Sep 26, 2011

The “Thank You” Economy--Missing Link to the Social Media Story?

The Thank You Economy
I just finished reading The Thank You Economy by Gary Vanderchuck. I won’t use the word “revolutionary” because I his ideas are entirely expected and are  indeed the “next step” in understanding how to influence the process of purchasing services. If I had no clue about the importance of social media to building a successful professional services business, I would now.  The Publisher’s Product Description provides a good set-up:

“If this were 1923, this book would have been called "Why Radio Is Going to Change the Game" . . .
If it were 1995, it would be "Why Amazon Is Going to Take Over the Retailing World" . . .
The Thank You Economy is about something big, something greater than any single platform, no matter how revolutionary. It  isn't some abstract concept or wacky business strategy—it's real, and every one of us is doing business in it every day, whether we choose to recognize it or not. It's the way we communicate, the way we buy and sell, the way businesses and consumers interact online and offline.”

The author does a great job explaining how the rise of the communications we call “social media” will combine with behaviors of successful customer-centric companies to turn the marketing calculus on its head.

Find out how companies big and small can scale personal, one-on-one attention to their entire customer base, no matter how huge, by using the same social media platforms that carry consumer word of mouth. The Thank You Economy offers compelling, data-driven evidence that we have entered an entirely new business era, one in which the companies that see the biggest returns won't be those that can throw the most money at an advertising campaign but the ones that can make their customers feel that they care the most about them. 

The businesses and brands that harness the word-of-mouth power from social media to shift their cultures to be more customer-aware and fan-friendly, believes Vanderchuck, will be successful in getting and keeping customers over the long term.