The future of advertising will focus on demonstrable business results: Advertising will shift from relying on awards and headlines to proving tangible business outcomes, with influencer marketing playing a significant role in this evolution
The future of advertising will shift away from relying on awards, headlines, and reports, and instead focus on demonstrable business results. According to Gary Vaynerchuk, the CEO of VaynerMedia, the pressure is on large advertising companies to prove the value of their multi-million dollar ad spend. He argues that the industry has been trading on superficial metrics for too long, and as the business landscape evolves, companies will be forced to adapt or face extinction. Vaynerchuk believes that influencer marketing is still in its infancy and has yet to reach its full potential. He suggests that the future of this marketing strategy will also be shaped by its ability to deliver tangible business outcomes. Overall, the future of advertising will be defined by a renewed focus on merit and results, rather than awards and headlines.
Marketing through Influencers: The Future of Word-of-Mouth: Influencer marketing is growing, but it will take time for it to be fully priced. Traditional broadcast networks may face competition from OTT platforms, and ad prices on social media may decrease.
Word-of-mouth marketing, which has been the driving force behind purchases since ancient times, will continue to evolve through Key Opinion Leaders (KOLs) and influencers. Currently, influencer marketing is gaining traction with a smaller investment compared to commercial advertising, but it will take around 7 to 10 years for it to be properly priced. Once it reaches that point, the trend may shift, and the advertising landscape may change. TV is not dead yet, but it faces competition from Over-The-Top (OTT) platforms like Amazon, Google, Apple, and Tencent. Traditional broadcast networks may become vulnerable in the next decade. Ad prices on Facebook and other social media platforms are expected to decrease significantly before they become attractive to major buying media agencies. The evolution of marketing and advertising will continue to be shaped by consumer behavior and technological innovation.
VaynerMedia expands in Asia and explores new revenue streams: VaynerMedia is expanding into Asia, opening an office, and investing in voice, event marketing, talent management, consulting projects, and podcast infrastructure. They recently purchased PureWow and plan to launch a men's vertical and produce original podcasts.
VaynerMedia, under the leadership of Gary Vaynerchuk, is expanding its presence in Asia and exploring various streams of revenue beyond influencer marketing. The company is planning to open an office in Asia, with Singapore being a strong contender, and is also aggressively investing in the voice space, event marketing, talent management, consulting projects, and podcast infrastructure. Additionally, VaynerMedia recently made a significant investment by purchasing PureWow, a female media company, with plans to launch a men's complement vertical and produce original podcasts. Despite the financial investment required in these new ventures, Vaynerchuk believes in staying on the offensive and continuing to innovate and diversify the company's offerings.
Vaynerchuk's VaynerProductions goes global and explores documentaries, expresses belief in blockchain technology: Vaynerchuk is expanding his production company globally and is intrigued by the potential of blockchain technology, specifically Ethereum, despite his skepticism about its decentralizing capabilities.
Gary Vaynerchuk's VaynerProductions is expanding globally and exploring the production of original documentaries, while also expressing his belief in the transformative potential of blockchain technology, specifically Ethereum. Vaynerchuk expresses skepticism about the decentralizing capabilities of cryptocurrencies due to the power of governments, but acknowledges the significant impact it could have on society and the world order. He emphasizes the disruptive nature of blockchain technology, comparing it to the internet as the most significant development in human history. Overall, Vaynerchuk's outlook is optimistic and curious, as he looks forward to witnessing the next 100 years of innovation.
The Power of Respect and Appreciation: Express gratitude and admiration for others' time and expertise to create a positive atmosphere and foster learning and community engagement.
Respect and appreciation go a long way. The importance of acknowledging and valuing someone's time and expertise was emphasized throughout the conversation. Gary Vaynerchuk expressed his gratitude and admiration for Manuela, creating a positive and engaging atmosphere. This interaction serves as a reminder for us to show respect and appreciation in our own interactions, whether in personal or professional settings. Furthermore, the episode concluded with a call to action for the audience to share the experience and engage in a dialogue about the conversation. This not only encourages the spread of valuable insights but also fosters a sense of community and learning. In essence, the power of respect and appreciation, coupled with the importance of sharing knowledge and experiences, were the key themes of this episode of the Gary Vee experience.
An Interview During Brand Minds Asia 2017
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