Podcast Summary
The Power of Personal Branding: Personal branding is crucial for success. Be authentic about achievements, put yourself out there, and take pride in accomplishments.
Learning from this podcast is the importance of building a personal brand and being authentic about one's achievements. Gary Vaynerchuk, a successful entrepreneur and prolific content creator, shared how his personal brand has overshadowed his substantial business accomplishments, which were not prominently featured on his LinkedIn profile. He emphasized the benefits of putting oneself out there as a human being and the pride that comes with recognizing and showcasing one's accomplishments. Gary also highlighted how his personal brand has contributed to his success, particularly in building an advertising agency and writing bestselling books. Despite the challenges of balancing content creation with actual business achievements, Gary encourages everyone to take pride in their accomplishments and make sure they are accurately reflected in their personal brand.
Creating content publicly can lead to opportunities: Sharing content publicly can open doors and create opportunities, but also comes with criticism and judgment
Creating and sharing content publicly, whether it's on LinkedIn or other platforms, can open doors and opportunities that might not have been possible otherwise. Gary Vaynerchuk's personal brand, built on his book, speeches, and online content, helped him secure meetings with major companies and investors, and even allowed him to invest in Twitter. However, putting yourself out there also means living with the judgment and criticism that comes with it. Vaynerchuk shared an example of losing a potential multimillion-dollar contract due to a LinkedIn video where he used crass language. Despite the negatives, he believes that the benefits of content creation outweigh the drawbacks, and he encourages others to give it a try. However, he acknowledges that dealing with the potential negative feedback can be a significant challenge for many people.
LinkedIn's Evolution as a B2B Marketing Tool: Stay informed and adapt to LinkedIn's evolution as a B2B marketing platform to succeed in the current economic climate.
LinkedIn has undergone a significant transformation from a utility to a content creation and business development platform. It has become a crucial part of VaynerMedia's strategy for B2B marketing, with the agency producing and sharing content on the platform to increase awareness and attract clients. The speaker also believes that marketers need to adapt to the changing economic landscape and understand that the recovery process may be more complex than anticipated due to geopolitical and global economic variables. The speaker emphasizes the importance of staying informed and prepared for potential challenges, rather than relying on the past economic successes. LinkedIn's evolution and its potential for B2B marketing make it a valuable tool for businesses looking to adapt and thrive in the current economic climate.
Impacts of COVID-19 on Food and Beverage Industry: The COVID-19 pandemic is causing significant declines in the food and beverage industry due to travel restrictions and consumer fear, but direct-to-consumer businesses on the Internet are expected to thrive. Businesses should prepare for a new normal where virtual meetings and remote work become the norm, and salespeople must adapt accordingly.
The COVID-19 pandemic will have profound and long-lasting impacts on various industries, particularly those that rely heavily on in-person interactions and international travel. The food and beverage industry, for instance, could experience significant declines due to travel restrictions and consumer fear. On the other hand, direct-to-consumer businesses on the Internet are expected to thrive. The recovery process may take several years, and businesses should prepare for a new normal where virtual meetings and remote work become the norm. As salespeople, it's essential to understand these shifts and adapt accordingly. If the pandemic didn't exist, the advice would be to have more pride in the product or service being sold and to focus on its unique value proposition. The current situation presents both challenges and opportunities, and it's crucial to be agile and responsive to the changing market landscape.
LinkedIn's Power as a Marketing Engine: Salespeople should believe in LinkedIn's unique strengths and communicate its value to clients for successful pitches
Salespeople should have a greater sense of pride and conviction in the products they're selling, especially when it comes to LinkedIn marketing. The speaker emphasized that LinkedIn is a powerful content and marketing engine that is often underutilized by brands and agencies. He encouraged salespeople to be more audacious and assertive in their pitch, highlighting the unique strengths of LinkedIn such as its remarkable organic reach and targeting capabilities. The speaker also shared his personal experience of building a business through the use of underpriced attention, specifically through email marketing and website development, and encouraged salespeople to leverage these tools effectively. Overall, the key takeaway is that salespeople should believe in the value of the products they're selling and communicate that conviction to their clients in order to be successful.
Underpriced marketing channels offer business advantages: Explore underpriced marketing channels like email, Google AdWords, and LinkedIn for faster sales, lower costs, and rich data on professional audiences. Be tactical and creative to maximize opportunities and minimize costs.
Underpriced attention in marketing can lead to significant business advantages, such as faster sales and lower costs. The speaker shared his experience in the wine industry, where he was able to capitalize on the speed and cost effectiveness of email marketing and Google AdWords to acquire customers before competitors. He also emphasized the importance of organic reach on platforms like LinkedIn, which currently offers meaningful organic reach due to less competition for attention. The speaker believes that LinkedIn is an underpriced medium for marketing due to its rich data on professional audiences and potential for organic reach. He also highlighted the importance of being tactical and creative in marketing efforts to maximize underpriced opportunities and minimize costs. The speaker cautioned against assumptions about the value of certain marketing channels based on common metrics like CPM, and encouraged marketers to explore different strategies to make the most of underpriced attention.
Finding underpriced attention in business and social media: Capitalize on opportunities where value isn't being recognized by being an early adopter or content creator on emerging platforms
Gary Vaynerchuk focuses on finding underpriced attention in the world of business and social media. He looks for opportunities where value is not being recognized and capitalizes on them, whether it's through content creation or being an early adopter of emerging platforms. Vaynerchuk doesn't predict future trends but instead positions himself to be the fastest mover when it becomes clear which platforms are winning. He's known for his success on LinkedIn and TikTok, two platforms that might not have been obvious choices for content creation but have proven to be effective. Vaynerchuk's approach to business and social media is about seizing opportunities and building brand through content on the platforms where people are spending their time.
The foundation of marketing success is content production on social media: Prioritize content production on social media for marketing success, maintain physical and mental well-being, and stay adaptable to navigate uncertain times.
The importance of content production on social media platforms for businesses is becoming increasingly crucial, as the next generation of decision-makers grew up engaging with this content. The speaker emphasizes that being an excellent content producer is the foundation for marketing success, and other traditional advertising methods should follow. Additionally, prioritizing physical and mental well-being during challenging times is essential for maintaining focus and productivity. The speaker shares his personal strategy of staying optimistic, acknowledging vulnerabilities, and seeking accountability to maintain a healthy lifestyle. Overall, staying adaptable and focusing on the fundamentals can help businesses and individuals navigate through uncertain times.
Finding Balance During Challenging Times: Self-Awareness, Self-Compassion, and Adaptability: During tough times, focus on self-awareness, self-compassion, and adaptability. Accept past decisions, make positive changes, and let go of entitlement. Regarding sports cards, virtual platforms and tokenization are exciting, but physical cards aren't obsolete yet.
It's important to find a balance between self-awareness and self-compassion during challenging times. Many people are struggling financially due to the pandemic and may be beating themselves up for past decisions. However, it's essential to understand that everyone experiences ups and downs, and it's impossible to change the past. Instead, focus on making positive changes moving forward and learning from past experiences. Another key takeaway is to let go of entitlement and recognize that life isn't always easy. Instead of dwelling on what could have been, focus on the present and find ways to adapt and thrive. Regarding the sports card industry, while virtual platforms like Panini Blockchain are an exciting development, it's unlikely that physical sports cards will become obsolete in the near future. Tokenization and Blockchain technology are still in their early stages, and it will take time for these innovations to fully impact industries like sports cards. Overall, the discussion emphasized the importance of self-awareness, self-compassion, and adaptability during challenging times. It also highlighted the potential of emerging technologies but encouraged a realistic perspective on their impact.
Online vs Offline: Co-existing Rather Than Replacing Each Other: Despite the potential of tokenization and blockchain technology, traditional physical items like sports cards and collectibles may not be completely replaced. Embrace rejection and use it as motivation to push through obstacles.
While the future of tokenization and blockchain technology holds great potential, it may not completely replace traditional physical items like sports cards and collectibles. Gary Vaynerchuk uses the example of online dating to illustrate this point, explaining that despite its massive popularity, there will always be people who prefer traditional methods. He also emphasizes the importance of not caring too much about what others think and using adversity as fuel for success. Drawing from his own experiences as an immigrant and a "bad student," Gary shares that he became comfortable with the word "no" and that this mindset has served him well in his business ventures. He encourages listeners to embrace the discomfort of rejection and use it as motivation to push through obstacles.
Embracing rejection and humility: Stay grounded and aware, don't let success get to your head or criticism bring you down. Practice empathy and humility to reduce negativity.
Embracing rejection and maintaining humility are key to dealing with negativity and criticism, even at advanced stages of success. The speaker emphasizes the importance of not getting too high on accomplishments or too low on criticism, and instead, staying grounded and aware of one's insignificance in the grand scheme of things. Humility and empathy towards others can also make one less susceptible to negativity. The speaker's own experiences and practices of not believing in positive reinforcement and being quick to respond to others' needs illustrate these principles.
Exploring the Future of Live Experiences on LinkedIn: Brands like Olay and SK2 have found success by experimenting with live streaming on LinkedIn and letting data determine what resonates with the audience.
LinkedIn has the potential to become a platform for more live experiences with meaningful conversations, similar to TED talks, but the creator side of the app needs improvement to make live streaming more engaging and accessible. The most impressive brands that Tom and his team have worked with, such as Procter and Gamble's Olay in the US and SK 2 in Singapore, have given them the freedom to experiment with multiple hypotheses and let the data determine what resonates with the audience, which Tom believes will be the creative format of the next century. Tom appreciates the courage of the leaders in these businesses for embracing this approach.
