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If You Ignore This 2018 Marketing Strategy, You Already Lost | NAC Keynote 2018

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Transcript

0:00
(crowd cheering)
0:14
- Thank you so much.
0:15
First thing I wanna say is I love you back.
0:20
(crowd cheering)
0:22
Sit, sit, sit.
0:25
First thing I wanna say is clearly my mother snuck in here,
0:30
because that fucking intro was ridiculous.
0:34
I'm sorry you had to sit through that.
0:35
Fuck.
0:38
Jesus.
0:42
I'll get to it.
0:42
I'll get to it.
0:45
I don't have unlimited time, so I wanna get right into it.
0:49
A couple things I wanna talk about.
0:50
First and foremost, I am so fired up to be here.
0:54
I've never spoken in this market,
0:57
so thank you so much for the warm welcome.
1:00
(crowd cheering)
1:05
To be very frank, the thing that I'm thinking most about,
1:07
when I think about the lineup of speakers,
1:10
is why are you here.
1:13
To me, when you speak, what matters most
1:16
is can you bring value to the audience.
1:19
So I've been thinking quite a bit about this speech
1:22
of like what can I really touch on
1:24
that isn't available for free online,
1:27
that isn't something you've seen or heard before
1:29
and the reality is
1:31
is that's a difficult challenge
1:33
in a world where, very honestly,
1:35
there's not a lot that I believe in.
1:37
There's only four to six to nine things
1:39
that I really trade on
1:41
and those are the things that I wanna really reinforce.
1:43
First and foremost, the biggest thing
1:45
that I wanna make sure that everybody understands
1:47
more than anything ...
1:49
I just had a really fun strategy session
1:51
with a bunch of people
1:52
and when I think about what it was
1:55
that we just talked about for the last couple hours
1:57
is the fact of the matter is I truly believe
2:00
that every single person here today,
2:03
including myself, are grossly underestimating
2:07
how special today is,
2:10
how special this era of the internet at maturity is,
2:15
how special the opportunity is.
2:18
What is remarkable to me this morning
2:21
is that there is never ...
2:24
And I mean this.
2:25
Now, if you are somebody who watches
2:27
cable news all day, you may not agree with me,
2:30
but it is my absolute deep belief
2:34
that this is the absolute greatest era
2:36
to be alive in the human race.
2:39
(crowd cheering)
2:43
And I'll tell you why.
2:44
This internet thing,
2:45
it's bigger than you think.
2:47
This internet thing,
2:49
when you're older,
2:50
when our great, great grandkids judge us
2:53
and how we navigated through this era,
2:55
this internet thing is a much bigger deal
2:58
than we've been able to comprehend.
3:00
The internet, not Facebook, not social media,
3:03
not Instagram, not podcasting,
3:05
the internet is the single biggest invention
3:07
that has ever happened to the human race
3:10
and we, being in it
3:13
in the first couple decades of it,
3:15
are struggling to understand how big of a deal it is.
3:18
What I am completely fucking blown away by
3:21
is that there is nobody
3:23
and I mean nobody
3:24
who is a gatekeeper to the game anymore.
3:28
What is amazing to me
3:30
is that our great, great grandparents;
3:33
our great grandparents and our grandparents would laugh
3:37
at the shit that we cry about.
3:42
The amount of people
3:43
that get upset that Instagram and Facebook
3:46
changed their algorithm and cry about is fucking ludicrous.
3:53
It's free.
3:55
Facebook and Instagram are free
4:00
and we sit and cry about the change in the algorithm.
4:03
Here's where I'm at.
4:05
For this entire room,
4:07
the one thing that connects all of us,
4:09
whether you're an entrepreneur,
4:10
whether you work somewhere,
4:11
whether you're fucking thrilled,
4:13
whether you're devastated,
4:15
the one thing that connects all of us
4:16
is that for us to take the step
4:19
in what we're trying to achieve,
4:21
whether it's financial, whether it's legacy,
4:23
whatever it may be, the one thing
4:25
that connects us is we have to trade on attention.
4:28
The thing that I desperately want everybody
4:32
to leave this talk with
4:33
is understanding that attention
4:35
is just like real estate
4:38
and that attention
4:40
is the gateway drug to everything you want, period.
4:44
Before you can tell me how great you are,
4:46
how awesome what you're selling is,
4:49
you need my attention.
4:50
Before you can tell me anything,
4:52
you need my attention.
4:53
What everybody in this room needs to wrap their head around
4:56
is that this device owns the attention of our society.
5:00
You may be upset about it;
5:02
you might be sad that when you go out,
5:04
people aren't talking to each other;
5:06
you can do whatever the fuck you want,
5:09
it doesn't change the fact that this
5:11
has the attention
5:13
and if you are sitting in this room today
5:16
and you have not figured out how to put written words,
5:19
audio or video into the platforms that sit on top of this,
5:24
you are fundamentally irrelevant.
5:28
(audience cheering)
5:33
So
5:34
when you think about sitting here and standing here,
5:36
look, I have no interest in inspiring you for an hour
5:41
and getting you pumped and then next Thursday
5:43
you don't do shit about it.
5:46
That's not interesting to me.
5:47
I'll be very frank,
5:48
even with all these faces in the audience,
5:51
I'm looking for one person
5:53
who understands that this is such a remarkable time
5:57
and that you need to go harder at it.
5:59
Let me tell you ...
6:00
Let me tell you ...
6:02
Let me tell you the thing that upset me most in my intro.
6:06
I'm extremely proud, maybe more than anything,
6:09
that I went into my family business
6:11
and built my family business for my family.
6:14
I'm proud.
6:15
I love when people try to raz on me,
6:16
easy for you, you were handed three million dollars,
6:21
when they don't know my story.
6:23
What I was handed was my dad had a liquor store
6:24
doing 3 million dollars a year on 10% profit.
6:28
What I did was worked my face off 17 hours a day,
6:31
from 22 to 34, building my dad's business for my dad
6:36
and my mom and at 34 years old,
6:38
I left Wine Library day to day
6:40
with 0% equity in Wine Library
6:43
and no money in my bank.
6:44
That's what I did.
6:46
(audience cheering)
6:48
I'm proud.
6:50
If you're a child of an immigrant or great parents,
6:53
nothing is better than settling the score with your parents.
7:00
You can't zoom in, but the goosebumps,
7:01
can you just confirm this.
7:02
Real fucking goosebumps.
7:04
The best.
7:05
Meanwhile, when the intro came up,
7:07
the gentleman said, "He grew his dad's business
7:10
"from 4 to 60 million."
7:11
True.
7:13
Nice solid accomplishment,
7:14
also my greatest regret.
7:17
If I could do it again, businesswise,
7:20
I would have built Wine Library
7:21
from a 4 to a 250 million dollar business,
7:24
in that same time.
7:26
Let me tell you why and let me tell you
7:28
why it's the only thing you need to pay attention to
7:31
in my entire talk.
7:32
Let me break this down.
7:34
Get your fucking attention up right now.
7:36
I don't know if you like taking notes.
7:38
I don't know how you like to consume it,
7:40
but I promise you what I'm going to explain
7:42
for the next three minutes is the fucking game right now.
7:45
I
7:46
built my dad's business from 4 to 60 million dollars
7:49
with no money.
7:50
The business was doing 4 million dollars,
7:52
400,000 in profit before expenses.
7:55
We literally had no money.
7:57
You pay people, you pay your rent,
7:59
like nothing.
8:00
My first year marketing budget
8:02
in building Wine Library was $14,000
8:05
for the year
8:06
in marketing.
8:07
I was able to build it
8:09
in such a big way for three core reasons.
8:11
In 1996, nobody had a website.
8:15
That was a good idea.
8:17
Number two: I started an email newsletter.
8:20
For the youngsters in here, it's hard to understand,
8:24
but you have to understand people didn't even know
8:26
their own email when they would come into the wine store.
8:28
I'd ask them, "You wanna be in the email list?"
8:29
They'd be like, "Yeah."
8:30
I'm like, "What's your email?"
8:31
They're like, "aol@yahoo.com".
8:34
I'm like, "No fucker."
8:35
(audience laughing)
8:37
This was early.
8:39
This was early.
8:40
But I started and email newsletter.
8:41
How many people here have done
8:42
email marketing in their career.
8:43
Raise your hand.
8:46
I had 91% open rates on my newsletter in 1997 and 8.
8:51
Why?
8:52
Not because it was such good content.
8:53
All it said was buy this fucking Merlot.
8:56
It was because nobody else was emailing
8:59
and I bought that real estate cheap,
9:01
because nobody else was doing it.
9:03
And then the final point of
9:04
why I really exploded my business
9:06
was the day that Google AdWords came out,
9:09
I bought Google AdWords for my dad's business,
9:12
so I was the first result for wine
9:15
and cabernet and Napa Valley.
9:17
And while everyone else was doing direct mail
9:20
and advertising in magazines and radio,
9:22
I was winning Google, which went on to become Google.
9:26
Got it?
9:27
Let me now explain to you the number one mistake
9:30
every person in this audience is making right now,
9:32
including me, who's supposed to be fancy at this.
9:36
Every person in this place
9:38
is not producing enough content for social media
9:42
and is not spending enough money on social media ads.
9:46
Every person in here is not producing enough content
9:49
and not spending enough ad money on social media.
9:53
Because you have to understand what's about to happen.
9:55
Let me explain it real simple.
9:57
Right now, buying ads on Instagram and Facebook,
10:00
which is something everybody in here should be doing
10:02
at scale ...
10:03
And please
10:05
don't be that person who has run Facebook and Instagram ads
10:08
and not gotten results and deemed it not working.
10:12
The ROI of a basketball, to me, is zero.
10:16
The ROI of a basketball to Lebron is billions of dollars.
10:20
Let's be honest with each other.
10:23
How many people here have run
10:25
Facebook or Instagram ads and it hasn't worked.
10:28
Raise you hand.
10:29
Actually stand up.
10:30
I want everybody to see this.
10:31
Don't be lazy.
10:32
Do this for everybody.
10:33
Watch this.
10:35
Keep going.
10:36
Don't sit down yet.
10:37
Everybody look around.
10:39
All these people suck.
10:42
(audience laughing)
10:43
I'm kidding; I'm kidding.
10:44
Sit down; sit down.
10:49
Guys,
10:51
please understand this truth.
10:53
Everybody that stood up,
10:55
and I'm not joking,
10:57
you haven't made Instagram and Facebook ads work for you,
11:00
because you either hired somebody who's not good at
11:03
or you're not good at it.
11:05
This debate is not a debate.
11:07
They work and they work so well
11:10
that it's scary,
11:11
so scary that the fucking founder
11:13
has to sit in from of Congress.
11:15
(audience laughing)
11:17
Seriously.
11:18
I'm laughing at people.
11:20
People go out to dinner with me,
11:22
old CEOs, and yell at me for the first 30 minutes
11:24
that Facebook's killing our democracy
11:26
and then the next 30 minutes
11:27
tell me that it doesn't sell shit.
11:30
Like everybody's so scared of it,
11:32
yet you don't think it works to sell shit.
11:34
Guys, this is the most powerful ad product
11:37
we have seen since the early days of television commercials.
11:40
So when I see that many people stand,
11:42
please get educated.
11:45
You have to understand why it's so awesome.
11:47
You can run 25 and 50 dollars at a time,
11:50
to get a sense of if it's working.
11:52
Also, the biggest mistake in this room
11:54
is you're confused
11:55
between the business of branding and selling.
11:59
The number one basic issue in business right now
12:02
that I've been blown away by, because it came natural to me
12:04
and I'm like oh fuck, wait a minute,
12:06
people are confusing branding and selling.
12:08
The amount of people that just stood
12:10
that it didn't work for,
12:12
they spent money to make a transaction.
12:14
It didn't happen.
12:15
They stood up and said it didn't work.
12:18
What they don't realize is
12:18
first of all the creative is the variable.
12:21
If I stand up here today, I've got all of your attention.
12:24
That's a victory.
12:25
If this keynote sucks shits, I've accomplished nothing,
12:30
I've accomplished negative impact.
12:33
If you're disappointed of like, eh, he's not that good live;
12:35
eh, he's stupid; eh, eh, I lost.
12:39
This was a waste of time.
12:40
That's just like an ad.
12:42
You can get in front of me
12:43
at a good price, but if you're trying to sell me too hard
12:46
and you come off like a douchebag,
12:48
you've lost.
12:50
If you haven't convinced me
12:51
why your banana jelly is better than somebody ...
12:54
Jesus Christ, where does this shit come from?
12:56
(audience laughing)
12:58
What the fuck is banana jelly?
13:02
Somebody's gonna start a fucking banana jelly company here,
13:05
I know it.
13:07
If you haven't convinced me that your banana jelly
13:09
is better than my competitor's banana jelly,
13:11
then you're not gonna buy it.
13:13
Please understand this.
13:14
Let me break it down very simply.
13:16
It's why I set it up as the most important thing.
13:18
Everybody here needs to spend money,
13:21
whether you're a lawyer, financial advisor,
13:23
sports trainer, nutritionist,
13:26
if your company paves peoples' fucking driveways,
13:33
you need to run Facebook and Instagram ads.
13:35
It is the most underpriced attention in our society
13:39
and let me tell you why.
13:41
As I stand here today and regret
13:43
not spending more money on Google AdWords,
13:46
everybody in here will regret; in four years, I promise you,
13:49
if nothing else, I'm being very selfish right now
13:52
in this advice.
13:54
I'm being very selfish.
13:55
I'm making a very big deal
13:56
that you're not spending enough money in this platform,
13:59
because I want you to remember in four years,
14:01
when you don't spend enough money in this platform
14:03
and you actually have your eureka moment
14:06
and realize how right I was, I want you to remember,
14:09
fuck, I should have listened to Gary Vee in Florida.
14:13
Right now, Facebook and Instagram ads
14:15
run between three and eight dollar CPMs.
14:17
Between 3 and 8 dollars,
14:19
you can get in front of 1,000 peoples' screens.
14:21
Not 1,000 see it.
14:22
You know how you roll through your screen.
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