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Crush It! In The Thank You Economy March 16, 2011

Posted by bobv451 in education, ideas, VIPub, writing.

Gary Vaynerchuk’s lecture last night was both fun and thought provoking. He’s a good speaker, relaxed, earnest, humorous when necessary and conveys a ton of information. In a way, reading the reviews of The Thank You Economy, I see no reason to buy it. It’s apparently the rationale behind what he is saying–Crush It! is more in the how-to vein, which is what interests those of us in the choir.

He dropped some interesting hints. He might well be advisor to Pepsi and that the coming advertising battle between McDonald’s and Burger Thing (ok, Burger King–I calls ‘em as I sees ‘em) might result in the death of one. In fact, he predicts the death of many major corporations in the next 5 years if they don’t understand that “push ads” such as we’ve had for the past 50 years or so are dead. Radio, TV, print, email, those aren’t reaching people–we’ve learned to turn off the ads, if not the media. GV opines that we are returning to a more traditional way of selling not unlike the corner store where the owner knows your name, what you like and dislike, how to reach you on a personal basis.

Making a personal contact is going to triumph over “friends” on Facebook. GV’s main business is selling wine. His example: he had a big customer in Chicago. Rather than send a bottle of wine as thankyou, he researched the buyer’s druthers, found on FB that he was a fan of Jay Cutler (Chicago Bears QB–and yes, I hope my stint on the Fantasy Football mags is coming up real soon now). He got a signed jersey and sent it to the buyer, who is now a buyer for life compared with simply being business associates or “friends” on FB.

Another take on this. Work really hard to keep your customers rather than just recruit new ones.

A cautionary tale. Old Spice nabbed 125k on Twitter with a brilliant push ad. When the campaign was over, the ad agency folded its tent and snuck into the night to find another account. Those 125k were cast adrift when added effort should have been used to keep them.

More tomorrow on GV’s comment: content is king, context is god.



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