According to new media marketing visionary Gary Vaynerchuk, what we’ve seen to date is just the tip of the iceberg. Business, as Vaynerchuk contends, is on the verge of being humanized and social media will be the tool that drives this new word-of-mouth economy.
Last week, Gary was a guest on MSNBC’s Morning Joe, where he spoke about his new book, The Thank You Economy and the power of one-on-one relationships in today’s economy.
If you missed the spot, which ran on March 9th, I’ve pulled out a couple key points that I feel are essential for the future of any business in any market, large or small.
Be more small town, more human. Have the corner store mentality – know what your customer wants and get it for him/her.
The big-box store era is over and businesses will compete on relationships rather than strictly on pricing.
People have a hunger for socialization and we have turned back the clock with our smart phones and social media platforms.
Google will be the major player in social reviews and social searches.
According to Vaynerchuk, many businesses will be scared off by the lack of immediate, measurable ROI. But rest assured, those that prevail will come out with a bang in 2013-2015 and we will see some revolutionary new business models. Think Netflix vs. Blockbuster.