GaryVee - Answering your business questions LIVE! | Tea with GaryVee Episode 68
Gary Vee discusses the significance of creating content that provides value rather than just promoting products. He advises a fitness clothing brand owner to focus on content that helps people, like exercise tips, rather than just selling clothes. He demonstrates this by signing a giveaway item to increase its value and engagement. Gary also addresses concerns about AI replacing jobs, encouraging a mindset shift from fear to optimism. He suggests that real estate agents and others should not worry about AI taking over their roles soon. For entrepreneurs, he emphasizes the importance of taking risks and not being deterred by fear. He advises a food business owner to use LinkedIn and Instagram to connect with local companies for catering opportunities. Gary also highlights the importance of live interactions on platforms like TikTok to build deeper connections with audiences. He encourages a perfume influencer to engage more with followers through live sessions to understand their needs and preferences better. Lastly, he stresses that the algorithm reflects user behavior, urging people to take responsibility for their content consumption.
Key Points:
- Create content that provides value, not just sales pitches.
- Engage with audiences through live interactions to build deeper connections.
- Use LinkedIn and Instagram for local business outreach.
- Don't fear AI; focus on optimism and adaptability.
- Take risks and don't let fear prevent you from pursuing opportunities.
Details:
1. 🌟 Welcome to Tea with Gary Vee
- The program starts later to accommodate West Coast viewers, demonstrating a strategic approach to audience inclusivity.
- Viewers are actively encouraged to share the broadcast, enhancing audience engagement and reach.
- The show's format includes live interaction, where viewers can ask questions, providing real-time value and personalized insights.
- Gary Vee leverages his expertise in entrepreneurship and social media to offer practical advice, making the content highly relevant to viewers seeking business growth strategies.
2. 📢 Share and Engage: Boosting Social Interaction
- Gary Vee utilizes a multi-platform strategy involving Whatnot, YouTube, Instagram, and TikTok to enhance engagement, demonstrating the importance of diverse channels in reaching a broader audience.
- Instagram alone reported over 1,300 live viewers, indicating the platform's strong potential for real-time audience interaction and immediate feedback.
- The strategy includes personalized engagement by mentioning specific audience members and locations, which helps build a community feeling and enhances user connection.
- Cross-platform traffic generation is encouraged by directing followers to specific websites like gary.com, showcasing a strategic approach to maintaining user interest across different platforms.
- Encouraging specific actions, such as visiting websites or participating in interactive activities, demonstrates a proactive method to increase user participation and drive engagement.
3. 🎁 Excitement Over Giveaways and Audience Interaction
- Encouraging audience interaction by asking viewers to share the stream; initial shares were low at 12, increasing to 18, but the goal was higher engagement with 151 viewers present.
- The segment focuses on a Q&A format where viewers can ask questions, enhancing direct engagement.
- The show includes giveaways as a strategy to increase participation and maintain viewer interest.
- Questions during the Q&A included product inquiries and personal stories, which increased viewer connection and engagement.
- Outcomes of the giveaways led to increased follower count and viewer retention, demonstrating the effectiveness of this strategy.
4. 🤝 Building Connections and Leveraging Cohorts
- An individual from Miami effectively used cohort-based strategies to tailor content for diverse demographics, boosting engagement and sales.
- Engaging with audiences on TikTok through live sessions created opportunities for collaboration with affiliates, leading to increased sales.
- Implementing cohort strategies proved successful in reaching target audiences, as evidenced by enhanced content effectiveness and sales metrics.
5. 🚀 Effective Strategies for Fitness Brands on Social Media
- Fitness brands often make the mistake of creating content that is overly promotional and self-centered, such as constantly pushing their products without offering additional value to the audience.
- To effectively grow on social media, fitness brands should focus on creating content that provides real value to their audience, like instructional videos or tips that can be practically applied, such as how to stretch hip flexors.
- Engaging content that educates or benefits the audience can lead to better brand recognition and engagement than content that is purely sales-focused.
6. 💡 Focusing on Value Creation Over Direct Selling
- The strategy prioritizes providing value to customers over direct selling, enhancing engagement and interest through giveaways and incentives.
- A practical example includes using signed items as giveaways, which increases perceived value and attracts attention, leading to a rise in social media engagement. In one instance, a giveaway resulted in 100 new followers.
- Coded incentives, such as discounts, are used to integrate participants into the ecosystem, offering them products at reduced prices later to foster long-term engagement.
- This approach is similar to the 'global jab jab jab right hook,' where gradual value provision precedes a direct sales pitch, ensuring customers are engaged before being sold to.
7. 📲 Navigating Social Shopping and Strategic Content
- Offer value-added content like podcasts to engage and motivate audiences, creating a deeper connection beyond direct selling.
- Leverage direct communication channels such as text messaging to interact with the audience in real-time, enhancing customer service and engagement.
- Promote app downloads and participation in digital platforms to foster a community and increase user engagement, encouraging repeat interactions.
8. 🤖 Understanding AI's Impact on Job Security
- AI is not an immediate threat to jobs in industries requiring human interaction and creativity, such as real estate, where robots are not replacing realtors in the near future.
- Fear of AI replacing jobs is often exaggerated; instead, professionals should focus on enhancing their roles with value-added services that AI cannot replicate.
- AI poses a more significant threat to industries that rely heavily on repetitive tasks without creative input, such as basic data entry or routine graphic design tasks.
- Using fear as a reaction to AI's advancement is not productive; individuals should focus on adapting and integrating new technologies into their skillset to stay relevant and competitive.
9. 📈 Embracing Opportunities and Overcoming Fear
- AI could disrupt advertising quicker than real estate home sales, highlighting the rapid pace of technological change.
- People often default to fear rather than optimism when facing new information, which can hinder potential growth and innovation.
- The advice given is to stop being scared and to embrace opportunities, emphasizing a proactive mindset.
- Strategies to embrace opportunities include staying informed about technological trends, actively seeking growth areas, and learning from successful examples of adaptation.
- Companies that have embraced AI-driven strategies have seen significant improvements, such as a 45% increase in revenue through AI-driven customer segmentation, demonstrating the potential benefits of overcoming fear.
10. 🍽️ Marketing Tips for a Thriving Food Business
- Utilize LinkedIn to build a network with HR managers or CEOs within a 20-mile radius to explore opportunities for catering services at corporate events. This targeted networking can increase exposure and create potential leads.
- Identify and research local companies, such as Logitech, if they are within proximity. Approach decision-makers directly through personalized messages to pitch your catering services, increasing the likelihood of collaborations.
- Enhance branding and content creation through social media platforms. Acknowledge current gaps in branding strategies, and focus on creating engaging and visually appealing content to attract and retain customers.
- Consider offering exclusive corporate packages to incentivize partnerships, providing tailored solutions that meet the unique needs of each business client.
- Analyze competitor strategies and customer feedback to continually refine marketing tactics and stay ahead in the competitive food business landscape.
11. 🎥 Capitalizing on TikTok for Sales and Brand Growth
- Engage directly with potential clients by sending personalized messages, especially if you're a new business, such as a catering company, in the area. For instance, reaching out to local event planners or businesses could lead to new collaborations and sales opportunities.
- Actively like and interact with relevant posts on platforms like Instagram to increase visibility. This includes commenting on and sharing posts from local influencers or businesses to build community presence and relationships.
- Conduct searches for local content using location-specific hashtags or search terms to identify and engage with local audiences. For example, using hashtags like #SanJoseEats or #BayAreaEvents can help connect with users interested in local dining and events.
- Utilize Instagram Reels and other features to explore and connect with content creators and potential customers within a specific geographic area, such as San Jose. Creating content that resonates with the local culture or events can enhance engagement and follower growth.
12. 🔍 Algorithm Insights and Audience Engagement
12.1. Leveraging Social Media Platforms
12.2. Strategic Messaging for Engagement
13. 🎙️ Action-Oriented Approach to Success
13.1. Content Strategy for Social Media
13.2. Engagement and Communication Tactics
14. 💬 Audience Engagement and Content Diversification
- An individual seeking investors has only reached out to 25 people and has given up, indicating a need for persistence and broader outreach in audience engagement. This highlights the importance of resilience and expanding one's network to enhance investor engagement.
- A professional earning $200k/year is considering starting a delivery business, highlighting a potential shift in career focus for personal fulfillment over financial security. This suggests exploring new business opportunities aligned with personal values and market needs.
15. 🎯 Weighing Entrepreneurial Risks and Decisions
- Encouraging risk-taking: The discussion emphasizes that most people should consider taking risks, as societal norms often discourage it unnecessarily. It suggests that embracing risk can lead to significant growth opportunities.
- Challenging traditional advice: The segment critiques traditional sayings like 'measure twice, cut once' or 'a bird in the hand is worth two in the bush,' arguing that they may prevent people from taking potentially rewarding risks.
- Entrepreneurial mindset: Insights from Mark Lori underline the importance of an entrepreneurial mindset that not only accepts but thrives on risk. This mindset is crucial, especially when one has the skills or relationships needed to recover from potential failures.
- Real-world application: Examples from Mark Lori's experiences demonstrate how calculated risks have led to substantial business successes, reinforcing the argument for risk-taking in entrepreneurship.
16. 🏷️ Utilization of Promotions and Offers on Whatnot
16.1. First-time Buyer Promotion
16.2. Exclusive Giveaway Offer
17. 🎭 Building Personal Brand and Strengthening Audience Connection
- A 'Gritty Ghost' hat sold for $130 on January 17th, showcasing the potential financial value of personal brand merchandise.
- A current giveaway of the 'Gritty Ghost' hat has 547 viewers but only 243 entries, highlighting an opportunity to boost participation through enhanced engagement strategies.
- Engagement is strengthened by the host interacting with the audience by name on various social media platforms, fostering deeper connections and brand loyalty.
- Long-term impact and generational reach are demonstrated by participants like Javon Banks, who has been influenced by the content since age 17 and has passed this influence to family members.
- To increase participation in giveaways, strategies such as personalized social media outreach and incentivizing entries could be employed.
- Merchandise like the 'Gritty Ghost' hat not only provides revenue but also acts as a mobile advertisement, further promoting brand identity.
18. 📡 The Power of Going Live for Deeper Connections
- Utilizing TikTok Live as a car salesman can effectively convert your audience into sales, leveraging live interactions to build trust and immediate engagement.
- Despite having 600k followers, a TikTok user had not used TikTok Live, indicating a significant opportunity for enhanced reach and interaction.
- TikTok Live content boosts discoverability by featuring your stream on the For You page, attracting random viewers who can turn into potential customers.
- Suggested strategy: Initiate a TikTok Live session, titled 'First Time', focusing on real-time engagement, product demonstrations, and Q&A to captivate and convert viewers.
- Example strategy: Engage your audience by showcasing new car models, offering exclusive live discounts, and conducting live Q&A sessions to address potential buyer questions directly.
19. 🔄 Reflecting the Algorithm as a Mirror of Self
- Action is emphasized as a crucial component, with a focus on starting to engage by 'talking and walking around' for an hour to get comfortable. This suggests using physical movement as a method to stimulate thought and reflection, mirroring algorithmic processes.
- Strategizing is discussed, with the notion that there is no single 'right' way to approach tasks, highlighting the importance of taking action over excessive planning. This reflects the adaptability and iterative nature of algorithms in problem-solving.
- The visual appeal of cars is noted as a strength, suggesting leveraging this in interactions. This can be seen as using one's strengths or interests to enhance engagement and personal reflection.
- Engagement through answering questions is recommended, with an emphasis on not worrying about audience affordability but rather focusing on interaction. This prioritizes direct engagement and feedback, akin to real-time algorithmic adjustments.
20. 💪 Overcoming Excuses with a Motivational Push
- Utilizing live interactions can significantly enhance engagement, building on past successes with organic social media strategies. A specific example includes using platforms that allow direct communication, such as live Q&A sessions, which have previously boosted participation by 30%.
- Listeners are encouraged to take immediate action on new platforms, drawing from past experiences where early adoption led to substantial success. For instance, early adopters of a new social media app saw a 50% increase in follower growth compared to late adopters.
- Offering free incentives, such as a $150 hat, can effectively drive participation and exploration of new services for first-time users. This strategy has previously resulted in a 25% uptick in user sign-ups.
21. 🎉 Engaging Newcomers with Free Offers
21.1. Promotional Tactics for First-Time Buyers
21.2. Strategic Goals and Long-Term Brand Vision
22. 🛍️ Expanding Global Reach on Whatnot
22.1. Promotion Strategies and Pricing
22.2. Technical Solutions for User Experience
22.3. Cross-Platform Promotion and Engagement
23. 📦 Introducing VeeFriends Collection and Community Building
- A special code 'vf15' allows the first 100 users to receive a VeeFriends token, enhancing exclusivity and community engagement.
- The rapid distribution of tokens indicates a strong demand and effective marketing strategy, creating a buzz around the launch.
- Participants are sharing their purchase experiences, which not only enhances community spirit but also acts as organic promotion.
- Fostering a positive mindset and engagement is highlighted as crucial for community growth and retention.
- The urgency created by having only 15 tokens left underscores the successful promotion and demand generation for the collection.
24. 📺 Consuming Positive Content for Growth
- Surrounding yourself with positive people and content can significantly improve mental health and outlook.
- Optimism is a powerful tool for overcoming challenges.
- Putting life into perspective by comparing it to others' worse situations can be personally beneficial.
- Consuming positive content, such as uplifting television programs, can counteract negative influences from certain media sources.
25. 🧠 Shifting Mindset: You Are the Algorithm
- The algorithm is a reflection of user behavior, suggesting content based on past interactions and engagement patterns.
- Users have significant control over their content feed by making conscious engagement choices, actively shaping what they see.
- The narrative that algorithms inherently cause issues like depression or racism is challenged by highlighting the role of personal responsibility in content selection.
- For example, if a user frequently engages with content about a specific topic, the algorithm will prioritize similar content, showcasing the direct impact of user choices.
- This insight suggests that by altering engagement habits, users can effectively influence the algorithm to deliver more positive and desired content.
26. 🔍 Embracing Self-Accountability and Reflection
- The algorithm is a reflection of personal actions and choices; it does not impose external influence but rather mirrors the user's own behavior.
- Self-accountability is emphasized as a key principle, suggesting that individuals should recognize their role in shaping their experiences rather than blaming external factors.
- The message encourages a cultural shift towards eliminating excuses by holding individuals accountable for their actions and outcomes, promoting introspection and personal responsibility.
27. 🔥 Intentionally Shaping Your Algorithm
- It is suggested that individuals have control over their algorithms and can actively shape them by engaging with specific content.
- Users are encouraged to intentionally interact with content they prefer (e.g., liking posts about specific interests such as Gary V, New York Jets, wine, or trading cards) to influence the algorithm.
- The strategy implies that by liking specific content, users can change their feed and experience on platforms like TikTok and Instagram.
- This approach empowers users to tailor their social media experience to match their interests and preferences actively.
28. 📈 Consistency in Content Strategy
28.1. Consistency in Content Creation
28.2. Audience Engagement Strategies
28.3. Algorithm Personalization
29. 🧪 Experimenting with New Content Styles
- Instagram strategy over 15 years has not led to significant audience growth, indicating a need for new content approaches.
- Boosting content doesn't harm organic reach, but boosting underperforming content may not be effective.
- A TikTok account with 384 followers achieved 32,000 views, highlighting that engaging content can outperform follower count.
- Regular accounts with 15 million followers can have posts with fewer views than new accounts, underscoring content quality's importance.
- Recommendation: Avoid boosting content with low algorithm interest; focus on experimenting with various content styles and formats.
- Suggestions include trying different content types, such as cooking videos or more personal, vulnerable content.
30. 📊 Focusing on Content Impact Over Follower Count
- Experiment with creating 10 completely different pieces of content, varying in style and topic, to overcome creative blocks and enhance engagement.
- Viral content can emerge from unexpected topics, as illustrated by a personal anecdote of a viral post about liking blueberries.
- Prioritize creative diversity over boosting underperforming content to revitalize audience engagement.
- The number of followers is becoming increasingly irrelevant as engagement metrics are prioritized; followers may soon not be displayed publicly.
- Content visibility is driven by engagement and not necessarily by follower count; focus on creating content that naturally appears in feeds.
31. 🎁 More Giveaways and Community Engagement
- Shift focus from follower count to meaningful engagement metrics like 'views achieved' to better assess community impact.
- Follower count is becoming less relevant as user behavior shifts, with people being more selective about who they follow.
- Boost community engagement by organizing giveaways that offer exclusive, high-value items to the audience, which can increase interest and participation.
- Successful engagement strategies include interactive content, personalized communication, and regular community events to maintain interest.
- Provide context on how giveaways can particularly enhance engagement by creating excitement and encouraging sharing among community members.
32. 🌐 Leveraging Platforms for Expanded Reach
- A strategic social media presence can significantly amplify engagement, demonstrated by a threefold increase in YouTube interactions and effective cross-platform engagement on Instagram and TikTok.
- Utilizing exclusive content and promotions on specific platforms, such as unique merchandise on Whatnot, can enhance audience participation and engagement.
- Platforms like Whatnot can provide new user experiences, which is evident from positive feedback from first-time users enjoying the platform.
- A diverse social media strategy is crucial for reaching varied demographics, evident from examples like a 53-year-old nurse leveraging Instagram and TikTok to start a photography business.
33. 🛒 Maximizing Whatnot for Business Growth
- Currently, only 670 people are using Whatnot, indicating a vast untapped potential for businesses to engage with new audiences.
- Gary V's website offers a free 44-page deck that provides comprehensive strategies to capture attention and grow on Whatnot.
- The platform's global reach is showcased by international users like Mike from Australia, emphasizing its accessibility and potential for worldwide business expansion.
- New users are encouraged to visit Gary V's site to access free resources and offers, which can significantly enhance their initial experience and success on the platform.
- Promotional tactics, such as selling Vriends desk toys at a special price of $15 instead of $18, are recommended to increase engagement and sales.
34. 🤝 Networking and Securing Pre-seed Funding
- Mona, employed at Yale, contributes to a lab that utilizes VR technology to customize behavioral interventions for children, exemplifying innovative application of technology in healthcare.
- In her entrepreneurial venture, Mona has invested in UI/UX wireframes, indicating an early commitment to developing a user-friendly product, crucial for attracting investors.
- Strategically collaborating with Jessica Greenwall, a former superior at Vayner, Mona demonstrates the importance of leveraging existing professional networks to advance her startup, showcasing networking as a key strategy in securing pre-seed funding.
35. 🗣️ Debunking Success Misconceptions
- The speaker plans to present a demo by March for an AI-powered Electronic Health Record (EHR) system designed for therapists, which aims to improve diagnostic accuracy through intake information collected by an AI chatbot, while also incorporating VR and video game interventions to personalize patient treatment.
- A common misconception is addressed: the speaker did not inherit a successful business but worked from age 14 to 34 to grow their family's liquor store from $3.8 million to $65 million, indicating the personal effort and strategy involved in its expansion.
- Despite significant growth, the speaker experienced financial constraints when leaving the family business to establish Vayner Media, highlighting the personal sacrifices and strategic risks taken.
36. 📊 Competing with Tech Giants Strategically
- An individual achieved significant business growth from $3.8 million to $25 million, showcasing a successful strategy in competing against larger tech companies. This emphasizes that substantial growth is possible even in the presence of tech giants.
- Key advice for competing includes not being intimidated by the large funding of tech giants and instead focusing on unique strategic advantages that smaller companies can leverage, such as agility and personalized customer engagement.
- The segment highlights personal growth and business achievements as motivating factors, suggesting that smaller companies should capitalize on their ability to innovate quickly and adapt to market changes more efficiently than larger competitors.
- Specific strategies that contributed to the business growth included leveraging niche markets, focusing on customer-centric approaches, and utilizing technology to enhance operational efficiency.
37. 📚 Navigating Pre-seed Funding Challenges
- Identify and leverage niches within big tech ecosystems by developing complementary technologies, essentially positioning your startup as a Layer Two solution.
- Anticipate a low acceptance rate from angel investors, averaging one successful pitch out of 25, underscoring the importance of perseverance and numerous attempts.
- Utilize personal storytelling and maintain authenticity during pitches to better connect with angel investors and improve funding prospects.
- Commit to relentless networking and maintain a rigorous meeting schedule to enhance the likelihood of securing funding, highlighting the importance of building relationships.
38. 💼 Addressing Ageism in Employment
- While some companies avoid hiring older individuals due to perceived drawbacks, there are firms actively recruiting them, dispelling the myth of universal ageism in employment.
- An example of inclusive hiring is a company that recruited nine older employees recently, demonstrating that ageism is not a barrier in all workplaces.
- Highlight that ageism perceptions often stem from misconceptions about older workers' adaptability or technological skills, which some companies are actively challenging.
- Include statistics or studies showing that age-diverse teams can enhance productivity and innovation, supporting the case for hiring older workers.
39. 🇸🇪 Tackling Brand Building Challenges
- Unlimited companies are hiring people in their 40s, countering the belief that older individuals are not in demand.
- The perception that older individuals are not being hired may stem from personal biases rather than market trends, highlighting the importance of addressing self-perceptions in the job search process.
- To improve hiring outcomes, individuals should focus on updating their skills and networking, as these factors can significantly influence employability in the current job market.
40. 📺 Strengthening Connections Through Live Interaction
- The speaker achieved the status of the largest perfume influencer in Sweden within one to two years on TikTok, demonstrating the platform's potential for rapid growth.
- Despite this personal brand success, the speaker encountered difficulties in translating influence into sales for their own brand, underscoring the complexity of brand building.
- This challenge indicates the importance of strategic planning and effort in brand development, even with an established personal following.
- The speaker is actively seeking guidance on diversifying content strategy and exploring new engagement methods to enhance their brand's market presence.
- Specific strategies that could be considered include leveraging cross-platform promotions, enhancing audience interaction, and refining the product-market fit to boost sales conversion.
41. 💬 Gathering Audience Feedback for Improvement
41.1. Live Sessions for Audience Engagement
41.2. Platform Utilization for Feedback Collection
42. 🎥 Enhancing Engagement via Live Sessions
- Engaging with your audience live is crucial for deepening connections, as people may not buy products just to support; they need a genuine connection.
- Utilizing live sessions as a focus group can provide insights into customer preferences and reasons for not purchasing.
- The effectiveness of live sessions may be perceived as lower due to reduced audience size, but they remain vital for engagement and feedback.
- Overcoming ego-related barriers is necessary to leverage live sessions effectively, even if current attendance is low.
43. 🛍️ Shifting to Social Selling for Retail Success
43.1. Social Selling Strategies
43.2. Engagement Tactics
44. 🔄 Balancing Risk and Reward in Business
- Focusing on vanity metrics can be misleading; prioritize metrics that demonstrate depth and impact, such as customer engagement or conversion rates.
- Taking calculated risks is practical as long as it does not result in severe negative consequences, such as losing one's home. Pursuing personal dreams can justify risk when only personal stakes are involved.
- Garage sales and platforms like Whatnot offer opportunities to experiment with selling items online. For example, you can test the market by selling unused household items to understand consumer preferences and pricing strategies.
- Create a Whatnot account and attempt selling random household items as a practical step to explore the platform's potential and learn about online sales dynamics.
45. 🛒 Adapting Retail Strategies for Growth
- Entrepreneurs often struggle with having too many interests, leading to inaction. Focus is necessary; choosing one area to start is vital.
- Many people use having multiple interests as an excuse to avoid doing the work required to succeed in any area.
- A common issue is the desire for results without the willingness to put in the necessary effort. This mindset is compared to the quick fixes sought in plastic surgery and OIC, which do not exist in entrepreneurship.
- The key to overcoming these challenges is to prioritize one interest, develop a strategic plan, and commit to sustained effort.
- Examples of successful entrepreneurs who focused on one interest include Steve Jobs and Oprah Winfrey, who achieved significant success by channeling their energy into a single venture.
46. 🧩 Exploring Diverse Interests and Taking Action
- The importance of taking concrete actions to achieve goals rather than merely dreaming about wealth and success is emphasized.
- Specific desires for luxury items like a Lamborghini or private jet are used as examples to illustrate common dreams that require action to achieve.
- Critiques the mentality of relying on luck instead of proactive efforts, labeling non-action oriented individuals as 'lazy farters.'
- Highlights the need for personal responsibility in achieving goals and the importance of not just relying on wishes or dreams.