The Secret to a Valuable Brand: Why You Should Stop Buying What Others Like
Episode
19 min
Read time
2 min
Topics
Productivity, Relationships, Startups
AI-Generated Summary
Key Takeaways
- ✓Brand Value Creation: Products gain value purely through branding and cultural meaning. Water was free until companies created branded bottles people pay for. Puma socks cost 37 cents to make but sell for nine dollars because the logo and brand positioning create perceived value that consumers willingly pay for through self-expression and identity signaling.
- ✓Event Activation Strategy: Design business events and brand activations around creating serendipity and relationship building rather than immediate transactions. Invite competitors, focus on delivering maximum value to attendees, and prioritize karma over short-term revenue. Humans detect transactional intent, so going completely the opposite direction builds stronger long-term business relationships and opportunities.
- ✓IP Universe Building: Launch with a large character universe from day one rather than building incrementally. VeeFriends started with 268 characters to enable decades of storytelling across multiple mediums. This approach allows strategic character selection for specific collaborations and messages, like using Accountable Ant to teach accountability or Forthright Flamingo for candor-themed partnerships.
- ✓Fashion Collaboration Speed: Prioritize fashion partnerships for rapid market entry and audience building. Fashion collaborations can reach market in six to nine months versus three years for animation or toys. Limited production runs allow testing multiple concepts quickly while maintaining exclusivity. VeeFriends has executed Reebok, Starter, Kim Shui, Carrots, and Vintage Frames deals within eighteen months.
What It Covers
Gary Vaynerchuk explains his approach to building VeeFriends intellectual property through fashion collaborations and cultural partnerships. He discusses how brands create perceived value, why he prioritizes intent over transactions in business activations, and his strategy for scaling character-based IP to teach values like accountability and patience.
Key Questions Answered
- •Brand Value Creation: Products gain value purely through branding and cultural meaning. Water was free until companies created branded bottles people pay for. Puma socks cost 37 cents to make but sell for nine dollars because the logo and brand positioning create perceived value that consumers willingly pay for through self-expression and identity signaling.
- •Event Activation Strategy: Design business events and brand activations around creating serendipity and relationship building rather than immediate transactions. Invite competitors, focus on delivering maximum value to attendees, and prioritize karma over short-term revenue. Humans detect transactional intent, so going completely the opposite direction builds stronger long-term business relationships and opportunities.
- •IP Universe Building: Launch with a large character universe from day one rather than building incrementally. VeeFriends started with 268 characters to enable decades of storytelling across multiple mediums. This approach allows strategic character selection for specific collaborations and messages, like using Accountable Ant to teach accountability or Forthright Flamingo for candor-themed partnerships.
- •Fashion Collaboration Speed: Prioritize fashion partnerships for rapid market entry and audience building. Fashion collaborations can reach market in six to nine months versus three years for animation or toys. Limited production runs allow testing multiple concepts quickly while maintaining exclusivity. VeeFriends has executed Reebok, Starter, Kim Shui, Carrots, and Vintage Frames deals within eighteen months.
Notable Moment
Vaynerchuk reveals his cereal product strategy involves weekly deliberation about which VeeFriends character to feature, weighing whether to create healthy cereal for coastal consumers aged 25 or sugar cereal for children aged nine, demonstrating how deeply he considers cultural positioning for each character deployment.
Episode Transcript
This is the Gary Vee audio experience. How do you assign value? What is value? I saw you had Puma socks and I my brain goes to those are 37¢ socks that he paid $9 for because it has four letters in the same order with the same logo, and it means something. So, you know, for me, that's just how the entire world works. Well, Gary, it is such a pleasure to be here with you today here at Art Basel. Thank you so much for your time. Happy to be here. Thanks for having me. You know, I I wanted to start off. For those here at Basel Yeah. Tell us about VSCO, you know, this event and and what you want people to to walk away with here. You know, in general, when I do things with my companies, whether it's VaynerX, which is the holding company that has VaynerMedia and Vayner3, which are two of the more prominent people playing it, V, or VeeFriends, which is my intellectual property NFT project. When we do things like Basil or, you know NBA All Star or Super Bowl or Cannes or South by, really what you're what I'm always thinking about is how do we reverse engineer, a scenario, an activation, a collaboration or an event space that creates serendipity, conversation, relationship building. I think of it from a karma standpoint. I think a lot about intent. I think too many business people and companies when they're activating at things like this are too transactional, right? Like we're gonna do this thing and we're gonna bring our clients and we're gonna get the money. I just don't think like, I think humans can sense that And so I kind of go completely the other way which is like, how do we do something that brings so much value to anybody that comes whether it's a personality that's there to mingle with other brands. Right. I mean I go so extreme as like inviting competitors to see if they can like steal our, like I get that crazy with it. So you know what do I think about? Like what's the punchline? The punchline is how much karma can you put into the system during a time where a lot of people congregate to the same area. Sure. And and turning to to the concept of of IP. Yes. You've been very vocal about that. How do you assign value? What is value when it comes to determining that perceived value from a consumer's perspective of any particular piece of IP that you have, whether it's VeeFriends, whether it's, you know, this NBA All Star. It's the only thing I think about. Like your Puma Sox. Like literally I already I saw I like when we were just I saw that you had Puma Sox. And my brain goes to those are 37¢ socks. Yeah. That he paid $9 for because it has four letters in the same order …
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