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Gary Vaynerchuk’s Weekly Wrap-Up (2/19/15)

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For this installment of Gary Vaynerchuk’s weekly content wrap-up, we’re going to start with his article entitled โ€œWhat You Don’t Understand About Fine Wine Might Hurt Your Businessโ€ Gary talks about something he’s an expert at which is fine wine. He says that maybe the reader thinks that high-end wine is a total hoax; that it’s all made up and the entire market is a fraud. After all, he says, if you can get a decent bottle for $15, why pay more? Well Gary says that fine wine is just as much a hoax as the art world is โ€“ in other words it’s not. He explains by stating that if the demand for a product is high enough and supply low enough, the cost is driven up which makes total sense. It’s all about perspective, according to Gary but mostly it’s context.

In the video โ€œPodcasting, Building Legacy & The Chamber of Commerceโ€ Gary was asked whether there was a risk involved with giving away one’s best work for free. His response was yes, of course there is. He goes on to say that giving away amazing work for free has been his โ€œgateway drugโ€ to so many great opportunities. He says if you are going to give your work away for free, you’d better have a good strategy behind doing so. Gary says that everything he gives away for free has strategic purpose and that he understands why he’s doing it. Gary says that you have to receive some type of value for giving your work away for free. He goes on to say that if you do give your work away for free say five times, it may actually result in you getting value from it three of those times so don’t focus on the two times you didn’t.

In the article โ€œThe Ghost Is Growing Up: Why You Need to Pay Attention to Snapchatโ€ Gary says that Snapchat is a platform that is quickly gaining traction, making it important for marketers to get into using this app before they miss their chance altogether. As a strong advocate of Snapchat since its early days, Gary says that when you see a platform gain 50 to 100 million teenaged users, that platform will eventually โ€œage upโ€. In other words, those young people using this app will graduate and then start their adult lives and that Snapchat is going right along with them on their journey because it’s an app that allows them to communicate with the largest percentage of their social graph. Gary recommends paying attention to Snapchat’s Discovery feature and how people are consuming content there. He also says that if you are interested in marketing to 20 year olds over the course of the next two to three years within a mobile environment, using that cadence and feature set could very well be a great place to begin.

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