Podcast Summary
Exploring new revenue streams beyond brand deals: Consider launching a CPG brand for long-term passion and NFTs for unique fan experiences, but carefully evaluate the market and utility before proceeding.
When it comes to monetizing a social media presence, exploring various avenues beyond the primary source of income is essential for long-term sustainability. The speakers in this conversation are currently making most of their money through brand deals but are looking to expand into new areas. They are planning to launch a Consumer Packaged Goods (CPG) brand and exploring the idea of Non-Fungible Tokens (NFTs). The CPG brand represents a long-term passion, while the NFT could offer unique experiences to fans. However, the speaker expresses caution about the current NFT market, which they believe is oversaturated and difficult to navigate. Their suggestion is to carefully consider the utility and format of the NFT before proceeding. They propose offering tiered access to fans as a potential approach, with different levels offering varying degrees of exclusivity. Ultimately, the key takeaway is that leveraging direct relationships with fans, as Gary Vaynerchuk has done, can provide unique opportunities for monetization and engagement.
Building a successful consumer brand goes beyond just having a large following: Delivering value and changing people's lives creates a loyal community and holds long-term value. Understanding audience desires and delivering on them is key to success.
While having a large following can be beneficial for a consumer brand, it's not the only factor that ensures success. The depth of the relationship between the brand and its audience, built on providing value and changing people's lives, is crucial for creating a loyal community and holding long-term value. Cooking, as a genre, is a big market with varying levels of engagement. Access to the brand or creator is a key desire for consumers. However, having a proven track record of success and delivering on that promise can significantly impact the perceived value and investment potential. In the case of Book Games, the community was built over 16 years, and the value exchange was significant. The success of the NFT strategy was a result of this deep-rooted relationship. Ultimately, understanding what your audience truly wants and delivering on it is the key to building a successful consumer brand.
Diversify your content for growth: Don't limit yourself to one area of interest or content style, explore and share different aspects of yourself to reach a wider audience.
Expanding your content and showcasing different aspects of yourself can lead to growth, even if it requires effort and discipline. The speaker emphasized the importance of not being too focused on a single platform or content type, and encouraged diversifying content to reach a wider audience. He mentioned his own experience with TikTok and shared how he initially only focused on a specific niche, but later realized the value of sharing various interests. He suggested producing content consistently while also experimenting with new topics or angles. The speaker warned against becoming too obsessed with the system or algorithm, and encouraged a more organic and flexible approach to content creation. Overall, the key takeaway is to not limit yourself to one area of interest or content style, but rather embrace the opportunity to explore and share different aspects of yourself with the world.
Expand your presence across platforms and showcase different aspects of yourself: Build multiple channels, cross-pollinate content, be authentic, and connect with a larger audience.
Expanding your presence across various platforms and showcasing different aspects of yourself to your audience can help grow your brand and reach a larger audience. Gary Vaynerchuk emphasized the importance of building multiple channels, even if they are smaller than your main one, and cross-pollinating content between them. He also mentioned the importance of being authentic and vulnerable, and not being too focused on perfection or views numbers. The everyman approach, as demonstrated by his success with Wine Library TV, can help build a deeper connection with your audience and increase their love for your brand. It's important to remember that not every post needs to be a home run, and that smaller view counts can still lead to a dedicated and engaged audience. So, in essence, be open to showing more of yourself and building a presence across multiple platforms to reach and connect with a larger and more diverse audience.
Using relatable elements to create connections in discussions on environmental issues: Incorporating relatable elements from everyday life can help create meaningful connections during discussions on environmental issues, making conversations more engaging and effective.
While it's important to share knowledge and experiences, it's equally important to ensure that the topics of discussion are relevant and appropriate for the context. Sharing personal details might not be necessary or beneficial in all situations, but incorporating relatable elements from everyday life can help create meaningful connections. For instance, in the context of environmental issues, discussing favorite foods like blueberries or beverages like root beer, or sharing common interests like sports teams or hobbies, can serve as conversation starters and create a sense of common ground. Additionally, curiosity and openness to learning new things, even if only for a few seconds, can lead to valuable insights and discoveries.
