The Thank You Economy: How Business Must Adapt to Social Media

Viewer advisory: This program contains explicit language. Wine Library TV’s Gary Vaynerchuk gives his no-holds-barred take on how modern businesses must adapt to thrive in a social media-driven culture. —– On November 5, L2 and NYU Stern hosted its second-annual Innovation Forum at The Morgan Library in New York City. The full-day event addressed innovation in digital marketing and implications for prestige brands. L2 Forums are the largest gatherings of prestige professionals in North America. Forums draw C-level executives and top marketing and digital talent from prestige brands; leading agencies, media, and technology firms; and innovators and academics. In addition, 25 percent of seats are reserved for students from the nation’s top business and arts graduate programs. Gary Vaynerchuk was born in Babruysk, USSR (today Belarus) on November 14, 1975 and emigrated to the US in 1978. He graduated from Mount Ida College in Newton, MA. From a platform as co-owner and Director of Operations of Wine Library, a wine retail shop in Springfield, New Jersey, Vaynerchuk gained fame as the host of Wine Library TV, a daily internet webcast on the subject of wine. Called the “king of social media”, he is one of the first Facebook users to max out his friend limit, with over 17000 pending friend requests. He is in the top 100 people followed on Twitter and was the keynote speaker at events like the 2009 South by Southwest Interactive conference and the New Media and Web 2.0 expos.

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  1. GaryVaynerchuk says:

    @fbtimo :) thank u

  2. pengopen says:

    Nice one!

  3. fbtimo says:

    the best gary v speech ive heard yet (i mean, i stalk this dude!)

  4. mombizcoach says:

    Fabulous: “Will businesses learn to be human, or just keep trying to sell s*%#?”

  5. Tippersnore says:

    Allah hu Akbar!

  6. philinmotion says:

    @bbvibrabb The most important rule: ignore the rules. 😛

  7. philinmotion says:

    I just finished listening to your audiobook of Crush-It and I’m about to buy this one. Thanks for caring.

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  9. bbvibrabb says:

    The most important rule of business: Adapt, react, readapt, apt.

  10. vanizzi says:

    Love “the pinot noir will blow ur fucken face off” ending

  11. comeade says:

    I dunno. If you’ve found the thing that gives you an edge over your competitors, why come out blowing trumpets about it to everyone saying they gotta do it too? Unless of course, you don’t think it will hurt your particular segment, and you’re the only guy in the online wine space, AND you can sell books as a ‘social business guru’. But, the brilliance as we know is, if you are on the ground floor, you can sell the dream to others. The middleman selling the dream is the clear winner.

  12. Mcewenmarine says:

    In this video Gary successfully invites the viewer to engage and action the use of social media for businesses. His use of informal everyday language and humour communicates his approach to social media more effectively than if he talked at the audience from an academic position. This approach reflects him as a likeable and trustworthy “friend”. Specifically in the first 2 minutes of his talk, Gary establishes his authority and makes you feel comfortable

  13. Mcewenmarine says:

    to believe in his argument by running though how many followers he has on the various social media sites and how many books he’s sold. This approach makes you feel comfortable enough to align with his ideas, as suddenly he has made you aware that there are many people supporting him too. We start to trust and believe what he’s saying right from the start of his talk.

  14. Mcewenmarine says:

    However it is important to note, while we are wrapped in all of the positives he is showing us, he neglects to mention inherent risks of participation in this type business activity. While he is extremely passionate and confident about the power of social media to enable businesses to connect with, and gather information directly from their customers, he is lacking objectivity in his talk by not outlining the risks associated with type of activity.

  15. Mcewenmarine says:

    Gary’s argument is that social media is here to stay and will (if it hasn’t already) become the platform for most business-client interactions, to the point where he states, that businesses should develop a human like relationship with their clients, one which is based around the company actually caring about how its brand is perceived

  16. Mcewenmarine says:

    within social media sites and how social media can aid them to gather important information about vast majorities of their target consumers. He is presenting the idea that social media can be used to target individuals, and narrow the gap between company, brand and product to the individual consumer. His use of real life scenarios, where large companies are successfully achieving this goal, enable us to see his ideas in a real life context and therefore works to further validate his argument.

  17. Mcewenmarine says:

    Gary invites the viewer to engauge and action the use of social media for business through the use of informal everyday language more readily than if he talked at the audience from an academic POV. Because he is so passionate and confident about the power of social media he neglects to mention inherint risks of participation. He is making the assumption the social media is here to stay and will (if it already hasnt) become the platform for most business-client interactions. Great Video.

  18. TheBeaverBetty says:

    You are shockingly handsome! Fantastic stuff.

  19. choadcia says:

    Gary is ON POINT…beyond the infotainment, his content is dead on!

  20. swoods5857 says:

    I love Gary….and loved his books.

  21. learnit2earnit says:

    Those that don’t get what Gary is saying is just that, they don’t get it. For those that do, bravo Gary! Keep your message loud and clear. I’m reading your book ‘The Thank You Economy”

  22. rubberbaby00 says:

    So tell me what was the point of the talk, and please exclude anything that is patently obvious.

  23. RoyalRoyale says:

    @rubberbaby00 This guy is saying the internet is “shallow in content”… You couldn’t be more wrong.

  24. TheEricBooth says:

    This is why I love Gary V.

  25. percussioneducation says:

    Can’t way to read Gary’s new book!

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