Thank you economy, or not?
With a rating of 4.4 on Amazon, The Thank You Economy sounds like a very promising book. In 2011, when the book was written, the author was talking about how vital is for both brands and small businesses to keep in touch with their customers using social media. Back then, most of the companies were using these as a one way communication channel. Even the most successful online advertising campaigns at the time, like Old Spice which gone viral for some time but failed to maintain the conversation with their followers after that. Why? Because they were used to the traditional way advertising worked, you put the ad and people come to watch.
Gary vaynerchuk was the one of the firsts to realize how the experience economy will evolve and also to put it in practice. In this book he talks a lot about how he launched and has success with the Wine Library into the online world while everybody thought that it will be useless.
Rereading this book in 2016 made me take a look at how much the social media changed the way we communicate with our customers. Now if you want any information, you just send a tweet and the a brand representant will guide you. Facebook has a system that tells you how soon the company will get back to you and google gives you all thier information.
Looking trough my feed I still see local brands struggling to communicate and ‘spam’ you with their offers, while the big brands use familiar voices to influence you and use their product. Does this mean they are better than the small guys? Or they just have bigger budgets?
Without a big budget, the new local patisserie down the street, that puts soul in all of it’s products will be eaten up by Crazy Doughnuts that had X celebrities post photos with their products. Is this they way is supposed to be?
Definitely social media had changed our lives in a lot of good ways, but how can we prevent the manipulation and have fair competition, when even our ‘role models’ started persuading us into using, not brands that they naturally love, but brands that pay them the most?