Gary Vaynerchuk, Resy’s co-founder and VaynerMedia’s CEO, recently expressed his thoughts about the underutilized potential of social media in the advertising field. He voiced concern over businesses neglecting the significant impact direct communication offered by social media can have.
Vaynerchuk strongly advocated for content that targets individual platforms, as opposed to using generic messaging strategies. Additionally, he touched upon influencer marketing, emphasizing the success small and medium firms can achieve when harnessing influencers’ power correctly.
He underscored a shift towards an advertising approach that greatly values consumer’s preferences, engagement, and context. He compared his 15-year journey of gathering millions of followers with today’s reality, where a newcomer content creator can gather a similar number of views with a single well-made video.
Vaynerchuk argued that this shift alters traditional marketing methodologies. In a historic first, a single non-promotional post can potentially be seen by millions. He highlighted the importance of organic reach and the power of content that penetrates distractions and captivates audiences.
The evolution of social media algorithms, creating a balanced playing field for advertisers, was also discussed by Vaynerchuk.
Untapped social media power in advertising
He signaled a need for swift, strategic adaptability amidst this change. A lack of adaptation, due primarily to continued reliance on outdated models, could result in companies falling behind more agile and tech-savvy competitors.
Traditional strategies, such as amassing followers, have become less effective due to evolving AI algorithms. Vaynerchuk used TikTok’s “For You” feature to illustrate this point. Now, he insists on creating engaging content rather than focusing solely on gaining followers.
Vaynerchuk concluded by explaining a recent trend wherein a novice poster could surpass a veteran poster in views, heralding a “meritocracy surrounding content”. However, he lamented that the ad communities have not fully exploited this potential. It signals the power of relatable, engaging content driving significant viewer interaction, requiring an industry-wide overhaul of marketing strategies’ design and execution.
