Gary Vaynerchuk, the wine seller who became an internet sensation with his Wine Library and his books on wine, has expanded his writing to a book about the impact of Web 2.0 on businesses and consumers today. His book, The Thank You Economy, is a compelling and good read and has been a best seller due, in part, to Vaynerchuk’s own clever self-promotions on Twitter. Many of his followers knew about the book before it was even in bookstores. “Small town living moves online,” encapsulates the theme he keeps coming back to throughout the book, that social media has made businesses listen to their customers, because their customers now have voices online.
Our morning social media browse to check in on what everyone has been up to became the equivalent of the old-timers’ early morning stroll to the diner for pancakes and coffee. It’s an interesting theory and one that can be heartening in a fast-moving world of technology, but it also calls all business owners to pay attention and keep up with this changing environment, even if it means borrowing from another time. According to Vaynerchuk, businesses have to get back to paying attention to their customers, because their customers are online, and it’s a philosophy that every employee has to adopt, in order for it to work. It is a cultural revolution for each company. The company culture is what helps create the company brand and move it online and elsewhere, so that it is heard. Vaynerchuk sites Zappos as a company that has succeeded in creating a forward-thinking culture.
It is a place where employees are happy and customers are happy with the care they are given. Jeff Bezos of Amazon fame, recently bought Zappos for what many considered to be an exorbitant amount of money. Vaynerchuk sees it differently. He feels that Bezos saw that Zappos was on to something, that people were buying things from Zappos, even if Amazon could sell them for less. It was the company culture of Zappos that was so appealing to its customers. Vaynerchuk uses other examples of companies that have succeeded (and those who haven’t) in this new economy. Those who have succeeded have done so by creating a positive work place for their employees, who in turn, create a positive experience for their customers. These companies are also using social media to be there for their customers and to promote themselves by word of mouth, an old-fashioned method in a high-tech world.
Now, this old-fashioned method can be heard by a multitude that extends well beyond the “old neighborhood.” The Thank You Economy is a book that can prompt discussion. It’s the perfect book for any business person finding his or her way in the world of social media and marketing. Vaynerchuk says that “social media gives us the opportunity to figure out what people want before they even know they want it.” It’s up to us to pay attention to what is being said.
