Stop Overpaying For Your Marketing l Brand New Podcast
Digest
Gary Vaynerchuk, a serial entrepreneur and author, joins the podcast to discuss his new book, "Day Trading Attention." He argues that social media is the most important reach machine in marketing today, surpassing traditional mediums like television and billboards. He highlights the ability of social media to target specific consumer segments with tailored messaging, unlike traditional advertising which often requires a more generic approach. Gary Vee also emphasizes the importance of creating compelling content that drives organic reach, a concept he believes is often overlooked by marketers. He suggests that brands should shift their focus from "content" and "posts" to "social media ads" to better understand the value of social media as an advertising platform. He also discusses the importance of understanding the cultural context of social media and how it can be used to build brand relevance. Gary Vee concludes by offering advice on how CMOs can convince their CEOs and CFOs to invest in social media advertising, suggesting a strategic budget allocation that prioritizes performance selling while allowing for a portion of the budget to be dedicated to brand-building initiatives.
Outlines
The Power of Social Media Advertising
This Chapter explores the unique advantages of social media advertising compared to traditional mediums like television and billboards. Gary Vee argues that social media offers a more targeted approach, allowing brands to reach specific consumer segments with tailored messaging. He also emphasizes the importance of creating compelling content that drives organic reach, a concept he believes is often overlooked by marketers.
The Evolution of Social Media Marketing
This Chapter delves into the evolution of social media marketing, highlighting the shift from organic reach to paid advertising. Gary Vee shares his experience with the early days of Facebook and how the platform's organic reach potential has changed over time. He compares the current landscape to the transition from radio to television, suggesting that we are now in a similar era of transition from television to mobile devices.
Cooler Cringe: A Speed Round
This Chapter features a speed round segment called "Cooler Cringe," where Gary Vee and the hosts discuss various trends and topics in the marketing industry. They debate the merits of looking back at past performance, branding on sports jerseys, retail media networks, and Web3. Gary Vee shares his insights on the current state of these trends and offers his perspective on their future potential.
Keywords
Social Media Advertising
Social media advertising refers to the use of social media platforms like Facebook, Instagram, Twitter, and TikTok to promote products, services, or brands. It involves creating and distributing targeted ads to specific audiences based on demographics, interests, and behaviors. Social media advertising offers a high level of customization and allows for real-time tracking and measurement of campaign performance.
Organic Reach
Organic reach in social media refers to the number of people who see a brand's content without paid advertising. It is achieved through creating engaging and valuable content that resonates with the target audience, encouraging shares, likes, and comments. Organic reach is crucial for building brand awareness, fostering community engagement, and driving organic traffic to a brand's website or social media profiles.
Gary Vaynerchuk
Gary Vaynerchuk, also known as Gary Vee, is a serial entrepreneur, author, and internet personality. He is known for his expertise in digital marketing, social media, and entrepreneurship. Gary Vee is a vocal advocate for building strong brands through authentic content creation and engaging with audiences on social media platforms. He is the author of several best-selling books, including "Jab, Jab, Jab, Right Hook" and "Crushing It!" and is the founder of VaynerMedia, a digital marketing agency.
Day Trading Attention
"Day Trading Attention" is a book by Gary Vaynerchuk that explores the concept of harnessing the power of underpriced attention channels in the digital age. The book emphasizes the importance of understanding how to effectively utilize social media platforms to build brand awareness, engage with audiences, and drive business results. Gary Vee argues that brands need to adapt to the changing landscape of attention and leverage the opportunities presented by social media to connect with consumers in meaningful ways.
Performance Selling
Performance selling is a marketing strategy that focuses on driving measurable results, such as sales, leads, or conversions. It involves using data-driven approaches to optimize campaigns and track the return on investment (ROI). Performance selling often relies on paid advertising channels, such as search engine marketing (SEM), social media advertising, and display advertising. It is a highly data-driven approach that aims to maximize efficiency and effectiveness in marketing efforts.
Brand Building
Brand building refers to the process of creating a strong and positive perception of a brand in the minds of consumers. It involves developing a unique brand identity, communicating brand values, and building relationships with customers. Brand building is a long-term strategy that aims to create a loyal customer base and differentiate a brand from its competitors. It encompasses various marketing activities, including advertising, content marketing, public relations, and social media engagement.
Relevance
Relevance in marketing refers to the degree to which a brand's message or content is meaningful and valuable to its target audience. It involves understanding the needs, interests, and preferences of consumers and tailoring marketing efforts to resonate with them. Relevance is crucial for building brand loyalty, driving engagement, and achieving marketing objectives. It requires a deep understanding of the target audience and the ability to create content that is both informative and engaging.
CMO
CMO stands for Chief Marketing Officer. The CMO is the executive responsible for all aspects of a company's marketing strategy and operations. They oversee marketing teams, budgets, and campaigns, and are responsible for driving brand awareness, customer acquisition, and revenue growth. CMOs play a critical role in shaping a company's brand image and ensuring that marketing efforts align with overall business objectives.
CFO
CFO stands for Chief Financial Officer. The CFO is the executive responsible for managing a company's financial operations. They oversee financial planning, budgeting, accounting, and reporting. CFOs play a crucial role in ensuring the financial health of a company and making strategic decisions related to investments, financing, and risk management.
Q&A
What are the key advantages of social media advertising compared to traditional advertising?
Gary Vee argues that social media advertising offers a more targeted approach, allowing brands to reach specific consumer segments with tailored messaging. It also has the potential to create organic reach through compelling creative, unlike traditional advertising which often requires a more generic approach.
How has the landscape of social media marketing changed over time?
Gary Vee describes the shift from organic reach to paid advertising on platforms like Facebook. He compares the current landscape to the transition from radio to television, suggesting that we are now in a similar era of transition from television to mobile devices.
What advice does Gary Vee give to CMOs who want to convince their CEOs and CFOs to invest in social media advertising?
Gary Vee suggests a strategic budget allocation that prioritizes performance selling while allowing for a portion of the budget to be dedicated to brand-building initiatives. He emphasizes the importance of demonstrating the value of social media advertising through measurable results and showcasing its ability to drive both sales and brand awareness.
What is Gary Vee's perspective on the importance of understanding the cultural context of social media?
Gary Vee believes that brands need to understand the cultural context of social media and how it can be used to build brand relevance. He emphasizes the importance of creating content that resonates with the target audience and aligns with their values and interests.
What is Gary Vee's view on the use of the terms "content" and "posts" in social media marketing?
Gary Vee argues that the terms "content" and "posts" diminish the value of social media as an advertising platform. He suggests using the term "social media ads" to better reflect the strategic nature of social media marketing.
How does Gary Vee suggest CMOs can outsmart their boards and CEOs to secure budget for brand-building initiatives?
Gary Vee recommends a strategic approach to budget allocation, proposing a split between performance selling and brand-building initiatives. He suggests demonstrating the value of performance selling through measurable results and using that success to justify a portion of the budget for brand-building activities.
What is Gary Vee's perspective on the importance of understanding the cultural context of social media?
Gary Vee believes that brands need to understand the cultural context of social media and how it can be used to build brand relevance. He emphasizes the importance of creating content that resonates with the target audience and aligns with their values and interests.
What is Gary Vee's view on the use of the terms "content" and "posts" in social media marketing?
Gary Vee argues that the terms "content" and "posts" diminish the value of social media as an advertising platform. He suggests using the term "social media ads" to better reflect the strategic nature of social media marketing.
How does Gary Vee suggest CMOs can outsmart their boards and CEOs to secure budget for brand-building initiatives?
Gary Vee recommends a strategic approach to budget allocation, proposing a split between performance selling and brand-building initiatives. He suggests demonstrating the value of performance selling through measurable results and using that success to justify a portion of the budget for brand-building activities.
Show Notes
Today's video is Gary's interview on the Brand New Podcast with Marisa Thalberg and Steven Wolfe Pereira. Gary emphasizes the importance of tailoring messages to different consumer segments, leveraging the unique advantages of social media for targeted and affordable advertising. He talks about his new book, "Day Trading Attention," which explores harnessing underpriced attention channels in the digital age. He also highlights the transition from traditional TV to mobile and streaming services, stressing the need for marketers to stay ahead of trends and adapt to the rapidly changing environment. The video also features a quick-fire "Cool or Cringe" segment where Gary shares his candid opinions on various marketing trends and practices. Enjoy!
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