The 1 lesson Gary V taught Fortune 500 companies
You probably know Gary Vaynerchuk as ‘Gary V’, and have heard some of his motivational advice, often disseminated in soundbites through social media platforms.
But real fans would know the serial entrepreneur also has his own media organisation, VaynerMedia, a digital agency that helps big corporations like Pepsi Co, Toyota, Unilever and Johnson’s reach even bigger audiences.
And this year, he’s had a few sage words of “wildly successful” advice for these conglomerates navigating the online shopping boom triggered by Covid-19.
“E-commerce became all the conversation immediately with Covid,” he told Yahoo Finance US’ All Markets Summit.
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Vaynerchuk’s aim was to help businesses get onto newer, “more nimble” shopping platforms than the legacy software some Fortune 500 companies were on, he said.
And that meant finding a way for these huge companies to sell their products directly to the consumer.
“I think the biggest thing that we've taught the Fortune 500 landscape right now in the early days is you can do it yourself,” he said.
“You don't need to be on Walmart and amazon.com, though those are incredible partners, along with target.com. You – you can do it. You just have to do it right.”
And there is a misconception that big businesses have to spend billions of dollars on acquisitions to incorporate smaller, more agile companies or platforms, he continued.
“But you have to act like them not act like yourselves are built to stack it high and let it fly,” he added.
“You're gonna have to go consumer up and make the economics work. And so far it's been an extremely fruitful venture.”
Gary V spoke at Yahoo Finance US’ All Markets Summit. For more exclusive Yahoo Finance content, view it all here.
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