The Thank You Economy by Gary VaynerchuckPosted: April 11, 2011
I was originally attracted to this book because Gary didn’t have a lot of knowledge on social media, but he intuitively knew that it was important for his business to participate, so he did. Through trial and error, time, and continued effort Gary’s business and blog grew.
Gary starts The Thank You Economy by using an example of an experience he had when he was a teenager working for his dad in his liqueur store. A customer came into the liqueur store wanting to use a coupon he’d just gotten for a purchase he made a week earlier at the store, but the store manager wouldn’t let him. Gary knew that this wasn’t the right decision and they’d probably just lost a customer and possibly more if this man complained to his friends.
Gary doesn’t believe you should focus all of your attention on the squeaky wheel or cater to every complaint, but social media is making the world smaller and business should treat people as individuals who live in their neighborhood. And by doing this you not only create a loyal customer, but you’re helping someone to become an advocate for your brand and this is the main focus of the his book. Gary uses a variety of brands and business sizes as examples and the tools they used or should have used to help them accomplish this.
The Thank You Economy is a light and easy to read book, but it shows how he applies social media to his businesses and became more successful because of it. One point and analogy he uses throughout the book that I found helpful is that social media is like running a marathon and not a short sprint. You may not notice immediate gains, but through trial and error, time and continued effort you will find you’re ahead of the competition.