Transcript
Gary Vaynerchuk (0:00)
Small brands have one TikTok that goes viral that outsells in product. What a Fortune 500 competitor. Theirs spends millions of dollars in television investment. If you were a small entrepreneur, you couldn't get into Walmart. You couldn't get into Sephora and Ulta. You couldn't get into CVS or Wegmans. You also didn't have enough money to run television spots. That's all been flipped because attention has shifted to the mobile device and to social networks and distribution has shifted to Amazon 3pls to shopify opportun. You know you don't need to win at Walmart to build a big business.
Gary Vaynerchuk (0:35)
This is the GaryVee audio experience.
Interviewer (0:40)
What has been the most important strategy for you in shifting your approach in growing online communities and your brand from 15 years ago to today?
Gary Vaynerchuk (0:50)
To really win with the consumer, you have to have a level of relationship with it, with them, with the collective that is grounded in a astonishing level of humility and non transactional DNA. I would argue that most people struggle in business and marketing because they are overly emotional about how they make their money today.
Interviewer (1:14)
Overly emotional about how they make their money today. Why do you say that?
Gary Vaynerchuk (1:18)
When I'm in those meetings with those CMOs, when I talk about TikTok live shopping or I talk about influencer marketing. TikTok live shopping. If you talk to a retailer who's got 400 leases around the country and all their cogs are caught up and in stores and fixtures and employees, me pontificating that in a studio like this you can sell just as much stuff as your store in midtown right now with all those costs, you struggle to go there because we've made the financial commitment there and we're gonna be judged every 90 days. Cause we're a big company either publicly or in a PE environment. And so you start to say no, not because you're not intellectually strong enough to know that it's happening. It's just that you're emotionally and actually tied up into how you're making your economics. Now when I Talk about influencers 6, 7, 10 years ago are coming. Well, if you just pay Tiger Woods $20 million a year your watch, the concept of like hey, these kids online can do more for you for hundreds of thousands of dollars doesn't sit well. You're locked into a three year $60 million deal. So if you ask me why things have worked for me or what has been the go to, it's never fight the market. If the truth is that consumers are now enjoying social or Influencers or live shopping or here's a good one, that's going to really bother everyone, AI influencers. If it hurts your feelings as a human, you're against the concept of AI humans on the Internet. People that are not real, that are computer generated, if that's your ideology, you're allowed. But if the consumer is consuming that content and doesn't care if it's a real life human or an AI generated human that's communicating to them about a bottle of water or a dress or a blouse or a hat, you're going to lose that game. The customer is undefeated.
