owen at owengreaves dot com

Gary Vaynerchuk – The Thank You Economy

The month of March has been great for new books in my office, I love social business books, and I like this one, Gary has a special way of saying what’s on his mind and what he sees. CRUSH IT was just a sampling of what’s yet to come out of Gary, he describes his first book as his Keynote(s), and this second book is his consulting. This book is packed with example after example, be sure to pay attention while reading.

I finished the book today, I am full, this book has more to digest than CRUSH IT, more to think about, and it makes you look at your own business again and again. The book grabbed me right from the first paragraph, why, I’m older and remember small town thinking, maybe you do to. Everyone knew each other, everyone helped each other for the most part, and we watched out for each other. The neighborhood watch was invented back before Jesus walked the land. The first chapter has you reminiscing, Gary starts the book with, “Think back on the last time someone did something nice for you.”

That opening sentence really sets the tone for the rest of the book, I’m sure that’s no accident, he touches the nerve-endings that make you remember back to a better day. A couple paragraphs jumped out at me, ironically, near the end of the book, but I enjoyed the book from beginning to end.

Gary says, “the biggest disconnect for business leaders is in their understanding of how they should treat customers they meet face-to-face, and how they should treat the ones they meet through their computers, iPad, iPhone and what have you, there should be no difference.” He’s right of course, I’ve always said, Social Media is not new, it’s just gone digital, so your off-line conversations have merely moved to the Internet.

Later on he makes another interesting statement, “companies that soar in 2011 and beyond are those that will figure out a way to balance the short-term demands of what wall street or investors with the long-term demands of The Thank You Economy.” Think about that for a moment, maybe read it again.

I loved his few words on how fear blocks innovation:

“It’s becoming more unusual for a big consumer brand to really innovate and create a great product. Vitamin Water didn’t come from Coke; Pom didn’t come from Pepsi. Too many companies get stuck in the muck of their own fear and short-term concerns, which prohibits them from taking risks and following through on great, creative thinking. They’re too wrapped up in meetings and procedure and stock value, or worst of all, the politics of keeping their jobs, whereas smaller, scrappier companies are often still ruled by passion and have the freedom to experiment.” WOW! I couldn’t say this better!

On page 228 he lists the biggest mistakes companies make with social media, keep in mind this what most companies and individuals do in my humble opinion, here is Gary’s list:

1.) Using tactics instead of strategy

2.) Using it exclusively to put out fires

3.) Using it to brag

4.) Using it as press release

5.) Exclusively re-tweeting other people’s material rather than creating your own content

6.) Using it to push product

7.) Expecting immediate results

I’m not going to add much here, I can’t improve upon anything Gary shares in his book(s). As a futurist, I see much of what Gary claims, and some things he doesn’t, in the end we are shouting from the roof tops to pay attention to what’s going on in the world of business. Great book Gary, thanks for being who you are.

I hope you enjoy the book, if you don’t have it, you can buy The Thank You Economy right here.

Gary’s point is this, The Thank You Economy is about the life-time value of a customer, brands / businesses need to be human, period.

Tell me, did you like the book, and what was the best part for you?

About Owen Greaves

I'm a Futurist, I write, speak, and teach the open & free business model, the future of business. Create. Differentiate. Deliver.  

2 Comments

  1. JMattHicks on March 18, 2011 at 10:50 AM

    This a book that, when I first heard about it, though, “great, another social media book from another social media expert.”

    Then I heard Gary speak. This dude is legit. And by legit I mean his philosophy has my 100% endorsement…and I’m admittedly a huge snob when it comes to endorsing digital/social media experts.

    Simply put the guy gets it better than anyone else, and that’s why he has the success and the following that he does.



    • owegre on March 18, 2011 at 7:47 PM

      Yep, there are a few others out there you may want to pay attention to, Olivier Blanchard (@thebrandbuilder) Chris Brogan, Trey Pennington, Scott Stratten just to name a few others. I preach the Future of Business, what’s coming and how it will impact / effect your business. Most of the people I mentioned are mentors in the Social media sector, I lokk at Social Business, Mobile Business, and how the younger generations will rewrite the book on business.

      Thanks for your comments and coming to my site.

      Owen