1 Notes
@GaryVee’s “Thank You Economy”
If you are a social media, PR or marketing practitioner, or a brand manager on any scale, pick up a copy of Gary Vaynerchuk’s Thank You Economy. Vaynerchuk’s follow-up to his NYT best seller, Crush It!, is a playbook for how a company could and should develop online, by focusing on the often overlooked basics.
Gary should know - he’s lived it.
I pulled out a few of my favorite key quotes from it, and provide a little of my own POV on them.
-DP
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“…the recipients of that information and opinion more often care about the individual sending it to them. Middlemen, pendants and spokespersons no longer have a monopoly on the widespread distribution of a brand or a company’s message.”
As much as, if not more than messaging and content, the messenger and the means of delivery matter in having a brand’s message resonate with consumers. This is not the same as an influential blogger simply posting a branded video - it’s about them contributing to the message and content and integrating their expertise while building a relationship with them for a coordinated, sustainable dialogue.
“It’s not about the number of followers you have or the number of “likes” you get, it’s the strength of your bond with your followers that indicates how much anyone cares about what you have to say. In this game, the one with the most real relationships wins.”
The way I’ve built my network is based on trust, sincerity and mutual interests beyond economic. Because of that foundation, the business relationships are able to develop over time and when they do, all parties recognize and respect the other’s interest. It’s no different with brands. If a brand is always pitching and selling without first establishing a trusting online relationship, skepticism is inevitable and the relationship is a week one.
“…if you succeed with social media, it won’t be because of the platform; it will be because you acknowledge that culture and consumer expectations can change.”
It’s easy to become infatuated with the newest technology, platform, app or digital community - and we should! Embrace them! But at the heart of it, an authentic understanding of the community’s interests and needs trumps everything. Don’t be a mile wide and an inch deep. Online communities will quickly see through gimmicks. Dig deeper. There is no silver bullet.
“…the drawback to resisting social media engagement is clear: the longer you wait the farther the competition can pull ahead.”
Pretty self-explanatory. Too often we are reactionary to the latest trends rather than investing in building relationships and being out in-front of where consumers are congregating. We wait for someone else to take the risk, instead of being courageous and creative enough to try and succeed in new arenas. While early doesn’t equal authentic, it at least shows your willingness and appreciation for communities and the way they want to be messaged (not how and where you want to message them).
“A lot of companies resist building a Facebook wall, blogging or starting a Twitter or YouTube account because an irate customer might post negative comments. So what? Would you prefer that the customer post them somewhere else where you have absolutely no way to reply? …If you’re afraid of your customer, you might want to take a closer look at how you’re doing business.”
If your product or brand is superior, you should be able to address the complaint or criticisms with factual justification. If you can’t, then the complainer is doing you a favor – he or she probably isn’t the only one with the criticism. You can acknowledge publically, express your understanding and appreciation and work to fix the problems.
“Controlling their message and their image explains why so many – too many- companies still refuse to allow their employees to publically blog or tweet about their work…there may be no better way to know for sure you’re making smart hiring decisions. Allow your employees to talk freely, let them say what they want, because then you will have a much clearer picture of who your employees are and how they feel about your company.”
If you can’t trust your employees to be honest, transparent and professional enough to carry the message of your own company, how can you justify them doing so for your clients and/or your product?
“Companies that resist the Thank You Economy are going to see an exodus of talent. The people who understand where the culture is going but don’t get the support from their companies are going to find the courage to leave for new pastures.”
Such is the nature of not only Gary’s “Thank You Economy,” but also the democratization allowed by the omnipresent social media-driven world we live in where the entrepreneurial sprit strives. As Gary advocates - put the best people in the best positions to succeed. Do not look at your social media manager as an add-on or something to throw at an intern. As the new economy plows forward, and people find new ways of both communicating and consuming information, these are the warriors you want on your front lines - ones that are flexible and creative enough to think, adapt, act and react in real time.
