Discussing The Current State of Marketing with Stephen A. Smith

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Discussing The Current State of Marketing with Stephen A. Smith

Gary Vaynerchuk 22.02.2024 21 190 просмотров 667 лайков

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Today's video is an interview I had recently on the Stephen A. Smith show during the Super Bowl. I share my thoughts on why big companies still waste money on TV advertising, the current state of advertising, and much more! Here are the topics we discussed during the episode: 0:00 - 1:02 Intro 1:02 - 1:56 Hard work and serendipity 1:56 - 4:10 Being grateful for what you have and working for more 4:10 - 5:22 Why do people follow GaryVee? 5:22 - 7:20 The current state of advertising 7:20 - 9:31 How social media changed content consumption 9:31 - 12:00 Saying things you don't believe in for views 12:00 - 14:39 The reason big companies still spend money on TV advertising 14:39 - 16:51 Why does Gary want to buy the New York Jets? 16:51 - 18:04 The pillars of popular culture 18:04 - 20:00 Favorite Super Bowl Ads 20:00 - 22:05 Choosing positivity — Thanks for watching! Join My Discord!: http://www.garyvee.com/discord Check out another series on my channel: Gary Vaynerchuk Keynote Speeches: http://www.garyvee.com/keynotespeeches Gary Vaynerchuk's thoughts on NFTs, Web3, cryptocurrencies and more: http://www.garyvee.com/web3nfts Life, Business, and Career Advice l Gary Vaynerchuk Original Films: http://www.garyvee.com/gvoriginals How to Make Money at Garage Sales l TrashTalk: http://www.garyvee.com/trashtalks Inside the Life of a $300M+ Company's CEO l DailyVee: http://www.garyvee.com/dailyvees — Gary Vaynerchuk is a serial entrepreneur and serves as the Chairman of VaynerX, the CEO of VaynerMedia, and the Creator & CEO of VeeFriends. Gary is considered one of the leading global minds on what’s next in culture, relevance, and the internet. Known as “GaryVee,” he is described as one of the most forward thinkers in business – he acutely recognizes trends and patterns early to help others understand how these shifts impact markets and consumer behavior. Whether it’s emerging artists, esports, NFT investing, or digital communications, Gary understands how to bring brand relevance to the forefront. He is a prolific angel investor with early investments in companies such as Facebook, Twitter, Tumblr, Venmo, Snapchat, Coinbase and Uber. Gary is an entrepreneur at heart – he builds businesses. Today, he helps Fortune 1000 brands leverage consumer attention through his full-service advertising agency, VaynerMedia, which has ofﬁces in New York, Los Angeles, London, Mexico City, and Singapore. VaynerMedia is part of the VaynerX holding company, including Eva Nosidam Productions, Vayner3, Gallery Media Group, The Sasha Group, VaynerSpeakers, and VaynerCommerce. Gary is also the Co-Founder of VaynerSports, Resy, and Empathy Wines. Gary guided both Resy and Empathy to successful exits – which were sold respectively to American Express and Constellation Brands. He’s also a Board Member at Candy Digital, Co-Founder of VCR Group, Co-Founder of ArtOfficial, Co-Founder of VaynerWATT, and Creator & CEO of VeeFriends. In addition, Gary was recently named to the Fortune list of the Top 50 Influential people in the NFT industry. In addition to running multiple businesses, Gary documents his life daily as a CEO through his social media channels, which have more than 44 million followers and garnish over 173 million monthly impressions/views across all platforms. His podcast, “The GaryVee Audio Experience,” ranks among the top podcasts globally. He is a five-time New York Times Bestselling Author and one of the most highly sought-after public speakers. Gary serves on the board of MikMak, Bojangles Restaurants, and Pencils of Promise. He is also a longtime Well Member of Charity:Water.

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1:02 Intro

why do you believe people follow Gary ve because I was talking about and I wasn't talking snoody about it why the hell do you want to own a New York J because I want may I ask how much you're worth sir if I liquidated everything Millions attention is the number one asset ladies and gentlemen uh welcome back to the Stephen A Smith show right here over the digital Airwaves of YouTube listen when I'm out whether it's on electri circuit or any place else I got this famous saying I'm brilliant because I know I'm not I simply learn from those who are and I take notes and I do it from there and that's a perfect segue into talking to my next guest because this is a man described as one of the most forward thinkers in the world of business he's a Serial entrepreneur a strategist and is considered one of the leading Global Minds on what's next in culture relevance and dare I say even the internet the one and only Gary ve as in Gary vaynerchuk my man what's up my man

1:56 Hard work and serendipity

it's good to see you it's such a pleasure how you doing too good when you hear yourself described in that fashion tell me what comes across your mind similar to your opening line deep humility I'm detached from it a little bit I'm detached a little bit from it I get that I've worked really hard and I've earned and I gotten to a place where I can get some roses and some flowers cuz I put some points on the board mhm but you know I think a lot about like serendipity why was I born with intuition that led to me being right about a lot of things you know why was I fortunate to be born in the Soviet Union come to Queens New York with nothing and have a have the foundation of adversity leads to success that was I would I didn't pick when I was born so there's a lot of serendipity that went into it a lot of hard work okay I'm not you know I don't think you just get there on vision boards you got to do it when you say

4:10 Being grateful for what you have and working for more

points on the board yeah highlight and illumin for folks what that means to you what do you qualify or quantify as points on a board in your mind well in my mind points on the board is like what people talk about me behind my back that actually know me that's the actual answer okay in the way that I used it there why do people look at me in a business world I did invest in Facebook before people knew Uber before people knew my brother took the first Uber in New York I was early in this game I did build my dad's local liquor store to an internet company in 1996 seven when people weren't even thinking that way Grew From 3 million a year to 60 million a year in four years is that accurate in seven I did start vinor media in an office of another company because I had so little money and the last 14 years it is a $350 million a year business you know so I've amassed my following I've done work um I am a five-time New York selling best author I am a very prolific public speaker that gets comped properly so I put in the work but when I hear that you know it's nice but I always want to not get high on my own Supply I'm still in the game I'm trying to buy the New York Jets okay I'm far away from that right so what I'm really doing when I hear that is nice thank you grateful to my mom and dad really God all that stuff but still in Pocket still focused putting nice wins on the board for my ownself like this m you know I I'm honored to be on this show I appreciate I'm a fan thank you so much but then you know knowing that I want so much more so and being grateful if the god of Life dropped down now it's like this is it you Capp in here you're gonna flat out actually decline I'm like okay like that's disappointing right but I'm grateful for what I have but I'm hungry for more you've already made me a bigger even bigger fan of yours than I already was because you talked about never getting high on your own Supply so you love biggie I appreciate that big you love the notorious b way to go with that go somebody just asked me what my literally an interview I just did they're like what would you be your ideal halftime show I said Bone Thugs and Harmony and a hologram of Biggy w wow that's the halftime show I want B and Biggie is forever I see you and

5:22 Why do people follow GaryVee?

people talk about the inordinate number of followers I think it's like 45 million followers at the very least on on social media why do you believe people follow Gary ve what are they looking for from you at this particular juncture in your life in terms of your interpretation I think it's been EB and flow you know my early base was because I was talking about wine and a lot of people were interested in it and I wasn't talking snoody about it so that was my early based when I really popped off in 2006 789 the economy was bad and I was talking like yo you can make money on YouTube and Twitter and people were confused by that and so early on it was for someone that was shown the way I think now it runs a lot of gamut I have a lot of people that follow me because I talk about modern parenting I think parenting is in a weird place in the world yes it is you know I think a lot of people follow me for what's next cuz I've got that track record you know it's funny I think as a public figure I'm very good at finding purple I like that you wear purple a lot by the way um I like purple I think America's gotten two red and two blue I agree with that and I think purple is the magic and so I think today if I analyze why there's traction I'm in love with purple and I think people appreciate that because I think we're a little tired of the extremes I'm looking at right now just looking at

7:20 The current state of advertising

some of your current compan is V Vayner media CEO Global advertising agency that creates a lot of content for tweets Facebook posts Instagram others r x you're the chairman combination of several media companies of course B Sports all right full service Talent representation and brand Consulting we might need to talk okay say empathy wines of course direct to Consumer Winery and that caught my eye because of the world that we're living in moving from linear to digital in television in my world which obviously everything is your world with what you're connected to right now so as we sit here today in your a Visionary how are you feeling about where we are as a nation as a world from an advertising perspective from a global reach perspective in terms of being an influencer how are you feeling about this right now very happy why because I'm going to be historically correct okay but what if you're historically correct about something very bad that you predicted what about that well I'm not predicting anything bad okay in the context you asked the question I'm the person in advertising right now that's saying 90% of the money that big brands are spending is going in the garbage okay I'm the one that's saying a $7 million Super Bowl ad is a bargain because 165 million people will actually watch your commercial but during even the biggest sport the AFC and NFC Championship game nobody was sitting around excited to watch the commercials in between the game I'm the one that's saying Tik Tock this or streaming that so what I'm trying to do is day trade attention that's what I do for a living where're and by the way it's why I've watched your career for so long I mean we're going way back I'm like oh this kid's got something you know oh this influencer there's a reason Logan Paul or Charlie demilly or all these things that happened in my career I'm watching underpriced culture underpriced distribution underpriced executors and so in the way that you asked in the media landscape I'm excited because things are about to change heavy okay I

9:31 How social media changed content consumption

was getting ready to ask you about that because I'm thinking about the merger that ESPN Fox the joint venture I should say not a merger that ESPN Fox along with uh you Discovery uh you know Warner Brothers Discovery got into I'm looking at stuff like that I'm looking at what their Collective worth is compared to Amazon which is in the trillions Apple the rest of those folks are in the billions I'm wondering how you're feeling about stuff like that when you see it as a Visionary what's very clear is that and this is something I've been talking about for about seven or eight years apple and Amazon were not coming to fool around these traditional media companies including my favorites ESPN's all that you know there's always a bigger fish and the reality is the internet is the big dog and so what happened was there was all these people that held on to the radio when we finally had television in the 50s and 60s I was a really poor student Stephen A but the one class I was good at was history and I never understood until I got to my mid-30s I'm like damn that's because I believe in pattern recognition and history repeating itself and so what's happening is what do I think the world's going to change quite a bit Apple has the MLS Amazon's GNA own this football thing it's G to play out and the NBA and you know this because you're very close to it they're not fooling around with this next deal and there's a lot going on and Ryan Smith with the Utah Jazz is doing different stuff and Matt ish is with the Suns like things are changing and the way people are going to consume content and how they consume and where you know this a kid that's Got Talent 15-year-old you 19y old you 23 year old you he now has Tik Tok and YouTube he can build his audience he didn't need people to put him on right people had to pick you along the way people had to subjectively say you're a talent and a lot you know this you came up with a lot of guys and gals some of them just didn't have the political luck of the draw they didn't get picked but there is no Pickers anymore everyone goes direct to Consumer now social media is not a ha haa joke it is the foundation of everything but is

12:00 Saying things you don't believe in for views

it just about numbers or it is about substance I'm talking to Gary ve and every word every syllable that comes out of your mouth is about substance and then I earn numbers all right and then you earn numbers now numbers are important numbers are matter I pay attention to them every day make no mistake about it but I also see people that are getting an exorbitant amount of numbers and they're getting it in a fashion Distributing and disseminating content that I might not necessarily Vibe with do I go for the numbers and throw that aside and throw everything else aside because I want those numbers or do I attach myself the substance thinking that that's the long game that ultimately reap the fruits of my labor what's the mentality that somebody in with that dilemma what's the mentality they should grab I believe especially watching you from afar it's an easy question I understand even why you're asking me this question it just depends on how you read the tortoise first the hair you know to your point I tell people all the time you need to be out there but if you're saying things you don't believe that's right it's not going to play out never end it's a very simple game the it all so in my content one of the things that annoys all these kids that gave me daps on the way to walk in here the one thing they'll tell you if you really talk to them the thing that annoys them is that I push patience so heavy and they hate it you know this the kids they want everything now when we grew up we were like maybe at 40 some things would click in they want everything now and but I don't blame them worlds fast I get it right but you can't do five push-ups and look like a G right you got to put in the work mhm and so you know from my standpoint what would I say if you want a couple of years of enjoyment and some fake Fame and accolades then attach yourself to anything and not be about real life if you want legendary status if you want it forever and most of all if you want to be able to put your head on your pillow at night you better spit things you actually believe listen in your business I see these people all the time come and go and you know they're in trouble because you know they don't believe what they're saying on you know it yeah I can't I have no patience with a phoniness and so for me too like I can't do you know in advertising how disliked I am I'm sitting there and poking sacred cows I'm saying every television commercial is a waste of money besides Super Bowl I'm sure you can imagine that a lot of people in that 80 billion doll industry per year in America they have feelings about hurt their feelings that's right absolutely and so but I'm too scared to be wrong right how can you say things you don't believe but if 80 billion let's just say

14:39 The reason big companies still spend money on TV advertising

for example 80 90% of it is wasted time wasted advertising right and we all understand that these are the kind of things that fuel the system I mean you could look at the criminal justices for examp don't even get me started with that you know police officers the lawyers the judges the prison system except the system itself we know all of this so anywhere you look anywhere you go there's always something systemic that has some level of influence right so when you say what you say Do you ever find yourself looking at society and saying to yourself there's an abundance of people out there that are not equipped to handle the change that ultimately has come forward and how has a societ going to adjust to that especially when in this scenario it's predicated on their own greed big companies go out of business because they care about the short term Founders tend not to go out of business Mr old school Toyota isn't going to be the reason Toyota failed it's some executive that got paid and just wants to make their money on the stock price and so they'll milk it because they know they're retiring next year whoever gets left with the bag W that's right so in this scenario the reason people keep spending money on television commercials is because the four media companies that buy those commercials are publicly traded and they make money on buying TV upfronts and they don't care so I get that but the reality is it doesn't mean that these consumers are acting that way and that's why there's always opportunities for kids and people in the up because big companies Play Short humans the right ones play long as we sit here right now so many people in the business has looked at the transition from linear to digital yes not just in television but in anything everything and their mentality is that most people haven't learned how to monetize yes digital do you agree that has been the case no I think big companies don't want to give up the big bags that theyve figured out in traditional right there's plenty of people that have monetized digital as a matter of fact there's way more humans that have figured out monetizing digital but I'm saying those big companies that were making money in traditional you can make money in digital why aren't you prioritizing really mastering how to make money in in digital the way you did in Tradition because at that level those are nickels and pennies and dimes to the dollars they made in these big upfront monster deals and so they're secondary plus you know this because you pay attention the big dogs in these companies they're not about that life and so they make decisions based on themselves right it's the naive of the game they just don't see it so your Brilliance is obvious and it's well

16:51 Why does Gary want to buy the New York Jets?

recorded and well documented riddle me this why the hell do you want to own the New York J what is that about why does why would a winner such as yourself associate yourself and your fandom Your Love your emotions and everything else in between with the New York Jets who by the way I haven't won a Super Bowl since 196 now haven't been a January 12th 1969 68 season January 12th 1969 Best Day Ever I was negative 6 that's right negative 6 go ahead because I want to be driving the car the most guaranteed way that I know I'm going to get a Super Bowl is for me to do it okay and they say that you say you're not worth enough not to purchase just the New York jetz may I ask how much you worth sir I mean if I liquidated everything and somebody thought that I would stay with the companies that I sold it to I could get into some real numbers hundreds of millions okay I mean hundreds of millions is very vague sir I like specifics I mean can I get I'm trying to be a little bit more private with my life these days okay no problem but at least I asked atast I look the Jets are growing I'm building too the problem is that these NFL teams are building fast too so look I think I need a good 10 15 years of real execution to put me in Pocket to make a play MH but here's the thing and again looking from afar we don't know each other like that yet but hope we do over the next decades absolutely when you're ambitious you're kind of just you know in you know this is probably why you associate with athletes too this is my assumption from afar you know when you're in your Zone yeah I'm in my zone yeah like I know I'm trying to get there I also know there's a lot of serendipity that goes into it I'm not in full control the Johnson's may want to sell next year and it's over I would have never thought if let's say my goal was to buy the Mavericks okay I would have been cooling because I'm like Mark's young Cuban's not selling this for another two decades I'm good boom it transacts so I need a lot of things that I don't control to happen to go my way I'm just focused on building an empire to give me a shot Sports yes that's the

18:04 The pillars of popular culture

Jets but in your line of work Sports and culture are equally important it matters to you that's your future your audience what you're doing or whatever how do you think they intertwin in this day and age how comfortable are you with it oh I think Sports is one of the 4i pillars of popular culture like sports and music fashion and food have had a good decade or two fashion Foods sports music and what else you know five one of the Five Pillars I got one that's really emerging it's not there yet okay I'm going to make a prediction because I want to look at this in 15 years and be like okay something crazy is going on with collecting and I grew up with it Sports cards all that but then all of a sudden man if I knew all those sneakers were going to be worth this kind of money when I was coming up and then Contemporary Art and just this even if you look at the Taylor Swift effect in this Super Bowl here's a fun fact that a lot of people aren't paying attention to that I am I'm watching little girls post Travis Kelce rookie cards on Tik Tok yes so collecting is starting and I think in 20 years when you go out to dinner you'll just ask everybody the same way what are you listening to about that new Kendrick Lamar what do you oh rashed Johnson when you're talking like collecting I think people are just going to talk they're collecting something got it two more questions before I'll let

20:00 Favorite Super Bowl Ads

you get on out of here which clients of yours are running ads this year at the Super Bowl um we've got one uh star okay and we're really excited about it it's proper it's a good one best Super Bowl commercial you've seen in the last five years let me give you my favorite one of all time and then last five years favorite one's very personal Cindy Crawford Diet Pepsi in her Daisy Dukes that was the day that I went from being a boy to a man so that will always be number one for me I was like what are these feeling I was like watching football Redskins Broncos just chilling being a boy I was like why am I feeling different things so that was a quintessential moment of my Coming of Age last five years you know coinbase two or three years ago did that bouncing QR code okay I think Super Bowl isn't selling enough or being transactional enough they want to put celebrities in they want to make us laugh if I keep telling my clients and I and they're still not there yet but I think in Super Bowl spots you should be getting people to download your app them to buy stuff I still think this is super 58 right yeah if I'm a company that sells a $150 item a sneaker a technology piece I'm saying my superow commercial is like for the rest of this game until the game ends triple zero on the scoreboard this $150 item is $58 I don't think we're collecting first-party data if you're paying 7 mil and then you got to make something for some money get that data because first- party data that's the game gotcha back to director consumer I know we're wrapping up yeah when you are fully directed consumer because you will be because it's an inevitable chess game something like that you're going to want that first- party data it's nice to have 10 million followers on Instagram it's a lot better if you had 10 million phone numbers and emails I'm with you last question real quick I need a one

22:05 Choosing positivity

minute answer on this you leave here today because this will not be the last time you and I talking I can promise you that what message do you want my viewers and listeners to get from this conversation that we just sparked with one another as we look forward in life you find what you're looking for if you want negativity you can find negativity on the news and social media all day let me throw you the curveball Curtis Martin my guy perfect guy to walk by but if you are looking for positivity it's all out there and so your viewers and I know your audience because I'm part of it and I watch how we all chop up of the things you say and things you get into you need to start looking for positivity because you actually can there's systematic things that are broken maybe your mom or dad was this there was adversity everywhere but you are actually capable in this internet world to do things you just have to choose to that gives you know what that gives us all hope for the future because if people choose to be positive then the world will be a better place and we'll all be in a better position that's basically what you're saying and I'll really go one last Notch cuz I know we're out when you were met with positivity you do not have to act that way in return and I'm not even saying Michelle Obama go higher I'm saying feel bad for people that come with heat yeah for somebody walk around and spend their time to tell you suck yeah do you know how suck of a life that is yeah that so be happy you're not the one doing it my man no pleasure one and only Gary ve right here with Stephen A right here on the Stephen A Smith show over the digital Airways of YouTube lessons pearls dropped on everybody this will not be the last time I have a conversation with this man on this show I can promise you that because I love to entertain but I also love to educate and I just received an education I really appreciate it for Gary ve this is Stephen a signing off until next time everybody peace and love

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