Podcast Summary
Gary Vaynerchuk's 12-hour TikTok livestream raises over $2.3 million for charity: Gary Vaynerchuk's 12-hour TikTok livestream featured 80 guests, raised funds for charity, and highlighted humanity and kindness.
Gary Vaynerchuk, the CEO and chairman of VaynerX, recently completed a 12-hour TikTok livestream as part of the All In Challenge, raising over $2.3 million for charity. During the livestream, Vaynerchuk had 80 guests join, including celebrities and business leaders. The best part for Vaynerchuk was the opportunity to put humanity and kindness into the world by raising funds for those in need. The All In Challenge has raised over $50 million in total. In business news, VaynerX presents Marketing for the Now welcomes Tara Hassan, the CMO of Petco, to discuss how the company has pivoted during the pandemic. Stay tuned for insights from Hassan and other industry leaders on marketing for the now. And don't forget to check out winetext.com for great wine deals.
Adapting to Customers' Needs in a Crisis: During crises, prioritize authenticity, intent, and quick adaptation to customers' changing needs. Shift to e-commerce and same-day delivery if necessary.
During times of crisis, being a health and wellness company for pets, as opposed to just a retailer, proved essential. Pet parents had concerns similar to human families, making it crucial for businesses like Chewy to quickly adapt. The first step was convincing people of their essential role, then figuring out safe ways to operate and deliver supplies. The biggest operational change was shifting to e-commerce and same-day delivery, using stores as mini distribution centers. Entrepreneurs, both small and large, should learn from this experience that sometimes "close enough is good enough" and quick action is better than waiting for perfection. Authenticity and intent go a long way, even if executions aren't perfect. Adapting quickly and effectively to customers' changing needs is key to success.
Pivoting to prioritize customer needs during times of change: During uncertain times, focusing on customer needs and adapting to new trends can lead to unexpected growth for businesses.
During times of change, an entrepreneurial mindset and a focus on serving customers can lead to unexpected opportunities. For a private equity-held health and wellness company, this meant pivoting from a traditional retail business to prioritizing pet care and creating better experiences for customers. On a personal level, Tarek observed a shift in consumer behavior towards TikTok as a unifier and a source of entertainment during quarantine. The company also saw a massive move towards online ordering, with many first-time online shoppers expressing a desire to continue this trend. Despite the challenges of competition and the COVID-19 pandemic, the company's ability to adapt and prioritize customer needs led to unexpected growth. The importance of content and serving customers, rather than just selling to them, has become a mantra for the company during this time.
Embracing Technology Across Generations: Businesses must adapt to the changing digital landscape, understanding human behavior in an omni-channel world and the importance of media and creative collaboration. Grandparents are now a significant customer base, and interconnectedness across touchpoints is key.
Older generations are embracing technology and digital platforms at an unprecedented rate, and businesses need to adapt to this reality. The speaker shared their experience of acquiring a large customer base, including grandparents, during the pandemic. They also discussed the importance of understanding human behavior in an omni-channel business and the need for media and creative to work together. The speaker expressed their belief that as people become more connected and omni-channel in their lives, the importance of media and creative will become more understood. Additionally, they mentioned plans to expand their business into health and wellness, recognizing the interconnectedness of various touchpoints. Overall, the message is that businesses must adapt to the changing digital landscape and recognize the importance of technology in all aspects of life, regardless of age.
Advancing Women and Gender Equality through Collaboration: The Female Quotient is an organization that aims to add more women to any equation to achieve a return on equality, inspiring the next generation, creating a support system, and helping companies close the gender gap.
The Female Quotient is an organization dedicated to advancing women and gender equality through collaboration. It aims to add more women to any equation to achieve a return on equality. The organization does this through pop-up experiences at industry conferences, inspiring the next generation of leaders, and creating a support system and community. They also help companies close the gender gap and provide a pathway for women to reach leadership levels. Shelley Zalis, the founder, was inspired to start this organization after experiencing discrimination as the only female CEO in her industry. She believes that emotions and passion are valuable assets in the workplace, and that women's differences should be celebrated as strengths. The Female Quotient has now pivoted to virtual events due to the pandemic, but the energy and support remain strong. It's a pay-it-forward moment where we all inspire and support each other to create forward momentum towards gender equality.
Embracing Emotional Intelligence as Leadership Strengths: Emotional intelligence, often overlooked or hidden, is crucial for effective leadership. Society's historical discouragement of emotional expression, particularly for men, hinders understanding and integration of 'soft powers'. To create change, we must make these strengths visible, embrace the gray areas, and collaborate for true gender equality.
Emotional intelligence, including qualities like resilience, collaboration, passion, empathy, and nurturing, are crucial leadership strengths, yet they are often overlooked or hidden. Society, particularly for men, has historically discouraged the expression of emotions, leading to a lack of understanding and integration of these "soft powers." To create meaningful change, it's essential to make these strengths visible and embrace the gray areas, such as subjective creative decisions. Additionally, true gender equality is a social and economic issue that requires the collaboration of all genders. The Female Quotient, an organization that started as a response to the lack of women in male-dominated industries, has evolved into the Equality Lounge, emphasizing the importance of working together to break down barriers and create a more inclusive and equitable world.
Shift towards equality in the household: Women taking on more leadership roles and men becoming nurturers can lead to a better normal in all aspects of life, including the workplace. Individuals have the power to make a difference and bring about change.
Caregiving and equality start at home. The traditional roles of men and women should be reevaluated, with women taking on more leadership roles and men becoming nurturers. This shift towards equality in the household can lead to a better normal in all aspects of life, including the workplace. The current crisis presents an opportunity for change, and it's essential to focus on creating a better future rather than dwelling on the past. Each individual has the power to make a difference, and communities, such as the women's lounge in sports, can be a source of strength and inspiration for change. Let's not wait for change to happen but actively push for it, as legacy moves faster than reality. The only way to bring about change is through the actions of every individual person.
Empathy, collaboration, and action in building communities: Embrace change, stay curious, and collaborate with others to make a significant impact in communities and industries
Building and supporting communities, whether it's a girl crew or any other type of group, is essential for progress and equality. Gary Vaynerchuk and Shelly Zalis emphasized the importance of empathy, collaboration, and action in creating positive change. Jesse Staley, the CMO of Converse, shared his experiences of staying current and engaged in the digital world through curiosity and practice. Ultimately, the discussions highlighted the need for individuals to be active participants in their communities and industries, rather than just observers or critics. By embracing change, staying curious, and collaborating with others, we can make a significant impact on the world.
Connecting with communities during times of change: During uncertain times, innovate by highlighting community creators, build a strategy aligned with the organization's mission, and collaborate to ensure buy-in.
During times of change and uncertainty, such as the COVID-19 pandemic, companies have an opportunity to innovate and connect more deeply with their communities. For example, Converse was able to do this by highlighting and working with creators from their community, giving them a platform and exposure. This not only drove authenticity and connectivity but also helped drive business performance. Another key takeaway is the importance of understanding the company's mission, vision, and positioning as a CMO, and building a strategy that the organization believes in. This requires diving deep into consumer research and bringing the right people in to listen and collaborate. The CMO role is not just about executing a strategy, but building it together with the organization to set the North Star. Lastly, the biggest challenge of making a big leap to a more prominent role, such as CMO, is not just executing a strategy but being a part of building it. It requires a deep understanding of the company's mission, vision, and positioning, and the ability to build credibility and connection with the organization to ensure buy-in.
Understanding and connecting with audience is key to effective business positioning: Businesses must listen, learn, and build relationships based on shared values and cultural significance to effectively position themselves. Be transparent, authentic, and collaborative to drive progress.
Effective business positioning requires genuine connection and understanding of the audience. This means actively listening, learning, and building relationships based on shared values and cultural significance. For example, as the CMO of Converse, there is a great sense of responsibility and honor due to the brand's historic role as the first youth brand and its association with cultural game changers. To move forward, it's essential to be transparent, authentic, and collaborative, allowing individuals to feel seen and valued as partners in driving progress. The new normal has already been established, and businesses must adapt and get on board or risk being left behind.
Rotating roles, expanding horizons, and working with talented people keep things fresh in a long-term career: Staying in one organization for a long time requires trying new roles, continuous learning, and collaborating with skilled individuals to keep your career fresh and grow.
Staying in one organization for a long time and advancing to the top involves keeping things fresh by trying new roles, expanding horizons, and working with talented people. Todd Kaplan, Vice President of Marketing at PepsiCo, shared his experience of staying with the company for 14 years by rotating roles, embracing learning, and working on culturally significant projects. He discussed the challenges and opportunities of starting the year with a successful Super Bowl campaign and then navigating the pandemic's impact on the food and beverage industry. Despite the challenges, PepsiCo continued to innovate and connect with consumers through partnerships and campaigns.
Prioritizing people during crises: During crises, focusing on employees' safety and authentic connections can help organizations adapt and thrive. Pivoting brand efforts and embracing remote work can lead to increased efficiency and a more connected team.
During times of crisis, focusing on people and creating authentic connections can help organizations adapt and thrive. PepsiCo responded to the COVID-19 pandemic by prioritizing the safety of their employees and pivoting their brand efforts to provide unity and entertainment through initiatives like "1 World Together at Home." Additionally, the shift to remote work has presented challenges and opportunities, leading to increased efficiency and a more connected team despite the physical distance. The human element has been preserved through technology, making the team feel closer than ever.
Understanding cultural contexts during major events: Focusing on audience relevance and shared cultural experiences is crucial for businesses to effectively engage with their audiences during times of change.
During times of change, making genuine connections and understanding cultural contexts are crucial for businesses to adapt and engage with their audiences effectively. Todd Kaplan, from PepsiCo, shared his insights on how they approach major events by focusing on the relevance of the audience and the shared cultural experiences they bring. He emphasized the importance of a "culture in" mindset instead of just seeing these events as a pool of eyeballs. Additionally, Todd discussed how his personal consumer behavior has shifted during the pandemic, leaning more into digital services and finding new ways to make the most of his home environment. This shift in behavior is a reflection of how people are finding innovative ways to adapt and keep things fresh during uncertain times.
Unexpected opportunities can lead to fulfilling careers: Corey's career in beauty was unplanned but resonated with her values and led to a mission-aligned role at e.l.f. Cosmetics.
Sometimes our career paths don't follow our initial plans, but unexpected opportunities can lead us to industries and companies that align better with our values and passions. Corey's story is a great example of this. She initially aimed for a career in finance but was drawn to the beauty industry after a chance encounter with LVMH. The beauty industry, as Corey discovered, is not just about selling products but also about helping people feel better about themselves, boosting their self-esteem and confidence. At e.l.f. Cosmetics, Corey found a mission that resonated with her - making high-quality beauty products accessible to everyone. The company, founded on the impossible mission of selling prestige quality products for $1 over the internet, embodies the spirit of innovation and disruption that Corey values. The fast-paced and agile culture of e.l.f. allowed her to make an impact and see her ideas come to life. This experience shows that sometimes the best career decisions are the unexpected ones.
Understanding Consumers: ELF Cosmetics' Approach: Successful businesses prioritize consumer insights, get close to customers, and adapt strategies based on their needs and preferences.
Successful businesses, like ELF Cosmetics, prioritize being consumer-centric and act on consumer insights. Corey, ELF's Chief Marketing Officer, emphasized the importance of being close to the customer and understanding their needs, preferences, and shopping habits. He shared that ELF's success is rooted in this approach, which involves getting inside the consumer's room, house, and medicine cabinet, and even texting them on weekends with insights. Corey admitted that this approach may make him less popular in meetings, but it's essential for ELF's strategy, creative, and account teams. He also highlighted TikTok as an exciting platform for consumer engagement and brand growth. Overall, Corey's message is clear: the consumer should always be at the center of the table, and businesses that truly listen and act on consumer insights will thrive.
Understanding the nuances of Instagram and TikTok for brand success: To succeed on social media, brands must adapt to each platform's unique features and create authentic, resonating content. Music strategy is key on TikTok, while Instagram requires a focus on imagery and self-expression.
Social media platforms are constantly evolving, and it's essential for brands to adapt and engage with their audience authentically on the platforms where they are most active. Instagram and TikTok serve different purposes – Instagram can make one feel inadequate due to the focus on imagery and comparisons, while TikTok allows for self-expression and creativity through music and dance. Brands that want to succeed must understand these nuances and create content that resonates with their audience. Music strategy is crucial on TikTok, and those who fail to adapt may struggle to keep up. Companies can learn from the success stories of those who have embraced the unique aspects of each platform and pushed boundaries with innovative content. Ultimately, it's about respecting the context of each platform and leaning into what works to capture the attention of the audience.
Linda Boff shares her experience of adapting to unexpected challenges at GE: Successful leaders and companies must remain adaptable and open to new ways of working during uncertain times, even if it means pivoting from personal preferences.
Even successful leaders and companies can be caught off guard by unexpected challenges, and it's important to remain adaptable and ready to pivot. Linda Boff, the Chief Marketing Officer of GE, shared her experience of feeling optimistic about the company's turnaround, only to have the business largely dependent on aerospace and aviation put on hold due to the pandemic. Despite the setback, Boff emphasized the importance of telling the company's story and finding new ways to connect with teams and stakeholders virtually. She also highlighted the importance of remaining flexible and open to new ways of working, even if they don't align with personal preferences. Overall, the conversation underscored the importance of resilience and adaptability in the face of uncertainty.
New opportunities for businesses in virtual interactions: Companies can reduce costs and reach customers innovatively by focusing on core strengths (technology and people) and exploring new platforms (LinkedIn) during the shift to virtual interactions.
The shift towards virtual interactions and connectivity, as seen in the significant increase in telemedicine at Memorial Sloan Kettering from 40 chats a month to 7,000, offers new opportunities for businesses to reduce costs and reach customers in innovative ways. Companies, like the one discussed, have had to adapt during the pandemic by focusing on their core strengths, such as technology and people, and finding authentic ways to engage with their audiences. This can include recognizing the essential role of employees and highlighting their contributions, as well as exploring new platforms like LinkedIn for marketing efforts. While the return to normalcy is desired, the pandemic has also shown that small, smart actions can make a big impact.
Discovering new local businesses and cherishing the present moment: Embrace local shops, appreciate the present, and maintain virtual connections for a more fulfilling life
During these unprecedented times, supporting local businesses and living in the moment have become important values for many people. The speaker shares her experience of discovering new local shops and services, such as Goldbelly, and appreciating the present moment more than ever. She also mentions the increased efficiency and potential for closer relationships that come from virtual meetings. The speaker encourages continuing some of these behaviors even after the pandemic, as they have brought positive changes to her life. Additionally, she expresses gratitude for the community and connections made through virtual events and podcasts, and encourages listeners to engage with and support each other online.
