Friday, March 11, 2011

The Thank You Economy

One of the blogger/online experts that I follow is Gary Vaynerchuk. He is well known for his family business www.winelibrary.com. He is also well known for http://tv.winelibrary.com/ which is his video blog about the wine industry. He has also developed a media company and has written two books. The latest book is the Thank You Economy which has been widely reviewed. One review was in Entrepreneur magazine.

I have not bought the book yet but I will. Gary has been sharing the Thank You ideas now for a few months and this article in Entrepreneur magazine seems to do a nice job summarizing some of the key ideas.

Gary believes with the increasing use of social media that companies are now going to have to return to the one-on-one approach to communicating with customers. This is similar to the small town business who knew the customers and treated them with respect because in a small town a bad reputation can spread easily and a business can be hurt. Business at one point became more mass marketing and large companies didn't need that one-on-one relationship. With social media exploding as a communication device - it's easy to turn off a person and then have that person Facebook or Tweet a negative comment that can spread like a wildfire. Social media is changing how companies have to interact and treat clients.

In our business we are fortunate enough to be small enough that personal contact is much easier. We can interact with each customer on a personal basis during each project. I believe this puts us in a wonderful position as our economy continues to change and evolve.

I am looking forward to reading Gary's book and I am sure it's a book that every person in business, sales or marketing should read and share.

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