Podcast Summary
Gary Vaynerchuk surprises a listener with a business consulting session and swag pack: Gary Vaynerchuk shares his early interest in comedy, selling Empathy Wines to Constellation Brands, and offering a listener a business consulting session and swag pack.
Gary Vaynerchuk, the host of the podcast, surprises his listeners by offering a random listener a business consulting session, a day with his team, and a swag pack as part of a mid-roll promotion. Additionally, Vaynerchuk recently sold his Empathy Wines brand to Constellation Brands, the largest wine company in the world, and they will expand its scale and quality. The podcast also welcomed comedian and Daily Show correspondent Roy Wood, Jr. as a guest. Vaynerchuk discussed his early interest in comedy, which he saw as an escapism, and how he started creating his own comic book and charging classmates to read it in the 6th grade. He attributes his oratory skills to his father, who was in journalism.
Identifying and fulfilling unique needs: Success comes from understanding markets, building relationships, and offering something new and different to fulfill unmet needs.
Success often comes from finding unique perspectives and fulfilling unmet needs. This was evident in the speaker's experience with renting a copy machine in high school and later in his pursuit of a career in comedy. He learned the importance of building relationships, observing, and listening to understand the market and stand out from the competition. AG Gaston's mantra of "find a need and fulfill it" resonated with him and guided his approach to content creation. Rejection and observation also played significant roles in his journey, as he learned from others and sought to offer something new and different. In the present, he continues to prioritize listening and assessing the market to create unique content, especially during challenging times like the pandemic and election cycles. Ultimately, his success can be attributed to his ability to identify needs and fulfill them in unique and entertaining ways.
Adapting to new platforms and staying relevant as a comedian: In uncertain times, content creators must adapt, connect with audiences, and find new ways to engage and provide value.
The current situation, including the elections and the pandemic, significantly impacts the content creation process for comedians and content creators in general. Roy Wood Jr., a comedian, shares his perspective on the importance of maintaining relevance and adapting to new platforms like digital shows and Instagram Live to connect with audiences. He emphasizes the power of collective laughter and interaction in bringing people together. Roy also discusses his experience with radio and how he used it to grow his comedy career by providing content to radio stations in smaller markets. He applied the same strategy to Instagram Live, recognizing the need for interactive and collective comedy conversations. By providing content for free to radio stations, he gained exposure and built relationships. Similarly, by using Instagram Live, he aims to unite people and create a sense of collective conversation. In essence, the key takeaway is that in times of uncertainty, it's crucial for content creators to adapt, connect with their audiences, and find new ways to engage and provide value.
Personal attention and brand recognition matter: During crises, prioritize safety, empathize with community, and stay true to brand identity to rebuild stronger.
While data is valuable, personal attention and brand recognition are equally important for expanding reach and building a successful business. The speaker, who is a radio personality and comedian, shares how he wishes he had started collecting email lists earlier in his career to leverage fan data. However, he emphasizes the importance of authentic connections and empathy, which were crucial during the COVID-19 crisis for global CEO Sandeep Seth and his beauty business, SK 2. Seth shares how they reacted to the crisis in three phases: reaction, responding to the community, and reemerging stronger. Despite being prepared for crises, nothing could have prepared them for the unpredictability of the pandemic. They prioritized the safety and well-being of their employees and partners, and responded to the community through donations and pivoting their supply chain to produce masks. Moving forward, they are focusing on staying true to their brand identity and purpose, which is "change destiny."
Pivoting during crisis: Inspiring stories and digital solutions: During crises, brands can inspire and provide hope by sharing inspiring stories and experimenting with digital solutions to adapt to changing consumer behaviors.
During times of crisis, it's essential for brands to inspire and provide hope to the world while also adapting to changing consumer behaviors. SK-II, a Japanese beauty brand, did this by pivoting their campaign to focus on the inspiring story of Olympic swimmer Iike Rikako, who recovered from leukemia, and by experimenting with digital solutions like e-consultations and AI chatbots to continue providing physical touch services in a contactless world. They also transformed department stores into phygital environments using technologies like facial recognition and eye tracking. Despite having to pivot their plans for the Tokyo Olympics, they remained fully committed to supporting their athletes and bringing positivity to consumers during a challenging time.
Companies pivoting to empathetic and connection-driven strategies: Companies are shifting from sales-focused to empathetic strategies, adopting technology, and learning to adapt quickly to emerge as leaders in the post-COVID retail landscape.
Companies, including SK 2, are pivoting from a sales-focused approach to a more empathetic and connection-driven strategy in response to the current global situation. This shift is expected to be permanent as the retail landscape and consumer behavior continue to change post-COVID. The adoption of technology is also accelerating as a result of the pandemic, creating a digital transformation that is likely to be long-lasting. Sandeep Seth, the global CEO of SK 2, believes that brands and businesses that can learn and adapt quickly will emerge as leaders in this new landscape. On a personal note, many people, including Sandeep, have shifted to buying most things online and exploring new options as a result of the pandemic. The changes brought about by COVID-19 are significant and are likely to have a lasting impact on how we live and shop.
Connecting Research and Action through the Center for Policing Equity: Dr. Goff's work at Yale led to the creation of the Center for Policing Equity, which aims to promote justice in policing through data and science, and addresses deep-rooted issues rather than just superficial improvements.
Dr. Goff's work as a professor and CEO of the Center for Policing Equity are interconnected, with the Center being an extension of his research at Yale. He recognized the limitations of individual efforts in addressing racial issues in policing and institutionalized his work through the Center. Convincing police departments to adopt data and science to improve their practices and promote justice was a challenge, as it required acknowledging and addressing deep-rooted issues rather than just superficial improvements. Dr. Goff's work is not about pointing out flaws but providing solutions to heal the deeper wounds in American democracy.
Policing and Addressing Racial Disparities: Three Categories of Police Departments: Understanding the root causes of disparities and focusing on behaviors and policies that contribute to them, along with regular measurement and accountability, are essential for addressing systemic issues in any organization.
Addressing systemic issues within organizations requires consistent measurement and accountability. In the context of policing, a company called "The Equity Lab" has seen a surge in interest from police departments seeking to address racial disparities. Out of 250 departments requesting their services, the speakers discussed the importance of distinguishing between those genuinely committed to change and those merely checking a box for optics. The Equity Lab categorizes departments into three groups: those acknowledging and addressing racism, those confident they're not racist but open to learning, and those following trends. The speakers emphasized the importance of understanding the root causes of disparities and focusing on police behaviors and policies that contribute to them. They also highlighted the importance of regular measurement and accountability to ensure progress towards change. Business leaders can learn from this approach by recognizing the importance of consistent measurement and accountability in addressing systemic issues within their own organizations. While it may be easier to maintain a status quo, genuine progress requires a commitment to regular evaluation and improvement. The example of Salesforce acknowledging and addressing gender pay disparities illustrates this point.
Measuring DEI is an ongoing priority: Shifting focus from hearts and minds to behaviors, engaging directly affected individuals, and taking a proactive and consistent approach to DEI can lead to a more inclusive culture and positive impact on business.
Measuring and addressing issues related to diversity, equity, and inclusion (DEI) in businesses requires consistent effort and regular assessment. The speaker shares an example of a company that equalized pay only to find the gender pay gap reappearing due to new acquisitions with the same disparity. To truly make a difference, businesses need to view DEI as an ongoing priority, similar to how they regularly check their financial statements. By shifting the focus from hearts and minds to behaviors, businesses can effectively identify and address the root causes of DEI issues within their organizations. To do this, companies should engage with those directly affected and work backwards from the problems they identify. Additionally, addressing DEI goes beyond just numbers and products; it's about demonstrating care and concern for all employees. By taking a proactive and consistent approach to DEI, businesses can build trust, foster a more inclusive culture, and ultimately, create a positive impact on their bottom line.
Aligning brands with social values for long-term success: Understand industry context, align with anti-racism and social values, listen to competent individuals, balance confidence and humility.
When it comes to building and managing a successful brand, especially for large organizations, it's crucial to consider the historical context and social values associated with the industry. Dr. Philip Goff, from the Center for Policing Equity, emphasized the importance of positively aligning a brand with basic social values, such as anti-racism, for long-term success. Leslie Dillon, CEO of JPMorgan Chase, added to this by emphasizing the importance of listening and surrounding oneself with competent individuals to make informed decisions as a leader. When faced with unexpected challenges, such as a global pandemic or a new role, it's essential to find a balance between confidence and humility, and to lean on the expertise of others. In summary, building a successful brand requires a deep understanding of the industry's historical context, positive alignment with social values, and a willingness to listen and learn from others.
Staying Proximate and Adaptive in Uncertain Times: CMOs must listen, pivot, and operate agilely using social media to understand customer sentiment and adapt strategies accordingly. Employees on the front lines deliver services and address concerns. Companies should prioritize brand consciousness and contribute positively to their communities.
During unprecedented times, it's crucial for businesses to stay proximate and connected with their customers and communities. CMOs and their teams must listen intently, pivot quickly, and operate in agile ways to address customers' needs in real-time. Social media becomes an essential tool for understanding customer sentiment and adapting strategies accordingly. Employees on the front lines also play a vital role in delivering services and addressing concerns. Furthermore, companies should prioritize brand consciousness and use their platforms to contribute positively to their communities and address social issues. JPMorgan Chase's quick response to the crisis, focusing on customer needs and employee safety, demonstrates the importance of staying proximate and adaptive in uncertain times.
Effective leadership involves engaging in conversations with employees and the community: Leaders should understand and support their communities, adapt to new situations, and provide meaningful actions beyond symbolic gestures.
Effective leadership involves not only understanding and serving customers, but also engaging in ongoing conversations with employees and the community. This was particularly evident during the social justice movements and the COVID-19 crisis. Companies, such as JPMorgan Chase, took significant steps to be involved and support their communities, going beyond symbolic gestures to meaningful actions. For instance, JPMorgan Chase closed its operations on Juneteenth and took part in Blackout Tuesday. In the case of small businesses, the company played a crucial role in providing support during the crisis and continues to do so as part of its mission to serve the economy's backbone. Effective leadership also involves being open to learning and adapting, as demonstrated by the CMO's admission of not being aware of Juneteenth before. Overall, it's about fixing the well, not just the sink, and being present and relevant to the needs of clients and the community.
Promoting diversity and inclusion through accountability: Leaders must prioritize accountability, including regular checks on team diversity, incentives tied to diversity goals, and mandatory ERG involvement, to promote a more inclusive workplace.
Accountability is a crucial aspect of promoting diversity and inclusion in organizations, as discussed by Sandra Sims Williams during the Marketing Hall of Fame event. Accountability starts from the top and requires representation, self-reflection, and measurement. At Nielsen, where measurement is a core function, accountability is being taken seriously through regular checks on team diversity, executive incentives tied to diversity goals, and mandatory involvement in Employee Resource Groups (ERGs) for leaders. Sandra, with her extensive experience, emphasized the importance of educating all employees, regardless of their race or position, about the need for change. She has been advocating for diversity and inclusion for over 20 years and feels a significant responsibility to inform and guide her white coworkers in this journey towards a more inclusive workplace.
Creating a safe space for open dialogue about race and privilege: Leaders must initiate and facilitate respectful, vulnerable conversations about race and privilege with a solid plan for diversity and inclusion to build trust and prevent misunderstandings.
Effective conversations about race and privilege require creating a safe space for open dialogue, without resorting to shame or defensiveness. Leaders, both black and white, have a responsibility to initiate these conversations and facilitate them in a way that encourages vulnerability and self-awareness. Having a well-thought-out plan for diversity and inclusion is crucial, as it helps build trust and prevent misunderstandings. The goal is to engage in decent human conversations, focusing on humanity and understanding, rather than fighting or competing. Companies that lack a detailed plan risk damaging their reputation and causing harm. By starting with a solid plan and fostering open, respectful dialogue, organizations can create a more inclusive and diverse workplace.
Effective communication and collaboration for diversity and inclusion: Provide opportunities, mentoring, support, push creative boundaries, infuse brands with purpose, emphasize authenticity, empathy, and collaboration to promote diversity and inclusion in remote work environments.
Effective communication and collaboration are essential for promoting diversity and inclusion, and companies need to make intentional efforts to facilitate these elements, especially in remote work environments. Sandra Sims Williams, SVP of Diversity and Inclusion at Nielsen, emphasized the importance of providing opportunities, mentoring, and support for diverse associates to help them navigate organizations and reach their full potential. Fernando Machado, global CMO of Restaurant Brands International, highlighted the significance of pushing creative boundaries and infusing brands with purpose. Brett Yormark, co-CEO of Roc Nation Unified, discussed the importance of commercial and strategic partnerships in the entertainment industry. Overall, the panelists agreed on the importance of authenticity, empathy, and collaboration in creating successful and inclusive businesses. Companies can encourage interaction and inclusion among remote employees and teams by implementing social hours, regular check-ins, and providing opportunities for growth and development.
Adapting to Remote Work and Uncertainty: Gary overcame initial skepticism to thrive in remote work, while Roy prioritized employee safety to reopen. Both face uncertainty in the business climate, but remain optimistic and adaptive.
Despite the challenges of remote work and the uncertainty of the current business climate, both Gary and Roy have found ways to adapt and thrive. Gary, who initially was skeptical of remote work, discovered that he could be productive and even enjoyed the experience, but missed the engagement and connectivity of the office. He used this time to reimagine and diversify Roc Nation's business. Roy, on the other hand, took a phased approach to reopening his office while implementing rigorous safety protocols to ensure the safety of his employees. The biggest challenge for both of them has been the uncertainty of external factors, such as how clients will return to the office. Despite these challenges, they remain optimistic and are finding ways to navigate the new norm. Additionally, Gary shared that his speaking career had played a significant role in building his business empire.
Navigating the Uncertainty of Live Events during the Pandemic: Companies are adapting to the pandemic by focusing on digital engagement and rethinking the consumer experience at live venues
The live events industry, including music and sports, is facing significant changes due to the pandemic. The future of live events is uncertain, with many forecasts suggesting a return in Q2 2021. In the meantime, companies like Roc Nation are focusing on engaging and promoting their artists through non-traditional means, such as social media and digital platforms. Venues are also rethinking the consumer experience, with a focus on grab-and-go options and controlling ticket sales to manage manifests. The pandemic has presented challenges, but it also offers opportunities for artists and companies to adapt and innovate.
Artists and athletes prioritize health and wellness: Amidst challenges, individuals focus on self-care and healthy lifestyles, resulting in impressive transformations in fitness and family life for many. Athletes return in top shape, and global marketers innovate to drive growth.
Artists and athletes have used the recent challenges to prioritize their health and wellness, resulting in impressive transformations. Whether it's through fitness or family, many individuals have discovered the importance of self-care and living a healthy lifestyle. This trend has been particularly noticeable in the sports world, with athletes returning to camp in better shape than ever. Additionally, the unique circumstances of the past few months have highlighted the value of family and the importance of putting it first. Global marketers, like Fernando Machado of Restaurant Brands International, continue to push creative boundaries to drive growth and innovation in their industries. Overall, these discussions emphasize the resilience and adaptability of individuals and businesses in the face of adversity.
Driving Business Growth with a Clear Brand Strategy: Fernando's innovative approach to marketing, clear brand strategy, and ability to adapt quickly to the fast-paced environment of social media have contributed to Burger King's success in recent years.
Fernando, the CMO of Burger King, drives business growth by infusing brands with purpose, modernizing their design, and inspiring organizations around brand development. He's been recognized for his innovative approach, winning numerous awards including Adweek's Grand Brand Genius twice, and being named CMO of the Year for 2020 by Ad Age. Fernando attributes Burger King's ability to keep up with culture and generate a high volume of ideas to their clear brand strategy, making it easy for creative partners to understand the brand's tone, personality, and strategy. He believes that marketing and advertising are skills that are acquired over time and that the fast-paced environment of social media requires marketers to be able to adapt quickly and try new things. Fernando's approach of making the brand clear to employees, trying different things, and being able to pivot quickly has been key to Burger King's success in the last half decade.
Adapting to shifting consumer attention: Companies must create engaging content and focus on helping society to gain audience's attention, as traditional TV-centric marketing model is no longer effective. Brands like RBI successfully navigated COVID-19 challenges by offering free meals, coffee, and baked goods, demonstrating authentic actions.
The consumer's attention has shifted dramatically from the traditional TV-centric marketing model, and companies need to adapt by creating interesting and engaging content that merits the audience's attention. The Super Bowl is an exception where people actively seek out ads, but it's essential to understand that most viewers don't want to watch commercials the rest of the year. Brands like RBI, which handles Popeye's, Burger King, and Tim Hortons, have successfully navigated the challenges posed by COVID-19 by focusing on helping society before promoting themselves. These companies put their purpose into action by offering free meals, coffee, and baked goods to those in need, demonstrating that authentic actions speak louder than words. Additionally, companies must be nimble and adaptable in their marketing strategies, as the pandemic forced RBI to abandon old plans and come up with new ones quickly.
Staying Relevant in Changing Contexts: Marketers should adapt quickly and frequently to capitalize on trends and conversations, focusing on relevance rather than just reach.
Context is the most important power in marketing, especially during rapidly changing times. Roy Murtha, Global CMO of Restaurant Brands International, emphasized that marketers should not be afraid of advertising next to COVID-related content because they should consider the context in which they're operating. He also shared that the industry often gets too focused on potential reach and neglects relevance. Instead, marketers should adapt quickly and frequently to capitalize on trends and conversations. Jenny Walls, CMO of Nickelodeon, added that audio is an important touchpoint for engaging audiences beyond the couch, and the intimacy of the audio experience makes it a valuable medium. Overall, the speakers emphasized the importance of staying relevant and adapting quickly to changing contexts to effectively reach and engage audiences.
The Significance of Audio Storytelling and Nickelodeon's Bold Statement on Racism: Nickelodeon made a bold statement by going dark for 8 minutes and 46 seconds during the cultural pivot following George Floyd's death, emphasizing the importance of education and enlightenment in children's programming and the power of audio storytelling as a less expensive medium.
Audio storytelling, specifically podcasts, have become an increasingly important medium, as evidenced by the acquisition of Gimlet by Dan McCallister. McCallister emphasized the significance of audio as a medium that is less expensive to access than television or film, making it an attractive option for both consumers and content creators. During the cultural pivot following the death of George Floyd, Nickelodeon was one of the first networks to make a bold statement by going dark for 8 minutes and 46 seconds. This decision was rooted in the belief that education and enlightenment can begin at a young age and that the platform has the power to foster difficult conversations. The decision to address racial issues in children's programming was not a difficult one for Nickelodeon, as they saw it as an opportunity to open up conversations that can help children understand and address racism, which starts at a young age. The initiative has since grown into a larger campaign and the network continues to put resources towards developing content that addresses these issues.
Adapting to Remote Production and Content Creation at Nickelodeon during COVID-19: Nickelodeon pivoted to remote production and content creation during COVID-19, focusing on animation and utilizing their YouTube team. Despite challenges, they remain optimistic and continue to develop new ideas for programming.
Nickelodeon has had to adapt quickly and creatively during the COVID-19 pandemic, focusing on remote production and content creation. The biggest challenge has been not being able to produce new shows, leading to the development of new remote shows and content. Animation, which takes a long time to produce, has been in a better position than live-action or filming. The company's YouTube team has also been a valuable asset in creating content remotely. Although there are challenges, Nickelodeon is optimistic about the rest of the year and is continuing to come up with new ideas for programming. As a parent working at Nickelodeon, the ability to work on content that her child enjoys and to use him as a focus group has been a rewarding experience.
Effective communication and understanding unique needs of different age groups: Nickelodeon's success lies in adapting franchises and reaching audiences through various mediums, while effective communication and purposeful branding are crucial for driving business growth.
Effective communication and understanding the unique needs of different age groups are crucial in making an impact with educational content, especially when it comes to addressing sensitive topics like racism. Nickelodeon's success with franchises like SpongeBob SquarePants and Teenage Mutant Ninja Turtles lies in their ability to adapt and expand these franchises, reaching audiences through various mediums such as television, Broadway plays, and merchandise. Fernando Mercado, CMO of Burger King, emphasizes the importance of pushing creative boundaries and infusing brands with purpose to drive business growth. Overall, the Marketing for the Now event showcased the power of innovative marketing strategies and the potential for impactful communication across various industries.
Engaging with the audience in real-time through social media using relevant hashtags: Social media presence and live streaming can benefit young artists. Use relevant hashtags to engage with the audience in real-time and don't miss out on upcoming speakers, register for the next episode at vaynerx.com.
The importance of engaging with the audience in real-time through social media using relevant hashtags. Gary Vaynerchuk encouraged listeners to share their thoughts on the episode using the hashtag #marketingforthenow on Twitter. He also highlighted the upcoming speakers for the next episode, including Erica Nardini from Barstool Sports and Jack Hollis from Toyota. Listeners were encouraged to register for the next episode and check out previous episodes on vaynerx.com. A highlighted review from the episode was shared, praising the content focused on hip hop and the potential benefits of social media presence and live streaming for young artists. Overall, the episode emphasized the power of social media and audience engagement.
