They Are Making Millions of Dollars Off of Influencer Marketing?! | DailyVee 361

They Are Making Millions of Dollars Off of Influencer Marketing?! | DailyVee 361


– What up, guys? The other day I spoke
at a really interesting food and agricultural keynote. This is an incredible
keynote for a lot of people in the B2B sector or the traditional $100 million dollar plus business sectors, this is a keynote that
you should forward to a bunch of your dads and
grandpops and grandmas and grandpas, it’s just
a very interesting talk. I felt, I mean this was, I was really in the zone. I hope you agree. (uptempo music) Morning. Very, very happy to be here. Really enjoyed the opening monologue. In the context of today’s morning, I tweeted just now, it’s been interesting over
the last 72 hours whether in a Wall Street Journal
interview or a business meeting, now a conference, and a
lot of one-on-one meetings, I’ve heard the same thing
about 11 or 12 times and it struck me finally
this last time on stage which is how many people
keep saying the word or the sentence it’s
changing, it’s changing. I think anybody here this morning that hasn’t fully quantified
how much has actually changed, this has changed. I think there is an
unbelievable disconnect between the framework and strategy of how we are running our businesses, whether a B2B or B2C
environment on us calibrating is it changing or has it changed? And more importantly, the
practicality of the timing. I spend very little time on
the impact of self-driving cars in a micro, in a 24 or 36 month window, but I try to understand and
quantify them in a macro. And I think the thing that I’ve spent, and I’m a real hardcore,
purebred entrepreneur, just to give you guys context
on the cross lines here, I was born in the Soviet
Union, came to the US, lived in a studio apartment
half the size of this stage with eight family members, very old school, merchant upbringing. My dad got a job as a
stock boy in a liquor store and we saved all our dollars. I’m super an enigma. All the Russian Jews that emigrated were straight A students. I was a straight D and F student. It’s really interesting,
I’m extremely bitter now because I was making
three to $4,000 a weekend when I was 12 selling baseball cards, ’cause that was the cultural phenomenon, but I was a loser because
I was getting Ds and Fs because it was the late 80s, early 90s, and the only ROI was the
college you were going to. If I was making $4,000 a weekend selling baseball cards today, I would be the next Mark Zuckerberg and on covers of magazines. And so, I’m very fascinated by trends, by things that happen,
but I think the thing that has really worked
for me is I didn’t realize probably into the last decade, I take a lot of pride when I
was an early investor a long, two, three, four years
pre-IPO or acquisition on things like Twitter and
Facebook and Venmo and Uber. I’m not in the luck business, I’m in the marathon running
business, and more importantly, I’m in the timing business. I’m so deeply actually consumer-centric that I don’t have any other gear. The only thing I ever do
is try to reverse-engineer the attention of my end consumer whether in a B2C or B2B environment, and I try to understand things like, it blows my mind how many
people here feel comfortable because they have long-term
contracts and relationships with some of the biggest
companies in the world without realizing that
those companies themselves are so disproportionately
vulnerable, and I just, I play with this, right? I play with the fact that $80 billion is spent on television commercials on the Fortune 500 CPG brand side, yet 94% of them lost market share because not a human being on earth watches a television commercial. None. And by the way, can we
all agree this is not a 14 year old girl crowd, right? We are a little bit
older here, but not old. Everybody here has got plenty of time. How many people, actually, you know what? Let me frame up my entire talk here. Before I go any further,
how many people in this room are retiring within the next 10 years, not because you’re gonna
crush it and cash out, but because you’re actually just old? (crowd laughing)
Just raise your hands. Okay, all right. So for the 13 of you, I think
there’s a level of grain of a salt that we can take going forward, but for the rest of you, I
want to tell you something that I really want to get across as a framework to the strategy
of why this conversation is disproportionately important and how, and I work with companies,
like say, P and G and a bunch of food service companies, so I have a real sense
of context in this room. I want to leave you with
disproportionate practicality of why I think you need to
look at your marketing spend, or more importantly, why you need to start debating a marketing spend, because if you are a
sales-driven organization in a B2B environment, you are
disproportionately vulnerable, so we need to talk about that. But before we get into that, here’s why I asked that 10 year question. Literally nothing we talk
about, or way more importantly, literally nothing that
controls the attention of our end consumer existed 13 years ago. We need to take a big step back
in this room and understand what we are talking about is
not social media or Snapchat, what we are talking about is the maturity of the internet itself, what
that means to the human race, and everybody in this room, including me, is so disproportionately misunderstanding how substantial this shift is and what happens over the
course of the next decade. The internet is the middleman, period. And it’s maybe just not your turn. It was the bookstore’s turn first. It was some guy or gal that
owned 13 medallions in taxis in this city second or third. It is the hotel rooms
and the supply and demand of that world’s turn today. It is the media companies across
the board’s turn right now and it may be your business next. Walmart’s not gonna give you the contract, Walmart’s gonna have to do
it itself, they’re gonna be, they’re gonna buy dairy farms, they’re gonna grow the grain,
everything gets shrunk. And so we have to take a real step back and understand that there
is only one thing, one, there’s one thing that will keep you from being a commodity; Your brand. The only thing that will keep you away from being completely
commoditized is your brand. Can you create an environment where somebody actually
makes an emotional decision or a subconscious decision,
not a practical one? Because if you’re in the middle and people are gonna
make practical decisions, there’s an enormous amount of
vulnerability in the system. We are completely and utterly
controlled by this device whether you like it or not. Please, my friends, do not
make business decisions because of your personal, romantic point of view of technology. The amount of people here that
will dictate their businesses to failure because of their points of view of when they go out, they find it sad that people look at their phones instead of talk to each
other is staggering to me. And so look, this is real
disruption, this isn’t ha ha, this is over the course
of the next decade, 90, 80, 70% of the biggest
companies in multiple sectors will not only decline
but completely diminish and completely vanish. I look at the fashion industry, it’s just so fascinating, literally, they’re all out of business. The math is just not gonna work. Every day, there are brands that go from zero to $15 million in sales on the back of influencers on Instagram with no overhead or
infrastructure, at scale. And the cut of those
thousand cuts is staggering. And this all is on top of you can talk, we can talk about food trends and the behavior of the end consumer, that’s absolutely right, that’s fine. That is minor leagues
compared to the fundamental human shifts we’re going through. Did anybody see the robot that
went viral on the internet the other day? There’s a robot that was
doing twists and turns. How many people, just raise
your hands, I’m curious. Did you see what Elon Musk said about it? Which was, so there’s this robot, you have the find this, I don’t
have a lot of data on this, so you know, it’s in the feed, in the headline reading society, I don’t like to talk
about things I don’t know, here’s what I know. A robot that scared the crap
out of me was in my feed. Just doing stuff that makes
LeBron look like me, right? Elon Musk decides to take that, somebody more educated
in robotics than I am, and said something very clever and I know enough about
how he communicates where he’s like, “You think this is cute?” In 24 or 36, I don’t remember the timing, very shortly, you won’t even
be able to see this robot without technology that
it would be so fast that the human eye can’t even see it. Now why do I bring that up? I bring that up because it’s a proxy. It’s a proxy to the following. Everybody in this room needs to realize that we are about to run an incredibly fascinating
business marathon, and most of you aren’t
even on the treadmill yet. And let me explain. The treadmill to me is
how you spend your money on marketing and sales. The one place that you
could leave here today, walk out the door, fly home, and do something about
what I’m talking about is how you spend money to get revenue in. I am fascinated by people in the B2B space to think it’s ROI positive to
buy booths and full-page ads in B2B magazines in
2018 and not understand how Facebook advertising works to become a top of the funnel
conversion sales funnel for their business. I’m fascinated, I am fascinated
that a room like this with as many successful
people as sit in these chairs have unbelievable opinions
of Facebook advertising without ever running a
Facebook ad in their lives. You have a whole lot of
opinions based on stock prices or a headline you read or
what the Wall Street Journal wrote on the issue nine months ago, yet you lack practitionership
to understand exactly what’s happening here. And we are living through
the great divide right now, my friends, of the headline readers and the practitioners when it
comes to running businesses. And by the way, that last line, society. All these confusions of how
things are changing is the deep either lack of interest to look at it because it’s so heady that
it’s so scary to understand how big of a shift this is, or the naivete, or worst
of all, the audacity. Every business that is CFO-driven, short-term, 90-day-driven
financial arbitrage machines are on-call because
they haven’t quantified that the ground that they’re
standing on has changed and that’s been a stable
ground in consumer behavior. Look, consumer behavior
is super interesting for the last 70 years. What we don’t quantify is
that for the last 70 years, the propaganda that made
you make business decisions stayed the same. It was print, television, radio,
direct mail, it was basic. The internet is such a
harder place to navigate. And what’s interesting, and
let me take a step back, to frame up what my passion
is my opening rant sits on, I only have one move. How many people here by show
of hands are familiar with Mariano Rivera, the New
York Yankees pitcher that pitched for 20 years? I’m just curious, because
I want to use the analogy. Okay, good enough, I’ll use it. 20 years, closer for the Yankees, goes down as one of the great
all-time players of all time, the guy had one pitch. We had others for the
baseball nerds in here, but the fact the matter
is, he had one pitch, and nobody could hit it. Edgar Martinez from the
Mariners could hit it. Nobody could hit it for 20 years. And that’s what I have. I suck at most things, but
I will buy the New York Jets and win seven Super Bowls, which will cost me billions of dollars because I have one pitch, and is what I’m trying to shove down the throat of this room which
is I day trade attention and you better start
understanding what I mean by that. I day trade attention. No matter what you do in this room, for the people presenting to
the most senior executive here, whether you have a side
business when you go home that you’re passionate about, which is selling jelly
direct-to-consumer on Amazon, I don’t know you and I don’t
know what you’re up to, but let me promise you, the
one thing that I can talk about that connects everybody here and will bring value to everybody is before you tell me
how good your thing is, you need my attention. Many rely on historic
natures of the business, the sales funnel, the B2B
nature, the contracts, the way it’s been. Others, 25% of this room
probably spend their time thinking about the consumer. How many people here actually
are in B2C businesses? Raise your hands. Just curious. Just higher, if you don’t mind, because I want to navigate
my talk, thank you. B2B. The rest, okay. I’m fascinated, let me
go very tactical on you because I really want to go to Q an A, so I want to set up as much framework, but I’m gonna go a little tactical, maybe it’ll spur a question. I’m watching SaaS companies
that have a million dollars in funding create disproportionate wealth by running Facebook ads against the employees of segmentation. I believe that a lot
of people in this room don’t understand that
their company can run ads against the employees of an organization they are trying to do business with. That ad may say, “Does
your head buyer know, “does your CIO know, does your CFO know “the fact that I can run
ads that cost me $4 CPMs “that are actually being consumed “and that the creative of
the video or the presentation “or the white paper or the paragraph “or the image with words on it
starts with copy in the post “that says does your blank
within your organization know “which then leads to between
1.3% and 4% of people “forwarding it to that
person whether janitor “or C-suite co-worker?” To then convert in top of funnel is something I’ve never
seen in B2B in the 20 years of being a practitioner in marketing, both traditional and direct
mail and radio and television and outdoor and digital,
my passion sits here today because I know that Facebook is the disproportionate
arbitrage for this room, and I also am empathetic to know why nobody would believe
that in a B2B environment in this room, but it doesn’t
make it any less true. And because building my dad’s business from a three to a $60 million business, which was a liquor store in New Jersey over a five year window
with no dollars at all, no cash infusion, no VC was very difficult but the only reason I pulled it off is because I day traded attention. In 1996, I started an email newsletter when nobody was doing that, and I had 91% open rates
for the first four years of my career, which is unheard of. And then Google came out and
I bought wine terms on Google for five cents a click from the word wine to the word Silver Oak. And when I hear, and it
wasn’t in the bio here, but a lot of times they’re like, “And he took his business
from three to $60 million”, I cringe in the corner before I come on because I say to myself,
“It should have been 250.” And the reason it should have been 250 was because I was one
of the first advertisers on Google AdWords because I was on there the day it came out. It was so grossly under-priced attention, but I was too young to
understand that it was so big that it was a once-in-a-lifetime,
a twice-in-a-lifetime, maybe a three-times-in-a-lifetime in my 60-year career
arbitrage to build wealth on such underpriced attention. I stand here with this energy because I have a chip on my shoulder because I’m mad that I
didn’t understand it, and that I spent money on
direct mail and print and radio and sales and many other things. How many people here play poker? Raise your hands. Thank you. When you have the best
hand, you go all-in. I had it, and I didn’t. The best hand as I stand here today, and I could care less if it’s not tomorrow ’cause I day trade is Facebook. And you have to, at a bare minimum, understand how to start
spending money in that world, not because it’s gonna be so
disproportionately ROI positive for your business, though I
think any dollar spent there, if you actually know how to do it, will be better than what
you spend anywhere else, it’s because you need to start at the top, creating a cadence to
understand how to market and sell in the new
environment that we live in. There is no way that you
will be an organization that has success and
machine learning and AI and any other things that are gonna happen from 2020 to 2030 if you don’t
understand how to communicate in the mobile-first
environment that is today. You will not have the
taste or understanding, and to be very frank,
some won’t even get there. And so it’s a very fascinating time and the stakes are extremely high. When I look at the businesses
in this room from afar, when I look at the current marketplace, I get enormous passion
because it’s so avoidable, but the problem is, even the
three people in this room that are inspired and are
actually gonna do something about this will outsource it and not become the
practitioners themselves which will then create the vulnerability because 95% of the execution of the thesis that I just talked about
right here is garbage and is being done in the
best interest of the partner, not necessarily your organization. We live in a very tricky world. In my thesis of day trading attention, the Super Bowl is the number
one under-priced asset. Here I am talking about digital and crap like machine learning,
and even for B2B companies, I think the best thing
you could spend money on is the Super Bowl in North America, because you know every single American will know what you have to say if you actually execute that
30-second spot properly. It’s 100% penetration. It’s under-priced at $7 million a pop. Meanwhile, a lot of you
spend money on digital, may spend money on digital. Most likely not because I was digging, a lot of sales-driven, we’ll
get into that in a minute, and I believe that
programmatic digital buying is the most garbage overpriced
marketing in the marketplace that nobody in this room, just like they don’t consume a commercial, ever goes to a website and
carefully consumes a banner ad below the fold and then clicks that banner and gets into the funnel, yet billions of dollars being
poured into that environment. And so what’s tricky about it is in a keynote environment like this, I can only go top-line. In reality, there’s so much
depth underneath this thesis in the practitionership,
but what is most important is understanding what
happens with the next chapter of companies that own the attention. Amazon and Google and Facebook and Apple are not kidding around. They’re building a layer on
top of the internet itself. The internet is where we live our lives. This is now secondary,
whether you like it or not, by the allocation of attention time. It just is. This is secondary, and it’s
gonna get extreme in a VR world and for a lot of us, we will never see it, but you think this is intense? You think it’s bad kids
are on iPads during dinner? Kids are gonna live in pods in San Diego and be in the internet 20 hours a day. We will see that, 20,
30, 40 years once VR, VR is the only potential
technology at this point that can arbitrage the
internet out itself. The majority of this room, and I’m looking at the faces and the ages will wear contact lenses that
mix them between real life, AR, like Santa Claus is giving
the keynote with me right now or VR, you’re just literally
in a different place right now. And so this phone that seems so intense and you can’t live without
it, this is a pager. Remember those pagers? This crew remembers the pager. As a matter of fact, do
you know there are people in this room who said they
would never get a mobile device because their pager was good enough, and if they needed to get a hold of you, “I’ll get back to you and
I can get back to you”? So another thing I want to talk about, because I think it might,
I’m gonna go very high level, but I do think for this kind of room, some people will understand this. This is what I’m spending all my time on, this is why I believe that
the Alexa and the Google Home and the Apple Pod are the next arbitrage and I think a lot of you
should think about this and this is where sales people can become disproportionately trained or arbitraged out completely,
let’s talk about it. At the top of the framework, the reason I invested in Uber years ago was not because I thought
they sold transportation, it was because they sold you back time. Every person here besides
health, wealth and religion and their family put time in the pedestal of the things that
matter to them the most. You do it every day. You give up privacy,
you spend tons of money to arbitrage time. Uber doesn’t sell transportation, Uber sells the perception of time. The thing that will sell
the most time back to us over the next decade will be
voice devices that are smart. I buy toothpaste now in my bathroom in one second through Alexa. I don’t make a note, I don’t grab my phone and
buy it on Amazon, I say, “Alexa, order me toothpaste.” She says, “Sure.” I say, “Buy this”, and
the transaction is done. How many of you have an Amazon Echo or Dot or a Google Home device in your homes? Raise your hands. Great. Most people are using it
for music, which is nice, but where this device
is going is staggering. And the potential is enormous. I saw a startup the
other day, for example, that I’m probably gonna
invest in that you say, “Alexa, I’m reading the
book”, you tell ’em the book, “Jack and Jill”, you start
reading the book to your child and as you’re reading, the Alexa is doing a surround sound narrative
along with you, in unison. You say, “And then it started raining”, and the whole room
sounds like it’s raining. There will be not a child
on earth in seven years that will accept a book read to them without 360 supported sound. (crowd laughing) More importantly, the things
that you will do in your car when you travel when you think
of it to use a voice device to get it done, reorder your
product, the smartification, when an IOT device, when
technology is in our food and it’s reordering itself for you, every person here is going
to have a smart refrigerator in a decade that reorders the products in your refrigerator for you. Amazon’s vulnerability is no retailer that has physical locations. I don’t care what M and
A activity Walmart has, Amazon’s vulnerability is the smart home that reorders products for you without you doing it for them. Toll Brothers is a bigger
competitor to Amazon if when you buy a new home,
it is stocked with products that just keep reordering
themselves for you. When you go into that kitchen
cabinet for the first time and the toothpaste and
deodorant is picked for you ’cause it’s free and
it just reorders itself when it’s being used up, when your Crest toothpaste
understands you’ve got one goddamn squeeze left and
it reorders itself for you and it comes just as
you’re squeezing it out, you’ll start understanding what I mean. And every person in this room will see it. My friends, please do me one favor, and this is the advantage you have over the 25 year old that gets it, you underestimated the
internet 13 years ago. Please take your mental
place back to where it was, remind yourself of the
embarrassment statements that you made like the internet itself is a fad 15 years ago, that Facebook was a fad and
you would never be on it, that you would never send an emoji, please, please understand
that I only have one pitch and here it is; I know what you’re gonna do before you do because we like to say
no before we say yes, but we have no choice. Now, you live your life how you want. You know how to parent and grandparent, you do with your money what you want, blah blah blah blah blah,
but do not bring that to the business environment. Your responsibility as
an executive is to be 100% unemotional on these issues when it comes to the business environment. That’s what we do. And so please leave your opinions at home on what’s happening to the human race. Let me remind you that
Elvis shaking his hips was once considered a devil move. Understand this is all evolution. The robots will kill us in the end, hopefully not for us to see, but realize that the
upside of this next decade, all this conversation I just had, I’m curious how this is
going through your head because for me, everything out of my mouth for the last 20 minutes sets up offense. The problem is, so many people
are successful, have scale, and they see defense in
what comes out of my mouth. You have leverage in the distribution or the business
architecture you’ve created, so this disruption of
that is not interesting because your leverage
sits in distribution. The problem is all,
distribution of all kinds is now commoditized. And so what you need to
do is what I try to do every day of my life, I
will go into my office today and I will try to put
myself out of business. I will go into my office today and try to put myself out of business. I will look at what we do and I will try to understand
who can come along and kill us if I don’t make the long-term investment. To make short-term P and L
decisions for your own bonuses, the stock price, the
board, or what have you in today’s environment is business suicide because every company has to
make long-term investments because the C-changes
are so extraordinary. I run an agency. We’re gonna do $114 million in
revenue this year from zero, six years ago. We’re gonna make $1.4
million dollars in profit, triple-checked yesterday, right? We made $1.3 million in
profit the third year when we did $6 million. Why? Because I’m losing millions of
dollars building capabilities around voice and machine
learning and AI and messenger and everything else that
I know in 36 months, the Pepsis and Coca Colas and Budweisers and Nikes of the world are gonna need to have a chance to succeed. It’s not fun for my, the saddest human on earth is my CFO. He literally hates his life. I feel so bad for him, because I want to give him autonomy and I respect his position
and I let him do his thing, and then he gets to the goal line and I send him all the way back because this is the only
framework that has success in today’s environment, the lack of risk and chances
people are taking in here, even though they know they are right because of playing for the short-term, oftentimes for your own
human selfish reasons because of the timing
of how long you will be in that position is the
fascinating thing to me in the business environment today. Short-term stuff works in the past. Wall Street dynamics work, bonus
structures work, it worked. It will not. And that is why the long-term players will continue to eat up attention and deploy anything they want. Amazon and Google and Apple, Facebook are not gonna
stop at the things, I mean, I was so stunned and disappointed
by the collective surprise of Amazon buying Whole Foods. I was stunned. I’m just shocked that so many smart people were like, “Whoa.” Whoa what? How do you think this plays out? Do you know what Chase
Bank’s biggest competitor is? Amazon. What do you think is happening here? This is the biggest cultural
shift to the human race since the printing press
and it magnifies by 10 X. Do you understand the
ramifications of the Blockchain? You can talk about Bitcoin
being $10,000 all day long, that is the pager to
what the Blockchain is. Blockchain decentralizes the human race. Blockchain, not Bitcoin, not Ethereum, Blockchain is something that
Russia, America and China agree on and will stop because it’s their biggest vulnerability. Everything in the middle is vulnerable. All of you are in the middle. And so now what? I think what happens is the following. I’m gonna throw you for a real loop here. I’m gonna close with this because I really want to go into Q and A. Let me set up the Q and A. The reason I really want to do Q and A is I’ve made my statement,
you’re gonna have other talks, I kind of was listening to the agenda, I’m desperate for people to
ask very basic 101 questions because my intent when I speak is to get one or two people to do something. I have no ambition to get
five, 10, 20, 30% of this room to act on this thesis,
it’s just not practical in their short-term financial interest, but if I get one, two, or three, so for those people that are curious, please get ready, simple questions. How does a B2B food service
provider use Facebook to get an extra account? I don’t care, wherever you want to go. But before I go there, I really want to talk about the fact that the historical legacy stakes are very high of what I’m talking about, the compounded nature of
the marketplace is very high of what I’m talking about. Here’s what I mean by that. The scale that we now
live in is so extreme. The ability to go from zero
to a million to 100 million is so quick because of how much attention is in these phones. You have to look at it most practical, this gentleman here
with the nice yellow tie is working while this is happening. This is just, which I’m
cool with, do your thing– (crowd laughing) But it’s fun for me, right? Because you have to understand
how incredible that is. That is not something we
could all do 15 years ago, there’s just, I’m trying to
really push through here, please, stop underestimating. Stop underestimating. You have sales staff? How many people here have sales staff? Raise your hands. Great, let me talk to you
what I think you should do. You should start an internal podcast that you program every week that is made for your sales team because the toolkits and
the PDFs and the emails and the off-sites and awarding one guy the good thing he did
that we all want you to do a year award at the end is
not doing what you need. But, they are on the move. They are consuming content
at scale in their car. They can listen to your
podcast which is internal and all 1,600 of them can listen, and you can push propaganda
down their throat 24/7 if you understand how to give them value in 60% of the content,
entertainment, escapism, something that benefits them so that you can subtly bring in yours in. I believe that the businesses in this room have to take a page out of something that has been done historically by companies like the
Michelin Tire Company and Guinness Beers Company. I believe the people in
this room that understand that they are now a media
company first, comma, and then whatever comes out of your mouth or is on your business card that you will have the
framework of success for the next decade. Let me explain. I believe that if you understand why the Michelin Tire
Company 100 years ago decided to start reviewing
villas and hotels and restaurants throughout Europe because
they wanted people to start driving and using up their cars and stopping at their
stations and getting gas, and more importantly, changing tires, they started pumping propaganda, a guide in the cities of London and Paris which remarkably and coincidentally scored all the best foie
gras and champagne lists 40 miles outside the city, and forced people to go and see what this three-star chateau was, and they used a media property to create the business behavior that they wanted, that the Guinness Book came out because Guinness was losing market share in pubs, but knew that people talked
about trivia and fun facts in the pubs through their market research and created the Guinness
Book of World Records because they would hope
that you would talk about a 17-foot man, and then the Guinness brand would be reinforced and it
would come out of your mouth at the pub. These are two historically
unbelievably successful media executions. My belief is that if
you actually understood in the same way that it
is impossible for you to not have a CFO or a controller, it is impossible for you
not to have a head of sales, I believe for most of your organizations in the next five to 10 years, it will be impossible for you not to have an editor-in-chief of your business. You are not at the mercy of
the in-between media companies, you can go direct. You can start the most meaningful podcast. You can start the most
meaningful podcast tomorrow for all the franchisee
owners of every QSR company in America by giving them information that makes them run their business better, and then use all of
that attention to deploy what you want to accomplish
in your business. You can. It’s super far-fetched, it
doesn’t feel comfortable, but it didn’t feel
comfortable for the executives at the Nintendo Company
to switch from being a playing card company
to a board game company to a video game company. The evolution that is needed
in the strategies in this room when it comes to marketing
and sales are extraordinary. They’re extraordinary. And please do not rely
on what got you here. It’s exactly what is
not going to allow you to get to the next stage. So that’s where I’m at, that’s
what I’m thinking about. I want to put a couple more points on, and where are the runners for the Q and A? Just got a couple? Okay, awesome, just raise
your hands in a second, just looking at the timing. I’ll leave with this, and
then we’ll do some Q and A, we’ll take it from there. And please think about your question. Much bigger, better companies than yours went out of business. It’s history. And what is happening
now to the infrastructure of our society is something
we’re gonna have to navigate, so please check your audacity at the door, nobody cares about your
contracts or your history. It’s your vulnerability. Thank you. (crowd applauding) – [Woman] I’m gonna help you
sort of find our question. – Awesome, who’s got a question? – [Woman] Do we have anybody? Oh, we’ve got lots of hands.
– Yeah. – [Woman] All right, we’ll
start out over there. – It’s the greatest
keynote I’ve ever given. Hey.
– Very interesting. Thank you very much.
– What’s your name? – [Roy] Oh, Roy Foster. – Roy. – [Roy] I’m curious with
your mindset right now where to take your marketing spin. – Yes. – [Roy] How do you see
that potentially shifting with repeal of net neutrality? – That’s a super great question. Roy, one thing, you can see I can peacock with the best of them. I hate to answer stuff that
I haven’t fully quantified. I’m spending a ton of
time of trying to play not only the short, look, guys like me and gals like me, there’s a lot to be said,
like screw you, the tollbooth, this is terrible. I’m a funny, it’s so funny, maybe I’m intense capitalism
because I was born in communism and I’m so fascinated by the countermove. Let’s say it plays through. What next? Cool, so the ISPs are this, but why can’t Facebook
and Google and Apple arbitrage that out by deploying all, great, everything gets overcharged, great. You have Verizon and they give you Yahoo, blistering fast for free,
but Google costs $50 a month. Something a lot of people
here have not quantified their head around that
is a very real statement, and I mean like this, right? Everybody’s like, with
little headline readings, like Matt Lauer and this and this, everybody’s paying
attention to so many things, you wake up and in 18 months, you’re paying $50 a month
for the right to use Google. That’s like, what the
hell just happened, right? But here’s what’s funny about the game. What happens next is
more interesting, right? As they start getting fat, the people that are getting
commoditized by them and hurt have the ability to arbitrage them out. And by the way, I’m so pumped, I’m so thrilled you
brought up that question. That’s my biggest fear here. There’s a lot of people
here who play in the ISP, net neutrality environment
in their business. They think they’ve got it locked up, until their customer’s out of business, until their customer’s
being squeezed so much by the innovators of Tesla
or Facebook or Amazon that they have to start
changing their business model, and they don’t want you
to make profit anymore. It’s not about is Walmart or
McDonald’s go out of business, is it that they are losing enough business that they don’t want you
to make a penny ever again. So what do I think? I think day trading attention is something I’d become committed to, which is I think about it
when it becomes the reality and I just do it immediately. I spend time trying to be
thoughtful about these things. You can’t predict a lot of things. I made a video nine months ago that said Instagram was in trouble
because Snapchat was exploding. Facebook’s much younger than people think. A week later, and they copied
everything of Snapchat, and they’re the disproportionate most important platform to market if you care about consumers
25 to 40 in North America. So I think it’s potentially
annoying, potentially dangerous, feels really not fun, but
there’s places that have it. You can look at what
Portugal’s market looks like, but I don’t think they’re
ready to pay 11 bucks a month for Facebook being the speed it is now versus it being free, but taking an hour. Do you know how mad everybody gets here when their internet is
100th of a second slower than what they’re accustomed to? Right? I mean so I think it’s a
very interesting tollbooth and I’m excited to watch it play out, but I don’t get crippled on what if. I’m more worried than everybody here’s wasting money right now, tomorrow. And that’s why when people
talk about VR and AR, or it’s changing or it’s
coming, I’m like, no, no no, what are you doing today? Where was your money, do you know you know what’s fun is not being at the mercy of sales people and their commissions and
structures and bonuses. Brand, have the leverage. Brand is the only leverage we have. Questions? We’ve got a gentlemen here. – Let’s go–
– Yeah. – To that same table.
– Okay, same table. How are you? – [Woman] Good, thank you. – [Gary] What’s your name? – I’m Annie.
– Annie. – [Annie] I have a question. How do you, can you hear me? – Yes. – [Annie] How do you translate taste? Which is key to what we do food and Ag. How do you translate that on the internet or through virtual reality
or whatever the format is? – The historic translator
of taste that over-indexes is called video. A human being articulates
through a visual and words what they are experiencing
and we consume it, right? None of this stuff is any
different than anything happens. The same thing that Julia
Childs did, that Emeril did, that many other things have been done is being done now by somebody on Instagram in a one-minute video. I think everything is translated
through three core things; Audio, video, and the written word. The end. How everybody consumes
information here is different, the historical upside is in video. It’s the biggest penetrator of our psyche. I would say video, but where and how much? You can make an $800,000
video that is a commercial on television on the Food Network that not a soul will watch, in my opinion. You can make a YouTube video in 2006 when nobody else was doing it and get a tremendous land grab. I think about attention like real estate. I want you to buy beachfront
property in Malibu 63 years ago, right? Not overpriced real estate on the Meatpacking District in Manhattan. And I think that’s what
the majority of people do because it’s tried and
true without understanding how overpriced it is. – [Woman] We have another
question over here. – Over there, great. Who’s got it? Let’s go.
– Down the center there. – Okay. How are you? – [Nick] Very well, that was a
quite frightening, thank you. Nick from Rabobank. Two things. One, why Facebook, why not
Instagram, whatever, Twitter? And also you talk a lot about attention, and we keep hearing
that the attention span of people is getting shorter and shorter so how do you maintain their attention? – So when I talk about Facebook, you can hold the mic for a second, ’cause this might be a follow-up, Facebook and Instagram,
owned by the same company. When I talk, it’s a nuance
of the business talk, I do want to talk Instagram. Facebook, because it’s scale. So the highest conversion selling stuff that I know in the world is 60
to 80 year olds on Facebook. Not conventional wisdom,
not the headlines you read, but as a practitioner,
there’s a lot of nuances to figuring out why it’s
been working for me. Number one, a 72 year old on Facebook goes through their
Facebook stream like this. (crowd laughing) A 17 year old goes through
that same stream like this. It’s just attention arbitrage, right? So Facebook, ’cause of its scale. Instagram’s on its way,
but Instagram plays 15 to let’s say 45, 50 on the coasts, it plays 15 to 35 in the middle, Facebook is 25 because
it’s not winning under– – [Nick] The minute I got on Facebook, my daughter got off it. – That’s exactly right. It’s classic cops and robbers, right? And now parents are getting on Instagram, and they’re looking elsewhere, and Snapchat more ’cause it disappeared. We’ve all been there. We’ve all locked our room, we all wanted a second phone line, we all understand that dynamic. That to me is like secondary fodder. I just want to know
where the attention is. Facebook is so ridiculously under-priced. Let me explain. You will pay seven dollars to
get in front of 1,000 people which 13 will actually see it, ’cause they’ll go through it, but you’re gonna pay $58 for
that same thing in four years. That’s all. I don’t know else to say. If you’ve ever run a
Google AdWords campaign, the word wine cost me five
cents a click one day, it now costs me $14 a click. Marketplaces are supply and demand, which means there’s
vulnerabilities in them. Attention spans, there’s a lot
of conversations around this. First of all, it’s old talk audacity. We love to say new people
are not as good as us because we’re getting
older and closer to the end and it’s our defense, right? We love to talk about the
Millennials’ entitlement. 90% of the people I know that
I grew up with in their 40s were lazy and entitled too. (crowd laughing and applauding) – [Nick] That’s just Americans, isn’t it? – Yeah.
(crowd laughing) You know it’s funny, there’s
a lot of truth to that, but that’s a hell of a
lot better than Europeans who aren’t even in the game. (crowd laughing and applauding) By the way, the Chinese
are gonna kill everybody because that’s the way you, by the way, you know
what’s crazy about China? They run their country the
way we run our businesses. Our businesses are
capitalistic with dictatorship. It’s really funny to
watch it all play out. Nonetheless, I’m not worried
about attention spans because I like when things are all equal. It’s back to net neutrality. As long as every other
person I’m competing with is dealing with the same
ramifications then I’m cool, right? And I think that’s the part
that’s making it so interesting. As the technologies advance, we get put into more of a
playing field that’s equal which takes away a lot of the advantages we had historically, and that’s the rub. Retail didn’t need to go out of business. We just need to do enough
more retail on e-commerce to break their whole model
’cause it lowered just enough, the sales, where the
infrastructure costs of real estate and all the things in the
real estate environment, fixtures and people broke the model, so you don’t need a lot
to stress the system. Attention spans are tremendous if you give people something
they want to watch. I see people watching 47
minute videos on Facebook and not watching six second videos. The quality of the content
is the differentiator, not the length. You want to pass it behind you? How are you? – I’m great and–
– Thank you. – [Man] And thank you. Some of the things that you
said, absolutely eye-opening. – [Gary] Like what? – [Man] So for example the concept like– – [Gary] No really, I’m
curious, what hit you? – [Man] The concept of
Facebook advertising or using Facebook or B2B– – It’s like, right?
– To me was brand new. – I get it.
– I’ve always thought about it as consumer-facing, it
used to be consumer-facing, but from a B2B standpoint, it was a little bit eye-opening
for me and hopefully– – And I have some great news. It’s for you and everybody
else in the environment. Most companies literally think it’s better to spend $47,000 on a
print ad in a B2B magazine that nobody opens then
spend $10,000 to test how Facebook could work for them. Utter audacity, nothing else. – [Man] So again, eye-opening for me. Also, thank you for inviting
us to ask very basic questions. So I’d actually appreciate
if you could elaborate a little bit more on an example
you gave of does your CEO– – Let’s talk about your business. Who are you trying to reach? – [Man] So we’re a food
and greeting company. – Okay.
– And so we have manufacturers of food products. For example, we have, we’re developing some
very special ingredients. We’d probably love to be able to develop some sort of Intel Inside type concept– – Love that, I understand. – [Man] We’re a middle market company, so our ability to spend
massive dollars to do that as Intel can is not there. – Yes. – [Man] But the
concept-defining strategies that can help us do that is fascinating. – And they didn’t have it either, right? When you have the ingredient that every consumer-facing
product is proud to put on the front of their package,
they’ll do it for you. Your problem is you need
to actually build a brand. You need to make the, how many people are aware of what happened
with the Dollar Shave Club? I assume a lot of you are, right? Raise your hands, I’m just
trying to get context. So Dollar Shave Club made
a video that went viral and sold their company
for one billion dollars in four years. There’s nothing else really there. They did it, but by the way, so did Nike with Just Do
It, and so did MasterCard for a 15 year period with Priceless. You make a video that we all get by it, Wendy’s had a moment in the 80s, it was called Where’s The Beef? It works. The fact that you could
actually make a three minute, 13 second video of a mom and a daughter and they have a healthier
life because of your product and the other part of
the three minute video showed if they had not had
your product, they wouldn’t, and that just strikes a chord, or the Ice Bucket Challenge, the fact that you can spend
$100,000 to make a video and another $50,000 to 100 to spend on ads against the potential demo
to create the groundswelling to then drive back to
give you the leverage with the consumer packaged good companies so that they come to you
to put the greeting in instead of you begging, whoever
asks gives up the leverage. I can’t believe we live in a
world where you have a chance for that $200,000 to have
Procter and Gamble and Unilever and Coca Cola actually reach out to you. That is mind-boggling. Now, I’m not here to sell fairy dust. 20 out of 21 of those efforts could lose, but four may be singles. Dollar Shave Club was a grand slam. Four of those videos maybe singles. 20 may be strikeouts, and then
you just wasted two million, this is practical, but
the fact that 10 of them can be double, singles, triples, and as we start getting
smarter about the creative that actually gets people to
watch, it’s an incredible time to be in business, you know? It is absolutely frightening,
like the gentleman said, but it’s also unbelievably incredible. You just can’t hold on to
the romance of the strategies and leverage that you had or
have or that you overpaid for just recently, it just
doesn’t work that way, that’s why people go out of business. So what I would do, if you’re
trying to be Intel Inside, you actually have to win consumer. So you have to make the emotional creative to get the Millennial mom
or the 50 year old male or whoever your target demo
is to actually start demanding or getting excited about this ingredient that will make them live. I’m super fascinated by cricket
protein for example, right? So I think I’m bullish on cricket protein, there’s just a lot there, it’s just a very easy
narrative for me to sell and everything you just heard, I just have to make people
excited about eating crickets. (crowd laughing) But you know what’s more
difficult than that? Convincing people 40 years
ago to pay for water, ’cause it was free. So, that. And while it’s four dollars to
get in front of 1,000 people and not 63, got it? That’s why I’m excited. That’s what this energy
is, because I’m so thrilled that 94% of this room is
gonna wake up in six years, read an article how the
years of 2013 to 2018 were the best years to build on Facebook, and all these big companies came out of it and I want them to remember
this talk and be super pissed they didn’t listen to me. (crowd laughing) I mean it, historically
correct, that’s my currency. – Thank you.
– You got it. – [Woman] Looks like we
have another hand down– – Yeah, right next to you. And let, right side, what up? (crowd laughing)
Let’s get going over there. Somebody’s got to step up for that side. – [Ken] Hi, Ken Zuckerberg. – Hey, Ken.
– Fascinating discussion. – [Gary] Thank you. – [Ken] Are we, since
this room has a lot of sort of businesses that are traditional, are we at the end of the
day talking about disruption of distribution, the middleman? – Yes, yes we are.
– I mean that’s a key message I got here, and I guess
if you could explain when we have people that are
manufacturing product, selling a traditional
channel to a consumer, obviously a lot of B2B, how do you help the CEOs
and the senior managements embrace this in a way that they can then have the action rate at
95%, not 4% or 3% then? – With the success of the creative? – Yeah.
– You can’t. Which is what’s so difficult, right? Creative is the variable of
success and it’s very difficult. I’ve been spending the last seven years in trying to close the gap. The way you can do it is
by driving down the cost of the creative. If you have $500,000 to spend
and you only get one chance to try, you’ll lose, and
so what I’ve been doing is building over the last seven years the ability to give you
11 at-bats for that price at the same quality of just one. – [Ken] So your thinking
is 10 standard deviations quicker than most of us. I mean, it’s inspiring, it’s terrific. – Thank you. – [Ken] When you bring it back to– – Reality? – [Ken] Reality, think
about a chemicals company, think about an ingredients company, how do you make that initial, how do you make that initial step? And I–
– It’s very simple. It’s a religious step, right? Or a functional step. To your point, it’s what
I’ve been fascinated by, getting into bigger business environments, coming from entrepreneurship
in Silicon Valley through radical things like firing the CEO or scaring them or inspiring them. You can’t play in the middle. Or what really needs to happen, which is changing the
way we incentivize them. I can’t blame you, I used to
be so mad at these people, like, “You are such jerks, “you just care about the
stock price being good “in three years so when you leave, “you buy a yacht, you
piece of crap”, right? That’s what I thought. I still weirdly think that,
but I’m way more empathetic that the structure of the whole game has put you in that position. But here’s the really
important part of the question. I have unbelievable empathy, but what I try to remind
people on a one-to-one who’ve really gotten to know
me, or in this environment is it’s going to happen, it’s
happened, it’s happening, so why I’m so fascinated about marketing is ’cause I know a lot of people here, if they spend any money on marketing are putting it directly in the garbage. And so by taking it out of the garbage and whether it’s a $100,000 or $3 million, spending that right starts
giving people in here the confidence of wait a
minute, why did that work? And then you start building on it. We’ve gone from places where
Ruby Tuesdays and Mondelez where it went from being 1%
of the way they did things to 40%, not ’cause they
liked me or I was charismatic or I’m clever, because of results. So you try every different angle. I’ve been in this B2B environment. 91% of my clients don’t do it
the way that I want them to. I’m trying to be historically
correct, and more importantly, my entire thesis as to why I’m buying, I’m building VaynerMedia to become a consumer packaged goods holding company. I want to build the
next Procter and Gamble on the back of building the next WPP, and I went in because I thought 3G was gonna be over compensated and heralded in the last decade,
which clearly, they have, but you can only fire so many people. You have to build top-line
revenue and brand. And so nobody’s ever built the complement, I am building the complement
for ever Carlisle and Bain and Carl Icahn and Bill Ackman on earth, I’m in the process of it,
which is why I can see this. I’m being very patient,
I’m eating my own dog food that I’m trying to get you to, which is run a marathon, not a sprint, because you don’t realize the sprint game is not even gonna be in, it’s not gonna be in the Olympics anymore. Do you understand? That’s the problem. And so how do you do it? You suffocate them, right? I mean it. You suffocate the decision
maker, through sheer will, through frightening, through inspiring, through data, I don’t know, but you have the actual conversation. Let’s get that dude
all the way over there. He went far right.
– Oh yeah. Right side of the room.
– Love it. It’s binary, right? I can give you a million new, it’s binary, they either decide to do it or not, but marketing is the most movable thing. (crowd member speaking quietly) I’ll repeat it for everybody. (crowd member speaking quietly) My brother, I invested, I
bought Mark’s parents shares in 2008 on a discount on a
valuation that was $10 billion, and I put every dollar
I had in liquid into it. My financial advisor, my
parents, my contemporaries, my mentors, they shit on me, right? Next, it went public. All my friends because I was
an early investor and advocate, all my friends that were
the top 100 employees there, 90% of them sold 90% of
their holdings between 12, excuse me, 19 and $40 a share,
depending on their timing. Six month, you know? I bought it in 2008, I
haven’t sold one share. I bought Twitter, back to your question, I never fully finished
answering it, why not Twitter? I bought Twitter at the same time. A $47,000 investment that
was worth $16 million to me, and I sold 90% of my holding
at $44, it’s $20 now, because I just day trade attention. I’m not emotional. The end. You want to make a lot of money? Put all your liquid
into Facebook and Amazon that you can never touch. As long as Jeff Bezos and
Mark Zuckerberg are alive and running it, you will win. Guys, this hasn’t started yet. The shrug is ’cause it hasn’t started. I love how people think disruption, everything you see being
disrupted right now, tier three auto. How does a car dealership
survive in the 40-year macro when Tesla goes direct to consumer? Because the government and the
laws are gonna protect you? For how long? It’s just naivete and
short-term thinking at scale. – [Man] Thanks, it’s been
eye-opening for me as well. – [Gary] Thank you. – [Man] You’ve talked a lot
about day trading attention between B2B and B2C, but as a bank, we’re also sort of a
middleman, to a certain extent. – [Gary] You’re in deep shit too. (crowd laughing)
– So, apart from hosting you at our conference and being the keynote
speaker, what can we do? – I think you need to look
things in the eye, right? You need to actually not say, and you can’t be in
conferences like this and say, in a more conservative
environment and say, “Over the next 10 years
Amazon or Venmo or Blockchain “are disruptive or
potentially disruptive”, it’s really no different, it’s gonna be the same answer
for everybody at that scale. Banks have to realize
what their value prop is and how quickly it’s being commoditized. And it’s happening fast, right? So I think it’s about creating
new products and services. I think it’s about M and A activity and grossly overpaying for things that look like you’re overpaying for them. I was on CNN the day after
Facebook bought Instagram. They paid a billion dollars. Instagram was 551 days
old and Piers Morgan goes, “Okay Gary Vee, what do you think?” And I go, “They stole it.” I get out of the studio in
Columbus Circle and 10,000 people on Twitter tell me I’m an idiot because they’d never heard of it, and a billion dollars sure
sounds like a lot of money. By the way, side note, I
favorited every one of them and two years later on a
trip to Turks and Caicos, I went back and replied to all of them and said, “Now what?” (crowd laughing) I think the biggest thing the
biggest companies here can do is grossly overpay for the future, but they have to be right. But that’s what they need to do. You need to buy up other services if you believe what I believe. And I could be wrong,
I’ve been wrong before, but the core of what a
bank does at its essence is being disrupted very quickly. You do not put Blockchain back in the bag. It may not happen,
Bitcoin could go to zero. That’s irrelevant. You have an entire
generation that understands the decentralization of us
interacting with each other. When you understand that
you are gonna close a house on Ethereum, between me and
you, and we will accept that, it goes into a totally different place. I think people are very naive. They don’t understand
how religion happened. That’s what I think. Sir. Yes. – [Man] Yes, so I’m
gonna almond processor– – [Gary] Oh, I’m sorry,
where’s this coming from? – Right here.
– Where? – In the–
– Oh, hey sorry. Okay, we’ll do you quickly as well then we’ll get out of here,
I don’t want to run too late. – [Man] We’re an almond processing company that exports to 70 different countries. Do you expect Amazon to accept Bitcoin and how will that affect the marketplace? – I believe cryptocurrencies
crossed over the chasm. I expect China, Russia and America to have a whole lot of say on this issue and I don’t know how the
citizens in our world will react to it. So I don’t know. You know why I love what I do up here? I don’t guess. Everything you’ve heard so far is fact. You just don’t see it. That’s me guessing. My intuition is Jeff
Bezos wants to dominate at such a scale, he has such internal ambition for legacy that he’ll go as hard
and as fast as he can at disrupting everybody as long as the governments allow him to. But you know this by playing in 70, European DNA versus US DNA
versus China, you gotta, you’re gonna have fragmentation at scale. Just like you’ve seen
from Google and Facebook, everybody create closed gardens. What do you think America’s
trying to do right now? And you’re gonna see
some reactions to that, so we have to figure that out. – Thank you.
– Thank you. Sir? – [Man] You talked about
the importance of brand. We’ve seen brands that were
icons that have tarnished and new brands come out of nowhere. What are the most
important values in a brand that you look for or see? – The biggest reason big
brands get tarnished, AKA, irrelevant, is ’cause they take money and put it directly in the garbage, right? The reason the biggest
brands are losing right now is ’cause they think
running television ads is worth their 70% of the
allocation of their money. The end. This is historical. You want to really learn
something if you’re a nerd? Go look what happened in
the late 40s and early 50s when we transitioned from
a primary radio society to a primary television society. The biggest brands in
the world died, right? Because they went to the club with the guy that sold him radio. Misjudging where people
are paying attention, this keynote has content, right? Whether you like this or
not, this was content. If nobody was in this hall right now, it would have been a bad use of my time. That’s how brands lose. And there’s another part. They become vulnerable to the person that’s closest to the consumer. In 1982, the biggest supermarkets and super stores in this country basically got zero trade dollars from the biggest brands in the world. And Pillsbury and Kellogg’s
and everybody else was able to spend all
their money on marketing. As Walmart and Albertsons
and Publix got smarter and started making people
pay for shelf space, support their internal ad
networks and everything else, they started taking money
out of the suppliers and putting it into their own pockets. And then it became a drug, because it was great for short-term sales, and then they took that drug money and started creating private labels and commoditized the biggest
brands out of the world, while then the biggest brands in the world still spent money on television because the biggest media
companies in the world push television down their throat with bullshit metrics
from Nielsen’s and others because that’s where the margin is for the biggest holding
companies in the media world, leaving brands like Pillsbury Doughboy and Tony the Tiger left for dead. Got it? (crowd laughing) Thank you.
(crowd applauding) Thank you. Let’s end it with this. Who are you sending this keynote to? Leave a comment in the
section, and subscribe. (uptempo music)

Only registered users can comment.

  1. I was never there before the time period of the internet. Despite not being exposed to it until about the age of ten, I never realized how important it is to not underestimate a product just because it does not seem that powerful at the moment and did not realize the mistake that companies made by ignoring it. Now it's starting to happen to TV. With the internet, why wait for a specific time to watch something when one can watch it right away online plus even more free sources of creativity. However, that's a privilege now damaged now that Net Neutrality laws are being passed. I'm still young and stupid and therefore believe that this offers more room for a grand invention to take the lead of the most used product ever.

    I'm starting to look at VR. Just a while ago, I was confused about how something like VR could be a popular product with it's basic graphics and limited controls, but now I wont shun it's potential. With more and more gadgets to be invented, this is something that very well be the next big thing. Don't really have any money, but I DO have a shit ton of time to work with. So hey, I might as well focus on gaining a skill set that might benefit me in a VR ruled world.
    XD

  2. I've been consuming your content for a couple years now and haven't had any vid o of yours hit home the way this keynote did. Great insight and a punch in the gut for sure. This literally will change our internal strategy in 2018! Keep up the good work Gary!

  3. I watch all of your content Gary and your last point about being vulnerable to the people closest to the consumer is fantastic. It's the first time I've heard you speak of it and really makes you respect what Walmart and Target have done to build their brand. Appreciate all the fire!

  4. keynote just sent (via whatsapp) from a cowboy drug dealer (cattle vaccine rep) to a Mexican programmer (college buddies) in Silicon Valley. Full circle i'd say.

  5. Hi Gary, I'm sending it to no one because I've already sent your name and my endorsement to anyone I can enough about to make their lives better. I may send it to other's but right now they're not ready and wouldn't be receptive to it for any number of dogmatic reasons.

  6. This was such an amazing keynote Gary! But wow you smoked that last part of your speech when you talked about how Walmart and stores alike gained so much leverage by starting to leverage the brands they kept in there stores who bought shelf space, then started private labeling their own products, etc. That explanation had me fired up. You rock man.

  7. What about relationships?? The world would be a very lonely place if everyone stayed in their own little pod 20 hours a day! Not even mentioning the health side effects of no physical connection…

  8. Thanks for the inspiration Gary, I'll be starting a podcast in 2018 to help build my personal brand. I got a question last night from a friend that saw my SnapChat and she asked, "How do you stay so regimented in your routine?" How would you answer this question?

  9. Things have changed… The old Billboard, Banner ad, tv commercial, radio commercial ads are JOKES.. Social media is where peoples faces are GLUED. Its why you tubers and social media E-Famous celebs are making sooo much money. It all makes sense. So grab on to it and make it yours!

  10. Gary, this is by far your best material to date! So relevant, like a current state of the union… well done! After talks like this, I have no doubt that you'll go down as one of the best business minds of all time! Thankful for you documenting the journey! It helps people like me get more insight into the minds of a business genius! #StudyGreatness

  11. 41,000 Views is akin to highway robbery! I’m going to watch this again and again! Better yet and specifically to answer “who I’m going send this to” I’m sending it to ALL my B to B customers who have joined me in Vlogging to the end consumers who ultimately purchase the products I produce as a Manufacturer. I’m LOVING coaching them on creating relevant content that consumers want to consume! THANK YOU!!!

  12. I'm sending episode 361 to my mom, who is a marketing director in the radio industry. I want to make sure I'm doing the same thing you're doing with your father: long term legacy and business/brand stability

  13. I'm sending this to my friend Mason, cuz we are studying your perspective of disruptive services and technology. Mainly we are using it for investing in Blockchain so when the banker guy @56min asked you what he should do, he opened the bag for the following question on how you see Ethereium could be effective in our daily lives. Thank you Gary, fucking love you man. VaynerNation

  14. Always dropping jewels! Thanks so much Gary. More than appreciative for your content. The kind of brut common sense our political leaders need.

  15. Have you heard of google keyboard? You might want to consider switching to it if you havent already if youre still tapping instead of swiping/gliding your finger, this comment was not typed by google keyboard because it wont load 😛

  16. I've made a decent amount on one of my facebook pages where i sell second hand products, been using influencer marketing to boost the page's overall popularity, and so far it's going swell, if you're wondering what i'm using, it's called phlanx

  17. Great Key Note Gary, I invested a few thousand in AMZN a couple years ago and I'm still holding. I think you're right though FB or AMZN and you really can't go wrong.

  18. Yeah, this was a good one! Passed this along to my father-in-law. He dug it and as Pres. of a company he shared it with his staff and sales crew!

  19. "In the next 5 to 10 years,
    it will be impossible for you
    not to have an Editor-In-Chief of your business".

    Cannot agree more.

  20. Anyone who has followers is an influencer. Gary is right about going Deep and Not Wide. There is a lot of money to be made after the first sale. https://www.youtube.com/watch?v=p9x94WWhIDY

  21. I think influencer marketing is great, it can grow your business with a very high ROI. As I mentioned in a video, "49% of consumers rely on product recommendations shared by influencers for their purchases".

    That metric alone should make you at least consider Influencer Marketing.

  22. here's a good microinfluencer guide that includes what microinfluencers in different industries charge!

    https://www.envisionhorizons.com/single-post/2018/06/11/Microinfluencer-Guide-Instagram-Youtube

  23. Voice is going to be huge when the accuracy is high enough. I have been tracking voice since the 90s, and hasn't been that great. When it happens, it will happen fast and reshape everything.

  24. Second time I’m listening to this keynote and probably not the last time. There’s so much raw data to process here and even though I didn’t understand half of it, every time I listen I just catch something “new”! Some great nuggets of wisdom on the top of my head: The internet is the middle man; The quality of the content is the differentiator not the length; and many more! All that to say, very inspiring and informative talk. Many thanks.

  25. FB's biggest mistake is the BS censoring. That's alienating half of the country and has most likely pissed off over three quarters just on principles. It's not rocket science. If they authentically showed love for all, they'd simply kill but this mistrust is more than just a bad move.

  26. Influencer marketing is definitely a great strategy for growth and reaching larger audience. Only problem is the ever increasing number of fake influencers. Analytics like Influencer Auditor to basically "audit" the influencer is definitely helpful

  27. Gary has a lot of repetitive content. Although i am extremely new to this space and i respect him greatly, its becoming non-relatable.

  28. Why he doesn’t mention a company which gonna do competitions google ad free with no need to ay for ads then or eBay without fees ?

  29. Sending to: THE WHO;E FUCKING WORLD!!! consuming you on the 3rd of January 2019 and yet this information is still very relative! jam packed with so many gold nuggets! and for fucking free you negative, never fucking made shit in your life keyboard warriors mother fuckers!!!! the admission price for this info today? my attention. Thank You, Stay blessed brother FMC

  30. Been using your tips for my influencer marketing venture and it's been bringing great results! There are minor issues though, fake influencers. I'm currently using influencer auditor just to be sure.

  31. This one went straight to my CEO, gotta act on this. It's easy to praise you Mr.V sitting comfortably at the screen: 3 things one can watch endlessly – fire burn, water run, and others work. As a Marketing Director of a VR company, I'm pulling my marketing expense out of garbage today.Thank you!

  32. That's why you should always make it a habit to audit your influencers via influencer auditor to ensure you have high quality, legitimate influencers. The better they are the better the returns, but don't get scammed by fake ones, hence why i recommended the use of auditing platforms

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