About 5 years ago I signed up for “12 minutes” which offered 12 minute synopses of books… a way to get an intro to a book before I read the whole thing…or chose to avoid the book. It delivers these in audio format so one could listen to a book while out on a walk, or on the train to work.
Here’s their URL.
A couple years ago, 12min.com sent me an email saying I could be paid to provide 12 minute synopses of books. First we would agree on a book. I would first need to READ the book, then WRITE the synopsis They would pay me….[drumroll]… 40$ a book.
I guessed that would be about 2.50$ an hour for my time.
That was then. This is now.
As an experiment. I just “wrote” a 12 minute (1600 word) synopsis of a book in 12 minutes, real time. I used four prompts. The first one pointed to the book, and the other three asked for expanded descriptions from the book.
If I did five of these in an hour, I could make 200$.
“The Thank You Economy,” by Gary Vaynerchuk
“The Thank You Economy” by Gary Vaynerchuk is a book that highlights the importance of building relationships with customers in the digital age. Vaynerchuk argues that the rise of social media and other online platforms has made it easier than ever for businesses to connect with their customers and build meaningful relationships with them. He believes that in order to succeed in today’s market, companies must embrace the principles of the “thank you economy” and focus on building relationships rather than simply selling products or services.
The book is divided into three main sections. In the first section, Vaynerchuk discusses the history of marketing and advertising, and how the rise of the internet has changed the way businesses interact with their customers. He argues that traditional advertising methods, such as TV commercials and print ads, are becoming less effective, and that companies must find new ways to connect with their customers. Vaynerchuk explains that social media and other online platforms have given customers more power than ever before, and that businesses must adapt to this new reality in order to succeed.
The second section of the book focuses on the principles of the thank you economy. Vaynerchuk explains that the thank you economy is based on the idea that businesses must focus on building relationships with their customers, rather than simply selling products or services. He argues that companies must treat their customers as individuals, and must take the time to understand their needs and preferences. Vaynerchuk believes that by building these relationships, companies can create loyal customers who will continue to support them even in the face of competition.
The third section of the book provides practical advice on how businesses can implement the principles of the thank you economy. Vaynerchuk offers a number of strategies and techniques that businesses can use to build relationships with their customers. For example, he suggests that companies should use social media to engage with their customers, and that they should respond quickly to customer complaints and feedback.
Here are some tips from “The Thank You Economy” on how businesses can use social media to build relationships with customers:
- Listen and Respond: One of the most important things a business can do on social media is to listen to what their customers are saying and respond to them in a timely and meaningful way. This means monitoring social media channels for mentions of the brand, responding to customer questions and concerns, and thanking customers for positive feedback.
- Create Engaging Content: In order to build relationships with customers on social media, businesses need to create content that is relevant, interesting, and valuable to their audience. This can include blog posts, videos, infographics, and other types of content that educate, entertain, or inspire.
- Personalize Communication: Social media provides businesses with the opportunity to communicate with customers in a more personal and authentic way. Businesses should aim to use the customer’s name and personalize their responses to their individual needs and concerns.
- Create a Sense of Community: Social media can be a powerful tool for building a sense of community around a brand. Businesses can do this by encouraging customers to share their experiences and connect with each other through social media channels.
- Share Behind-the-Scenes Content: To build trust and authenticity with customers, businesses can use social media to share behind-the-scenes content that gives customers a glimpse into the people, processes, and values behind the brand.
- Reward Customer Loyalty: Social media can be a great way to reward customer loyalty and show appreciation for their support. This can include exclusive offers, discounts, and special promotions for social media followers.
- Monitor Feedback and Analytics: To ensure that their social media efforts are effective, businesses should monitor their social media analytics and customer feedback on a regular basis. This can help them to identify areas where they can improve and make changes to their strategy accordingly.
Vaynerchuk also emphasizes the importance of creating a strong brand identity, and of being authentic and transparent in all interactions with customers. Throughout the book, Vaynerchuk provides numerous examples of companies that have successfully implemented the principles of the thank you economy. He highlights companies that have built strong relationships with their customers, and that have used social media and other online platforms to create engaging and memorable experiences. Vaynerchuk also provides examples of companies that have failed to adapt to the changing landscape of marketing and advertising, and that have suffered as a result.
One of the key themes of the book is the importance of authenticity in business. Vaynerchuk argues that customers are increasingly skeptical of traditional advertising methods, and that they are more likely to trust companies that are transparent and authentic in their interactions. He emphasizes the importance of being honest and genuine in all interactions with customers, and of creating a brand identity that is consistent and authentic.
He argues that customers are savvy and can easily detect insincere or manipulative marketing techniques, and that businesses that are not genuine in their communication will not succeed in the long run. To be truly authentic, Vaynerchuk argues, businesses must be willing to be vulnerable and transparent, and to share both their successes and their failures with their customers.
For Vaynerchuk, authenticity is about being honest and transparent in all business dealings. It involves a willingness to admit mistakes and to engage in open and honest communication with customers. This means being upfront about pricing, quality, and any issues that arise with products or services.
Authenticity also involves a willingness to show vulnerability and to share the human side of the business. This can include sharing stories of the company’s history, the struggles that have been overcome, and the values that guide the business. By showing the human side of the business, Vaynerchuk argues, companies can build deeper relationships with customers and create a sense of loyalty that goes beyond mere transactions.
Moreover, Vaynerchuk believes that authenticity must permeate every aspect of the business, including its culture, communication, and products or services. He believes that businesses that are truly authentic are those that are passionate about their work and are committed to making a positive impact on the world.
In practice, being authentic in business can be challenging. It requires a willingness to take risks and to be vulnerable, which can be difficult for many businesses. However, Vaynerchuk argues that the benefits of authenticity far outweigh the risks. By being honest and transparent, businesses can build deeper relationships with customers, increase customer loyalty, and ultimately drive long-term success.
Another important theme of the book is the idea that businesses must be willing to take risks and embrace new technologies and platforms. He provides several examples.
- Innovation: One of the most common forms of risk-taking in business is innovation. Businesses that are willing to take risks on new products, services, or technologies often have the potential to achieve significant success. For example, Apple took a significant risk when it introduced the iPhone, which was a completely new type of mobile device. The risk paid off, and the iPhone has since become one of the most successful products in the history of the company.
- Expansion: Another form of risk-taking in business is expansion. This can involve opening new locations, entering new markets, or launching new products or services. For example, Starbucks took a significant risk when it began to expand globally, as it was not clear whether the company’s business model would translate to other cultures. However, the risk paid off, and Starbucks is now one of the most successful global brands.
- Marketing: Businesses that are willing to take risks in their marketing strategies can often achieve significant success. For example, the Old Spice “The Man Your Man Could Smell Like” campaign was a significant risk for the brand, as it was completely different from anything the company had done before. However, the campaign was a huge success and helped to revitalize the brand.
- Partnerships: Businesses that are willing to take risks on partnerships can often achieve significant benefits. For example, the partnership between Nike and Michael Jordan was a significant risk for the company, as it was not clear whether the relationship between the brand and the athlete would translate to significant sales. However, the risk paid off, and the Air Jordan line of sneakers is now one of the most successful in the history of the company.
- Investment: Businesses that are willing to take risks on investment can often achieve significant returns. For example, Amazon’s decision to invest heavily in cloud computing was a significant risk at the time, as the company was primarily known as an online retailer. However, the investment paid off, and Amazon Web Services is now one of the most successful cloud computing services in the world.
Vaynerchuk emphasizes the importance of experimentation and of being willing to try new things, even if they are outside of a company’s comfort zone. He argues that businesses that are willing to take risks and embrace new technologies are more likely to succeed in the long run.
Overall, “The Thank You Economy” is a thought-provoking book that challenges traditional ideas about marketing and advertising. Vaynerchuk argues that the rise of social media and other online platforms has changed the way businesses interact with their customers, and that companies must adapt to this new reality in order to succeed. He provides numerous examples of companies that have successfully implemented the principles of the thank you economy, and offers practical advice on how businesses can do the same.
I need to confess: I have not read this book. I cannot verify the synopsis that ChatGPT wrote. I can say that it is a lot more informative than the synopsis I read on 12min.com.