The Thank You Economy
Page 19
You can see: Loïc Le Meur, “Does My Dentist Really Need a Facebook Fan Page, You Tube Channel, and a Twitter Account?”, Loïc Le Meur, July 9, 2010. http://www.loiclemeur.com/english/2010/07/does-my-dentist-really-need-a-facebook-fan-page-youtube-channel-and-a-twitter-account.html?utm_source=feedburner
&utm_medium=feed&utm_campaign=Feed%3A+loiclemeur+%28Loic+Le+Meur+Blog%29.
From there, TechCrunch picked up the story: Leena Rao, “How Social Media Drives New Business: Six Case Studies,” TechCrunch, July 17, 2010. http://techcrunch.com/2010/07/17/how-social-media-drives-new-businesssix-case-studies.
While the new crop of law school graduates: John Schwartz, “A Legal Battle: Online Attitude vs. Rules of the Bar,” New York Times, September 12, 2009. http://www.nytimes.com/2009/09/13/us/13lawyers.html?_r=1&hp.
Even attorneys who know their stuff: Ibid.
In an article for the Nieman Journalism Lab: Justin Ellis, “Twitter Data Lets NPR Glimpse a Future of App-Loving News Junkies,” Nieman Journalism Lab, October 8, 2010. http://www.niemanlab.org/2010/10/twitter-data-lets-npr-glimpse-a-future-of-app-loving-news-junkies.
Selecting for demographics: Lyn Schafer Gross, “Ratings,” The Museum of Broadcast Communications. http://www.museum.tv/eotvsection.php?entrycode=ratings.
In 2009, there were about 114,900,000: “114.9 Million U.S. Television Homes Estimated for 2009–2010 Season,” Nielsen Wire, August 29, 2009. http://blog.nielsen.com/nielsenwire/media_entertainment/1149-millionus-television-homes-estimated-for-2009-2010-season.
Of those households: “TV Ratings,” Nielsen.com. http://en-us.nielsen.com/content/nielsen/en_us/measurement/
tv_research/tv_ratings.html.
The sample does get broader: Gross, “Ratings.”
A quick search on the Internet: There are many confessions to pick from: Christopher Lawrence, “Life on the Couch: Being a Nielsen family serious business,” Las Vegas Review Journal, March 22, 2009. http://www.lvrj.com/living/41647782.html; “The Nielsens,” “Confessions of a Nielsen Family,” New York Daily News. http://www.frankwbaker.com/nielsenconfessions.htm; Anonymous, “My Life as a Nielsen Family,” Slate, July 15, 1997. http://www.slate.com/id/3809/entry/24393/; James C. Raymondo and Horst Stipp, “Confessions of a Nielsen Household,” American Demographics, March 1997. http://findarticles.com/p/articles/mi_m4021/
is_n3_v19/ai_19165304/pg_2/; and Mary Beth Ellis, “Confessions of a Nielsen Viewer,” MSNBC.com, March 27, 2006. http://today.msnbc.msn.com/id/11716703.
In 2009, the company released a report: Michael Schneider, “Fox Wants Answers from Nielsen,” Variety.com, May 18, 2009. http://www.variety.com/article/VR111800392,4.html?
categoryid=14&cs=1http://www.variety.com/article/
VR1118003924.html?categoryid=14&cs=1.
Nielsen issued a 2010 report: “Americans Using TV and Internet Together 35% More than a Year Ago,” March 22, 2010. http://blog.nielsen.com/nielsenwire/online_mobile/three-screen-report-q409.
In the 1940s and ’50s: Television Obscurities, Nielsen “Black Weeks,” February 9, 2009. http://www.tvobscurities.com/articles/nielsen_black_weeks.php.
it was common for television series producers: Jim Cox, Sold on Radio (North Carolina: McFarland, 2008). 46. http://books.google.com/books?id=RwVkMMLqMdkC&pg=PA46&lpg=PA46&dq=%22How%27s+your+Hooper%3F%22&source=bl&ots=qUfAze9xT0&sig=,
GNOC0Q7nTJ4gILmjquxsJPdRboU&hl=en&ei=pQOhTKL-N4L88AbZmsyNAw&sa=X&oi=book_result&ct=result
&resnum=5&ved=0CCYQ6AEwBA#v=onepageq=%22How%27s%20your%20Hooper%3F%22&f=falsehttp://en.wikipedia.org/wiki/C._E._Hooper.
In a complete revamping of their marketing strategy: Ilan Brat, “The Emotional Quotient of Soup Shopping,” WSJ.com, February 17, 2010. http://online.wsj.com/article/NA_WSJ_PUB:
SB10001424052748704804204575069562743700340.html.
“Most Brands Still Irrelevant on Twitter”: http://adage.com/digital/article?article_id=145107.
Date: Wed, 22 Jul 2009: Tony Hsieh, “CEO Letter,” Zappos.com, July 22, 2009. http://blogs.zappos.com/ceoletter.
The 2010 Grammys experienced a 35 percent hike: http://www.variety.com/article/VR1118014540.html?categoryid=14&cs=1&nid=4749.
ACKNOWLEDGMENTS
Many people helped make this book what it is, but I want to especially thank Debbie Stier, Stephanie Land, and Marcus Krzastek. These three are as much the backbone of this book as I am.
I also want to thank everyone at HarperBusiness, VaynerMedia, the amazing people at the Brooks Group, and all my friends who took the time to read for me.
Many thanks to all of my family and friends for their support, especially my mom, Tamara, and dad, Sasha, who are always in my corner. Without my dad’s courage, I would not be in this wonderful country, or where I am today. Also thanks to my amazing sister, Elizabeth, whom I truly admire; my wonderful brother, AJ, who is my best friend forever; my wife and daughter, who make me never want to leave in the morning, and always want to rush home; and my grandmother Esther—I love you.
I’m also grateful to my extended family—my brothers-in-law, Alex and Justin, who are just the best; my wonderful sister-in-law, Sandy, whom we just welcomed into the family; and my amazing in-laws, Anne and Peter, who are truly golden people. Peter, I hope all your friends and business acquaintances read this book.
Thanks to Bobby Shifirn and Brandon Warnke, who are my friends for life. To all the Vayniacs and supporters of what I do, you mean the world to me!
Can I thank Stephanie Land one more time? Best ghost writer in the world. I adore her.
About the Author
Gary Vaynerchuk is a serial entrepreneur who has revolutionized the way people look at interacting with their communities. While building his family’s local liquor store into a national industry leader, he observed the extraordinary potential of what he has dubbed the Thank You Economy. As a consultant, he introduced those same principles into the business world at large, with successful applications in sports, consumer packaged goods, and retail. Askmen.com named Gary to its list of the Top 49 Most Influential Men of 2009, and he was included in BusinessWeek’s list of the Top 20 People Every Entrepreneur Should Follow.
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Copyright
THE THANK YOU ECONOMY. Copyright © 2011 by Gary Vaynerchuk. All rights reserved under International and Pan-American Copyright Conventions. By payment of the required fees, you have been granted the non-exclusive, non-transferable right to access and read the text of this e-book on-screen. No part of this text may be reproduced, transmitted, down-loaded, decompiled, reverse engineered, or stored in or introduced into any information storage and retrieval system, in any form or by any means, whether electronic or mechanical, now known or hereinafter invented, without the express written permission of HarperCollins e-books.
FIRST EDITION
Library of Congress Cataloging-in-Publication Data Vaynerchuk, Gary.
The thank you economy / Gary Vaynerchuk. 1st ed.
p. cm.
Includes bibliographical references.
ISBN: 978-0-06-191418-8 (hbk.)
ISBN: 978-0-06-209000-3 (B & N edition)
ISBN: 978-0-06-191424-9 (pbk.)
1. Customer relations. 2. Social media. 3. Branding (Marketing) 4. Internet marketing. 5. Management. I. Title.
HF5415.5.V396 2011
658.8’12—dc22
2010052581
EPub Edition © January 2011 ISBN: 978-0-06-203644-5
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* In the early drafts of this manuscript I referred to LeBron James here, but as you sports fans know…things change.
* In the time since I first started writing about this story, Galante appears to have taken down his blog.
* If you’re reading this and it’s 2014, could you email me how much actual money you’re spending on virtual goods?
* You know, I don’t think I want that to be a rhetorical question. If you were one of those people, I’d love to know. Email me and confess at gary@vaynermedia.com.
* You might want to rethink that money you’re putting into SEO, by the way. I’m not a huge fan of SEO, and I think its value as a brand awareness tool is going to weaken as platforms develop that leverage the relationship between a business or brand and an information seeker. Remember the kid I watched in Best Buy who used a status update to get the information he needed from his friends to pick a video game.
* The only people who have to fear low numbers are those who have artificially inflated their value and popularity.
* The excessive attention we pay to squeaky wheels is contributing to a lot of misses right now. I know I was guilty of doing it when I was getting started with social media. We need to make sure that we focus on the emerging advocates for our brands, especially micro-celebrities, and not get overwhelmed by the small percentage of problems we sometimes have to handle.
* It blends skills from the PR department and marketing, but it should remain its own department.
* It doesn’t matter that the study was done in the UK. Plenty of U.S. brands are guilty of using their Twitter accounts as nothing more than digital cork-boards, too. See “Tech Companies Miss the Point of Social Media,” Techeye.net, August 5, 2010. http://www.techeye.net/internet/tech-companies-missthe-point-of-social-media.
* A copy of the letter is included in the Sawdust at the end of the book.
* See Crush It!, page 60.
* When I saw the ads and heard about the campaign, I respected the hustle it took to put the whole thing together, but it didn’t occur to me to run out to buy a stick of Old Spice. Rather, I walked into the pharmacy to buy something else, saw Old Spice on the shelf, remembered how much I’d liked the videos, and decided to give the product a try.
* As of July 2010, the number of Old Spice Twitter followers had increased by 5400 percent since January of the same year.
* Unfortunately, it’s going to be a lot harder for social media campaigns to attract earned media by 2012 or so, once the public has become used to communicating directly with brands. As with almost all attention-grabbing efforts, you have to constantly reinvent and top yourself to make an impact.
* For more details about Avaya’s social media efforts and this story, read Casey Hibbard’s article, “It Pays to Listen.” http://www.socialmediaexaminer.com/it-pays-to-listen-avayas–250k-twitter-sale/
* If you are in the restaurant business and you are not obsessed with your Yelp strategy, please sell your establishment now while there’s still some value in your business.
† It’s a perfect, simple play to use your manners, and it rarely fails to impress.
* Just how much information are we trying to absorb? At the 2010 Techonomy conference in Lake Tahoe, California, Google CEO Eric Schmidt stated that every two days people create as much information as they did from the dawn of civilization to 2003, about five exabytes of data.
* See Rick Kash and David Calhoun’s How Companies Win, HarperBusiness, 2010, pp. 40–41.
* I respect the math that goes into figuring out how these small samples can stand in for large groups of people, but still, you can’t help but question it, can you?