76 Minutes on How to Get Your End Consumer to Pay Attention | DailyVee 373

This Post: 76 Minutes on How to Get Your End Consumer to Pay Attention | DailyVee 373

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this is a keynote I gave in Stockholm crushed the crowd because that’s just how I do in Stockholm they call it a syndrome what is the Stockholm Syndrome can somebody Google it while I because I’m using this intro anyway voice baby voice you guys are my hostages yeah I get it Stockholm Syndrome wow that’s cool watch his keynote tell me what you think [Music] hey Stockholm so I’m very excited to be here want to talk about the one thing that I’m positive that we are all connected by I think one of the challenges that I have as somebody who likes to do speeches is that I’m obsessed with being consumer-centric right at the end of the day I think every success I have comes far more from humility and listening than it does for my big mouth and all my talking and things of that nature and one of the keys that I think a lot about when I speak is getting a sense of who’s in the audience and reverse-engineering obviously I can’t give the same speech to a roomful of 22 year old founders that are trying to build machine learning companies as I can to a bunch of 16 year olds who are trading cryptocurrency in the same way that I can’t to a 48 year old executive fortune 500 CMO crowd and so I’m always kind of weaving I have a thesis it’s very simple it’s right there iDate trade attention it is going to be the core of what I want to talk to you about because it’s the only thing that if you’re in here as an executive or b2b how many people here are in b2b the b2b space raise your hands high great b2c great how many people here are entrepreneurs and own their own business raise your hand great how many don’t and they work somewhere great 50 50 50 50 right so I think what’s very scary about that in my ambition that everybody here enjoys the talk is that there’s a lot of nuances and practicalities that play out very differently but the one thing that 100% connects every single person in this room is the need to get somebody’s attention before they tell them how good their thing is whether you’re sitting here and very altruistic and are trying to raise money for a non-profit or if you want to sell a bottle of wine it’s all the same game which is very simply where is the attention how do you then communicate in that environment contextually to the attention and then can you create the output that you’re looking for I spend a lot of time in this I’ve spent a lot of time in this whole life when I was six years old and moved to Edison New Jersey for a lot of you that don’t know me I was born in the Soviet Union immigrated to the United States when I was three lived a very humble life studio apartment seven family members you know spent my first 18 years taking one family vacation you know basically after I was 11 or 12 years old had to buy everything for myself you know very very fortunate to be honest taught me really had to get mine and taught me a lot of the things that have made me successful but the interesting thing was I was an entrepreneur right from the beginning I’m 42 years old and in America you know good grades was the only way somebody was judged in the 80s and 90s and I did not have good grades and so for a long period of my time I was not winning I was a losing player a lot of my friends parents looked down on me because their kids got A’s and I got apps and I used to sit there and look at them when they would make fun of me this is the parents not making fun of me in a mean way but they would make a slide comments and I would sit there and say don’t you realize that your straight a kid is gonna work for me one day and I said it’s so basic anyway when I was seven years old and started my first kind of business six seven years old it was 11 8 stands which is very cliche in the United States but I took a very different approach I had four or five of them because I commenced manipulated my friends to stand behind them all day in the summer and sell lemonade and what I did was I walked up and down the streets of New Jersey and I would sit and try to figure out which tree and which post and which sign I could put my signs on and I did that by literally sitting on the ground and watching cars drive by for three to four hours in the middle of the summer this is what came natural to me it came natural to me DNA that I was trying to follow your eyes while you were driving and try to figure out was it better to be put here we’re here or up there and that’s basically been the story of my life today today I do that I try to figure out when are you gonna and time on Instagram or snapchat or Pinterest or LinkedIn how soon is it before you all interact with an Alexa or a Google home device to get information or buy things where is your attention in a ultra stat kind of future world of AR and VR and what is it about machine learning what are we doing where are we going what happens to restaurants with self-driving cars if we’re gonna eat in there how can i story tell to you when you’re driving today I story tell to you through voice right because when you’re driving it’s passive you can consume it how does that change why is while everybody’s obsessed with video consumption I’m going and spending all my time on audio because I know actually watch this this may be very interesting for this crowd how many people here are fans of my content and consume my content and don’t raise your hand because you’re trying to be nice just if you do raise your hands all right first of all that sucks alright one more time hands up who do great up you how many of you in the last year or two have started listening more to the podcast and watching a little less of the video raise your hands that to me is the most interesting thing thank you that to me is the most interesting thing happening right now which is I think we’re about to live through the explosion of voice and I’ll get to that in a minute but I want to go back because there’s so many people in the b2b space what day trading attention means is that everything that you’re gonna hear coming out of my mouth around voice Instagram influencers Facebook in this moment has the potential to not matter tomorrow I doubt it cuz it usually takes a little more time but literally 15 months ago I made a video saying that Instagram was in trouble that snapchat was growing very quickly and starting to penetrate thirty-year-olds that Facebook was much bigger than people realized at a younger age and that I did not see a place for Instagram to play as snapchat started winning that generation literally a month later and I didn’t know this they came out with all the features that snapchat has and here we are 15 months later but basically after I made the video it was literally a hundred days later that Instagram became the most important platform of attention and that’s why I call it day trading where I used to call it if you came to a talk five years ago that slide would have said market in the year that you live in right my thesis is that most of you especially in the b2b space are wasting an ungodly amount of time and money and energy on places where people are not paying attention because of history and tradition and that’s how you’ve always done it and that your underspending where the retention actually is and that’s where the arbitrage is that’s the opportunity that is where I and people that trade the way I do make their wealth build their businesses but I had to change it from marketing in the year that you live in to day trading attention because everything’s happening so fast it’s it’s unbelievable to me how big of a deal this is and how quickly it’s changing but here are some of the frameworks I understand for everybody in this room if you do not produce content and story tell on this device you are becoming unbelievably irrelevant by the minute if you do not understand how to take your brochure or your booth at a trade conference or your print ad in a catalog and convert it to being relevant on here you are becoming increasingly irrelevant the biggest mistake that this room is gonna make is they’re gonna say things like but my 59 year old target audience isn’t living on there and they will make grave business mistakes over the next three to four years based on their romantic point of view on technology instead of the reality of what’s actually happening my friends I think in only practicality I was brought up in an environment where eventually after having a successful baseball card business that I was making three to four thousand dollars a weekend in I was dragged into my dad’s liquor store and had to help build that family business I built my dad’s business from a three to a sixty million dollar business in a very short period of time on the back of making every penny work like a dollar my dad’s business was doing three point seven million dollars in sales on ten percent gross profit which means we had three hundred seventy thousand dollars before expenses and I built that business from that’s based 260 million in five years with no ma no VC’s because what I did was I date traded attention in 1996 to 2001 that meant two big bets that I made one was email how many people here have done email marketing in their careers raise your hands please raise them hi I want to get a sense great so you’ll love this in 1996 I had an email newsletter that had 91 percent open rates it had 91 percent open rates not because it was so incredible what I was writing in there I was writing by this wine click here it was incredible because nobody was doing email marketing in 1996 it was a new phenomenon how many people here had email in 1998 raise your hands great so for the youngsters here you’re about to learn something cuz most of the stuff you’re going to know in 1998 youngsters this is how email happened somebody would send an email and us old folk we would open and read every single fucking email the supply and demand of attention it was a new medium and all of us treated email the way we traded mail you had to kind of properly look at it we have now no longer do that we now care so much about our time that the reason we don’t unsubscribe from newsletters that we don’t read anymore is because it takes longer to unsubscribe than it does to just delete it is time arbitrage it is attention and this is how we play the second bet I made happened a little bit later you know when I started winelibrary.com Google didn’t exist so it’s just fascinating to think about very much the themes of the gentleman right before me about how early this is how much we don’t know that’s how I think about marketing you know Google didn’t exist for most of this room when we started our careers the internet didn’t exist for most of the people in this room so I’ve lived a life where everything was a fad not just snapchat the whole fucking internet was a fad when I started my career and so what’s fascinating to me is the next bet I made was Google AdWords Google AdWords had come out and for five cents a click before they raised the minimum to and sense I was buying up every wine term and I was able to buy words like wine and Cabernet and champagne for five and ten cents a click and very honestly it is one of the best things I ever did in my career and it is no question one of the worst things I ever did in my career I bet very big and it worked very great but I was young and I was doing everything Direct Mail print radio television I was branding I was marketing but I understand on Google AdWords I had I always like to say I had the best hand in poker and I didn’t go all-in it was working but I didn’t understand at that point in my career how much it was working and when I hear like somebody introduced me and say from 3 to 60 million dollars and it’s impressive and I’m glad and I love it it’s my family it matters to me but every time I hear it I say to myself it should have been 200 and I’ll tell you it’s why I stand here in front of you and I want to use that as a segue to why and I want them the light is powerful but I want to see your faces I need everybody to understand this I don’t care if you’re selling to 17 farmers a 1 million dollar you know aggregation system in a b2b environment every person in this room has to understand how unbelievably underpriced and how unbelievably powerful Facebook advertising is right now right this second the scalable underpriced attention in our society and by the way if you are doing business in the Nordics it’s an even better deal than it is in the US because it’s a marketplace and it only reacts I love you guys for that it only reacts to how much money you guys pump into the system when BMW and SAS and coca-cola actually wake up and understand how underpriced Facebook’s ads are the price of Facebook ads is going to skyrocket and you will regret like I do in not spending money in it today there is an unbelievable amount of people in this room who have opinions on how Facebook works for their business without ever running a Facebook ad we are making headline reading and emotional decisions about the current state of marketing and opportunity we are not relying enough on practitioners I have watched people buy hundred million dollar contracts from one Facebook ad I’ve seen it not I guessed it I heard about it we work with the GES and the S APs and the biggest brands in the world we are grossly under estimating it’s amazing to me that people sit around and talk about Trump and brexit and Arab Spring and these macro unbelievable historic cultural shifts in our society and then an hour later when they talk about their little business their hundred million dollar 500 million dollar one billion dollar 10 billion dollar little business and they don’t think Facebook can affect it it is unbelievable naivete and that and that’s at best at worst you were being grossly negligent in how you’re running your business out of the laziness to not become educated on what is actually happening in our game so I’m fascinated by this I think this is the great opportunity this is a generational situation if you look at the history of marketing television radio the internet now the social layer on top of the internet every time there is a huge shift of attention somewhere new enormous wealth is made an enormous wealth is lost and this my friends is the biggest of them all the amount of attention shifting is extraordinary but I want you to hear something I do not believe that this is about traditional media versus digital media for example I think one of the great wastes of money in the world is buying programmatic banner ads and pre rolls across the web for $5 CPMs because it’s cheap I also believe in America for example that the Superbowl ad that cost five point five million dollars for thirty seconds is by far the best deal in marketing because everybody in America will see yet and you get unbelievable awareness so for me I’m fascinated by the nuances I think you can waste all your money on Facebook if you don’t know how to use it my friends what’s the ROI of a piano what’s the ROI of a piano let me help you for Gary Vaynerchuk zero I can’t play for shit but for Billy Joel and Elton John the ROI was a billions of dollars the ROI of a basketball is zero for me for LeBron a billion this is not about does this stuff work this is about do you know what to do with it and the reality is you don’t know what to do with it the far majority of people in here have never been practitioners of the modern-day storytelling and media planning and execution for a business result and that is where the opportunity is I’m fascinated by how big this actually is I am I laugh when people don’t understand how much change is happening and so this rant this passion I start this keynote with is very simple it is my hope that one one one person in this room decides to go back home and run their business properly and it’s not very complicated it’s about becoming educated education matters just the education of the day always matters more the fact that so many of you have not spent 30 hours which is a lot but very little based on the ambitions that you have for yourself or your organizations that you’ve not spent 30 hours to either read on Google or watch videos on YouTube to how to run an Instagram ad how to place a snapchat filter how to plan Facebook media and you think that even if you’ve done it you’ve outsourced it to a 25 year old who gets it is fascinating to me who’s the biggest advertiser on Google in the first six years of Google Amazon Amazon was the biggest advertiser on Google in the first year six years of Google AdWords it is not a coincidence that Amazon is one of the biggest companies in the world they used the underpriced attention to build their company who was the biggest advertiser of television in the prime of the 1970s and 80s when television was at scale and underpriced Proctor and Gamble it is not a coincidence that Tide and Dove and Procter & Gamble became the biggest consumer packaged goods products in the world this is very basic what were the biggest sports in America in the 1940s and 50s baseball horse-racing and boxing who also spent the most time distributing content on radio what was the biggest sports in the last 20 years in America the NFL the biggest spender the biggest executor of content in the medium the sport matched the content there’s two young men right there doing tricks with soccer balls on Instagram and YouTube it’s because that content and that formula works on that platform and they didn’t have to get signed by somebody to be able to make that content they just went direct to the consumer and then Adidas the biggest brand in the world in that sport comes to them and wants to do business with them I am fascinated by the naivete / audacity of the 99% of people in the business world today in their disrespect for social media why don’t I help you guys let me help you with something the word social media is the problem you know that right the problem here is a branding problem social media has a branding problem when I say the word social media for a lot of executives in this room especially you b2b people that is a nuance that is an sprinkle that is a nice-to-have that is a it’s gonna be here one day but doesn’t matter to me when I hear the word social media I think very simply I think this is the remote control of our society and I know that 50% of every minute spent by human beings on earth zero to a hundred years old is spent on a social media site fifty percent I hear social media my brain says the current state of the internet and I have a funny feeling that you would have a harder time betting against the current state of the internet for your business than social media so now I implore you and my hope and dream is this audience starts to think about this just a little bit differently not because I’m passionate and I’m going hard but because there are truths and what I’m saying and you know them and you feel them and you also know that you can’t call the bluff one way or the other meaning I’m a big fan of a be testing if you believe that your print your radio your Google Ads your sponsorships your booths at events are better than producing videos that people actually want to watch on Facebook and then retargeting them and putting them into a sales funnel and then closing them well then you should test them to me the fascination is how anybody in 2018 is not testing at scale these phenomenons and so I’m trying to put pressure on the collective system really to be very frank and I hope everybody understands this none of you are my clients you guys aren’t my brothers and sisters I’m about to leave Stockholm very soon and go back to New York I don’t give a shit if you do anything I’m talking about I really don’t there’s really only two agendas I have here number one Tyler’s filming it and in four years when CPM costs on Facebook are thirty and forty dollars I’m just gonna post a video clip of this moment and it’s gonna say I told you so number two which has been much more fruitful for me is that when I do this and I talk this way which is practical not in Phatak not passionate practical I’m talking about what’s actually happening now and everybody’s acting and executing spending money and energy like seven years ago this is not futuristic talk this is today I can talk to you about four to reality and AR and machine learning and voice all day long that’s not practical for anybody in here but selling a contract in a construction company on Facebook which seems extremely foreign to the collective is happening every day for the two or three practitioners of this skill in that platform and it’s converting a hell of a lot better than your direct mail and all the other shit you’re spending money and energy on period but you don’t know that cuz you haven’t tested it I have my run Direct Mail and Facebook for Wine Library I run direct mail and Facebook for all my SAS products that I’m an investor in I look at this stuff every day and so I say this to have it on the record and number two it isn’t an amazing feeling when I fly home I will get an email that says four and a half years ago I was in Alabama I heard your talk and I own this and I did this and here’s my business now I’m looking to get my high from an email that says you came to Stockholm in late 2017 I didn’t even know who you were when you went on stage but you yelled at me so aggressively I said fuck it I’ll try it and then this happened and so that’s where I’m at mentally I’m excited I think the thing that you have to hear for me is a couple more things before we get into Q&A and please that are we using the app here I assume we are so please if you’ve got what I would implore right now and then I’ll go and rest my talk is if you have a basic social media digital media marketing you know branding 101 question to ask it because this is the environment to do it right because you can see this theoretical talk on YouTube that we’re here together now so if you have a very direct question I am a lawyer how the hell do I use Facebook to get more like please ask right now take out your app and start asking questions while I keep going because I the QA part that’s coming soon is is the part here’s the part that’s tricky I’m right on the framework of where the attention is the problem is is if you go home and spend $5,000 on Facebook ads the creative is the variable of your success the picture the video the words you write in that post are the difference between zero sales and a thousand sales zero dollars in donations and a million dollars in donations my vulnerability my kryptonite to my thesis is the creative I have your attention right now this will be no different than Facebook right this framework of the event we’re in right now I have your attention this is a talk you came to listen you’re here you’re all paying attention ish I see a couple of you on your phone keep doing your thing it’s more important but if the content of my speech is not good and not interesting I’ve wasted my opportunity with my creative to create the event that I’m looking for right so the thing that I’m very passionate about is please understand what is actually happening in this device and here’s what’s happening this is a place where math and data and science mash into art and creativity and equally both of them have to be respected the short-term financial businesses running here care about math too much the overly long term and ideological and artistic people in this room are going to over here and not practical about the math the balance of the two is everything and the platform of Facebook and likes and these are stream mentality sites that have our attention right now Instagram and things that nature is incredibly important to respect both for example talking about stream dynamics Twitter because of the nature of the context is overpriced ads because the ad prices have a floor and they’re not converting as well and the attention on Twitter is very different than it is on Facebook and Instagram thus making the inventory overpriced in my opinion as we sit here today so the creative that you put in Twitter matters just as much everywhere else but if you’re paying too much to get in front of somebody it’s not going to be as valuable this is basic supply and demand of attention and then framed on top of it do you understand the context of the creative you have to put into it now let me go a little 201 on this it’s super important for you to do one thing it’s important for you to do what I did before I took this stage which is reverse-engineer the audience the number one mistake everybody’s making on social media content right now is they’re using the same content and they’re spreading it throughout all the platforms and they’re using social as distribution not as a native place to story tell let me explain all of you sitting here how many people here consume content on more than one social network raise your hand fantastic majority of this room so you’re gonna understand this and this is fascinating and after I tell you this I can’t wait for you to spend the next day or two realizing how interesting this nuance is I am me I’m Gary right when I go into Instagram my psychology is different than when I go into Twitter my psychology is different than when I go into Facebook every one of you uses these platforms differently when you’re on LinkedIn that’s an amazing ring when I go in it’s really funny when I go into Instagram my mindset is younger its swag year it is just different there’s a youthfulness there’s a pulse there’s a cultural aspect that even the copy that I write with my two thumbs is different slang than what I would write on LinkedIn than what I would write on Twitter then than what I would write on Facebook understand that when you put a picture or words or video on one of these platforms the person you’re trying to reach even though you targeted ads across all of them for forty four to forty five year old women with two children and $100,000 income even though she is the same person her mindset is different in every platform and that context that nuance is imperative you also have to respect the platform Instagram is a platform that only allows you today to make a video that is only one minute long that is a difference storytelling restriction than if you’re making a four and a half minute video on Facebook too many companies that are advanced in here will make one video and then edit it down for the one-minute version by their best half-assed efforts from the four-minute version that they put on Facebook without creating narrative Li for that platform or deeply understanding how to what I would call DJ the content into the platform if you’re into music then you realize over the last 20 years we’ve seen the growth of DJ culture it is a different skill set than being the person that creates the original song if you become great at being a DJ off of a piece of a content to the six or seven logos that matter at the bottom of my screen down here if you can become a great DJ if you can take a piece of content if you can understand what you want to say what message are you trying to make me understand use my dentist service buy my SAS product use my bank hire my law firm work with me donate for me vote for me buy me donate for me if you understand what you’re trying to get across and you understand that it’s words audio and video in the way we’ve communicated for the last 100 plus years and you understand how to respect and I mean really respect this and this and this and this and that and that and understand how they’re different how they work inside out spend the 30 to 40 hours to become educated on how they work and then actually with your own fingers place it run it and watch it and do that for the next six months you have a shot to be successful and if you do not you can still be successful but you’re doing it at your own peril every day goes by this is grabbing attention now you may not like that you might be very upset that the kids are in their phone the whole time but you have to make me a promise you have to leave your opinions about technology at the door when you walk into the office and run your business because your romance is gonna put you out of business and I want to debate you on your romance when you go to a restaurant and you see a couple sitting there and both of them are on the phone and not talking you love to nudge your partner and say isn’t that sad that’s terrible right oh look at this that’s terrible my look at it very differently when I walk into a restaurant and I see a couple sitting there and both of them are on the phone the whole thirty times I get excited I feel better for them I’m happy for them let me tell you why I’m serious my man let me tell you why it’s very simple thirty years ago that same couple sitting at that restaurant they didn’t talk to each other they sat across for each other all of you have seen this all of you I’m looking around a crab nice you know this is not 14 year old girls in the crowd we’re a little older here how many people over 35 raise your hand perfect all of you have seen what I saw 15 years ago which is you went to a restaurant and you just happen to notice while you were doing your thing two people sitting there a couple not saying a fucking word to each other right my friends technology has not changed us technology has exposed us the reason those two people are sitting there and both on the phone is because they don’t like each other and when I see two people sitting there in their 40s 50s 60s 70s and 80s normally both on the phone and not talking to each other I see it as a mitzvah I’m happy for them because 20 years ago they had nothing to do and they had to get through that hour hating each other not saying a fucking word but now they can look at their YouTube video and be happy it’s true things are changing you have to understand your culture I’m awfully aware of the different nuances of the culture of the Nordics versus the US when I speak everyone’s and I’m Taipei for even America people like we’re different here we’re subtle I understand I’m not asking you to do anything uncomfortable I’m asking you to communicate and not waste your money it’s not groundbreaking this is not revolutionary it’s a bad idea to waste money and just because your organization scores it that way or your boss believes in that doesn’t mean it’s right and so we are living through a very big culture change the culture change is phenomenal this is all time change 15 years ago if you went on the internet to go on a dating site and went on a date you were weird now that is the norm can you imagine if I told the parents in this room 20 years ago that I’m from the future and let me tell you what’s gonna happen in 20 years you’re gonna rather your 14 year old girl go into a stranger’s car every day to get around the town than to drive herself because you would think that’s safer nobody would have bought me selling them uber nobody would have bought 20 years ago that kids would be going into strangers you were taught how many people over 35 we were taught you don’t go into strangers cars at all costs now we’re paying a fucking premium to go inside of them the culture has changed it’s not changing it’s not coming there are 60 year-old men in here who texted a poop emoji to their friend last night the same 60 year old executive who said what’s an emoji 18 months ago the same 60 year old executive who ten years ago said they would never be on Facebook the same 60-year old executive for 15 years ago said to me I’m not getting a cellphone my pager works just fine we as a culture do not like change and in that we lose it is time for you to go on the offense not the defense because I have a funny thing to tell you about technology everything I believe in didn’t exist 15 years ago not the smartphone not YouTube not Facebook not apps nothing did not exist and if you think the last 15 years have been crazy wait to see what technology is gonna do in the next 15 years this is nothing you know what this is this iPhone X you know this is this is a pager this is a pager and then 10 years this is gonna look so archaic we’re not gonna know what to do with ourselves so let me ask you a question how many people in this room right now are retiring in the next 10 years and I don’t mean you’re gonna crush it and sell your company for a billion dollars and live on an island I mean you’re old and you’re finished raise your hand 10 years show me okay great great so for the 13 of you you can take this with somewhat importance but for the rest of you my friends you have to understand what we’re living through we’re living through a race we’re about to run a marathon in technology technology will eat up every aspect of everything always and forever it’s how it works the book stores were first then it was people that owned taxi services then it was the hotel industry with Airbnb but it will keep going the biggest TV networks in the world now that there’s OTT this will keep going everything just cuz you have big contracts with the biggest companies in the world what’s that contract worth when that company is not alive this is real and so we’re about to run a marathon and the reason I stress on you to be good at that is not because I think that’s the end-all be-all but you have no chance to be good at AR and VR and machine learning and cryptocurrency and everything else that’s coming next if you did not ground yourself in this you can’t run a forty mile marathon now on the spot if you haven’t been on the treadmill for the last six months and running little mini races to prepare and if you are not adapting this psychologically first religion first and then becoming a practitioner you need to be the architect the general contractor and the plumber because if you don’t you will lose and so I implore you while it’s easy it’s fucking easy to learn this while it’s easy you better get serious about this because the next wave of technology is gonna gobble you up and I implore you to take this speech very very seriously thank you [Music] Gary B I think should I stand there or do you know anything you want can I come close to you let’s get real close okay thank you that was great and we all feel like dinosaurs now how many feels like if you’d like a dinosaur out there yes quite a few did I say something that was action thank you one more time dinosaur who feels like a dinosaur you know what’s amazing about this game literally in 60 days you don’t have to what I love about this game is you could be a dinosaur of everything but good news that already happened this is one of the most liberating things I can tell somebody and by the way I’m not saying it to make you feel good cuz I think you can tell I don’t give a shit [Laughter] I’m saying because it’s true the fact that you can go from a zero a dinosaur I don’t know what the hell he’s talking about or more imporantly I understand but I know nothing about it in 60 days and forty hours you can know everything that’s incredible free information who’s over thirty five raise your hand real quick tell these kids about something called the library like we used to go somewhere to get him for me what do you want to know what do you want to know in our fingers in a second so what excites me is sure you could feel like a dinosaur sure it might feel intense but I see it as optimism not negativity this is an opportunity for all of you and the biggest thing is you’re gonna live much longer than you think and so there’s a lot of people here under 40s 50s and 60s who think they’re wrapping up and finishing it and it was passed where all the opportunity for happiness professionally is in the next 30 years between 50 and 80 because you can start your own business around your passion around ice hockey or or beverages or soup or suits or sneakers this is so big that I just think people are under estimating how great it can be thank you we feel much better I actually do it’s good I keep the questions coming in you heard Gary this is a free consultation so just use the time and I have a question here from mark what about ads on Facebook for nonprofit organizations does it work how should it be done I was in I’m on the I’m AM L a well member for an organization called charity water that I’d love for all of you to look at because it’s run by a club promoter and an entrepreneur which is why it’s being successful right we’re doing very well we’re really trying to bring fresh water to the entire world Scott Harrison is an all-time great nonprofit executive in the presentation on Sunday night which you know was remarkable the biggest growth for the company has been getting $5 return on investment for every dollar spent on Facebook my friends listen it’s under priced attention it’s $6 CPM and it and you can target 44 year old Korean women who like hockey I mean it’s crazy do you understand it’s crazy what it can do it’s why it’s changing our macro geopolitical climate it’s going to be $45 CPM in about three years that’s it it’s just a lot better to pay six dollars instead of 45mm especially when you have to spend hundreds of thousands and millions so yes it can work for nonprofits another question how do you think your strategy regarding visibility in marketing on Instagram and snapchat would work if if this is hypothetical or not I don’t know I am CMO of patek philippe or ms many people in marketing would say that it’s proven that luxury brands lose brand value and positioning if they’re visible in the wrong context with the mass brands I think there’s a lot of things in there in that statement I would say number one ego is mixed in there I would say naivete is mixed there those two sort of things that stand out I’m empathetic I’m empathetic to why Rolex or Cartier or Austin Martin may think that this is below them it’s also why Tiffany’s and Austin Martin and Rolex will go out of business over the next decade let me say it very clear one more time go out to business in the next decade or 15 years if they don’t act they will because every day that goes let me tell you something about social media and luxury brands none of them were there eight years ago they’re all they are now they’re just half pregnant because they’re fucking snobs run by snobs and you know what’s amazing about meritocracy and capitalism and open market dynamics snobs die okay this is not a just personal opinion based on where you come from no ya know any look listen I I don’t think I can win if I have personal opinions I want Christie’s is selling $800,000 products on Instagram is that a good enough answer what do you want like do you not understand how society works do not understand that every rich person 35 to 45 only lives on Instagram and doesn’t even know what the fuck bog is like do you live in the world nobody me I’m being really click like listen this is an opportunity like our people that tone-deaf or is it that you’re not doing it because inside the companies of these luxury brands they don’t have an internal mmm that knows how to score the metrics of the new modern platforms so they over value the impressions of print oh by the way for anybody that’s not in the business the way that print is valued on how many people see it is they give eight times circulation value – how many of the magazines are printed so for high net worth brand where you’re in with high net worth brands prints five hundred thousand or a hundred thousand copies they give you the fact that 800 thousand people will see your ad on page 237 of that magazine because you know everybody takes the robbed report and Vogue and GQ and leaves it on a plane and then somebody else gets there picks it up and opens and carefully goes to page 237 and consumes your ad so listen I think to answer your question my personal experience no I think it’s their personal experience of how they grew up or more importantly how they wish it would be because a lot of people that work at brands like that like the inclusive on a pedestal nature of that job and by the way I don’t blame you enjoy it while it lasts okay we have quite a few questions that asked about what is that like after Facebook when that becomes too expensive what’s the next thing I don’t know if you guys know but I’m not Nostradamus I have no idea and that’s the beauty of day trading attention and trying not to have opinions I don’t know I don’t know if AR will be here fast enough that there’s something that gets brought up I don’t know how soon we’re gonna wear contact lenses and live in a virtual reality world not in the real world I don’t know what I know is that I have a mental mindset a religion to know what it is I in 1996 would stand up here and tell you about email I in 2001 would tell you about Google I in 2004 would tell you about programmatic banners and YouTube I in 2007 would tell you about Twitter like I don’t know at all I know that what got me here isn’t gonna get me to the next place and I know that the market much like luxury brands doesn’t care about little o me so when it’s here in four years I’m gonna do a lot of work and stay up late and educate myself and use my intuition and my skill of consumer behavior to figure out how to story tell in the place that is now emerged okay and so then you have to go out for the knowledge so your intuition will work the right way where do you sort of go everywhere where we are currently so I will tell you the pulse of culture no question lives on Instagram you should spend an hour a day just searching Instagram hashtags and following a lot of people and then reading what people leave you should spend an if lemon fries if you’re a strategist a psychologist a you know somebody who anthropologists if you’re curious about culture it is playing out in your eyes on Instagram it is the pulse the heartbeat of the emerging cultures I knew that eight-year-old girls were gonna make slime two years ago it’s right there couldn’t he have stopped it I could have but that wouldn’t have allowed me to invest a lot of money into the Elmer’s glue company you did I sure did and if I took my coin base out right now not that not that I’m a genius and I surely didn’t bet enough money but if I take my coin base account out right now I just want to be very accurate so there’s no confusion by paying attention to culture and betting on people’s you know kind of actions I bought on let’s see here on February 18 2014 I bought my Bitcoin not last week what what happens when you stay curious and humble as you start listening when you start listening and executing it allows you to have the audacity to start talking that is a good strategy thank you you’re welcome yes this one how important is personal brand comparing to the company brand as an entrepreneur look I think everybody has different levers if you’re highly charismatic and extremely handsome you should build a personal brand I think if you’re an introvert and you don’t like people you shouldn’t it’s true look it’s very true there are an amazing amount of people building incredible businesses organizations governments nonprofits and businesses that you’ll never hear of they’re more comfortable behind the scenes and that’s incredible not everybody should be out there doing you have to self-awareness is the magic knowing who you are is the magic not being on stage and making a joke right so I think it’s incredible if you’re good at it and you like it and you like people and you can take the heat the key the key to a personal brand is humility like when I put out content there’s a lot of comments that I’m a jackass or I’m too cocky or I suck if you can’t quantify that you won’t produce so you have to know who you are if you’re doing it for the right reasons and you have to deploy empathy to why your personality may not work for somebody because everybody’s got an opinion and they’re allowed to share it mm GZ and it danger in the social media bubble are we getting more stupid by being fed witness that confirmed what we already know or think no I think we’ve been historically stupid that’s very true here’s a very simple question life is binary when we have this conversation about social media manipulating us life’s binary I’m gonna ask you very simple would you rather have the society that we live in be in a place where they can consume content from lots and lots of voices or did you like 1973 better when two or three or one old white dude could tell you what to think you can’t have both I mean that like all of a sudden traditional media has been this incredible golden era for all the people that are scared by the new regime really you liked when two people control the media I’m thrilled all these men are being outed for their transgressions that happens when the world’s open not when they’re friends with the people that control the media your choice but I think most people would agree that yes it’s better now in many ways but still we have mr. Putin and we have other realities that really are affecting democracy and what about that are we supposed if taters get to play too well you know yes like like the naivete of the human race that everything’s gonna stay the same everything is gonna Evan flow and everything will always happen flow I just AM an unbelievable buyer of us I’m an optimist of us we’ve been around a long time we have figured this out it always gets better you may not like it there might be something you don’t like but it always gets better you know what’s scarier than social media the Black Plague I just believe in us like there will always have been flow I mean Putin is executing my thesis which is the media controls thinking and he can use the tools as much as anybody else but this is where I get really mad at human beings we love to blame somebody else Vladimir Putin did not come to my house and make me read the propaganda you read it you’re a big girl you’re a big boy stop pointing fingers social and digital and the new way communication works is exposing us it’s not changing us you know how the Facebook algorithm works if you keep clicking and reading that stuff it will show you more you want to try an incredible and spit actually you know what I’ve never done this you want to try an incredible experiment go to Facebook how many people use Facebook raise your hand great go to Facebook and search at the top which people don’t do search at the top a subject that you like something you like hockey peanut butter and jelly eSports whatever you want choose suits parenting something you like search it then what shows up like all the posts like them all like them all and read three of them stay in the screen and read three of them and then tell me what your newsfeed does the next month tell me how much the bad guys are manipulating you you’re manipulating yourself you don’t want to own up to it but okay look let’s have a real ixora little trump says we don’t want any immigrants in this country especially not the ones from Belarus okay yeah and every argument for the immigrants being in United States won’t reach people’s feeds so this this is the reality and they want to throw you after the country how do you go about to sort of get into this space to reach these people so there’s a lot of questions in that let’s start with this first of all Facebook has a lot of attention but it doesn’t control all the airwaves it doesn’t control all the communication there there’s nobody who’s doing anything in a macro that people aren’t aware of it’s not like people spend 100 percent of their time in their feed let me tell you something in America if you only watch Fox News or if you only watch CNN you’re seeing two different things – there’s no difference of your Facebook feed than if you have Fox News on the whole day or CNN on the whole day we are manipulating our consumption always also in that scenario I know how to get two Americans to know about the Belarusian thing just as well as the Trump or the Hillary Clinton or Obama machine and believe it or not on Facebook I have a fair chance in old media I don’t okay let’s argue about that later that’s nothing to argue about you will be historically wrong if you believe what I just one more time trump 40 years ago says we’re kicking everybody out there’s he has his two best friends are Rupert and les Moonves and he controls the airwaves you know like dictatorships this is historical I’m not it’s not my opinion Fidel Castro did it this is simple do you want two or three people controlling the information or do you want an open marketplace there’s nothing to argue about the conversation that we need to have is our lack of accountability of what we consume and our curiosity the day after 9/11 I started going to Al Jazeera’s website for the next year because I wanted to learn that is way more important that is what we need to be as a we need to be empathetic and we need to hear other points of view whether you consume that on Facebook or on television or the newspaper or the magazine that’s a human thing not a media distribution argument don’t blame the platform okay forget it do you agree I do agree yes I do okay someone wants to know if you ever we’re wrong a ton and let me tell you something and this will make sense and I think babban this has been the theme of our like trip on this I bought crypto in 2014 not the earliest side friends buying in 1112 but definitely not the latest I have a lot of wins on my board and early investing the reason somebody would ask that question is I only talk about things I know not things I think I’m very basic I talk very little very I mean just in a very narrow place I could talk to you today about AR and crypto currency and the Internet of Things I just know there’s a lot of people that are smarter and better to talk about it than me so the reason I feel like cocky or are you ever wrong as I stay so goddamn narrow and I talk about things that have already happened I’m not guessing up here my friends I’m just social commentating on what happened and that’s it and so yeah I’m wrong every day I just don’t think it’s a good strategy to go on stage and guess or a pinion 8 thank you you’re welcome okay this one how do you use Facebook in order to raise capital for a start-up you run ads against employees of venture capitalists is that a good answer whoever asked the question what what’s really interesting about that is how great this is the fact that I can make a video on my phone for free articulate my points of view of why my startup and the I as a founder are special and then spend $600 reaching every single employee of every single venture capital firm that could potentially want to talk to me is the greatest opportunity in the history of marketing and communications that’s how you use Facebook to get in front now if you’re not a practitioner and you just talk about Facebook but you don’t know anything about it you might not know that one of the ways you can run ads on Facebook is clicking a button that says go to these companies employees in the feed you may not know that that’s it headline readers practitioners my plea here today is for you to become a practitioner if you’re the CEO and 90 years old or 22 years old and you’re gonna change the world and everybody in between you have to be the practitioner this is oxygen now you can’t have this as a nice-to-have communication in today’s world is the value and you have to be good at it Gary what’s your best tip on delivering quality at scale driving down the cost of the production of the content the biggest reason so many people are losing is because they work with agencies or internal people that aren’t producing enough at an efficient enough price the reason for certain you know for the hands that went up that follow me the reason I started talking about documenting versus creating is is because I’m trying to produce so much content having a man follow me around with a camera though narcissistic and crazy has allowed me to create so much content because so much is happening all the time and then I’m DJing it I think the biggest reason people are struggling is everything is too perfect too fancy and too subjective I let the market decide I deploy humility with my content I produce it I put it out there and then I watch what happens not before and so this camera is so much better of a camera than what we have just six years ago that cost thousands of dollars you don’t need unbelievable equipment you need people that are native to today’s digital world to produce content I would also say you have to use content in multiple ways when I make a video I turn that into audio I turn that into the written word I get to write a 500 word essay on LinkedIn off of maybe an answer that I just gave here today because it was recorded then it’s transcribed create a framework that creates enough quality content at scale so you get a thousand at-bats instead of 13 which then allows you to not debate quality quality is subjective period until it hits the market and there’s too much audacity ego in the executives in this room and in my own company of what quality is before it goes out and I fight that I fight that daily okay but what homework can you do earlier on in the process to ensure that this documenting of this produce of content has a good quality I mean working with your values I go the way you do it as you start and you put it out and then you learn from the feedback which then informs you on the next thing that you do it’s iteration it’s the reps you got to do it you can’t read or debate about push-ups if you want the ROI of push-ups you’ve got to do the fucking push-ups and that’s how I think about content I really do you can’t read or debate about the push-ups and I don’t think you can read or debate now I even strategy and consumer insights I live on it you should do that but that has a moment and then you need to produce at that scale because there’s a lot of platforms and a lot of attention and it’s fragmented and you got to give your chance yourself chances and by putting out 800 videos 30 of them are gonna teach you so much for you to be better at the next 800 so major piece of advice that just start yep okay and that is very countercultural to organizations and corporations they’re in the business of not starting that’s I this is just a question for me cuz I know one can order you as a speaker with or without cursing is this with or without cursing I really hope this was with cursing I don’t love you guys take care you can’t curse in Stockholm you might as well close up shop you know stockholm can handle it what do you do when your target audience is too small for Facebook or LinkedIn advertising tools to let your abs through got it so your the segmentation you’re creating is too small who asked that question ma’am are you is that when you go for your targeting it shows not a significant enough so I think for now because Facebook is so under priced i when I try to do that think about a very interesting strategy that you might like you’re trying to if you’re going that small you’re trying to reach decision makers right think a lot about the people that influence the decision maker the reason I love employees of as a target is because you never know which employee has the CEOs ear it’s funny to me in a my company of 800 that there’s 3040 people that are very junior have a lot of influence over me more than other people that are very senior so I think Facebook’s so underpriced that you should just add a wider range and give away that money on the CPMs it’s still worth it to get to the group that you’re trying to reach so when I get too small I just make it wider with age or preference or I’ll tweak it or by location because I know that a lot of big companies are there i widen it because i still value it so much that even wasting 80% of it I still think is underpriced because the other option is what’s your alternative right sending them a direct mail or cold emailing them or sending them a message on LinkedIn is not being heard make sense ish do we have a mic I want to have this conversation do we have one where’s my microphone oh right Jesus Christ that’s insane you were right there love it oh I guess it makes sense but sometimes you know you have the people you work for they don’t want to spend enough money no shit it doesn’t make it wrong right like I got I get it now like I’m giving you the actual answer if you tell me I only get a $1,000 budget because you know they don’t believe in it well that means you should go find another job okay good thank you welcome Hannah and I mean that you should find another job if you unbelievably believe that that what we believe in is right if you don’t well then you don’t but to me this is a real decade of the haves and have-nots and you need to be smart because the opportunity is great if you actually understand it the fact that you have targeted the fact that you have targeted a segment that is not big enough means you’re ninety nine point seven percent ahead of most of the marketers in the world you need to take advantage of that not just regress into the Machine I wonder if her boss is here or and if he’s here or if she if that’s good or bad I think it’s good because I would hope that she or he listens to this conversation and says screw that guy on stage here’s a couple of more dollars let’s prove him wrong and then I hope that she makes good content so that we could prove him or her wrong okay so these are you know good arguments forget getting an organization going but what else could you tell for example are is fifty nine years old not very keen on spending money on social media listen I you know I don’t have a huge passion that fifty nine-year-old Lars spends money on social media I really don’t hey I don’t give a fuck about Lars but be be the market will be the decision maker I don’t want people to pander to me or to the history like I think Lars and Susan should see what it’s like for themselves but if they don’t you know much bigger companies than yours have gone out of business why because of this argument right if my argument was wrong then IBM would have never let Microsoft happen then Microsoft would have never let Google happen Google would have never let Facebook happen companies are built when people don’t see things or they see them but they don’t make change because the people in the company don’t actually care about the health of the company they care about themselves super not fun super not fun to make the proper investment into Facebook right now if the head of marketing is bonus ton efficiency on a thing that doesn’t score Facebook advertising okay okay this is a personal question to you from from someone in the audience have you negotiated a deal with Apple to give you $6 per view on iPhone you would have made at least fifty thousand dollars by now I haven’t Apple isn’t super in the business of negotiating directly with me I haven’t but uh what I would say is this I I have zero expectations of the other person or platform I think one of the biggest mistakes is people spend a lot of time here saying well Facebook is benefiting from me or this or that I don’t care when I go into business whether it’s a human or a platform I try to figure out what I’m trying to get out of it I always like if I’m getting a little less out of it because then I have leverage and that’s how I think about the world and so I don’t think about what Google and Apple and Facebook are getting out of it I think about what I’m getting out of it and if it’s good enough for me then that’s fine by me and I think a lot of people are miss playing their strategies because of some theoretical debate of who’s getting the better of the relationship I just try to spend time on what I’m trying to get out of the relationship and if those two guys get 80% of the value because they get all my content for free and it helps them and they never buy a sneaker or a book or anything I don’t care it makes me happy fine it’s not why I’m doing it and I think people get really caught up in the wrong psychology good with an increasing CPM on Facebook is the Facebook stock the best investment today I mean there’s listen I like I think actions are better than words I don’t understand Wall Street at all period let’s start there I don’t trust those fuckers there’s only two stocks that I buy ever like ever Facebook and Amazon period that is the only stocks that I bought in the last five years because of Mark and Jeff I believe companies are complete replications of the leadership and I think both of those guys are playing long-term not to make the stock good in the next 90 days and that’s how you actually win in business you invest in the next things and so yes I think Facebook is grossly underpriced at $175 now could macroeconomics crash the world economy and that 175 go to 85 of course but if you put a doubt well if you put $175 into Facebook and you never need that money ever I am convinced blindly that you will return an investment on that in a 10-year macro and that’s how I think about Amazon and Facebook it’s it’s so it’s been really great getting to know you today and also yesterday in Gothenburg but what will you do in the next 15 years do you have a plan or is it just you know lust or what are you what’s your objectives I don’t know if you heard earlier about the Nostradamus thing my intuition is over the last year or two I’ve become intoxicated with impacting young men I have a lot of young guys following me because of the Alpha nature you can see in this is probably the most alpha I am cuz when I am on stage and nobody can talk back I like that right and it allows me to be a little more bravado and I’m a little bit more of a showman when I’m one-on-one in real life it comes down in different direction but through my personality I’ve gotten the attention of a lot of young men and I’m really trying to teach gratitude and empathy and kindness I think these are weapons to why I’ve been successful and I do have an ambition over the next 15 years to become unbelievably popular to that demo so that I can make them a different version than what they used to look up to Rolexes and Porsches and parties and and I do have some pretty lofty historical legacy ambitions on my ability to communicate and the way that my mother raised me my intuition is that every day that goes by that continues to pull at me more yeah I want to be historically correct and that really comes true through when I went when I when you spend time with you and I was just wondering what did your mother do she she taught me boy she’s fucking she did everything right so what did she do she over accentuate it when I did good things meaning I remember clearly opening the door for an elderly woman when I was seven or eight at McDonald’s you know we’re just going I just remember this clearly I open the door for this elderly woman my mom acted at that moment like I won the Nobel Peace Prize so she was very aggressive when I was being kind or deploying empathy but she she also didn’t let me get away with things so she knew I was gonna be successful long before anybody else but when I would get D’s and F’s on my report card she would punish me for a week or two even though she meant knew she knew it meant nothing but she wanted to teach me that things had repercussions she was my biggest cheerleader but she was practical and and I’m so grateful for her and so she built up my self-esteem to an uncomfortably high level and she and she raised three children with no help and worked her ass off like I can’t even she did something’s wrong but it came out of what she did amazingly well like I can’t do anything for myself like peel an orange or wash clothes cuz my mom did everything for me she was that hardcore she created an incredible framework for me and to be very honest with you so much of what I do is out of guilt and gratitude for how my parents raised me and me not having anything and having to work for it that I’m trying to I feel like a lot of this is me giving as lucrative as this is for me to get paid for you know I’m sure you guys in the organizers for my fee but I’m very fortunate mmm the companies I’m building my time allocation is far greater for me and be in the business than to be here for a day but this and knowing I was gifted with a communication style that is actually going to get three people here to do something that has a lot to do with the way I was parented I’m desperate to give back the wisdom and the framework that Sasha and tomorrow gave to me thank you Gary that’s beautiful thank you and one last question was from someone who noticed can I get my selfie taken with you and maybe they can buy the books 100 percent let’s go-oh at the book oh that’s a segue I wanted to do it here sorry don’t want to break the system yes yeah it’ll be a bowline I’m ready to go yeah do we want that one person to come up here now yeah who wrote that let’s go it’s fucking selfie time pleasure you ready Amina’s common video today also the Communist booboo TT Chris Hadfield or Gary sally oxy nearest-neighbor kisna foreign trotzdem thank you thank you thank you guys thank you thank you thanks hope you guys liked it two things what do you think of the keynote and number two what’s your take on the Stockholm Syndrome [Music]