Gary Vaynerchuk's Blog, page 18

Are Influencers The New Editors In Chief?

Influencer marketing is one of the most misunderstood concepts in business.

There is no doubt in my mind that influencers are the next editors-in-chief. Which is to say, if an editor-in-chief dictates what comes out of an outlet that is trusted, say a Washington Post, an ABC Worldwide News, or what was Life Magazine–that’s exactly what’s happening with influencers.

Now, that audience respects that human and that human is endorsing that brand.

Why Influencer Marketing Isn’t “Selling Out”

I would argue against the belief that influencer marketing is “selling out”. That, somehow, the audience doesn’t believe the influencer. I would argue, there’s an interesting depth and psychology behind influencer marketing. People that love somebody as an audience actively appreciate brands that subsidize that person’s life. Now, that influencer can continue to entertain or inform them the other 330 days a year. There’s a subconscious trade going on, between the audience and the brand that’s subsiding the livelihood of that influencer.

That brings almost a weird appreciation… like thank you _____ brand. If that brand wasn’t paying this influencer, they’d have to go back to working a regular paying job and their fans really enjoy their comedy, their looks, their information, and/or their content on a daily basis. 

How To Work With Influencers

With this in mind, there are a few things to remember when working with influencers. In general, collaboration involves three things. Number one, influencers are underpriced and overpriced so really do your homework on who the influencer is. Do they have a manager that’s asking for a big number or are they just a regular person? Can you compensate them with your product or service for free?  That is always a good trade. 

Next, I think the way to work with influencers is to let them have 100% control of the context of the content. I am consistently blown away by the naiveté of brands that try to dictate to influencers how they should make the creative. It always feels awkward, it doesn’t land, and it doesn’t convert–even if the influencer says “Yes.” A lot of influencers have gotten smart enough to say no. 

Number three. Volume of an influencer marketing campaign matters. I talk a lot about volume content because I’m blown away by many brands. They do a campaign with six influencers and then decide if that’s good or not. We live in a world where there are tens of millions of micro and macro influencers in play for almost any brand on the earth. So, that’s something. That’s part of the strategy people should think about.

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Why You Should Use Instagram’s Pinned Comments Feature

Instagram has changed a lot since its first introduction to the public in 2010. The platform is now available across all devices and it’s evolved to compete with up and coming challengers. Today, the User Interface now includes Stories and Reels, which is aimed to rival TikTok and other short-form video platforms. Additionally, there are now more features than ever before to help content creators connect with their audience.

We spoke with Gary Vaynerchuk about Instagram’s new feature, the “Pin” button. Often underutilized but always important, we’ve outlined why pinning Instagram comments is important and how doing so can help content creators grow their brands.

Team Gary: Why is pinning Instagram comments so important?

Gary: Pinning Instagram comments incentivizes thoughtful conversation. As we all know, the comments section can be a gutter of spam and very non additive remarks. But, if the creator is doing a good job of curating the right comments through the pinning, that person is  going to incentivize more people to be thoughtful and add value to the conversation.

[A content creator’s followers] are going to be selfish about wanting to get pinned. [It’s] because [they assume] they’re going to get more followers, metrics, and opportunities for themselves. This makes them better community members and makes [the content creator]’s overall profile a better world. 

Why is pinning comments better than going live with a fan,  or commenting on their followers’ content? Is pinning comments the best option?

I think both are necessary; [Content creators] should do that as well. Pinning comments is an extremely quick, very easy tactic for busy creators. It also allows that [pinned] comment to have the best positioning in the [comments section] because sometimes, even when you reply, it shows up at the top, it’s all over the place…this just guarantees exposure for the comment .

[Exposure] then leads to things–quote, unquote things–for the commenter.  Things like more likes, more followers, more “clout”. There’s a lot of us that just want to be picked by our favorite celebrity or influencer. A lot of us want 50 extra followers in one day, all because we got pinned. I like that,  for the creator, it took two seconds. 

Is that why you think Instagram created the feature? 

Yes, I think Instagram is smart enough to realize healthier more fruitful commenting makes the product better. 

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2020 Fundraising Strategies For Nonprofits

Those who undertake the noble effort to work within a charitable organization often feel trapped between the group’s greater mission and the need to raise cold hard cash so they can actually do the good work.  How are the rules the same and how are they different from the for-profit world?

Gary and his guests have debated and discussed this question for years. What makes a non-profit effective? How can NGOs  become self-sustaining and leverage the realm of social media? 

These questions are not new. They’ve resurfaced time and time again, most recently at VaynerX’s Marketing for the Now series, with no legitimate “quick” answers. Below are approaches from Gary and his guests to the most common question … “How do nonprofits make money?”

Question: What should an up-and-coming charity focus on to be successful?

Scott Harrison (Charity Water): Two things come to mind. One, get your business model around money. You don’t need to adopt the 100 percent model because that’s incredibly difficult. What you need is to tell people where their money goes. [Charity Water] is completely transparent with where our money is going. If [your nonprofit] needs money for a lawyer, there are people that will help you pay those legal fees, but you’ve got to tell them.

Number two is storytelling. You have to be telling stories about why your solution is the best one out of the gate.

Gary Vaynerchuk: Storytelling is it. What’s amazing about the internet is that you could be like Scott and I. You could put out a lot of great content that makes a collective dent. Or, you could be like Dollar Shave Club. The stories matter so much. 

The reason why Scott is so successful is because he leaned into self-awareness at a personal scale. When you have a certain level of charisma and authenticity and a way to communicate it in a way that touches someone, you have a way to recreate [Charity Water]’s kind of model. Lean into your self-awareness and strengths. 

How can nonprofits make heavy topics dynamic? 

Gary: The first thing you need to do is make sure you realize the content doesn’t have to be dynamic. 

Everybody thinks, “Oh how do we make it social? How do we make it fun?” Certain content has to be done a certain way. It’s contextual. [If] this is really hardcore stuff that you’re dealing with, I actually think the content needs to be educational without being too complicated. I mean, [if] it’s a depressing matter you’re not going to be able to lighten it up, right? 

You need to focus on what it is.  So, I would educate and create narratives through: white papers, infographics, slideshares, videos, pictures, quote cards, [anything] that actually educates the market. I don’t think it has to be dynamic, I think it needs to be truthfully and contextual to the platform. Is that a 45-second video on Youtube with the right tone music behind it?  Is that an infographic with the right color tones? 

I think subject matter and making it contextual for the platform are way more important than pigeonholing yourself.  In a world where you see other people having the option to be dynamic in the social media world, I think the best way to respect the content is to respect the content. I think that matters.

Question: How can a nonprofit with very (very) limited resources, quickly gain momentum and build revenue? 

Bob Wright (The Suzanne Wright Foundation): My sense is if you have a venture, and it’s got some complexity, you have to have someone that’s full time. Whether that person is paid or not paid is really irrelevant, if everybody’s a part-timer I don’t see how you get it done. 

Somebody’s always going to be looking at their watch, in terms of “I gotta go” … and it’s going to be hard to raise money that way. The other side of it is just as bad, where you take the money you raise and you pay two people that are average to be there all the time, now your energy level for the others [who work there] goes down.

You need somebody that’s going to be full-time on that issue, not part-time. We were able to pull together three different organizations with very little full-time people, but every time we got to scale.  I had to have somebody that was full time.

Gary: Listen, we’re not confused or tone deaf.  [Where you are financially] is always quite important. 

I think the thing to really think about is to get the word “quickly” out of the equation. Unless you have a miracle situation, where [your organization] becomes so culturally relevant that it goes viral, and everybody becomes aware and wants to donate (aka the ice bucket challenge, which people want to be cynical about, but the data’s very real)–that’s a virality that comes around once in a generation. 

 So we need to be more practical. Those people who work at your nonprofit, I’m sure they’re incredible. I would like to think  anybody who devotes their careers or all their time to a nonprofit is so passionate about that [cause] they can be patient during a five- to seven- to 12-year window. 

What about platform growth and building a relationship with your donors? What platform is best for new nonprofits to utilize? 

Gary: It depends on your audience. If your donors skew older, try Facebook groups. I would search Facebook and look for groups [that relate to your cause], and email the admin. See if those groups can bring some awareness to your nonprofit.

In the beginning, you have to ask. When you have nothing else, when you don’t have dollars, you have your creativity and your grit.

So, you have to ask, whether it’s influencers or Facebook group admins. 

Is there a difference between fundraising and sales? Do all or any for-profit rules apply in a non-profit setting?

Gary: The ironic thing is, they do map. If I ever get into a chapter of my life where that is the driving force I promise you my execution in that world will look exactly the same as everything I’m doing here. I do think the rules apply and I think there’s a nuance to address: the absolute respect to the customer. I believe that many people who operate in the NGO world have the audacity to think there’s an obligation from the wealthy or people they know, to support them. They come across as arrogant, I would say, as they go in for the ask. They’re less tactful, it’s all right hook city in NGO/nonprofit world. Then, when somebody doesn’t do something, they look down on that person even though the way they approached was completely unacceptable. 

The rules [of business] apply. You have to bring a value prop, way too many NGOs and nonprofits mail it in, they’re not thinking of that [potential donor]’s life, they’re just looking for dollars when life is about value exchange–even when you’re doing good things. 

Use bionic ears. Listen; and jab within the listening.

How do I “just start” to advocate for others and build the brand?

Jon Taffer (Bar Rescue): Advocacy and money don’t always travel hand in hand together. I know from one end, just my view, if you want to monetize you need money for charity. No money,  no charity. So, you start with monetization and then build to advocacy. I don’t think it’s the other way around, wouldn’t you agree Gary?

Gary: I think you should look under the hood. Do the thing before you talk about the thing … I’m a big fan of working for somebody who’s doing the thing you want to do. Pay your bills and learn the do’s and the don’ts of the industry, then use that platform to build yourself up. 

For more information about how nonprofits can grow in the area of Covid, check out these videos on fundraising and business growth .

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How To Balance Patience With Ambition: 3 Lessons From Tea With GaryVee

There was a theme for Wednesday’s Tea With GaryVee. Every hyper motivated guest this week was struggling to find balance between their high ambitions and the necessity of patience. Below, we’ve compiled some of the brightest, and most universal nuggets of truth from the latest “cup of tea.” Check them out below!

I want to grow my personal brand and share my experiences with other people. I have all this motivation and I love to work, but how do I find balance when I have so many passions and I want to make all of them big? – Anna

Gary: Patience. I also had all those things that I wanted to do, but first I created stability. The way I looked at it was to build a platform. Now, years later, companies like Empathy Wines and VaynerMedia continue to grow. 

When you have ambition it’s awfully hard to have patience. 

I feel like, for whatever reason, I was gifted with extreme patience and extreme ambition; I realize now that’s not as common as I used to think. What’s hindering [many people] is too much judgement on themselves and that comes from a lack of patience. Give it time. Things need time to manifest. Also, understand that some of the things you try may fail, and that’s okay. As long as you go about [pursuing your ambitions] in the right way, you’ll be in a really good spot. 

Patience is hard because it’s important. It’s the core ingredient to most people’s success. 

Who’s affirmation are you looking for? Take a breath and be grateful [for what you’ve already accomplished]. [Then], put your head down for a decade and put in work.  

Okay, I understand I need to put in work but I know I won’t be able to give 100 percent to everything I want to do…but I want to do it all . -Mahogani 

Gary: You can do everything you want to do, but understand that doing everything you want may not give you the financial impact you want. You might be wildly happier [without strong financial impact] but if you have financial goals, you need a stabilizer. Something you can do from 9am to 6pm that helps you accomplish your goals. It should be something you like, that may not be your favorite thing, but it helps you work toward your favorite thing.

You can have philosophical goals but you should have practical goals to help you achieve them. The philosophical goals only come if you execute them. There are many people who hit age 89 and they never reach their ideal goals because they never went operational. Instead of having excuses and regrets in your old age, execute your ideas now.

 Work for someone who already does what you want to do and learn from them. Something the shit you don’t like to get to where you need to get. 

Vaynermedia itself is me bearing it;  I didn’t need to build a business where I had clients yelling at me, there’s bullshit to deal with, and I didn’t  make a lot of money. Still, I knew I needed the foundation. I knew I needed to eat shit. I’m eating shit right now, even with all the leverage I currently have. The question is: how much shit are you willing to eat to get to where you want to be. 

Gary, what are some strategies you’ve used to disrupt traditional markets? – Alex Wang

Gary: The number one thing is patience. You’re going to have to play the long game. No one is going to disrupt all these big names in one day; it takes one decade or two decades or three decades. I’ve always had the long game in mind.

The number one thing is patience.
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Two, you need actual operational talent. No one sees me take calls at 8:30am or converse with executives in Dubai–but that’s what it takes.If you want to disrupt you need actual skill.

Three, you need to be a culturally lead CEO. You need continuity, you need the same people around you–you can’t spend all your time re-training. One of the things that’s worked for me is that I’ve built families at VaynerMedia and Wine Library. That matters. Being a true leader is having compassion and empathy. 

Finally, you have to be 100 percent consumer centric. Whoever brings the most value will win. Vaynermedia is doing more for certain brands than what our competitors are for the same amount of money. Wine Library had a better price for customers and had better customer service. It’s not super complicated.

Tune Into Tea With GaryVee, every Wednesday and Thursday .

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6 Ways To Be More Authentic On Social Media

Over the past five years, Gary has spoken, numerous times, about the ways content creators can balance their privacy and with delivering authentic content to their audience. We’ve compiled these tips to help you get out of your head and start focusing on your content!

1. Don’t Overthink!

“I think- human beings overthink shit. I think that is a fundamental problem. I think when we start coming from what’s authentic and what feels natural…the law I believe in, is that my mom and dad had sex and they created me–and I’m taking this DNA to the finish line. That’s the law I believe in.”

2. Your Content Should Be For Your Audience.

 “[In terms of business content] you need to do more how-to [content]. I get the flex of having more followers…but if you want to keep your followers you have to give them value. Show and educate them … It can’t be about you. What you really, really need to do if you want people to follow you [is] show them. 

Hear me. If you want to grow, make it selfless. This is where everyone gets caught.  How can I bring them the most value? Make it about them. You wanna be like me? Make it about them.” 

3. Post Only What You’re Comfortable And Confident Discussing.

You’re in control of what you put out. I share nothing about my kids, that’s how private I am. You are in control of what you say and what kinds of conversations you get involved with…and that’s that.” 

But isn’t that fake? I want to be real and authentic, not put on a show.

“That’s great, don’t put on a show. Be authentic and real in categories you’re willing to be authentic and real in. What I think [many people] are missing here is, you don’t have to be in every conversation. There are people who don’t even do social media because [they say] ‘Gary, I don’t want my shit out there’ … Then don’t post it.   

There’s subject matter that you don’t want to get involved [but] I never fear not being authentic because I’m always authentic. I just don’t go into convos where I feel like I don’t know what I’m talking about, or I just don’t want to share. I stay very narrow … and that’s it. [Look], any conversation you go into, you’re going to have judgement. But, if you come with good intent it all works out in the end.”

What if I’m trying to be authentic and put out content that aligns with my beliefs … and people use it against me?

“Then don’t get involved in things that could lead to that. Say things you believe in and stay in conversations you’re comfortable in. I don’t have healthcare conversations, I don’t talk about cryptocurrency [and] I studied sports cards for years before I started talking about it and putting out content. So, stay in what you know and say what you mean.

We’re going to live in a world where deepfake technology is so strong people won’t even believe in video. We’re going to have to have so much self love and compassion because people are chipping away and trying to divide [when] what we need to do is come together. 

I’m just not very interested in judging people, especially when we don’t have all the context. I’m very interested in loving people until proven otherwise. I’m compassionate, empathetic and sympathetic and I don’t need validation from anybody.  I’m in my own cocoon, and that’s what you need to practice. Period, end of story. 

If you know who you are, and your kids know who you are, and your parents know who you are [then] who cares what sammypants1996 thinks? 95 percent [of people] do feel things when somebody says something bad about them, but it starts with not getting too high in reverse. What people don’t realize, about me, is that when people say nice things about me, I get shy. I’m aware that I have good stuff going on [but] I don’t need [the praise].  I don’t need the accolades. Which is why I’m not vulnerable to criticism.  

I understand what my intent is. I understand that my Jersey-ness might be too crass for somebody, but I’m not going to change who I am because of the way [somebody] sees the world. I have respect for the way you see the world, have some for me?” 

4. Don’t Worry About Oversharing.

“I don’t think we, the people who put out the content get to judge what TMI is. The consumer judges what’s too much information. I’m a big believer in the market deciding and, I think, you learn what the market decides by listening to the market. You put out stuff and you see what they come back too. For example, for me, there’s a Vine that I put out where I’m shitting on a toilet — that might have been TMI for some people but I did it because I’m curious as to what TMI is for some people. It breaks down to two things: You decide, and then, the market decides. 

[Are] people engaging with your stuff? There’s a lot of [people] putting out content many would deem as too TMI, but the market sure likes it and if the market likes it and it works for them then you have to live your life.

We’ve seen a time where people thought Elvis shaking his hips was too much information, but I would argue that’s tame compared to what Miley Cyrus did at the [2013] MTV Music Awards. I would say that’s tame compared to what XYZ is going to do six years from now on whatever Netflix live show is around. I think things evolve, the market evolves. I really think of this as nothing [is] in the middle. You decide and then the market decides. 

You do you. There is nobody deciding besides you and the market.  There’s always this nice balance and if you’re fortunate and lucky [with] what you’re willing to put out [and] they’re willing to consume and agree with it, that’s the Mendoza Line we’re all looking for.”

 5. Be Humble and Figure It Out As You Go.

“So many of the things I say are contradictions. I think of life and business as a bridge: if you pull very hard [at both] ego and humility, or I don’t care what anybody thinks and I care what everybody thinks, or big picture and [details].  I like pulling from both ends. That’s where, I think, the strength comes in. I love pulling in opposite directions. 

If I’m giving advice … and things are coming from different angles that are contradictions, this is where you have to go within yourself and not listen to a “guru” because I’m not. Nor is anyone else. 

It’s on you to figure it out. It depends on what you’re trying to accomplish. It’s the strategy, the will, the interest of the content producer to make this judgement call. Content is going to find it’s audience, it’s in your best interest not to overthink in either direction.

Authenticity has nothing to do with the actions, it has to do with the seed of where this comes from.”

6. One More Thing About Humility.

“I’m humbled every day. Being an entrepreneur is humbling 24/7/365. Don’t get it twisted for all my bravado and all my ego, I live on humility because I’m losing every second there are problems. By the time I get off the stage I have 800 humbling moments in my phone; when you run big companies you’re humbled all the time. I love being humbled. I enjoy being humbled, that’s part of the process.”   

Hear me. If you want to grow, make it selfless.
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What You Should Think About if TikTok Gets Banned

There’s been a lot of talk about the possible TikTok ban and what effect it could have on the content creators who have built a base using that platform. We did some digging and found some advice Gary gave on this subject in 2017. Seeing how relevant this topic still is, we sat down with him and asked him to elaborate on his past points.

Team Gary: Can you reiterate what you noticed about social media platforms three years ago? 

Gary: [Sure], you can’t be reliant on just one platform.

You know this is deja vu. [It’s] 2004, all my friends are hitting me up [and saying] “Yo, Google fucked me. They did an algorithm change…I used to be the first result for hats. Now I’m page 19 and my business collapsed”. I’m like, “Yeah.” 

[Content creators must] build [their] brand and build other funnels. You never want to be at the mercy of a platform’s singular impact on your business. Now, you can also run short businesses where you extract the most [revenue/attention] you can from them, but this is why you always want to build the biggest brand.  You want to build multiple things. 

I highly recommend you build out of different places. 

Team Gary: How do you think your advice resonates now, in 2020?

Gary: I mean, everybody’s been talking about the TikTok ban, I’ve been talking about this, I mean honestly forever…this is just…the same old thing. 

Whether it’s the market that changes a platform–Vine gets bought by Twitter–that’s a business market dynamic that changed Vine’s [and Viners] career and history, or whether it’s another platform making a change [like] Instagram creating  stories which changes the Snapchat game, or whether it’s market conditions or political conditions, you know China and India’s tension leads to it being banned there and America and China’s tension is leading to a lot of the scenarios that we’re looking at now, [platforms change].

Please understand this.  The people, like Charli D’Amelio and all the others that crushed on TikTok (I see a lot of Jokes on social media like Now What LOL–what do you mean now what) they’ve exploded on every other platform because they’ve taken that attention. Where do you think all that attention goes, if TikTok actually gets shut down?

It goes to all the other places. Those eyeballs, those minutes, those hours they go to TV, or they go to audio and podcasts, or they go to Instagram Reels or Dubsmash or Triller.  The attention always goes somewhere else.  

Team Gary: What is your opinion on the constant change of social media platforms and the relative instability of being a content creator?

Gary:  What’s my opinion on this? Like, this is the way it’s going to be my whole life. I can’t control what I can’t control,  nor can anybody else that builds, you build on the attention when it’s there and then you move on. 

I fucking crushed direct mail in 1997.  I was sending so many postcards about wine you wouldn’t even know what to do with all that fucking paper.  I crushed Google search, I crushed I blew up on Viddler and Ustream…that’s where I come from. I don’t give a fuck about the platforms. I give a fuck about where the attention is that second. 

That’s what I speak about: I have no emotion towards any platform–NEVER HAVE,  NEVER WILL– I care about where people’s attention is and how do I bring them the most value.

 So you build a relationship, a brand, a reputation, and that’s how you play.

You never want to be at the mercy of a platform’s singular impact on your business.
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How Sports Cards Can Make Watching Sports Better

Gary has been ahead of the curve on a few trends. Most recently, he’s foreseen the explosion of popularity of  sports cards. The team sat down with Gary to ask him three questions about what this phenomenon means for fans of spectator sports.

Team Vee: What’s the biggest reason that sports cards are exploding in popularity now?

"I think one of the single biggest reasons that sports cards are exploding, and are about to really explode,  is because daily sports betting and daily fantasy [leagues] is a culture that’s really established [itself]  over [the past] 15…
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Gary Vaynerchuk: I think one of the single biggest reasons that sports cards are exploding, and are about to really explode,  is because daily sports betting and daily fantasy [leagues] is a culture that’s really established [itself]  over [the past] 15 years…if you look at fantasy sports and you look at DraftKings [and others].

Team Vee: Is collecting sports cards a wiser financial decision than, say, betting on the game itself?  

Gary:  I think that sports cards are a more financially sound way to enjoy a game that you don’t care about.  The downside of betting on a player who gets hurt or doesn’t perform [as well as you hope]  might be something like minus 20 to 60 percent, versus maybe 100 percent loss on the gambling game.  [To my point],  being right about Lamar Jackson last year and betting on the Ravens a lot…you might have done well for a couple of weeks before everyone else figured it out and the lines moved.  

Team Vee: Can you expand on that? 

Gary: The lines are built to be 50/50 at some level or even just more for the house right? But you being right about Lemar Jackson could have returned 20 times your money and so, I think,  that over the next three years people are going to get more educated that sports cards are a more financially sound way to get enjoyment out of games and I think you’ll see a lot of gamblers and causal gamblers switch to that behavior.

Team Vee: How would, or how has, sports card collecting changed the way you view spectator sports?

Gary: [Well],  I don’t care about the Chicago White Sox but if I–and I haven’t–[bought] 20 Eloy Jiménez rookie cards, I would watch White Sox games every day this summer. Or, at least, check in on the box score. 

For more on Gary’s thoughts on sports cards, check out these sources:

9 Factors To Consider Before Investing In Sports Cards

Sports Cards’ Value Will Explode

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Instagram Reels vs. TikTok: 13 Things You Need To Know

Facebook is preparing to launch its very own competitor to TikTok, Instagram Reels. Using the popular photo sharing platform as a testing field, Instagram Reels will have several, nearly identical, features that mirror TikTok’s; the Chinese based newcomer. It comes as no surprise that Facebook would attempt to replicate TikTok’s features and use Instagram for its initial rollout. So here are 13 things you need to know as the global rollout takes shape.

1. What Are Instagram Reels? 

Reels is a feature of Instagram. They will join the variety of options available when a user creates a story. You can find the feature by clicking on the camera at the left of your Instagram home page, then swiping right. Reels will have a short format limit of 15 seconds. Within that 15 seconds, users may edit their Reel by adding music (or original recording), changing the speed of their video, and/or adding filters (i.e. AR effects).  

Once a user finishes recording, they can add a thumbnail from their camera roll or edit the default thumbnail taken from their video. Similar to TikTok, a user can start and stop recording at their own pace. Reels are meant to encourage creativity with users comfortable with short-form video platforms. “The community in our test countries has shown so much creativity in short-form video,” according to Facebook, “and we’ve heard from creators and people around the world that they’re eager to get started as well.” Reels will  add to the large array of already established features that influences a user’s experience in the same manner of Instagram Stories, Instagram Posts, and Instagram Live videos.

2. When Will My Country Get Instagram Reels?

Instagram selected India to receive the feature, in beta, in early July of this year. This comes after the Indian government banned new user downloads of TikTok (and 58 other mobile applications) amidst rising tensions with the Chinese government. The ban left a vacuum for companies that wanted to capitalize on the creativity of short-form content creators. 

Similarly, in the United States, tensions between the US and China have risen. The U.S. administration has yet to make a decision as to whether TikTok bears a threat to national security and, therefore, should be banned. 

The U.S. is set to receive the Reels feature in early August. Instagram users in France, Brazil, and Germany already have it, while Japan, Mexico, and the United Kingdom join the US on a list of roughly 50 countries set to receive the feature in August.

3. How Do I Create A Reels Video?

The nature of Reels is very similar to that of TikTok and Snapchat, and this is not lost on Facebook’s leadership. Users familiar with making content on either platform might have little to no learning curve as the recording/editing function of Reels closely mirrors TikTok’s. Plus Snapchat has updated their own platform to  support similar short-form video content as well. 

“TikTok specifically has harnessed real consumer behavior, and done amazing things,” Facebook told Business Insider, “We’ve also seen the rise of short-form video on Instagram, and think we can create something in a way that makes sense for our community … this responsiveness to consumer demand is competition at work and one of the longtime hallmarks of the tech sector. It increases choice, which is good for people.” 

4. Where Can I Find An Individual User’s Reels?

If a user wants to find content from a specific creator, they can do so by going to that creator’s page and clicking on the Reels tab — similar to the way a user could find an IGTV video. 

5. What Will Reels Videos Look Like?

Instagram Reels will look similar to TikTok videos, save for one or two differences. Aesthetically, the logo is more muted and mature. A creator’s Reel collection will look similar to TikTok’s profile page for its users. The number of video views will be showcased in the left side corner. 

At the bottom left of a Reel, a user can like, comment, and/or share the video with other users on Instagram. At the bottom right, a user can see how many likes and comments the reel has already received. 

6. How Will I Know Which Instagram Videos Are Reels?

All Reels will be watermarked to differentiate between which posts are videos, live recordings or Reels. This ensures security for content creators and helps users navigate through this new feature. When scrolling through a feed or explorer page, the Reels icon appears as a small clapperboard in the left side corner. 

7. What Are The Differences Between Reels and TikToks?

There are some notable differences between Instagram Reels and TikTok. 

The most obvious difference between the two is that Reels are limited to 15 seconds while TikTok’s limit is 1 minute. Second is music, there’s no official statement on the type of music and audio that will be allowed on the platform. Facebook has stated that it’s launching licensed music soon,  but it’s unknown if it will be comparable to TikTok’s and or included in the Reels feature. 

8. What Factors Are Influencing The Reels Rollout To The US?

Facebook has been testing Instagram Reels in non-US markets, but the timing of the US rollout could not be more in their favor. 

TikTok is at risk for US erasure due to its review as a potential threat to national security.  The U.S. Administration has stated they will make a decision as to whether or not they will ban TikTok in the coming weeks. 

9. Why Is Instagram Reels Is A Big Deal?

Although TikTok has only existed globally for two years, it has already become a cultural staple for Gen Z. TikTok has more than 2 billion downloads and it has all but solidified its place as a social media titan. It outperforms a number of US based apps that attract younger audiences — including Instagram. In late 2019, TikTok dominated in downloads, beating Instagram by over 238 million users. It was the only app within Sensor Tower’s top five that wasn’t owned by Facebook.

 Facebook has already made a power grab for TikTok’s audience in the past with the failure of Lasso, an app that only received 600,000 downloads in its entire existence.  

If Facebook can replicate the success of Instagram Stories with Instagram Reels, it will put a ton of pressure on TikTok to maintain its growth.  

10. Is Instagram Reels The Only TikTok Competitor Emerging? 

Snapchat, YouTube, and an abundance of smaller competitors are also throwing their hats in the ring. Snapchat, which has struggled to maintain its users, is implementing a new navigation style that is similar to the vertical motion TikTok users are familiar with as they scroll through content. Public stories are now compiled in an endless scroll that allows Snapchat users to engage in content they do not actively seek, allowing them to discover new creators. 

Youtube is testing a feature that allows mobile users to create short, 15-second clips as well. Although the feature is not yet public, we know the differences include: users can string multiple clips together and multiple clips can be posted to the platform as one video. The feature is separate from Youtube Stories.

There’s no official statement as to whether Youtube will also provide AR features or an audio library for its users.

Smaller companies such as Dubsmash, Triller and Byte are also drawing former TikTok users. Dubsmash and Triller have attracted dancers while younger members of Gen Z seem to prefer Byte. 

11.Why Is Now The Perfect Moment For Instagram Reels?

Tik Tok’s demographic is significantly changing. The platform’s usage by  8- to 23-year-olds (Gen Z) is declining while users aged 24 to 39 (Millennials) use is on the rise. If the 24 to 39 demographic, who already make up a significant portion of Instagram’s user base, take their short form content to Instagram, Instagram has a chance to make a serious impact on the short-form content arena. 

Instagram could be the leading social media platform for generations to come.

12. How Is  TikTok Responding? 

In spite of all this, Tik Tok has launched a new platform called “TikTok for Business”. The move seems to directly target Snapchat (which offers AR ads for businesses) and Facebook (which also allows users to run ads on their platform. To increase competition, the app is also providing a new e-learning center which aims to help marketers make the best use out of the “Tik Tok for Business” platform. 

Rather than a wholly new feature,  “Tik Tok For Business” organizes the app’s businesses offerings under one umbrella. 

At prices that are comparable to Facebook and Snapchat, it’s possible this will be the move to keep TikTok afloat. Users will ultimately decide if Instagram Reels will be the next Instagram Stories — or a flop like the ill-fated Lasso. 

Ultimately, it is content creators who make each platform what it is.
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13. Who Will Win The Battle For Creators?

Ultimately, it is content creators who make each platform what it is. YouTube has been able to maintain its dominance in the digital space for years, in part due to its Partner Program which allows creators to monetize their videos. It’s this program that pulled creators away from Vine and onto YouTube, where they could be paid for their creative work.

In the past, TikTok has functioned more like Instagram in terms of creator support. Content creators could upload sponsored videos or earn money during a live stream, but there was no ongoing monetization program. Rather than share in Vine’s fate (which shut down in 2017), TikTok created programs to incentivize creators to remain on its platform.

At the end of May, TikTok announced a Creative Learning Fund for teachers on the platform. The fund launched with $50 million dollars, but this pales in comparison to its Creator Fund. The TikTok Creator Fund has launched with $200 million dollars and is open to all creators over 18 years of age, regardless of profession or video content (provided that it aligns with TikTok’s community guidelines). The fund is set to launch this August in the US.

With this fund, TikTok creators that are accepted into the program will receive regular payments over the course of a year. The criteria for acceptance into the program has yet to be released nor have specifics such when this program will expand globally or how much a single creator can expect to earn. 
Facebook on the other hand has reportedly offered millions to lure creators from TikTok to Instagram, according to the Wall Street Journal.   Facebook has asked TikTok creators to post exclusively on Reels or to post their content on Reels first, offering to pay for video production with the caveat that that creators sign nondisclosure agreements to keep details of the deal confidential.

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The $1.8M Lebron James Card: What Does It Mean?

“This moment will not only move the market for rare cards upwards — it will build intrigue among people looking for alternative investments, happiness, and interests,” Gary Vaynerchuk.
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“Whether it’s slime or sneakers, whether it’s esports when Drake and Juju [Smith-Schuster]  join Ninja on Twitch, whether it’s DJ Khaled on a jet ski or Ashton Kutcher challenging CNN to get to a million Twitter followers — every emerging consumer “thing” needs micro and macro moments,” Gary Vaynerchuk explains referencing what the recent record $1.8-million sale of a LeBron James 2003-04 Exquisite Rookie Patch Autograph card means to alternative investing. 

LeBron himself is having a macro moment. He is one of the greatest basketball players of all time and arguably the greatest basketball player this generation (younger millennials and Gen Z) has ever seen. It begs the question how will they react once they get older, and their desire to relive their pasts grows as fast as their bank accounts?

“This sale of the LeBron James card hitting every news outlet (cnn, nbc, abc, cbs, fox) over the past few days is proof. It’s another building block on top of a trend I noticed two years ago. The impact matters. So many people have reached out to ask me: What does this mean?” 

What does it mean when a basketball card purchased for roughly $50,000 is flipped for $1.8 million?

Photo Via Twitter. @darrenrovell

It establishes a new standard for modern, rare cards, says Gary, investing — an opportunity he’s touted with regard to Lebron James rookie cards since April 2019. 

“This moment will not only move the market for rare cards upwards — it will build intrigue among people looking for alternative investments, happiness, and interests.” 

“It’s amazing how life can go full circle. Over the last two and a half years, ( six months of studying and two years of executing), I’ve enjoyed sports card collecting and flipping so much. Although I haven’t exactly flipped my cards because many of the cards I sold were at [the] National … I couldn’t explain how fruitful the last 30 months have been. 

At some point I think the [trading card] market is too early to transact. [Right now], I’m buying stuff forever — [I’m] not really speculating on quick, little things. [Rather], I’m going deep on all-time stuff and I’m just obsessed with basketball and I’m really into wrestling as well. I think wrestling cards have a big opportunity to bring a lot of people joy.

It’s just so fun. Think hard about what you did from 7 to 17 — whether it was music, knitting, or video games. [For me, it resurgered] because my little guy kinda got into the same stuff [I was into at that age] and that kind of dragged me back in. The timing was perfect because [during] the last five years the sports card market was getting hotter than it was in the past and now watching the market is just insanity. 

I really genuinely believe that [the momentum] hasn’t even [really] started because sports cards are my generation’s art. I’d much rather have a really cool Wilt Chamberlain rookie card than a Picasso or an old muscle car.”

“There are plenty of people on Wall Street, more than you would think, that have turned a $50,000 investment into a $1.8 million investment,” admits Gary, but he counters that people who like sports and sports cards might have more fun flipping a card than investing in Wall Street.  

Gary asserts that  sports cards are having a moment right now. A macro moment. The young entrepreneurs of today are pivoting to basketball cards in a monumental fashion. However, it should be noted that it takes time to learn this game and it takes years to win. Sports cards can be an incredible alternative investment but please don’t become delusional and believe this is guaranteed. Above all else, sports card trading should be fun. You love sports? Consider getting into the hobby. 

So many people don’t follow their passions, he says. Instead of letting people tell you you’re too old to collect basketball cards—do what makes you happy and see how far you go.

There are so many different ways to make money. People turn their hobbies into incredible money making opportunities every day. Alternative investments are great ways to lean into your skillset, you just might become the master in a domain you haven’t dominated since you were a kid if you re-educate yourself and do your research.

“So, anyway, debate your 7- to 17-year-old self [about] what you were into. For me it’s [always] been a side hustle. [Flipping is] something I enjoy but I’ve begun to think how I can go deeper. I stay up until 2am looking at eBay auctions trying to figure out what’s the angle? What’s underpriced, what’s going to be cooler, which player is going to be better, which player is underrated. What a joy.”

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9 factors to consider before buying sports cards

Sports cards are an extremely fluid marketplace that is clearly in a hot moment right now.

This was happening long before I started talking about it. It was brewing. When I went to the Cleveland National three summers ago, I went very quiet and just listened. It was very clear it was “happening.” 

And like every market, things go up and down.

So, if you think this is a “get rich quick” thing or that it’s super easy – or that you’re just going to buy what I tweet about or what other people tweet about and it’s going to be your retirement fund, you’re in for a rude awakening. 

First of all, this is a hobby – which means people should just be in it for the fun. But as a business, it is very volatile. It’s up and down. And it’s definitely something that you can lose a lot of money on if you’re not educated.

And I do think it’s a hobby that requires 50+ hours worth of studying the grading companies. For example, there are different elements to look at – buying raw and selling raw, buying raw and then getting it graded, which grading companies to buy, which grading companies are going to matter in 10 years vs which matter today, etc. 

Also, athletes get hurt. For example I was obsessed with Derrick Rose – I would have had hundreds of thousands of dollars put into Derrick Rose cards, and then he would’ve gotten hurt and never come back the same player. Things change. Players change, legacies change. Sometimes people forget about great players.

So there are a lot of vulnerable aspects to this business, but no question, the gambling aspects that the cards companies have manipulated by creating “limited edition”, the culture of buying and selling on the internet through eBay and StockX, the coolness factor, etc all make a difference. The fact that Giannis shared his own cards on an Instagram post, and that LeBron commented on a post about his card auction also make a big difference. 

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There’s a lot happening and there’s much you should know, and I’m not the expert of the things you should know, but I am obviously passionate about it. I used to be very “in it” and was an expert, and I’m definitely paying very close attention the last two, three years. 

Here are some factors I’m thinking about:

1. Raw vs Graded

For the record, I’m not somebody who buys a whole lot of raw because I don’t understand how to grade on the eye and don’t have a grading infrastructure. 

I’ve worked hard for 25 years to have the financial capability of spending time in graded cards more than raw. But 15, 20 year old me would have lived in raw. I would have known how to look at it and grade it. It’s where I would have made all my money, and it’s an incredible place when people have time and have more limited budgets. 

I also think buying raw and selling raw is a great opportunity as well in this market.

2. The Grading Company

Right now, it’s PSA, one; BGS, two; SGC, three. 

But that can change over time. 

I think the grading company is a really fascinating debate because I could see in 12 years from now, a different brand being number one, and then if you overpaid for PSA and you underpaid for SGC, it would make a difference. 

There could be innovation. Somebody could use technology to take the human element out in seven years, and create a grading company that you put the card through a machine. 

There might not even be a human involved in the grading process, and it could become a dominant player as a grading company. So, there’s a lot to the grading card thing. Right now it is the absolute currency of the industry on the premium end and may continue so for a while.

3. Emergence of older brands

It’s also important to understand the landscape of exclusive rights.

Right now, Panini has basketball and football; Topps has baseball. In six or seven years, that may change. For example, there are some “weirder” cards made by other companies like Nike. I think those are worth paying attention to. 

4. Player rankings

Whether it’s a list like this ESPN list that I’ve been focused on for basketball, or if it’s other lists that rank all-time best players, those do matter. If Ronald Acuña goes completely ballistic for the next seven years and is widely considered the best, or one of the five best baseball players of all time, that’s going to matter. It’s no different than the way it’s mattered for Mike Trout, Tom Brady, and LeBron James in their card value.

5. Player talent

What I love about sports cards is the challenge of seeing whether I’m right or wrong about a player. That’s super fun. 

Here’s one: I didn’t think Patrick Mahomes was going to be this good. I thought he was a gunslinger, that he was going to throw a lot of picks. And so for example, if I was hardcore into cards, when Mahomes rookie card came out, I would have bought none. That would have been a really, really, really, really bad idea. 

And at the same token, I was super right about Giannis and Luka.

So, your talent evaluation is a humongous variable. That’s why I like going with vintage, and players that are iconic and without much downside. But I’d be lying if I didn’t say it’s exciting to figure out which NBA rookie is the next big one. Is that Colby White? Is that Jaren Jackson? Is that Tyler Herro? Is that De’Aaron Fox? 

That’s a really fun part of the hobby and there’s a lot of money made and lost in it.

6. Player’s life off the field

This is a huge thing that I’ve been spending a ton of time thinking about. 

For example, Devin Booker dating Kylie Jenner: what does that mean to his cards? What does that mean to his clout? Dwyane Wade, Deion Sanders, and Shaq and Barkley being cultural figures now vs other athletes that “disappear” when they retire, like a Tim Duncan. What variable is that? What does that mean? I think there’s an underlining opportunity there. It’s something I’m still fleshing out.

7. The player’s team 

Major markets matter. When you win with the Yankees, the Lakers, or Celtics, it just matters. I do think that that’s something people should take into consideration. 

That also doesn’t mean you can’t excel as an individual athlete. I wouldn’t say the Anaheim Angels are the hottest team, but Mike Trout is “the guy.”

And so, Ja Morant is in Memphis, but I think if he ends up being who he looks like he might be, it’s going to work out, or he’ll sign his second contract in a big city.

8. The rookie card

One of the things I’ve been most fascinated about getting back into cards the last three years is that the “rookie card” changes.

When I was into cards, the Donruss rookie card was the rookie card, and now sometimes it’s the Upper Deck, or on and on. One of the things I spend a ton of time on right now is, is Prizm going to be the rookie card or is Optic going to be the rookie card? Or is the new Mosaic going to be the rookie card in 15 years? That led me to really look at weird cards that were made prior, like the Elvin Hayes Jack In The Box rookie card. Can that be the rookie card instead of the Topps?

Could the JMS Charles Barkley be the rookie card before the Fleer card? These are some of the things that I’m debating over the next 30 years. Can the rookie card change from one company to another, or some of the weird sets that were made prior to the rookie card? 

9. Overall market behavior

There will be a ton of money lost by people that read this article because they become “loose” – they go into gambling mode, they don’t do their homework, and they’ll lose.

You have to understand that macro markets go up and down, and please, please don’t become delusional that this is guaranteed. 

Spend some time educating yourself by looking at articles online, population reports, forums (like Blowout Cards), and just really thinking about this.

The world is getting smaller with FedEx, eBay, other platforms, and China is getting more and more serious about basketball. That demand market will be a huge factor. Soccer, basketball, and even wrestling really have huge upside in my opinion – but like I’ve said before, always look at the macro economy, as sports cards definitely aren’t a top need for most.

However, it’s stunning to see what is happening with cards – just Google : “sports card industry” and hit the “news” tab and read articles in the last 3-6 months.

It’s happening.

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