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The Thank You Economy
Gary Vaynerchuk

June 2011


"When caring meant business"

This is a great book to give to managers, superiors, or other people you would like to convince of the importance of social media. With his usual energetic way of talking Gary makes this book easy and a pleasure to read, with some very clear examples of companies that have ventured successfully, or not so successfully, into the social space.

Gary makes very clear that the essence of social media is delivering a great service to your customer and that social media is thus not new.The new technology of internet just allows the customer to recapture power from the big corporations and it allows for a return to the time when the customer was king. Actually he states that the new way of doing business in the Thank You economy should be done both on- and off-line and is not just confined to social media, nor is it confined to any industry. Social media has empowered the customer and businesses who accept this and adapt to the new culture will survive, while others will be seriously hurt or even disappear.

A very important aspect that is different from former innovations in business is that according to Gary, companies that do wait to see what will happen to social media will not be able to catch up, no matter how much money they wil throw at it. It is all about creating serious positive relationships with your customers, something that you cannot do overnight and throwing a lot of money at those customers later on is not going to buy their relationship with you. Thus companies need to jump on the band wagon now or trail behind forever.



 
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Social media

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  CASE STUDIES
Some examples of social media and social media marketing campaigns that caught my attention:

United breaks guitars
Still an excellent example of how social media can damage a companies reputation and how this tends to stay for a long time.

 

 
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