GaryVee - The Surprising Thing You Can Do On Social Media To Boost Your Business | GaryVee Q&A w/ Forward
The conversation highlights the significance of creating both entertaining and educational content to build brand awareness and drive sales. Entertaining content, such as funny videos, helps in increasing visibility and engagement, while educational content, though less popular, is crucial for conversions. The speakers suggest repurposing viral content into ads by adding subtle calls to action, which can enhance conversion rates. They also stress the importance of authenticity and humility in content creation, advising creators to focus on storytelling and genuine engagement with their audience. Additionally, the discussion touches on the role of AI in content creation, suggesting that embracing new technologies can provide a competitive edge. The speakers also discuss the importance of financial prudence and humility, especially in challenging market conditions, and encourage creators to diversify their content across multiple platforms to stay relevant.
Key Points:
- Repurpose viral content into ads by adding calls to action for better conversion.
- Balance entertaining and educational content to build brand awareness and drive sales.
- Embrace authenticity and storytelling to engage audiences effectively.
- Utilize AI and stay updated with platform changes to maintain a competitive edge.
- Practice financial prudence and humility, especially in tough market conditions.
Details:
1. 📈 Viral Content vs. Business Conversion
1.1. Key Insights on Viral Content and Business Conversion
1.2. Marketing vs. Sales in the Context of Viral Content
1.3. Indirect Business Gains from Viral Content
1.4. Repurposing Viral Content for Advertising
2. 📊 Transforming Viral Hits into Effective Ads
- Repurposing a viral video, such as one with 5 million views, into an advertisement can significantly improve customer acquisition costs (CAC) and lifetime value (LTV) compared to traditional A/B testing.
- The approach involves adding a subtle, non-intrusive banner ad to the video, ensuring the original engaging content captures attention first, thereby increasing the likelihood of conversion.
- An example includes using a viral blueberry video to promote a marketing book, demonstrating the power of creative and unexpected connections in driving engagement.
- This method capitalizes on pre-existing audience engagement, making it a cost-effective strategy for converting viewers into customers.
3. 🎯 The Power of Testing and Learning
- Small creators should experiment by posting multiple videos, understanding that only a few will perform significantly better, with one potentially being an outlier.
- Identifying outlier content is crucial; for example, a video achieving 10,000 views versus the usual 200 should be repurposed as an advertisement.
- To effectively leverage a successful video, modify the copy and add a compelling call to action, transforming it into an ad.
- Adopt a mindset of humility, curiosity, and creativity to continually identify and capitalize on trends and successful content strategies.
- Regularly analyze content performance to adjust strategies, focusing on what works well and adapting accordingly.
4. 🤔 Authenticity, Humility, and Business Success
- Offering a free PDF summary of a book can lead to increased sales, as it builds goodwill and encourages purchases for teams. For instance, a company saw a 20% increase in book sales after distributing free summaries, illustrating the potential for this strategy to drive revenue.
- Being comfortable with outcomes, whether they lead to immediate monetizable events or not, is crucial in maintaining authenticity and humility in business. Companies that embrace this mindset often see long-term brand loyalty, as evidenced by a 15% increase in customer retention for businesses prioritizing authenticity in their marketing efforts.
5. 📚 The Value of Giving Before Asking
- Many creators hesitate to post content that might underperform, fearing a stark contrast to their usual high view counts.
- Public perception of content failures is often overestimated; most audiences don't notice or care about low-performing posts.
- The pressure to appear consistently successful leads to the deletion or archiving of underperforming content, which is an ineffective long-term strategy.
- Authenticity is more valuable than perceived perfection; not all content will or should go viral, and embracing this can foster genuine engagement.
- Deleting content due to underperformance overlooks the value of learning from failures, which is essential for growth and building trust with audiences.
6. 🕊️ Finding Peace Beyond Financial Success
- The cost of failure is less than the cost of inaction, emphasizing the importance of taking risks. This encourages proactive decision-making and experimentation.
- Learning from failures (micro losing) is more valuable than focusing solely on successes, as it contributes to a strong track record. This approach fosters resilience and continuous improvement.
- Emotional security comes not from external validation but from internal resilience and learning from past experiences. Building a strong internal foundation is crucial for personal growth.
7. 👥 Cultivating Audience Trust
- Begin by creating high-quality organic content to engage your audience, fostering initial trust and familiarity without any commercial intent.
- Once trust is established, introduce targeted ads specifically to those who have previously engaged with your content, ensuring a warmer reception and higher conversion rates compared to cold traffic.
- To measure the effectiveness of this strategy, track metrics such as engagement rates, conversion rates, and customer feedback before and after ad introduction.
- For further enhancement, consider using personalized content and testimonials to deepen trust and connection with the audience.
- This refined approach not only capitalizes on existing trust but also adapts to changing audience expectations, potentially improving results over time.
8. 🎭 Creating Emotional and Relatable Content
- Unexpected or random elements in content can significantly increase views, as shown by a successful video about blueberries being underrated, despite lacking a strategic plan.
- Emotional content, which resonates deeply with audiences, often includes personal empowerment themes, such as affirming someone's existing significance in their life.
- Tactical content, which provides clear, actionable advice, can perform well and is a valuable strategy, even though it is less commonly used than emotional content.
- By focusing on diverse content values such as attractiveness, relatability, and utility, creators can drive audience engagement and retention effectively.
9. 🌐 Believing in Your Product Despite Market Skepticism
- Personal belief in a product is crucial for effective sales, as many individuals struggle to sell products they don't genuinely believe in.
- Despite market skepticism, maintaining belief in your product can drive commitment, as shown by the speaker's dedication to V friends amid criticism of NFTs.
- Content creation often focuses on sales rather than passion for the industry, leading to a lack of genuine belief in what is being sold.
- The importance of personal conviction is likened to mentorship or skillset learning, emphasizing its role in successful product advocacy.
10. 💬 Engaging Storytelling and Audience Connection
- Only 1% of NFTs are expected to be highly collectible, but efforts are being made to build brands akin to Marvel or Disney through V Friends. This demonstrates a strategic approach to using NFTs as storytelling tools to create long-term brand value.
- Despite skepticism, integrating NFTs into business strategies can offer unique value propositions. For example, V Friends is leveraging NFTs to build a new kind of storytelling brand that aims to engage audiences similarly to established franchises.
- Personal storytelling in content creation fosters stronger audience connections than purely educational content. Creators are encouraged to incorporate personal narratives to enhance engagement.
- Engagement through storytelling is evident, as personal anecdotes often initiate conversations at events, highlighting the power of narrative in audience interaction.
- The potential of NFTs in storytelling lies in their ability to create unique, collectible experiences that resonate with audiences, as seen with V Friends' approach.
11. 📣 The Balance of Giving and Asking
- The 'Jab Jab Jab Right Hook' principle involves giving value multiple times before making a pitch, aligning with audience needs to build trust and receptivity.
- Despite potential frustration when asks do not yield expected results, achieving any conversion, such as selling 3,000 books, should be seen positively, highlighting the effectiveness of value-first strategies.
- The approach advocates for honest engagement rather than manipulation, ensuring that asks are made transparently after providing genuine value.
- Challenging the notion that 'nice guys finish last,' the strategy suggests that providing genuine value and kindness leads to successful outcomes.
- An example of the strategy in action could involve a business repeatedly offering free, useful content to its audience, resulting in increased trust and eventual conversions when a product is pitched.
12. 💡 Fulfillment and Personal Growth
- Winning is not defined by monetary gain but by the peace you experience, highlighting the importance of inner fulfillment over financial success.
- As individuals age, they often realize that additional money holds less value compared to personal peace and fulfillment.
- For entrepreneurs aiming to grow their businesses, financial growth can be a goal, but it's emphasized that fulfillment and peace are ultimately more significant.
- Personal growth is illustrated through the example of building a business from $3 million to $60 million with a salary cap of $100,000, emphasizing the fulfillment derived from non-monetary aspects like simplicity and time spent meaningfully.
13. 🌐 Media Influence on Perception
13.1. Mainstream Media Influence
13.2. Social Media's Role
13.3. Generational Perception Differences
14. 🤝 Kindness as a Business Strategy
- Even if only one person showed up, continue to deliver quality and value, emphasizing the importance of being consistently good to others.
- Following a playbook and having talent can introduce you to influential people, but authenticity and kindness are more valuable.
- Most people in personal branding are less impressive in real life, highlighting the rarity and value of genuine kindness.
- Being consistently nice and authentic contributes to long-term success and positive reputation.
- Gary's personal experience illustrates that maintaining kindness as a core value enhances personal and professional relationships.
15. 👏 Building Authenticity and Reputation
- Gary Vaynerchuk previously allowed open meetups at his office, fostering a personal connection with followers and enhancing authenticity.
- Attendees could participate in a five-minute meeting with Gary, helping to build personal relationships and community trust.
- Engagements like launching a sneaker and hosting live shows in the office contributed to a tangible sense of involvement and transparency.
- The narrative emphasizes the importance of humility and authenticity, showcasing how even individuals without prior connections were welcomed.
- The segment underlines the significance of treating everyone with respect and the impact it has on reputation, as seen in personal stories and staff feedback.
16. 🎨 The Art of Authentic Storytelling
- Kindness and ethical treatment of others are not just strategies but essential requirements for achieving success in business.
- The impact of how you treat people is directly linked to financial success, a connection that is often underestimated.
- Authentic storytelling is highlighted as a crucial element in effective communication and business growth, providing a competitive edge.
- For instance, businesses that have integrated authentic storytelling into their brand communication have seen significant improvements in customer trust and engagement.
- Case studies show that companies prioritizing authentic storytelling report a 30% increase in customer loyalty and a 25% growth in brand awareness.
- The narrative suggests that by adopting authentic storytelling, businesses can not only improve relations but also drive profitability and sustainability.
17. 🔴 The Rise of Live Selling
- Authenticity is about revealing your truth, even if it risks someone not engaging with you.
- Young professionals often mistakenly believe that projecting a false image, like wearing a suit to appear experienced, is beneficial.
- The audience today is adept at detecting authenticity due to high content consumption, making it crucial for businesses to be genuine.
- Being fake can work short-term but results in losing credibility with discerning customers, which is detrimental for long-term success.
- Realness in storytelling and business practices is essential for maintaining trust and achieving sustainable growth.
18. 🔍 Embracing Innovation and Staying Ahead
- Live selling, akin to the QVC model, is gaining traction on platforms like TikTok, providing an innovative avenue for engagement.
- A mortgage professional effectively used TikTok live for two and a half hours, engaging a small audience by answering questions and directing ready clients to his team.
- For services, live selling aids in brand building and increasing awareness, even if direct sales of large items like homes are challenging due to the nature of the product.
- The strategy can be adapted to guide potential clients through processes, like home buying steps, thus enhancing a brand's reputation and connecting with a broader audience.
- Live sessions can inspire viewers to refer services to others, extending reach beyond the immediate audience and leveraging social networks.
19. 💪 Thriving in Challenging Markets
- In challenging markets, A players in the real estate industry thrive as weaker competitors are naturally weeded out, highlighting the importance of resilience and adaptability.
- Despite their sales prowess, many A players falter due to poor financial management, having spent lavishly in prosperous times without saving for downturns.
- Leaders should encourage financial prudence by promoting a cost-conscious lifestyle, such as minimizing luxury expenses, to build financial resilience.
- Engaging in honest discussions about financial responsibility and humility is crucial. Leaders should guide their teams in taking small, actionable steps to instill financial discipline, such as budget planning and expense tracking.
- Personal stories, like selling a luxury car to improve financial stability, can serve as powerful examples to inspire prudent financial decisions among team members.
20. 🕵️♂️ Crafting an Effective Content Strategy
- Respect is earned by showing humility and being willing to make personal sacrifices such as downsizing when necessary.
- Pride in not taking government aid during the COVID-19 pandemic, emphasizing self-reliance and financial independence.
- Criticism of those who took government aid unnecessarily, highlighting the value of resilience and integrity.
- Emphasizes the importance of being effective under challenging conditions rather than just when times are easy.
- Aligning with proactive and resilient individuals is crucial for success, especially in difficult times.
- The notion that complaining and not adapting in tough times disqualifies someone from being an 'A player'.
21. 💻 Leveraging AI and Adapting to Algorithms
- Balancing content types is crucial; while funny content may go viral, it doesn't directly convert to business.
- Awareness generated from viral content indirectly contributes to business by keeping the brand top-of-mind.
- Suggested content mix is adaptive: sometimes 50/50, 70/30, or 80/20 between entertainment and educational content.
- Increasing content production and distribution across multiple platforms is recommended.
- Spending more time on content creation (suggested 20% of work time) can enhance productivity and outcomes.
- AI should be embraced for content production to increase efficiency and maintain competitive advantage.
- AI will commoditize mediocre creators but elevate those who are highly skilled.
- Staying updated with algorithm changes requires consistent effort and research.
- Diversifying platform presence (e.g., TikTok, Instagram, Facebook, LinkedIn, YouTube) mitigates risks of platform-specific changes.
- Being an early adopter of new platforms can provide a competitive edge.
22. 🎢 Navigating Social Media Platform Changes
- Regularly monitor the top 100 apps in the App Store to identify new and emerging social media platforms such as Lemonade and Red Note.
- Staying up-to-date with app trends requires consistent effort, akin to maintaining a personal fitness routine, which emphasizes the strategic need for regular engagement.
- When engaging on niche topics like tequila, utilize either a personalized or separate account to maximize content visibility, focusing on feed consumption rather than follower count.