Gary Vaynerchuck Keynote Live Blog
Really excited about keynote. Room has the DNA of what excites me. Know how to make money.
Too many people looking for a single when they have the talent for home runs. Swing for the fences.
Wants to open for Q&A. Of course you have to kill it. Social media doesn’t mean jack s$#%. Social media is business. These thing are tools.
We do care when you take a dump.
Content. If you blog or vlog, content is important. But don’t spend too much time on content. Content is King, but Community is Queen – and the queen runs the household.
Be authentic. He spends 45 minutes to an hour a day on content. The rest of the time is monetizing, biz dev, phone calls. 8 to 9 hours a day of pure interaction on Facebook, Twitter, etc.
Gotta really ask yourself “Where am I going”
Global divide in Socmed world. You have the artists and the entrepreneurs. Why can’t you be both?
Transparency: If you have cockroaches in the back of your pizza shop, clean it up. If you have something to hide, it will come out. When he launched PleaseDressMe he told everyone everywhere that all links were affiliate links.
PleaseDressMe revenue is 50/50 affiliate/other. Selling sponsorships pn the side. Create more angles to make money. Want to make money? Pick up the phone and ask for sponsorship.
People don’t want to see ROI now. Newspaper industry will get their face kicked in. Media buyers just buying banners on sites that don’t matter and TV shows where you won’t get customers.
One favor: everyone trying to convince the mainstream. Don’t tell them. The longer they don’t know, the more benjamins in our pockets.
This is not the great depression people! They did not do this in the 30′s? Did you see the food left in the halls in the hotel? That s#@% would be snapped up in the 30′s!
Build brand equity. When you build brand equity, you always have the opportunity to make money. Don’t build for a platform. Google might not be around any more. Same for Twitter.
Powerful shift. Game changer is direct to consumer. Twitter is Barry Bonds – word of mouth on steroids.
Now you have to build brand equity in something you are passionate about so that when you wake up in the morning you feel like rocky and drink eggs, want to eat snow, and pick up people in wheelbarrows.
Have a goal. I want to buy the NY Jets, so I have to make billions of dollars and get on Oprah. If you want to smoke weed and fish in Jamaica, fine. If you know where you are going, you are 90 percent of the way there.
Q&A:
What’s the strategy behind what you do? The strategy is that there is no strategy.
How do you create boundaries and separate work from family? Wife is very independent. You need a partner who understands you and you understand them. Feeling and knowing your family.
How to make charity project raise $10 million not $1 million? 4 to 7 hours a day on getting on Oprah or the today show. Pound people into submission.
Newbie merchant getting into this digital viral marketing thing. What is the next step? First and foremost, building brand equity. Once you establish brand equity you can get higher profit margins. Reach out to people in digital space who like your products. You have to spend 7 to 10 hours a day learning what these crazy kids are talking about. Do it yourself. Don’t hire someone else to learn it – they might leave.
Recommendations for this crowd? How do you cross pollinate? Fishing in other ponds. Saw opportunity in social media. Everyone gets together. Go to the conferences where nobody knows what you know. Chamber of commerce event where you are f%$#*&% Yoda. Go somewhere else!
How do you handle getting thousands of messages a day? Took a major step back in the wine business to build personal brand equity. Nobody has enough patience. He spent 18 months spending 8 to 10 hours a day joining communities while he let his $50 million business stop growing before anyone cared about Wine Library.
When PleaseDressMe launched you had the big flash. How has it carried through long term? The Conan effect. People take it more seriously. Creating the hype to leverage the hype. Used that blast of promotion to build a real business. It got him in the door in the places he needed to get into. Leverage the hype to create business.
Final thoughts: Really honored to talk at this conference. Has a real affinity for this space. Leave here with a thought of where you want to position yourself.
