VaynerMedia CEO Gary Vaynerchuk made a blunt case for a fundamental marketing overhaul, arguing that large brands are hemorrhaging cash by ignoring the mid-funnel.
Touts Social Media Production
“Every brand on earth should be spending 20% of their entire marketing budget just on social media organic production,” Vaynerchuk said during his appearance on an episode of TBPN released on Friday.
He added that marketing teams at Fortune 500 companies are “wasting 93 cents of every dollar they spend,” remaining focused on upper-funnel sponsorships and outdated A/B testing approaches from 2016, even as the mid-funnel has become dominant.
Using the podcast itself as a real-time example, the entrepreneur explained that the conversation would be broken into organic social media clips, allowing audience engagement to determine what …
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