Gary Vaynerchuk Shares 13 Minutes Of B2B Marketing Strategies | INBOUND

Summary

In this speech, the speaker reflects on their success in building a liquor business using Google AdWords, emphasizing missed opportunities due to not fully leveraging this tool's potential. They discuss the importance of being proactive and hands-on in marketing, especially in using Facebook ads for B2B sales. The speaker highlights the value of creative content in marketing and the need for a balance between branding and direct sales efforts. They stress that creative execution is crucial for capturing and retaining audience attention, advocating for a deeper understanding of both art and science in marketing strategies.

Takeaways

• 💡 The speaker emphasizes the importance of practitionership in creative abilities and paid media amplification to drive business actions.
• 📈 Google AdWords played a crucial role in building the speaker's family liquor business from $3 million to $60 million, though he regrets not investing more to achieve even greater growth.
• 🔍 The current best marketing arbitrage is on Facebook, especially for B2B clients, as it allows precise targeting of decision-makers within companies.
• 🚫 The speaker discourages the use of bulk email marketing on LinkedIn, advocating for more personalized and effective approaches.
• 💻 Practitioners should learn and execute Facebook ads themselves rather than outsourcing, ensuring they understand and can manage the process effectively.
• 🎯 In B2B marketing, targeting specific employees of desired companies on Facebook can lead to high engagement and conversions.
• 📊 The speaker highlights the importance of attention and creative quality in marketing, stating that creative is the variable of success.
• 📺 Super Bowl commercials and Facebook videos are identified as the top two marketing strategies for broad and impactful reach.
• 📈 The speaker believes that Facebook combines marketing, branding, and sales effectively, offering underpriced attention compared to other platforms.
• 🎨 Successful marketers need to balance art (creative) and science (data/analytics) to capture and convert attention effectively.

Q & A

What business did the speaker build using Google AdWords?

The speaker built his family's liquor business using Google AdWords, growing it from a three to a 60 million dollar business.

What was the speaker's strategy with Google AdWords that contributed to the growth of his business?

The speaker bought the keyword 'wine' for five cents a click, leveraging the arbitrage opportunity in Google AdWords to grow his business.

What does the speaker regret about his use of Google AdWords?

The speaker regrets not spending more money on Google AdWords, as he believes understanding the arbitrage opportunity could have grown the business to 150 million dollars.

What is the speaker's view on the current state of marketing in the B2B sector?

The speaker believes that B2B marketing is currently not utilizing the full potential of platforms like Facebook, and that there is a significant arbitrage opportunity in marketing for B2B.

What is the speaker's opinion on the effectiveness of bulk emails on LinkedIn for B2B marketing?

The speaker is critical of bulk emails on LinkedIn, stating that they are ineffective and that marketers should avoid this practice.

What marketing strategy does the speaker suggest for B2B businesses to use on Facebook?

The speaker suggests running Facebook ads targeting the employees of specific companies, using personalized creative content to grab their attention.

Why does the speaker believe that Facebook ads are currently underpriced?

The speaker believes that Facebook ads are underpriced because the full value of the attention on the platform has not yet been recognized by marketers.

What was the speaker's experience with email marketing in 1997?

In 1997, the speaker had a 200,000 person email newsletter for Wine Library with a 91.3% open rate, which was high due to the novelty of email marketing at the time.

What is the speaker's stance on the importance of creative content in marketing?

The speaker emphasizes that creative content is the variable of success in marketing, and that it should be respected and developed alongside the scientific aspects of marketing.

What does the speaker consider to be the number one marketing play today?

The speaker considers a Super Bowl commercial to be the number one marketing play due to its ability to capture the attention of the entire country.

How does the speaker view the role of creative content in the context of attention economy?

The speaker views creative content as the key variable that can convert attention into successful marketing outcomes, whether it's on Facebook or through traditional media like the Super Bowl.