#AskGaryVee Episode 29: Shifting Ad Budgets to Digital Video

– [Mayanmurfee] Ben asks, “What do you think about
recent Omnicom advice to move 25 percent of ad
budgets to online video?” – So for the small businesses
or the entrepreneurs, Omnicom is a big kind
of conglomerate agency in my VaynerMedia world these days and they do a lot of what’s
called working media, the dollars you spend for distribution. Not to create content. Something we do a lot in social channels but not on TV, print, radio,
all that kind of stuff so I just want want to set the
stage for that question. The thing that scares me with that general kind of statement is that when people think of online video, they think about spending five, 10 percent of the overall budget, let’s call it 100 thousand dollars, on the video production, the quality, the stuff and 95 on the distribution and then what they spend on, and maybe up to 80. Maybe 80 to 90. Let’s say 80. I want to be polite here
today in San Francisco because it’s got a little
bit more of a polite vibe than New York. Of that 80 percent, they pounded in right hook form. What does online video
mean to most people? Let me just explain what it means. It’s pre-rolls on YouTube where people tab out and don’t actually consume it. You go to espn.com and a video pops up and takes over 30 seconds of my time which pisses me off. And so what I’m most worried about when I hear people allocating and it’s part of the bigger story which is that people talk about moving TV budgets into other places. My problem is I actually like
live television commercials more than I like banner ads on websites and pre-roll video that’s blocking the user from doing what they want. So this isn’t about
traditional or digital. This is are you bringing value and when I hear move from television and put it into online video, what I know is going on in
actual practitioner world is people are spending
that money on online video that is annoying customers and putting it in places
where they don’t want it versus putting more
percentage of the money on actually creating great video and then figuring out a more native way to distribute it. That being said, Facebook dark post video native to me is a very attractive option, especially if you’ve been seeing it, the audio doesn’t play but if you’re into it, you click it. And so that’s my overall thought, which is that in theory it’s great that we’re moving traditional dollars here but I see a lot of people
misplaying digital. – [mayanmurfee] Laura asks,

“On Fridays, we drink wine. What’s a good drinking home alone bottle to yourself wine?” – Laura, I’m, Laura?
– [Voiceover] Laura. – Laura, I’m a big white wine fan and so the place where
I’m really obsessed with these days is Italian
White Non Pinot Grigio so NPG. And what I mean by that is look for things like Soave. Look for Greco Di Tufo. Look for Fiano. These other white varietals from Italy where a lot of people don’t know them. They don’t realize their quality. And I think between 8 and 22 dollars, you can get an enormous array of tremendous high acid quality drink by themselves but wait I’m drinking it by itself but now I want a little cheese still able to fold into that so Italian white wines to me are grossly and Stunwin because I know you’re
going to be with DRock, when you edit this episode, throw up a couple of logos of labels here. Actually take over my whole face. Show seven or eight
logos of Italian whites in that eight to 22 dollar range that people can slow motion this video and catch the name of or link it down below.

– [mayanmurfee] Matthew asked, “You talk about upcoming companies and predicting their success. Where and how do you find
these rising companies?” – Matt, this is why I love this damn show. We are getting into actual tangible stuff not just the sizzle that
I have to do on stage because I only have an hour and I got to make you pay
attention and then drill you. This is the quality of this show. Here are two tangible things
you should do every day. I’m going to add a third. Three things. Jason Hirschhorn. Pause because I was going to say Google it and then I wanted to say Bing it and then I got caught. You know I never get caught so little rusty here in San Francisco. Google Jason Hirschhorn. Media ref is what I think it is. He’s got a newsletter. Tremendous way to stay on top of it. TechMeme T-E-C-H-M-E-M-E Recode. These are two blogs that I think, well, TechMeme’s an
aggregator of all the news. I go there every morning to see what’s bubbled up. Recode I just like in general and TechCrunch, that’s mostly just solid but TechMeme aggregates everything so I go to Tech M-E-M-E every morning. I read everything. That helps me see things and then my littlest funnest hack. I go into the iTunes
App Store every morning, click the Apps tab and look at the top 150 paid and free apps on the iTunes store to get a sense of when
things are bubbling up. Both Yik Yak, Snapchat, a lot of these things I kind
of watched grow organically through that channel before the TechMemes and Recodes even wrote about them and so it’s about putting in the work. Those are your two tips of the day.