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Book Review: The Thank You Economy
Written by: Milly Welsh
Published: August 2011
As a web developer, I get a lot of questions about social media, particularly on whether social media is worth investing the time in. Most people want solid proof that social media has a return on investment before jumping in, but I’ve found that definitive evidence is hard to come by. Also once a business decides to do social media, they often don’t know when to begin. To further the confusion, an explosion of social media companies have emerged that offer to take over this seemingly daunting task, for a costly monthly fee. Is it worth it? Can social media be effective with your unique business? These are all good questions and to help answer them I’ve been looking for a resource that can clarify the real benefits of social media and explains how to do it and do it right. The Thank You Economy by Gary Vaynerchuk Is the resource I have been looking for!
The first thing Gary tackles in the book is how social media has changed the landscape of marketing today. The days of companies simply bombarding us with messages on radio, print and TV are over. The Internet and social media have revolutionized advertising. Consumers now have a choice. They choose whether or not to engage in your company and your message. The result is a much more even playing field between small and large organizations. Companies have to show that they care and they have to mean it. It brings us full circle to the days when we spent money with a business more because we knew them and we trusted them, not just because they were cheaper, more convenient or well known. The goal in social media is not just to get customers to buy from you, but to treat them so well they will turn into advocates who will help spread your message all over the world in real time.
Caring is a common theme in the book but he doesn’t stop with the consumer, he also stresses the importance of caring for employees. Before you can truly succeed at social media, you have to know who you are. This means defining and promoting a positive culture that works well in the organization. Once this culture is in place, it not only makes it easier to come up with what to say, but it encourages your employees to promote the business on their own social media platforms.
In the book, the question is never ‘should my business start using social media?’ The question is ‘why have I convinced myself that there isn’t a value in it?’ Gary equates it to getting on a train; people assume that there will be another one coming down the track, but in waiting too long you may discover that everyone else is now on to a new form of transportation. The excuse, I hear most often when I talk to businesses that have not yet jumped on the social media band-wagon, is that it just won’t work with their particular business. Gary Vaynerchuk puts these excuses to rest by showing how a restaurant, a lawyer and even a dentist can be successful at social media.
This book is a must read for anyone who owns a business, whether they are currently already using social media or not. The only downside is that Gary is an obvious Jet’s fan, making numerous references to them (Boo…Go Pats). Despite this, I give The Thank You Economy it my stamp of approval.
Milly Welsh
Milly Welsh is the Priority Learning webmaster and Owner/Operator of Zebralove Web Solutions, a web development company located in southern Maine.
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