Facts on Marketing in 2023 | CNBC Super Bowl 2023

for a 30 second spot in Sunday's Super Bowl that's up from 5. 6 million in 2021 and six and a half million last year but our next guest says seven million dollars is actually underpriced joining us now from Arizona vaynermedia CEO Gary vaynerchuk uh and he has well vaynermedia has three spots coming in this year's big game Gary uh great to have you on uh initially just tell me why seven million dollars is a bargain for uh for an Advertiser this year I mean it all comes down to attention right like the reality is his attention is the number one asset and not potential attention and you have the entire country actually focused on watching Super Bowl ads which is unlike any other television commercial that runs in any shape or any form obviously the commercial has to be good to make the thing happen but the attention is underpriced compared to the cost per attention in every other environment that we see in Digital television or traditional advertising is this just because I mean if a hundred million people in the U. S watch it that's some of the estimates this year if that's the case that yeah it's always been the most widely watched event of the year but compared to the single audience of any other program show any place you can find people assembled it's that much bigger on a relative basis does that actually translate directly into return on investment no it doesn't it's that Americans actually want to watch the commercials nobody wants on the Grammys Oscars nobody wants to watch the commercials in the AFC and NFC Championship game or the NBA finals this is the only time people in America actually want to watch a commercial thus rendering it the best deal while all the other commercials on television are grossly overpriced how do you if you're talking to your clients you have as I said some ads uh in this Super Bowl coming up Pepsi Zero sugar for example how are they going to determine whether they got a good return on their investment sales you know amortized over time it's not like the next day but you look at sales in a window and you look at what you're able to do with the leverage of the awareness like right now you're playing you know a Mr Peanut uh piece of content that you have plenty of people that watch the show I got previewed I got like 30 texts right now you have a real audience here and they're watching Mr Peanut now and subconsciously that may lead to them choosing a Planter's product versus another product in the next week or day or months but ultimately this is about business this isn't about making people laugh or being too silly like it's great to have Steve Martin in this but we want people to really focus on considering to try Pepsi Zero and so this is about business yeah it's interesting in the sense that the more the broader digital advertising environment has to a large degree been about targeting and you know point of sale type things and trying to be very actionable um and narrow casting in a way and so this is kind of the opposite what are you seeing in terms of your clients right now if let's say you're being a little more careful about overall ad spending what are they prioritizing in those other platforms well it's interesting you just talked about the difference between branding and sales and to your point digital has been very focused on conversion The Meta Facebook world really mattered and worked right now what everyone's focused on is building brand in social people are starting to realize that your brand is built in Social much more than in regular TV commercials non-super bowl or in Billboards or in print that social brand not selling people but putting out content that makes them interested in the product or consider the product is exploding and so it will continue to gain market share because social media is where a shocking amount of human attention is being allocated to but what we finally are starting to see is The Branding elements enter the social sphere much more than just trying to make it a sales conversion Channel which platforms are best suited for that uh in your view I mean Tick Tock obviously now maybe the greatest number of minutes spent but Instagram traditionally is seen as being friendly to that type of thing too it's a great call out I would say it's where your strategic creative lands meaning Believe It or Not LinkedIn for some consumer products is over performing Twitter or Instagram for certain brands because they understand how to make the videos or pictures or written words that hit that audience better it is a massive Battleground for the advertising agencies like vaynermedia and the Fortune 500 Brands to outflank their competitors in Creative strategy we call it sock strategic organic content are you posting to just say happy Friday or are you actually putting out content to build brand and so any of the platforms you just listed on the screen can dominate for Brands is the punch line

are you good at Twitter Instagram are you good at Tick Tock and certain humans are better at certain platforms but the biggest brands in the world over the next decade will be built on the people that can execute best on all of the platforms so they're hitting as many customers as possible cheers thank you for having me take care awesome it was a really good hit yeah it was great