A Book Report on Thank You Economy
Gary Vaynerchuk wants to buy the New York Jets and he’ll step on your face in order to do it. This entrepreneur builds businesses from wine stores to digital agencies, is a venture capitalist, angel investor, philanthropist, speaker, author, and the social media personality @garyvee. I had the pleasure of recently reading, The Thank You Economy.
Changing with the Times
Gary was an early adopter of permission email marketing, YouTube, and many of the social media platforms. While companies were resistant to adopt social media near the beginning of Web 2.0, Gary was using all of them to engage with new audiences. He recognized the future was moving to digital and was not romantic with how business had been done for the past 50 years. Early adopters reap the benefits of being an early authority on a platform when there’s less noise.
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Gary is big on engagement and his book reflects it. Engagement is the point of The Thank You Economy. Too many companies put out content or advertisements but never engage after awareness has been created. Gary stressed having conversational social media. It will establish relationships between yourself and your followers. This will turn them into 1,000 True Fans.
Engagement will also teach you what your customers want. After you have established a relationship, you can ask your followers what is troubling them or what problems they have. You, as a business, can then reverse engineer the customers’ problems and offer products or services that will sell since they fulfill a real need.
Gary’s thesis in business, life, and the book is simple. You should provide value by giving content, entertainment, and advice through engagement. He brings 51% of the value in every relationship. Once you have established a relationship, then you can pitch a sale. Always contribute more to a relationship than what you receive. Good advice, Gary, and excellent book.
Featured Image Credit
Gary’s Youtube Channel