Thank You Economy Book Report

Who is Gary Vaynerchuk? If you don’t recognize that name, just ask anyone in their twenties about GaryV. He is the social media business guru of the Millennial Generation. Not only he dominates his field and leads millions of followers through his advice and posts, Gary Vaynerchuk, 42, is a maverick entrepreneur and the CEO and co-founder of VaynerMedia, a full-service digital agency, with $100 million in revenues, servicing Fortune 500 clients. He has redefined the practice of marketing and streamlined it via social media avenues. His clients, such as General Electric, Anheuser-Busch, Mondelez and PepsiCo can only attest to the new and powerful shape digital marketing is redefining the field. Gary is social media marketing. Not only he professes

Moreover, “The Thank You Economy” goes to reveal how businesses can harness all the changes and challenges inherent in social media and turn them into massive opportunities for profit and growth. He explains how in modern day society, businesses must learn to adapt their marketing strategies to take advantage of the new digital platforms that have completely transformed consumer culture and society as a whole. Throughout the book, he discusses why corporate America is fearful in changing its work culture and marketing tactics, slowly adapting to a field it hardly comprehends, a field born and driven by young entrepreneurs, constantly evolving, changing the marketing landscape under the fleeting eyes of senior executives as it is impacting rapidly and positively their bottom lines. Gary details how specifically to take advantage of each social media platform, and why culturally it makes sense to do so in a world where consumers have different expectations and capable of navigating various digital marketing venues. One would ponders, what is the future potential of social media in this marketing

Gary Vaynerchuk states that before, “marketing” was driven by the idea of selling a product by force through advertisements and billboards, to consumers. Nowadays, “marketing” is not about selling your product but about selling what the consumer wants, and as such social media is the medium which allows corporations to have direct communications with their consumers. Ultimately, the corporation that has the deepest emotional connection to its consumers will win the game. “The Thank You Economy”, is about how we are living through the ‘humanization of business’. It is generally a given that everybody cares about the content produced. However, “Quality content is king. Always. But from now on, quality content must be followed up with quality engagement.” In the past, communication between corporation and consumer was a one way street since businesses were the only ones who could advertise and consumers could not respond. Consequently, businesses are “massively stuck in talking too much”. The massive cultural shift isn’t when the public adopted the Internet, it was the two way stream of conversation between consumer and corporation. Due to social media, we have, especially nowadays, the ability to intimately listen to what our consumers want. Social media is allowing for this to happen, it is allowing for engagement. According to Gary,