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The Thank You Economy Summary – September 2022

Author: Gary Vaynerchuk

Short Summary
The Thank You Economy (2011) is a refreshingly simple and practical guide to the new world of business. It shows you how to cultivate real relationships with customers online, which will make all the difference when it comes time to sell your products or services. This book offers many useful tips for those looking to take advantage of this new trend in marketing.
the thank you economy
Source: amazon.com

Detailed Summary

The internet has created a lot of opportunities for businesses and consumers alike. But it also brings about challenges, as well as opportunities for both sides of the relationship. The ability to connect has resulted in an increased level of trust between companies and consumers. This has led to a more hands-on approach from consumers who want more of a personal touch from businesses.

In, The Thank You Economy, the author looks at how technology has changed, how we communicate with one another, and what it means for business today. He also looks at how this shift will continue over time, as new technology continues to change our lives in ways we’ve never seen before. It also talks about how companies can use social media as a way of promoting themselves within their industry. For example, Coca-Cola has been able to use social media as a way of attracting young people into its stores by creating competitions that are easy to enter by using Twitter and Facebook.

Finally, it looks at how businesses can use social media to communicate with customers to make sure that they get what they want when they go shopping or when buying products from their websites. The Thank You economy is the new normal. It’s how we interact with each other, and how businesses are trying to engage with their customers.

The Thank You Economy Key Points

The age of social media has made 1-on-1 customer service obsolete

Customer service is a pretty hot topic right now, and there are plenty of experts who love to talk about it (we’re not pointing any fingers). But the problem with most advice on customer service is that it recommends approaches that have worked in the past. This is all well and good, except for the fact that today’s customers are a different breed. Whether you’re a small business or an enterprise-level company, customer service is essential to your success.

According to The Thank You Economy, social media has made 1-on-1 customer service obsolete. Customers want their issues handled immediately. They don’t want to wait on hold. They don’t want to contact you again and again. Customers expect one-click solutions, and they expect businesses to say ‘thank you in return for their business. And here’s the kicker: they’ll take their business elsewhere if you don’t deliver. Social media is like a giant amplifier — it amplifies everything we say, post, and do. And while this is true when you’re talking about business-to-business interactions or brand building on social media, it’s also true when you’re interacting with your customers directly.

Your customers want to feel like they’re getting a personal connection with the people who are running their businesses. They want to feel like someone is listening to them and responding to them directly — not just responding through automated systems or using canned responses.

Don’t take part in social barriers if you want to keep alive well

The best way to get the most out of your social media presence is to combine it with other forms of marketing. Social media is a great way to engage with your fans, but it’s not a replacement for traditional marketing tactics like email and phone calls. Social media is good for getting in front of your audience quickly, but you need to mix up your content. Telling a story that circles across all of your channels are a powerful way to keep your fans engaged and curious and gets far better results than just transmitting on one channel.

It’s also important that you don’t just broadcast the same thing to all your channels at the same time — different times of day and days of the week are better for driving traffic back to social media posts than constant posting. For example, if you’re launching a product or service, tell your story through Facebook, Twitter, Instagram, and Snapchat (or whatever else you’re using). But don’t just post about what it is; also talk about how it makes people feel or who it’s for. And don’t forget to share some customer testimonials. When you have a story to tell, it’s no longer about just one piece of content. It’s about the whole thing — from start to finish, in every single channel you use to tell the story.

The less control you have on social media, the more personal space you’ll get

The Thank You Economy explains that the day you decide to live any approach yourself is the day your company will thrive. It’s easy to tell employees what you want, but it’s much more difficult to show them how they should go about it.

Social media has become a vital part of the business world. It is no longer a question of “if” but “when” your company will get on board with Facebook, Twitter, LinkedIn, and other social platforms. But don’t worry if you have yet to jump on this train. There are ways to start without having to go all in. The first thing is to show your team that you’re as passionate about social media as they are. Make sure they see it every day in everything you do, from your posts on Facebook to the way you talk about their work at meetings and beyond.

Your employees will not only feel more valued for their efforts but also more invested in their work if they know that the CEO cares about how well everything is going. Make sure your team understands how much you care about every single customer and make it a point that they do the same. When it comes to social media, you can’t just give a damn about what the customers say about your company. You need to show them that you care by being active on social media and interacting with people regularly.

The Thank You Economy Quotes

“Too many people are scared to share their visions and thoughts in public or even in board rooms. Having a strong vision is important for your brand. Don’t be afraid to say what you think. Ever. That said, don’t forget to listen, either.” –Gary Vaynerchuk

“Because when it comes down to it, the only thing that will never change is human nature. When given the choice, people will always spend their time around people they like.” –Gary Vaynerchuk

The Thank You Economy Review

The Thank You Economy is a great book on how you should behave with your customers either traditionally or digitally to grow your business. The best thing to learn from Gary is how to be nice to your customers/fans, listen to them, and engage with them on a deeper level.

To whom I would recommend The Thank You Economy Summary?

  • Anyone who thinks that social media does not matter.
  • Any marketer spends most of the budget on traditional marketing.
  • Anyone who is not active on social media.
The Thank You Economy Summary - September 2022

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