Lessons in Branding & Marketing with THE EIGHTH | Garyvee Business Meeting

This Post: Lessons in Branding & Marketing with THE EIGHTH | Garyvee Business Meeting

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what when I say my team I mean the colic leaving this the blog that I do like the content I put out I also come from the wine business and so some of the stuff we do to drive results happens that world so I just wanted to sit in because if he doesn’t I’m not capable of like follow up Alex the same he’s does business development on my town since I’m giving Andy so much he might not be able to follow up soon so cool so tell us about this so the concept of the eighth evolved from me actually shopping in Barney’s and Burgdorf man’s looking for a really cool sexy high-end underwear from my husband he’s he started gold entry asset management which has both billion assets under management you know she’s a Wall Street guy but he likes to look pretty pretty hot and all that so you know I was seeing nothing for the Christmas not a good time I thought there’d be something kind of cool Victoria’s Secret always has like a million dollar bra that’s right very hot sexy yep so I didn’t see anything there and then I went back for Valentine’s Day is it all getting something very hot and sexy Valentine’s Day and we’re talking boxers oh yeah I was looking for theory yeah boxers you know maybe some silk yeah yeah yeah something cool so nothing and I said hi I want to figure out if there’s a business here because it seems like there’s a demands that need Harket there’s probably a need for business yeah boy so I am you know I met Jason and Annabeth here she apologized Norse but she was she was a former editor fashion editor at Vogue and she was at Seventeen magazine she had the whole fashion photography background got it Jason did private label he’s a designer he he could make any if you need something now they’ll probably go back and get it for you so he’s on our winter white yeah so I not like a pumpkin pie no okay collectively as a unit okay yeah no god it’s got him that good okay anyway so I researched it I researched Calvin Klein basically had you know some 97% of the market share for men’s underwear at the time when I was looking at what the market was revenues unbelievable worldwide this is a premium boxer in category you know you would put it as why Calvin had such a big percentage like right metier metier but they but they were really dominating the entire market so we talked about things like I believe you know I wear a lot of Loro Piana and all that so we looked at the loriana cashmere which Jason was able to source we retain the commissioned artists like Richard Phillips to toe rock people who do 12 so we have 12 you would like this one toile I don’t want me to find it but famous athletes and compromising positions like Derek Jeter being found caught in bed yep we have Larry Bird who was on the cover of Sports Illustrated and it by accident looks like – yep Cheerilee is giving him a blow job yep which they retracted at one point Muhammad Ali so imamat a leak we did a special because of his passing but we have the number eight buried all around so anyway so we came up with some really cool things I don’t know if you have cashmere we also came up with compression compression shorts that Equinox voted number one in the country for the best compression short you know while you’re working out yep this is the cool so this is picked up by Gorsuch which is the number one store and Aspen and Vail there there’s catalogers at 3 million right it’s like a babies touchdown anyway Gorsuch has a three million reader subscription for their catalog and all that and for such as in Vail what’s the price point hi of course well that’s what you went out to do right yeah so we do a lot with the eight so this is eight hundred we sell out every time he can’t get it it we sell out all the time at eight hundred people selling these are seventy eight these are 68 yeah the opening price might is about forty eight dollars for something solid into me yep we have the cell feet we have the selfie so if you take a selfie of yourself in it which we hope people will put it on Instagram which chef this comes this way and then flips over so we have kind of very cute and clever ideas that our designers came up with we were up our özil we were featured at Art Basel and how how long has the company been around well a year and half that we’ve lost view in concept and you know together incorporate it’s been about three took about 18 months to get the market yeah techno week we had a launch party at the church street boxing gym with Travis Scott is it forever so we kept him you know on them on the ropes standing up with his you know his a waist waistband so we had some really great great press GQ magazine Vanity Fair and the business is selling mainly to retail or direct-to-consumer we’re really good with with website got it safe on fire so this is a week so what percentage your businesses you guys we but maybe flew in Colorado today Philip unless we don’t okay okay yeah so but anyway this is a Richard Cole this was featured at us colossal so it’s a week and if you’re if you’re high because your eyes get a certain retina whatever you told me you see this that we pops out well if you’re high I wouldn’t know so they say what what percentage of business is directed super versus directed concern are of course yeah keep the margin yeah and also engaged if that’s where we’ve course to any you know burgers want something like this but then you know they may not necessarily sure this is going together then you kind of course it looks like so you know we like being and how are you driving sales to calm press mainly map so far in the beginning it was sort of organic press yeah but of reach out to different publications or a little school method yep we also are featured in many I have a fake movie background so they’re they’re featured in movies you know Alec Baldwin De Niro in various movies ever have come out and premiere so we did we try to use various product placement projects and all of that now it is an SEO and some online you know research and all that that we target SEO or SEM as you SEM and any Facebook active yeah yeah but you’re not running Facebook ads um they were yeah it has the urgency got it yeah and and Instagram or influencers on internet but neither one you don’t have an internal asset that understands digital marketing so you have to mercy of whether that’s where right now sort of trying to say you know this is where this has been a good place for us and now that we’re is that as we know what our best sellers are we know the products going forward you know what’s next and you know I think we’ve created a vocabulary for the brand sort of a culture of what we do and how we do things it’s not typical of other brands out there right now so it’s what we can present dependable you need to have an internal resource for digital marketing if you’re gonna be a direct consumer brand okay first and foremost like from like a religion over tactics that’s the first religious thing you have to do otherwise you’re at the mercy of an SEO firm that is probably doing Facebook terribly wrong even though the Facebook SEO is blood easier to show black and white and is a twenty-year practice so anybody can do SEO kind of thing versus most people can’t do Facebook but all the action is on Facebook and Instagram especially for a visual brand your visual brand Google Google find somebody searches boxers or what-have-you and you can win that game but it’s blue letters it like if you really understood if you really gave a shit enough to really understand what’s happening in Google it’s completely the antithesis of what you’re building it’s completely commoditized branding sure whereas Instagram and Facebook or visual like your blue letters are the same as blue letters of like private label hot you know the least expensive boxers in the world look exactly like you on google google blue letters so you’re not only is it is there ways to do it better it’s also a detriment to your positioning and all the efforts you’re putting into it too most of like and then think about 80% of your business is done online and I have to assume an unbelievable proportions of the traffic coming in outside of like a good article in a you know a search term is going to be the SEM so that’s super important to me and so I think the follow-up to this is going to be how much do you want to pay for somebody and then I’ll try to help get you the best possible person for the lowest possible you know kind of thing so I’ll give that some time I think that’s the that’s the big big big takeaway so what do you guys want to happen that would like obviously want to build a biggest brand in the world and you view that as happening you’re direct-to-consumer world are you guys thinking long-term of having your own retail experiences like how are you thinking about distribution got it you know yeah so the same world isn’t very secret was able to create you know would that be in New York the first store I’m asking a pretty specific reason because I want to give you the strategy against the creative social like if the answer is yes and because you’re not going to spend a million dollars a year on Facebook ads or maybe you are but I’m making some assumptions I want to localize the strategy against the place that you’re most likely going to open the store the eggs came from eighth Avenue that’s where we started so you know it would be kind of apropos to start in New York on a bad new so okay I would think so right you know absolutely okay what else going into I mean obviously we had you know I had just only met your husband so I don’t know how much context that was there anything that you guys had coming in mentally into this meeting questions or thoughts or anything you wanted me to talk about you know I guess what we were thinking about is you know whether we should this is just a question though yeah I have yeah you know do we stay and do more of the same because it’s good do we start expanding and you know a lot it’s weird because we have a lot of women who are wearing wearing this where we have a lot of women fix on to men right if you go on our website it’s men but we have a lot of women I don’t know if we’re supposed to how much ribbon you do guys shop I have to look that up I’m not I’m not the money person no worries but it’s no it’s not that crazy it’s not crazy but you know we always we’re always looking to see when we expand the reason I asked that question off of your rant is my intuition is it’s a common thing this is one man’s point of view you’ll get some different points of view on this I think people go too wide too early I mean look you’re you guys are a team of quality and taste you haven’t even begun to go down the path of sales and conversion right right everybody has their strengths and weaknesses right I think you guys are a game of quality and taste and the reality is that makes you an artist and what makes you a business as sales and conversion and the cool thing is you’ve outsourced that now who’s the agency you guys went with for the mm-hmm did you guys I don’t know that is but do you are you had a relationship with them or you guys met with a bunch of people or how did you come about it was a clown I got it yeah I mean that’s to me how much are you spending with them hey there there feasor but then you have to pay for the advertising yeah I mean if you’re truly spending 30,000 a month I have some great news you can do some real damage like you can still do down well of course I mean look by the way you can do damage with $1 it’s not gonna be this on me the greatest damage in the world but I know here’s the good part you’re already spending enough money to see meaningful results and I don’t know if you are not I do you I mean you have any feel of what you’re doing in revenue per month I threw the EECOM Channel who I you know City can I know the answers like whose I wasn’t prepared for that sorry that’s okay that’s okay but but to that point are you guys I mean I still think that that brings some interesting intrigue to the conversation around art and science like if if somebody’s got to be grounded in that shit right and it can’t be your accountant right somebody’s got to be running the business and by the way I’ve run the business I run this business it’s 100 million dollar business there I don’t know shit about numbers I have people do it but I’m grounded in them because you have to have them for strategy right you know what I mean yeah like to me to me you finally you should focus on what you do best right that’s what I’m I’m not really retrospective to see how much are we making how much we’re making it’s more like where we go what could we do how could we do better I’m less worried about how much you’re making I’m worried about what your money is being spent on to make what you want to happen when you’re spending three hundred sixty thousand dollars a year in advertising I can have all of Manhattan giving a fuck and you don’t have that so correct so what I think you have is nine is two thousand four digital marketers who are making a margin on you and and if nobody I stopped them I stopped them as a olga strangle right god I like I said over by you know guys that know that you know God cuz it’s a tremendous amount of money and you know it’s just not yielding the results of you know I know it could possibly in the future but you gotta justify every month so the answers I stopped that got it and I’m looking I am looking for a way you like you’re saying what makes sense dollar wise to get this going you know I think it’s Instagram I think it’s snapchat I think it’s Facebook I think it’s YouTube I think it’s where the consumers attention not a specific comment you say someone in our hire somebody to sit in like it or my intuition is my intuition is it ends up being both okay but think about it it’s like me being it’s like me paying for art it’s not what I do and if I’m the decision-maker I need you to be my partner to be like is he right I want you you guys at least on paper I want you to have somebody to know if we’re the best if Rick’s the best if Sally’s the best you can’t it doesn’t say you guys don’t have the background for judging story you have taste you know if this is a good if you asked me to know what the fuck this should cost I’d be dead you know that in your sleep I want you to have that asset on your team so when all the characters like me come around well they’re radiations okay you know they know what the hell they’re talking so yes right I think that’s important and I think the other thing that’s running through my mind is you know a lot of people that work for me wanna work in small companies and they come here for training and so I might be able to help with somebody who’s young which will cost you less but trick but skill above they’re a and can do it all creative and you know cuz you a crazy question have you thought about building your brand I think that is the biggest wild card so I think you should do all that but if you ask me how it becomes big it’s because you became big and and in the same way what he’s doing right now like there’s a new way to become big I actually think I don’t I don’t know that I’m not from that I’m aware how old for that I am ashamed by the way by the way this is not an age thing what we’re inventing but just so you know no no no no and they can all attest to this all the 20 year olds in the world don’t understand what I’m talking about I’m talking about the modern day human production company around a person there’s no 20 year old running around this they understand how to take a selfie they understand that snapchat is important they don’t understand the science that the 15 people sitting out here that all work on just my brand understand yeah I do and so today and they’ll go on to you they’re like crush with me or like it will be known because once somebody figures something out the world will know but I sure do basically what I know right now is we’re sitting on a capability that is what reality TV was in 2000 and once in a while you come across a person who actually can play like it still takes talent like my early intuition on you is that you have that thing and you need to debate it right I think I feel like I have the talents I’m not the talent thing but if they’re the talent and I feel like they have the product and they have the quality and then I feel like it’s my job and my wish to to to get it out there I think I think the way I kind of think about it is if tomorrow Bravo came to you guys and said do you want to do a show about your journey and building this company you would seriously consider it and we I mean I don’t know you like how you go wider like fuck that or that’s great but you would seriously consider it for the exposure of what I do your business and I think you would do really that show and I think when I see that they need to like you need to get grounded in what vlogging is and all this stuff it could by blogging video blogging okay it’s basically a reality TV show like I’m not joking when I tell you that if you asked me push comes to shove to be historically correct on the thing that made your business big it would be a human being following you around the camera every day yeah we’re I’m so interested in it that we’ve been spending the last six months in about three months we’re going to launch something called Vayner talent so I’ve been talking like Tyra Banks like Curtis Martin football player like a bunch of different people we have figured out something for me in the last six months and I’ve been on social media and producing content for a decade but in the last six months we’ve really last year we’ve really figured it out and now we’re trying to figure out if we can scale it as a as a it just it’s funny to me that that $20,000 a month charging somebody for something like this would bring them a lot more business than what we do best in the world here on Facebook and Instagram creative and ads it’s cool it’s just how the world works unbelievable so something you should sleep on I don’t necessarily need you to as a client but I can show you how it’s done you could hire it internally but it’s obviously a very personal decision like I’m not joking I mean a reality show right like there is a man or a woman for that matter that follows you around and it’s you yelling at Leon it’s you shopping it’s your meetings it’s you having business meeting like it’s a show and it airs on Facebook and YouTube and I believe it would be the biggest gateway drug to the growth of your business but you know and but I think it’s a very easy thing to understand today if you think about Skinnygirl or if you think about the Kardashian phenomenon or the fact that dj khaled is gonna make 30 to 40 like that what is it people want to get hot people keep doing know people the psychological punchline yeah rubbernecking it’s just a deep inherent human thing it’s called Yenta syndrome got it it’s just it’s who we are it’s what people are we’re generally interested in people and the people no they just want to see the truth got it that’s why what I’m doing is going to beat reality TV because reality TV is just more of the truth of TV but this is way more truthful reality distribution Facebook and YouTube but then think about what you do but what people don’t know is so now we take a thousand dollars and we run the ads we’ve run so we run you put nobody knows who the fuck you are here’s Episode one of you no one gives a shit but Facebook is the best ad product in the world so you post it and then we run a thousand dollars worth of ads against the employees of Saks Fifth Avenue Barney’s and Nordstrom’s so now if I’m Sally on the Upper West Side and I work at Nordstrom’s when I’m going through my facebook feed and seeing my friend’s daughter I’m going to see episode one of your shell in my feed ninety four out of 100 be like I don’t give a fuck but six are gonna watch it day after day after day depending on how interesting and clever and how well it’s edited and how well the ads are targeted you build that’s it how long are they these little Oh so they run the gamut he D rocks laughing because we’re airing on Monday an hour and thirty minute of it but normally ours runs mine runs ten to twenty five we’ve got our first beta outside of me a graffiti artist and motivational speaker how much of how long are those been 20 minutes angers and you have your own Facebook page yes you would have knew that he loved me for the for you we would have to have you yes I mean under your business that’s a very good point in the first meeting and I clearly got it got it I’m sorry so so so so the punchline is we would I know you are but but I love being respectful um you we have a strategy session at first we there’s a very good debate to either it being your page or the company’s page and we would talk that you’ll see in the deck we’re making four people it’s the first thing it says is we’re reverse engineering you give me the most famous person in the world and be an introvert means we’re not working together right you may be so famous that you don’t want to do it any like like you’ve got to be the right person people don’t have to I have no time like time is a factor I don’t show my children just a decision my wife and I made uh I wish I did because it’d be even more viral in huh yeah but but that’s something important to us so all we do right which is huge family kills like I’m leaving millions of views on the table especially with my two characters everybody everybody plays their own thing right um as you can imagine I do a lot of business so a lot of the stuff never makes it because I’m having I’m firing somebody I’m talking about somebody salary would negotiate things that TV shows that are six months away that nobody could know about so you’ll in life you know yes yeah I need some people ask for him not to sometimes I feel uncomfortable in the scenario no yes my business life it’s not just here it’s in Finland and it’s Orlando yeah yes that’s right it’s a business show it’s a life it’s my entrepreneurial life i reference my family uh but i just have a funny feeling you’ve got some upside in that and it’s something you should two minutes and you should sleep on it okay intuition was right I think so like it’s just so it’s so black like I almost feel like I see life in a different lens like when I see it I just know and the truth is unlike learning the craft of how much does this cost learning the craft of what these 800 people do what’s so great about it and you’re gonna know this you just do you it’s it’s the time it’s the easiest thing to do in life so something think about some of the think about don’t you would you be that they would be the person to be everywhere office or following in home no I’m by the way but like by the way it could be only about you and you’re a side character it could be the show about the whole business and there could be for kept like it could be cheers they could be you know it that’s right okay it could be anything you want it to be because here’s what’s better than signing a deal with Bravo you’re in control of the final at it yeah that’s where it gets real good now the thing is I would recommend that if you try to micromanage too much and not listen to what we know which is you have to show vulnerability you have to show real humanity like you have to show the shit you don’t want to show otherwise nobody gives a fuck because you’re back to television got it some of the be so I think those are those are two things you should be sleeping on a you know a real digital strategy for 2017 not for 2006 uh and just and be a real conversation amongst yourselves of like is this the right model and this is a model that literally exists only with people that film themselves vloggers on YouTube that have transcended I’m not good at that so I made my own version of it which is this but it’s real we know that and then and then shooters snapped are they all equally powerful they’re all high do them all the same content everything nope left because no because most people use social media to blast out you have to create for it so content that works on snapchat snapchat is me first person always whereas YouTube and Facebook is the distribution of the show got it Instagram is me but I use that for motivational quotes mainly you know so dip dip dip dip all strategy like the thing that people don’t understand is this is the world this is the actual world of communication and there’s real scale and everybody thinks it’s just like oh it’s social media it’s exponentially harder than print like if your lovely partner was here I would absolutely make her feel inferior to the skills she deployed against print cuz it was easier it’s just easier my right you know it’s not her fault it’s just the truth like this is very complex nuanced and detailed which is why everybody thinks its first so everybody doesn’t think it’s a big deal and then when they spend on it and they aren’t successful they don’t think it works it works you didn’t know what to do with it you know much money I would make playing a piano you know what I mean but Billy Joel makes fucking billions you have to know what the fuck you’re doing so alright good yes I mean email let me know if there’s anything I can help with you know we don’t pleasure take care thanks for hanging you guys but you can you could really out like go and cliche and I don’t know you but I’m just giving you like like you could win the housewives sex in a city thing in a real way I’m telling you right now you could you have to think about it I don’t I don’t want to I don’t know here’s what I can promise you I can promise you you can come in here and sit with me and Lindsay and I’ll walk you through what Vayner talent is I I’m still work um you know you know what makes a great salesperson somebody that really believes in their shit I know we’ve got it I really believe in it I’m scared of two things one that’s why I’m bait testing with this one person I really want a triple check because I want everybody talking about me behind my back the best because I make five times twenty thousand dollars a month to give a speech I’ll do that it’s not about the money I want to build something eventually that could be worth billions because that’s what production companies are and – I need to know you better because the because I have a lot of empathy for what it takes what they’ll tell you is for all my intensity I let the creators do their thing I don’t control the message and I’ve been in this for 10 years understanding this world here I just threw a whole new thing for you to think about it you never thought about it yeah now you mean right now you’re gonna think about it and even if you say yes 100% I have so much empathy for you wanting to be very in control of the final output and in that is a lack of speed which is the ROI of the whole thing so I need you to be in the know business not the yes business what I mean by that is you sit down you watch for 23 minutes and you’re like no that one thing I can’t like my sister will kill me right not idea about that not good right right not a lot right right not not not oh I don’t like that angle right you’re just gonna lose it yeah most of all yourself yeah because because by the way getting into a place where people are stopping you cut like I’m getting stopped 10-15 times a day in the street it’s changing my life you know with my daughter and fans are yelling out she’s like Daddy like you know like so you know and by the way people like you and I we want it we want it you gotta be big and you’re yeah you’re the unit different but yeah you’re too much yeah you’re too much that’s correct in a different place but but I will tell you this you will sell shit I built a hundred million dollar business on my brand you will sell shit you’ll get any yeah you look you’ll get it you will get an email from QVC saying do you want to work with us you will get an email from for an unbelievable shop in Naples Florida that has four locations that says we love you we watch every day we want your product when you come to the store you’ll get an email from HarperCollins offer you $100,000 to write a book it will happen that fucking 30,000 a month deployed against this for one year that 360,000 dollars will pay you back millions this is the new world coy take care it’s like yeah stay well bye-bye you really think this is right for her huh I’m going off your vibe now just from whatever one conversation you know it’s not about me thinking either gonna do I’m a Cuban are you know to really even our night life of me doing all easy and by the way some things you can and some things I can you know what I mean I was right I was with Joe Biden two days ago wait I feel that I like you you know but you push for as much as you can right you get it sometimes over you know yeah okay all right take care bye-bye take care