Gary Vaynerchuk wrote this on LinkedIn. I wanted to respond.
“Massive brands and companies around the world are starting to decline and go out of business”
“because they are over-investing their time and money into old media advertising like magazines and TV”
Citation needed. When you look at the neutral, objective data, TV is as popular as ever.
“which simply isn’t practical.”
“If you are trying to grow your brand and reach your target audience, you need to pay attention to where their attention currently is”
And every single marketing segment in the entire world is using only digital channels?
“People aren’t reading magazines and newspapers as much as they used to”
Citation needed. I just wrote a column analyzing data that shows the exact opposite.
“instead people are reading Facebook posts and looking at photos on Instagram.”
Every single marketing segment is doing that? I have done much research to show that very small percentages of the markets of brands are following them on social media. And I noticed that your statement does not mention that they are looking at ads specifically at all. Furthermore, how effective is the view of an ad on social media compared to the view of the same ad on TV? Spoiler: A lot less because of passive and distracted viewing.
“If you don’t adapt, you will lose.”
Yes, because chasing the shiny object of the day is always a brilliant marketing strategy.