Gary Vaynerchuk: There is a Social Media Bubble

May 14th, 2011 No Comments

Gary Vaynerchuk has been a social media superstar. Certainly no Luddite, he’s used social media — and most important useful content and real expertise — to real business success, both for his wine business and personal businesses. I first discovered Gary Vaynerchuk three or four years ago, when he was in the early days of Wine Library TV and reviewed some Israeli wine for the first time.

Yet, Gary has said that there is a social media bubble. 99.5% of those who call themselves social media gurus (a terminology I’ve long rejected) are “clowns.”

On a recent TechCrunch TV, Gary Vaynerchuk said: “we are going to live through a devastating social media bubble.”

According to Gary, 99.5% of “social media gurus” (A term I would get insulted if anyone calls me that) don’t know how to define real business value. It’s not about “likes” or “fans” but rather about business value. This doesn’t happen at once. It’s not viral. It’s hard work – Gary is known for being online at all hours and answering emails at 3 in the morning.

Social media performs business functions: it’s not a function in itself.

Social media is a tool, like a telephone. He’s repeating a message that I’ve advised clients for years and longed believed: There is a Social Media Bubble.

Social media is a tool to create business value. It’s a tool to show appreciation to your customers, help them with customer service, and provide real business roles.

Viral is not a strategy.

Are you hoping for the magic? Or are you focused on real, long-term business strategy.

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