Thanks

“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 now and beyond, and brands that fail to adjust will be left out in the cold.

~Gary Vaynerchuk