Gary Vaynerchuk (Wine Library) gave a speech at Web 2.0 Expo in New York where he shares KEY insights into the brand development process. In a nutshell, Gary points out how important it is to build a brand, but also illustrates how passion and transparency are both key essential ingredients to the brand development process.
In case you didn’t know, Gary has created an EMPIRE through homespun videos where he shares his passion for wine. His passion plus his blog has made him a celebrity around the globe. He’s done a GREAT job of building his own “brand” – so much so that he’s had over 40 offers for television shows as a result of his brand development process.
“If you’re pumping out good shit, people will follow. But if you for a second – for a 1/2 second – don’t believe in what you are doing … you need to get out, now.”
And that is a significant part of his message – but tucked away in the message are two other thoughts – both of which dovetails with MY two passions, which is building trust through transparency AND tightly targeting your marketing to focus on a specific niche market .
In the video, Gary definitely calls for transparency in social marketing as part of the brand development process. It’s for this reason that he insists that passion is CRUCIAL to successful branding in the age of Web 2.0.
We’re living in a No Trust Zone and transparency is crucial to the brand development process. If you think you’re going to build your brand without total transparency, pack up your bags now and go home. Web 2.0 is making the game of running a business as much about brand development as it is best business practices. (Read What Every Business Owner Needs to Know About Web 2.0 for more about how lack of attention on this front can be hazardous to your business.)
So, lesson #1 from Gary’s speech on the Brand Development Process is:
- be passionate about what you’re doing so you can afford to be transparent.
Lesson #2 from Gary’s speech on the Brand Development Process is to tightly target your niche.
In the video, he tells his audience not to try to compete with him in the arena of wine TV. Gary has that niche sewn up. He had Wine TV locked up just as Google has search locked up. Gary is going to have to either lose interest or quit trying for there to be an opportunity to compete on the Wine TV niche. He advises his audience not to try to take him on this front. However, Gary says there’s plenty of room for competition in the niches.
“There is an absolute opportunity for someone to come out with the Pinot grigio Hour. I’m serious, niches can go crazy!”
Be passionate – be transparent – target a niche. Oh, and apply doses of patience, persistence and effort on a regular ongoing basis. (Gary references his 18 hour days in the video – I believe him!)