2. Praise for The Thank You Economy
Gary has seen the future of marketing. The TYE shows how
it’s built on both the time-honored techniques of listening to
& appreciating customers & the newer services like Twitter
that allow you to engage directly with customers at
unprecedented scale & speed.
Dick Costolo, CEO, Twitter
Appreciation is the secret to building sustainable businesses,
and Gary has crystallized why it matters more than ever in the
world of multi-platform commerce and media. If you want to
build a great business, you should read this book.
Fred Wilson, Co-Founder,
Union Square Ventures
3. OBJECTIVE
Building blocks to create a powerful company
culture.
Developing Traditional & Social Media Marketing
Strategies
Using good intent to set everything in
motion.
Delivering superior experience to customers
without investing lot of money, just a lot of heart.
4. EFFECTS OF ONLY INTERNET
Illusion of 24/7 customer service
Waste of time in search of a phone number, email address
in order to ask a question or report a complain
Companies outsourced their customer service
Deteriorating customer value
5. “Social Media is a bit like a kidney, you can survive with only one but your
chances of making it to old age are a lot better with two. Eventually, Social
Media will be as important to a business as a strong heart.”
– Gary Vayner, 2011
• Cultural Shift
• Humanisation of Business
• People talking about the commercials, likes, shares
and discussions over TV commercials & Billboards.
6. There’s no ROI
Social Media is still too young
Social Media is just another trend that will pass
Fear of negative word of mouth
Unable to track & update their social media department
We’re doing fine without it
We tried it; it doesn’t work
It takes too long to pay off
Social Media works only for star-up, life style or tech
brands.
8. How to Win in The Thank You Economy
Instill the Right Culture Empower People
9. Instil the Right Culture
Culture Building Blocks:
Begin with yourself
Commit whole Hog
Set the tone
Trust your People
Invest in Employees
Be authentic
10. Present your Heart & Soul to
Customer.
Appreciate the Customer.
Customers are KING, make them
feel so.
Empower People
11. Intent: Quality vs Quantity
- Social Media
If your intentions are good - it draws people to you.
Make connections! (Contacts are not enough.)
Go close to the emotional center.
Follow core principles.
Evoke an emotion - compel people to share.
"Use social media campaigns to create an
opportunity for engagement, not to force it."
"Simply talk, and listen."
12. Send a rose or a handwritten
condolence!
Create amazing customer
experience.
Collect data about your
customers,
it helps you paint a picture of
them.
Be flexible.
WALK THE EXTRA MILE
13. Going Where the People Go
•It showed up
•It showed up first
•It remembered that behind
every B2B transaction, there's a
Editor's Notes
This book was written in the midst of the heated discussion that whether Internet is a revolution for business world or just a myth.
People who were sceptical towards Social Media, this book showed a true mirror & people who believed in strength of Media got their beliefs verified.
Bibliography of Gary Vayner. Wine Library co-founder
With power comes responsibility
Outsourcing: customers struggled with script reading foreigners
Deteriorating: Customers felt helpless, companies had nothing to fear as now they had a wide customer base beyond a local zip code.
With the inception of Social Media
2010: "85% US consumers would pay 5-25% more to ensure a superior customer experience.“ 66% said great customer service was their primary drive for greater spending.
NECESSITY IS THE MOTHER OF INVENTION
Conventional advertising is very expensive
Ads through Internet are cost effective
Appreciate the customer even their criticism.
This is a perfect example, of how a B2B Company can also use Social Media for accelerating its growth. Their aim was to answer the technical questions of consumers. They were able to save 50% of their consumer base.