The Thank You Economy – Gary VaynerChuk

In 2011, at times of economic turmoil, it is surprising to hear someone say “thank you, economy!” While many companies are going through hardship, some entrepreneurs know how to transform ideas into success. Think about it; being successful during the Glorious Thirty Years is the least you can ask for; being successful in times of crisis really means success.

Gary Vaynerchuk is one of those genius entrepreneurs who turned around his family business—a wine store—and made his gross income jump from 4 to 60 million dollars.

In this book, Gary explains how he sees the business world and how we are witnessing an extraordinary revolution. This book doesn’t explain social networking to marketing or communications professionals; it explains the revolution that they are bringing to the CEOs. In fact, he can’t stand the term “social media” and prefers to speak of “relationship media.”

He learned from his family that it takes more than a beautiful counter and good products in order to sell. One must welcome the potential customers, make them want to come back, and not with a coupon. A personalized and honest relationship is key. Twitter, Facebook and others offer new possibilities that are based on the same foundations. Gary presents the big principles that can make this era of economic transition successful for his business. Each principle is illustrated by an example of success or failure. What a pleasure to see the mythical advertising for Old Spice taken apart for the first time to show that what could have been a worldwide success turned out to be a damp squib. The ad is great; a ping-pong game took place, but P&G was unable to establish a real relationship with all those who were interested in the product. At this point, 160,000 subscribers to the Youtube channel have no relationship to the brand.

Gary’s advice is useful both for large and small businesses. His approach to culture is smart, utilitarian and pragmatic. All entrepreneurs should read this book. Along with Gary, we thank the economy, this new era in which the best customer relation and the best product can supersede the one who buys the most advertising space. Thanks to the return of relationships as the core value of business.

 

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PCBC 2012 – Gary Vaynerchuk Keynote

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