Keri and I closely watch Grant Cardone and Gary Vee.
We’ve met with both Grant Cardone and Gary Vee in recent months. We recorded a podcast with Gary, and then we saw Gary again at Agent2021. Grant Cardone spoke at our first Hyperfast Sales Bootcamp, and we attended his 10X Growthcon 3.
It’s always interesting to note how Grant and Gary speak differently about similar topics.
Gary Vee’s angle for entrepreneurs is to give away tons of free value to your audience now and monetize later, after you’ve built a huge audience and a lot of good will.
Grant Cardone’s angle for entrepreneurs is: Monetize now. You’ve got bills to pay.
So who is right?
Grant and Gary came up in different time periods and did things differently. Grant’s at a later stage of his career; Gary’s at an earlier stage. Let’s look at both in a little more detail.
Gary Vee’s Career so far
Gary started his career by taking his parents’ wine business from $3 Million to $60 million. He had a large war chest I’m sure after that. It only got better when he had some success with tech startup investments in Twitter, Snapchat, and Uber.
Gary is more slanted toward long-term profits. He doesn’t need to monetize right now; he says you should lower your standard of living; take less now so you can take more later. A lot of his strategy involves branding and awareness.
Gary’s approach: build a big following and then capitalize on it later. When you watch what Gary says to his audience, he’s often planting seeds for things he wants to capitalize on later.
Gary’s recent comments on home ownership are an example. What’s Gary planning?
Grant Cardone’s Career so far
Grant is a little different from Gary; Grant put off going public for a long time. He spent 30 years in the multi-family real estate industry; buying apartments; buying multi-family homes, having immediate cash flow.
Only recently did Grant start to partner with larger groups and raise money from outside. Grant didn’t really surge in his popularity until the past four to five years.
Grant’s approach: If you’ve got bills to pay, monetize now.
Let’s look at the marketing efforts Keri and I make for our real estate business through this lens of Gary Vee’s long-term approach versus Grant Cardone’s immediate monetization.
The localized content that Keri and I put out — that’s interesting to our audience, but doesn’t really talk about buying or selling a home. I’d call that branding and awareness, much like what Gary talks about. Eventually when it’s time to sell, the audience for these branding and awareness pieces will think of us.
Meanwhile, some of the funnel ads we run are designed to get immediate sales, like Grant Cardone suggests. Funnels often work better if you minimize the branding and focus on solving the prospect’s problem.
Who says you have to choose only short- or long-term business? You can split between investing in long-term business and investing in short- to medium-term business.
Both Gary and Grant have a point. I don’t think we need to pick one or the other; there’s room for both strategies in your marketing mix.
Here’s what’s worth thinking about: What’s the balance in your marketing mix between long-term brand awareness and short-term business?