Over the course of the holidays, I am taking the opportunity to disconnect a bit and get a started on brainstorming for the New Year. To help you do the same, I am sharing some of my favorite posts from the new eBook, “What Matters Now” that was compiled by Seth Godin. You can download the eBook in its entirety here.
Thnx by Gary Vaynerchuk
“Social media” facilitates direct engagement with consumers to an unprecedented level, fundamentally shifting the concept of customer service. No one expected the CEO of Pepsi to ring their doorbell or call on their birthday. It wasn’t feasible. But now, the cost of interaction has plummeted. I can thank someone by texting “thnx” from my cell phone
between meetings, or hang out on Ustream answering questions, or send an @ reply on Twitter. All at minimal cost.
Every CEO and business must recognize that customer service is now their primary business. What was unreasonable becomes essential; the empowerment of the individual consumer affects every brand.
In this world content creation becomes imperative, the initial engagement. When you are transparent and engaging, the result is what I call the “thank you” economy. I gave away information for free—online videos and keynotes with content similar to my book. Monetizing that scenario sounds difficult but wasn’t. People didn’t buy 1 book, they bought 4 or 5 copies as a thank you for what they had already received.
I believe the thank you economy will become the norm in 2010 and beyond, and brands that fail to adjust will be left out in the cold.
Gary Vaynerchuk is the author of the New York Times bestselling book, Crush It! Why Now is the Time to Cash in on your Passion. He dispenses business advice on his personal blog.