Gary Vaynerchuk, entrepreneur and author of "The Thank You Economy" shares his views on the return on investment when it comes to social media. He calls his approach: "customer service on the offense."

Not too long ago, word of mouth generally spread only to a handful of people within a customer's closest circle of friends and family. Now, customers are broadcasting their experiences on social media to the online world, amplifying the impact of your company's interactions. Marketers also have the potential for "earned media" coverage through traditional press outlets when social media messages go viral.

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