Serial entrepreneur Gary Vaynerchuk says companies should innovate in this time of crisis by thinking outside of the current strategies and concepts that have always been available.
Mary Stevens | CNBC
As more parts of the country get vaccinated and stores continue to reopen under fewer Covid restrictions, small business owners are poised to see sales growth this summer. Amid intensifying consumer dollar competition, the lion’s share of spending will go to entrepreneurs who know how to effectively create content on social media, according to serial entrepreneur and media mogul Gary Vaynerchuk. According to Gary Vee, the key to a smart social media advertising strategy is thinking more like a publisher than a salesperson.
“The reason so many companies struggle with social media is because they post content that is in their best interests rather than the person on the other side,” Vaynerchuk said at the CNBC Small Business Playbook’s virtual event on Tuesday. “Try to publish content that gets people across instead of selling it. You become more of a publisher [who’s focused on] editorially than you do a salesperson. This simple rule is probably the best I’ve ever seen to succeed, “VaynerMedia CEO told CNBC’s Seema Mody.
In particular, he mentions Facebook, Instagram and TikTok as “prerequisites” for small businesses that want to secure their advertising spending. “It’s not just about bio, it’s advertising too. You have to run media on these three platforms in a demo that comes into your shop or uses your service,” said Vaynerchuk, adding that small businesses should spend as much as possible possible “on these platforms.
“You have to test and learn, test and learn … then find an ad that works for your business, that’s ROI [return on investment] positive, and you pour lighter liquid on it. It’s like your health is getting better. You exercise and you eat healthy. You eat healthily and exercise. And you do it every day. The formula is simple – it is difficult to execute. “
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Vaynerchuk’s advice comes after a year of small business shutdowns in the US and around the world. Even amid the improving economic conditions and vaccination rates in the US, there has been a sustained wave of bankruptcies that hit near peak again in some regions in early 2021. This comes from a report by Facebook and the Small Business Roundtable published in April and based on data through February. According to CNBC | Q2 now, more small business owners in the US say business conditions are good Monkey Small Business Survey, which has seen a slight increase in business owner confidence.
“Everything in business is difficult. It is difficult to find a good campaign, it is difficult to find good people, it is difficult to do a lot of things,” said Vaynerchuk, an early investor in companies like Twitter, Uber, Snap and Coinbase. said of the current landscape. “But if you publish enough good content, you will attract an audience because the algorithms or the attention are there for you for free.”