribution.

    2) and this one is tough . . .anytime someone writes about their experience, its hard for them not to gloat about how awesome they are. Gary doesn't do it too much, but he does drag his ego into a few chapters. I'm sure it works for wine library - I'm not sure his approach would work at larger companies. If it did, they'd likely rename "work" "play".

    Otherwise it is a good read if you want to understand social efforts. There wasn't anything in this book that a user can't find on well read blogs or even on techcrunch. Similar to Groundswell - - it didn't shed light on anything new. Just reinforced how amazing the social space can be if used properly.

    Can one find out how to use social properly by reading the book? - yes. So, mission accomplished.

    2 out of 2 people found this review helpful.

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  • Posted April 2, 2011

    more from this reviewer

    What I say about you is more important than what YOU say about you.

    Excellent follow-up to the author's first book (Crush It!: Why NOW Is the Time to Cash In on Your Passion) and specifically deals with using every tool available to a business in order to show that they love and appreciate their customers. Businesses think they've got this covered "we say 'hello and have a nice day' everytime a customer buys from us" and they couldn't be more wrong. Saying "thank you" with style, panache, personality, and (most importantly) a personal touch is the way companies like Zappos, CD Baby, and (sadly) only a very few others (some of whom are profiled in the book) are standing out in a business environment where what a person's friends say about your business is waaay more important that what a brochure or advertising campaign says about a business.

    2 out of 2 people found this review helpful.

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  • Anonymous

    Posted January 30, 2012

    An awful waste of time

    Spend time with you family and friends. Don't waste your time reading this nonsense. This is nothing but a big waste of time. You would have to be clueless to find anything he says interesting.

    He simply worked at his Dad's wine shop and his Dad poured a lot of money to expand it and have someone build a website. They spent a lot of money promoting the business... simply put... they spent money to make money. Nothing new here.

    Gary specializes in self-promotion... nothing else. He is nothing more than a salesman and not a good one at that.

    He has since left his Dad's wine business because he didn't have the passion for it. A lot of people in the wine business were calling for his head due to the conflict of interest of he rating wine that he sells.

    He is now trying to act as a social media expert by trying to teach the fundamentals to anyone who will listen to him. He is all fluff and no substance. He'll be back working for Dad again because I can't imagine anyone paying him to say a lot about nothing. But heck, they say a fool is born every minute so maybe he can fool them. We'll see.

    This book is something to be missed... don't waste your time. Any commentary and ratings above 1 star (which is the lowest it will allow) is coming from family and paid friends.

    1 out of 2 people found this review helpful.

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  • Posted January 29, 2012

    Useful just don't expect too much

    An easy read with useful information surrounding increasing customer service and how in the age of cloud computing nearly everywhere is local..social media is relevant and powerful, but he drags on in places and the book is full of fluff. A decent read.

    1 out of 1 people found this review helpful.

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  • Posted June 30, 2011

    more from this reviewer

    Smart and savvy social media advice

    According to the French expression, "plus ça change, plus c'est la même chose" (the more things change, the more they stay the same). Marketing consultant Gary Vaynerchuk sees truth in these words. He argues that your great-grandparents probably knew the value of nurturing personal relationships with their customers, but their wisdom vanished when big corporations grew and managers found it more cost-effective to ignore customer concerns. Social media have changed all that, giving marketers the welcome opportunity to connect with current and potential customers in a manner unseen for several generations. If your customers like you, they'll use Facebook, Twitter, LinkedIn and other networks to sing your praises. If they don't like you, they'll spread that news just as quickly. Vaynerchuk's book might not be revolutionary, but it's a thought-provoking addition to the discourse on social media, and a light, well-argued, entertaining read filled with real-world examples. getAbstract heartily recommends it to managers, employees and customers - to everyone who expects open, honest and caring relationships in their business dealings.

    1 out of 2 people found this review helpful.

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  • Posted February 27, 2011

    Great ideas!

    GV knocks it out of the park again!!

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