Podcast Summary
Understanding the modern attention graph: Stay ahead of the curve by executing in the attention economy through various channels like KOLs, Facebook ads, AR, and voice technologies.
In today's rapidly changing business landscape, the ability to grab and hold people's attention is more important than ever. Gary Vaynerchuk, in a keynote speech from 2017, discussed the challenges of understanding the modern attention graph and the opportunities it presents. He emphasized the importance of executing within these environments rather than just consuming content. Whether it's through KOLs, Facebook ads, or emerging technologies like AR and voice, those who are willing to get their hands dirty and stay grounded in the current infrastructure will have a significant advantage. Vaynerchuk encourages marketers and businesspeople to stop just talking about these topics and start taking action. By doing so, they can stay ahead of the curve and capitalize on the opportunities presented by the ever-evolving attention economy.
Staying Relevant in Marketing: Create, Test, and Adapt with Gary Vaynerchuk: To succeed in marketing, create and test content, adapt to new trends, and focus on both product quality and attention distribution.
Staying connected to the craft and understanding the latest trends in marketing are essential for success in today's rapidly changing digital landscape. Gary Vaynerchuk, a well-known marketing expert, emphasized the importance of creating more content, testing different variables, and staying relevant to keep the audience engaged. He shared his personal experience of adapting to new platforms and features to remain at the forefront of marketing. Vaynerchuk encouraged the audience to become practitioners instead of just talking about marketing theories. He emphasized that the best product will always win if people know about it, and marketing is a never-ending game of attention distribution and arbitrage. In essence, marketers need to be agile, adapt quickly to new trends, and focus on both the quality of their product and the attention they bring to it.
Underpriced marketing opportunities in biddable marketplaces: Capitalize on affordable marketing costs on Google, Facebook, and Snapchat while they last. Focus on delivering a quality product or service and mastering creative marketing to maximize profits.
This is an exceptional time for marketing due to the underpriced biddable marketplaces like Google, Facebook, and Snapchat. The reason for this is that the largest companies are not spending enough money on these platforms yet. However, this opportunity won't last forever. When these companies start properly investing, the costs will rise and the opportunities will become less profitable. Therefore, it's crucial for businesses to take advantage of this era by focusing on delivering a quality product or service, and mastering the creative aspect of marketing on these platforms. Additionally, the speaker's enthusiasm for voice technology stems from his past experience with Uber, where he missed the opportunity to invest early because he didn't fully understand the company's value proposition. He encourages everyone to keep an eye on emerging trends and technologies, and to be open to new opportunities.
Exploring the Opportunity in Audio and Voice Technology: Audio and voice technology offer passive consumption, save time, and cater to the importance of time management. Businesses can engage with their audience in a more efficient and valuable way.
Audio content, such as podcasts, offers passive consumption and respects the audience's time, making it an attractive medium for businesses looking to communicate value and build awareness. The speaker is bullish on voice technology, particularly podcasting and voice search, as they save time and cater to the increasing importance of time management in our lives. The opportunity in audio and voice technology is significant, but many people are unaware of it. To succeed, it's essential to take action, overcome insecurities, and focus on consumer behavior. Audio and voice technology represent a massive opportunity for businesses to engage with their audience in a more efficient and valuable way.
Staying Informed and Adapting Trends for Business Success: Stay informed about US trends, adapt them to Southeast Asia market, understand consumer culture, effectively promote your product to succeed in business.
Having a personal brand is not a requirement for building a successful business. The real key to success lies in having a good product, making people aware of it, and having the structure to effectively promote it to your target audience. The speaker emphasized that entrepreneurs in Southeast Asia have a unique advantage due to their ability to observe trends in the US and adapt them to their own market. He encouraged attendees to take full advantage of this advantage by staying informed and interpreting American trends for their own businesses. Another interesting point he made was about LinkedIn and its potential benefits for B2B marketing. He encouraged those in the B2B sector to take note of LinkedIn's potential and to fully utilize the platform for marketing purposes. Overall, the speaker emphasized the importance of staying informed, understanding consumer culture, and effectively promoting your product to succeed in business.
Shift from sales pitch to media company: Companies should produce valuable content to build brand awareness instead of solely focusing on advertising. Hire an editor-in-chief to oversee content production and distribution on platforms like LinkedIn to generate inbound opportunities and build a stronger connection with the audience.
Instead of focusing solely on advertising to generate sales, companies should adopt a media mindset and produce valuable content to build top-of-the-funnel brand awareness. This approach was emphasized by the speaker's success in creating a wine show on YouTube, which shifted from a sales pitch to a media company producing content. Historically, companies like Michelin and Guinness have also used media to drive sales by providing valuable information and creating engagement. To execute this strategy, companies should consider hiring an editor-in-chief to oversee content production and distribution on platforms like LinkedIn. By focusing on media rather than just advertising, companies can generate more inbound opportunities and build a stronger connection with their audience.
Ego can hinder successful hiring decisions: Admit mistakes and let go of bad hires, be open to learning from experiences, and persist and adapt to new opportunities for success in hiring and content creation
Ego can hinder successful hiring decisions in businesses. Many business owners believe they are good at hiring, but the reality is that even experienced individuals can make poor hires. The consequences of keeping a bad hire can be detrimental to a business. Instead, it's essential to admit mistakes and let go of employees who are not a good fit as soon as possible. Another key takeaway is the importance of persistence and adaptability. Melvin shared his story of how ignoring him led him to find success in vlogging. He acknowledged that Gary's initial disregard of his efforts ultimately helped him discover a new path. Additionally, Melvin's success in video led him to consider expanding into podcasting. The speaker emphasized that there is no one-size-fits-all approach, and individuals should consider their ambitions when deciding which content format to focus on. In conclusion, ego can be a significant barrier to effective hiring, and it's crucial to be open to learning from mistakes and adapting to new opportunities. Persistence and adaptability are essential qualities for achieving success in various areas, including content creation.
Creating valuable content is key, worry less about sleep hours: Focus on creating valuable content when awake, transcribe videos for podcasts, determine primary goal, and grow audience before monetizing.
Focus should be given to creating valuable content when awake, rather than worrying about sleep hours. Gary Vaynerchuk emphasized this in his discussion, sharing his experience of transcribing videos into podcasts without adding sufficient value. He advised that as a one-man band, vloggers could extract audio from their videos and use it for podcasts. Kenneth, a marketer writing a book, asked for guidance on scaling up his Facebook live weekly show. Gary suggested considering the show as a gateway drug to a creative shop, building a SaaS product for mompreneurs, or becoming a personal brand. However, Kenneth should first determine his primary goal and work backwards. Gary also advised Kenneth not to focus too much on monetization yet and to continue growing his audience through valuable content.
Find your 'Superman' project: Balancing monetized work and passion projects is essential for personal growth and fulfillment.
While monetization is important, it's not everything. Gary Vaynerchuk, a successful entrepreneur and media personality, emphasized the importance of finding passion projects that cannot be monetized directly. He uses the analogy of Superman and Clark Kent to illustrate this point. While Clark Kent pays the bills, Superman represents the creative and fulfilling aspects of one's life. Trying to monetize Superman would be a mistake and could undermine both the personal and professional aspects of one's life. Radu, a podcast host and headhunter, shared his experience of starting a niche podcast and building a community in a specific industry. He agreed that focusing on a specific audience and providing value to them can lead to success, even if it takes time. The key is to find a balance between monetizing your professional skills and pursuing your passions, which may not be directly monetizable but are essential for personal growth and fulfillment.
Risks of Expanding a Business Too Quickly: Expanding a business too quickly without being fully prepared can lead to failure. Stay focused, understand your brand's readiness, and harness the power of word-of-mouth marketing.
Expanding a business too quickly without being fully prepared can lead to failure. The speaker, who is a specialist in logistics supply chain and podcast host, shared his experience of trying to grow his HR consulting business beyond its core focus. He acknowledged the opportunity he had but recognized that his brand and business weren't ready to take on new markets and services. The speaker emphasized the importance of staying disciplined and focused on what one can do well, as opposed to getting greedy and trying to do too much at once. He also touched on the power of word-of-mouth marketing and how it will continue to evolve with the help of social media. Overall, the conversation highlighted the importance of being prepared, staying focused, and understanding the potential of various marketing channels.
Making the Decision to Take on Investment: Consider personal goals, values, and company impact before deciding whether to accept investment, align with investors, and weigh benefits against costs.
Growing a business comes with important decisions, such as whether to grow organically or take on investment to accelerate growth. If considering the latter, it's crucial to ensure alignment with potential investors, understand the implications of giving up control, and carefully weigh the potential benefits against the costs. Ultimately, the decision depends on personal goals, values, and the desired impact on the company. It's essential to have clear expectations, thoroughly consider all aspects, and engage in open communication before making a commitment. Remember, patience and strategic planning can lead to significant long-term success.
Building Authentic Relationships with Customers: Maintain brand identity while making strategic decisions, adapt to changing markets and technologies, and create content to build a personal brand.
Building authentic relationships with customers is crucial for businesses, especially in the digital age. Brands that come across as friendly and relatable can create strong connections with their audience. However, maintaining this authenticity at scale can be challenging, and investors may not always align with the same values or approach. It's essential to strike a balance between staying true to your brand identity and making strategic business decisions. Another key takeaway is the importance of adapting to changing markets and technologies. In the case of a traditional billboard business, investing in digital and diversifying the business model could help mitigate potential losses due to technological advancements. Lastly, creating content, whether it's a blog, vlog, or podcast, can be an effective way to build a personal brand and gain experience. Even without prior expertise, documenting your journey and sharing your learning process can attract a following.
Documenting business journey and sharing lessons learned: Stay true to your message, share failures and lessons to connect with audiences, and focus on unique selling points to stand out from competitors.
Authenticity and transparency are key in creating engaging content, even for those just starting their business journey. Eric shared his experience of documenting his own journey to becoming a businessman, emphasizing the importance of sharing failures and lessons learned. He encouraged starting a podcast or video blog, even if one isn't comfortable enough to discuss all failures. Gary, on the other hand, discussed the importance of understanding why customers choose a business and focusing on that unique selling point. He advised against worrying about competitors with larger marketing budgets and instead, figuring out what sets the business apart. Both Eric and Gary emphasized the importance of staying true to one's message and focusing on authenticity to connect with audiences.
Understanding customer base is key to business success: Effectively target niche markets, use influencer marketing, share success stories, and consider equity stakes for tech co-founders.
Understanding your customer base is crucial for business success. For instance, targeting forex traders, who use servers and are active on social media platforms like Instagram, can be a profitable niche. Influencer marketing and sponsorships with influential personalities in this niche can be effective ways to reach and engage with potential customers. However, it's essential not to waste time trying to convince skeptical businesses about the importance of social media. Instead, sharing success stories and statistics can be more persuasive. Additionally, expanding a business into a new area, such as starting a tech company, requires careful consideration. Giving a tech co-founder a significant equity stake is crucial to ensure their commitment and dedication to the project.
Navigating the tech business as a freelance digital marketer: Understand the new market context, build a personal brand, stay informed, balance work and personal life, and remember dedication, not constant hustle, leads to success.
Entering the tech business to build a tech product comes with unique challenges and requires a different mindset compared to traditional professional services. The leverage shifts to the tech architect and executor, so it's crucial to be aware of this before starting. Building a tech platform can be a viable way to scale a business, but it's essential to understand the new market context. As a freelance digital marketer, staying updated and delivering value can be challenging. Building a personal brand and being a practitioner are effective strategies to stay informed and become a better strategist. Don't be too hard on yourself, as it's important to balance work and personal life. While it's inspiring to emulate successful figures like Gary Vaynerchuk, it's essential to find a balance that works for you. Building a tech product requires dedication, but it's important to remember that constant hustle isn't necessary for success.
Focus on being a better alternative in your industry: Strive for improvement, understand KPIs, and allocate resources effectively to maximize returns and minimize risk. Stay informed about regional trends to adapt accordingly.
It's essential to have a realistic perspective and focus on being a better alternative in your industry instead of striving for an unattainable perfect standard. Additionally, understanding your business's key performance indicators (KPIs) and effectively allocating resources between brand building and conversions can help maximize returns and minimize risk. The next wave of media and tech innovation is expected to come from various regions, including America, mainland China, Europe, and Southeast Asia, due to the unique entrepreneurial ecosystems and macroeconomic scenarios in these areas. It's crucial for businesses to stay informed about these trends and adapt accordingly.
Building a career in US or China: Personal comfort and alignment matter: Businesses should experiment with digital marketing channels and focus resources on effective strategies, while individuals should consider personal comfort and alignment with political and economic systems when deciding between US and China career opportunities.
When it comes to building a career, the decision between focusing on opportunities in the United States or China depends on personal comfort and alignment with the political and economic systems. Both countries offer unique advantages and challenges. For businesses looking to expand their marketing efforts, transitioning from traditional methods to digital marketing can be a worthwhile investment, but it requires time, money, and a strategic approach. In the context of the conversation, the speakers advised against jumping into a podcast without proper preparation and understanding of the resources and time commitment involved. Instead, they suggested experimenting with various digital marketing channels, such as Facebook conversion ads and SEO, and focusing resources on what proves to be effective. Ultimately, the key is to approach digital marketing with a practical mindset and a willingness to learn and adapt.
Targeted pre-roll video advertising on Google and YouTube based on search history: Businesses can reach potential customers interested in specific topics through targeted pre-roll video ads on YouTube, even if they're watching unrelated content. Experiential marketing is crucial for B2B VR businesses, especially in luxury markets. Clear pitches and potential case studies are essential when selling VR experiences to skeptical businesses.
Google and YouTube offer a targeted pre-roll video advertising product based on search history. This means that businesses can reach potential customers who have shown interest in specific topics, even if they're watching unrelated content on YouTube. For example, someone searching for "wine things" on Google may see wine ads when they watch unrelated videos on YouTube. This is a powerful tool for businesses looking to reach their audience effectively. Another key point from the discussion was the importance of experiential marketing for B2B VR businesses. The speakers suggested focusing on events and activations as a viable way to sell VR experiences to businesses, especially in luxury markets. They recommended identifying and reaching out to companies that have exhibited at high-end events in the past. Lastly, the speakers discussed the importance of having a clear pitch and a list of potential case studies when selling VR experiences to skeptical businesses. They emphasized that it's important to believe in the product and its potential ROI, even if there aren't yet many proven case studies. Overall, the discussion highlighted the importance of targeting and experiential marketing for B2B VR businesses, as well as the value of having a clear and compelling pitch.
Transitioning between learning and executing: Know when to focus on skills vs action, but don't wait too long to share early work for valuable feedback
While taking action is important, there is also a time for honing skills and sharpening your craft. This was a topic of discussion during a conversation between individuals sharing their experiences in various industries, from fitness and social media to film and media. The key is to know when to transition between learning and executing. For instance, an individual who has recently moved from the fitness industry to film and media is currently focusing on learning and improving his content to make it noteworthy before sharing it with a wider audience. However, it's also important to remember that putting out early work or small pieces of content can provide valuable insights and feedback. As one speaker noted, there's less damage to your intellectual property in today's saturated digital world compared to the impact it may have on your own self-perception. Ultimately, the decision to share or hold back should be based on a sense of readiness and the belief that your work has something meaningful to offer.
The importance of philosophical concepts for personal growth and business success: Focus on executing intangible ideas for growth, criticize current education system, prioritize passion and action over theoretical knowledge, and don't let fear of regret hold us back.
According to Gary Vaynerchuk, the value of philosophical and intangible concepts is essential for personal growth and business success. He emphasized the importance of executing these ideas and making them practical, rather than being too theoretical. Vaynerchuk also criticized the current education system, particularly higher education, for focusing too much on brand and not enough on actual education. He suggested that professors could bypass universities and go directly to consumers to provide valuable education. Vaynerchuk's overall message was to prioritize passion and action over theoretical knowledge and to not let fear of regret hold us back from pursuing our goals.
Challenging the status quo in education: Exploring new business models like Mission U and emphasizing self-awareness in children can help address issues in the current education system.
The current education system, specifically universities, is perceived as self-serving and broken. Many believe that it's time to reimagine the way education is delivered and paid for. A new business model, such as Mission U's, which offers education for free in exchange for a percentage of graduates' salaries, is one attempt to challenge the status quo. However, even this model raises questions about who it truly serves and whether it's sustainable. The speaker, Gary, shares his belief that the key to success lies in teaching self-awareness to young children. He also acknowledges his own challenges in scaling his consulting business due to his high standards and ego. Ultimately, the conversation highlights the need for innovation and introspection in various sectors, including education and business.
Balancing standards and growth in business: Don't hold employees to unrealistic standards, build a team of complementary strengths, and focus on saving, producing, and being interesting to grow a successful business.
Building a business requires a balance between maintaining high standards and allowing for growth and flexibility. Gary Vaynerchuk emphasized the importance of not holding employees to unrealistic or arbitrary standards, which can hinder business growth and lead to high turnover. Instead, building a team that complements each other's strengths and allowing them to excel in their own ways can lead to a successful business. Rayson, a psychiatric nurse and founder of Ragacy, was seeking advice on leaving nursing to pursue motivational speaking and content creation. Gary suggested focusing on saving money, producing more content, and being more interesting to grow an audience. However, he also encouraged Rayson to consider building her own brand and audience before relying too heavily on guests or external content to drive her platform.
Embracing challenges for personal growth: Success often comes from overcoming adversity and focusing on personal goals, rather than comparing oneself to external benchmarks
Adversity and disadvantages can be transformative advantages in life. Gary Vaynerchuk, a successful entrepreneur, believes that it's impossible to predict how success would have been attained under different circumstances, such as being born with a disability. Instead, he emphasizes the importance of embracing challenges and using them to fuel personal growth. The speaker's brother, born with cerebral palsy, is an inspiring example of overcoming adversity and striving for independence. It's crucial for individuals to focus on their own goals and motivations, rather than getting lost in the stories of others or comparing themselves to external benchmarks. Ultimately, the best way to make a positive impact on the world is by focusing on helping one person at a time.
The Importance of Personal Accountability: Understand your responsibilities and the consequences of your actions, as they impact personal relationships and professional brands. Take ownership and be smart about your choices.
Individuals need to understand their responsibilities and the potential consequences of their actions. In the conversation, it became clear that one person believed they were not responsible for the outcomes when things went wrong. However, the speaker made it clear that this was not the case, emphasizing that both personal relationships and professional brands can suffer when things don't go as planned. The speaker encouraged the person to be smart and take ownership of their actions. Despite the person's limited reading habits, the speaker recommended a book to broaden their perspective. Lastly, the speaker expressed the importance of leaving a rating on iTunes to help spread the word about the podcast. Ultimately, the conversation underscored the importance of personal accountability and the power of individual actions.
