“Social media” – it’s kind of catch-all term used to describe interactive internet technologies like Twitter, Digg, YouTube, Facebook, blogs, etc. The question is, what value does social media offer to businesses promoting their brands or products online? Internet marketers answer variations of that question every day – but I’ve never heard anyone articulate it quite like Gary Vaynerchuck (w), of WineLibrary.tv.
In a recent video on his blog he made a clear comparison between the value of a customer you might reach through TV marketing versus a customer you might reach through the internet. Gary V. asserts that the major difference boils down to the social aspect of the internet (social media) which enables your prospective customers to easily spread the word about your company. It allows customers to become “crusaders.”
This is how he puts it:
“Sally Arkansas that’s eating doritos sees your [TV] commercial, likes it, and may want to buy your product…[she] may get into it.”
“Sally Arkansas who sees your brand on a website can hit facebook share, can copy the URL, can Stumble it, can “bit.ly short URL it,” can pass it on. The word-of-mouth factor of somebody that is a user in the “social media sphere” is 40…60…100 times more valuable, because that is not a user, that is a crusader, a word of mouth sprayer. Get it…or your gonna be gone.”
For me, that example just clicked. Even if you don’t know what “bit.ly” and “stumble” mean (they’re just ways of sharing things online), this example paints a very tangible image and clearly distinguishes one huge difference between internet marketing from traditional marketing. It’s all about word of mouth – the most powerful marketing medium there is. The internet and social media magnify word of mouth marketing.
Here’s the full video:
Gary V. has not only made millions selling wine, but has also created a brand for himself as an internet marketing evangelist. The guy is pure entertainment – but he also has some good stuff to say about internet marketing and brand development.
I first saw Gary V. speak at Affiliate Summit in Las Vegas – he was the keynote speaker in 2009. After I got past the comedy of his presentation, I realized the content of his presentation was actually substantive, too. I’ve been following him on Twitter ever since. I hate to point out the obvious, but this blog post is an example of social media being used to spread Gary’s brand. And not because I stand to benefit from it – only because I’m sharing something he said with my blog readers and newsletter subscribers. Wouldn’t you like people to do this for your brand?
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