Gary Vaynerchuk, co-founder of Resy, discusses the ‘profound’ changes in advertising

Gary Vaynerchuk, co-founder of Resy, discusses the ‘profound’ changes in advertising

In a recent interview at the Cannes Lions festival, VaynerMedia CEO Gary Vaynerchuk shared his thoughts on how social media algorithms have transformed the advertising landscape. Vaynerchuk pointed out that in the past, brands would focus on amassing followers and then post content hoping that a percentage of their audience would see it. However, in the current era of social media, AI algorithms dictate what content is shown to users on platforms like TikTok’s “For You” page.

Vaynerchuk emphasized the meritocracy of content creation enabled by these algorithms, highlighting the ability for anyone to create a viral video without needing to pay for amplification. He believes that the industry needs to shift its focus from traditional advertising formats like print ads and commercials to embrace the art and craft of social media advertising. By doing so, brands can connect with consumers in a more authentic and engaging way.

Vaynerchuk’s insights are especially relevant as the advertising industry grapples with the changing digital landscape. As startup brands leverage social media to gain traction, established companies risk losing market share if they fail to adapt to these new paradigms. Vaynerchuk’s message serves as a call to action for advertisers to embrace the power of social media and harness its potential for brand building.

At the same event, X CEO Elon Musk made waves with his address to the advertising industry. Musk clarified his previous controversial remarks, stating that his stance was in defense of freedom of speech and against censorship by advertisers. He emphasized the importance of allowing diverse opinions on social media platforms while respecting advertisers’ right to align their brands with compatible content.

Overall, Vaynerchuk and Musk’s speeches at Cannes Lions underscore the need for the advertising industry to evolve in response to the digital age. By understanding and leveraging the power of social media algorithms, brands can create more impactful and authentic connections with consumers, ultimately driving success in an ever-changing market.