Business Tips: #AskGaryVee Episode 91: Pricing Sponsorship, Selling Merchandise, & Tim Ferriss Asks a Question

Business Tips: #AskGaryVee Episode 91: Pricing Sponsorship, Selling Merchandise, & Tim Ferriss Asks a Question

Awesome Tip: #AskGaryVee Episode 91: Pricing Sponsorship, Selling Merchandise, & Tim Ferriss Asks a Question



#QOTD: What is your favorite football team and who do you want your team to pick in this year’s draft?
Want to win a jersey from me? Make the right pick in the comments section and I just might send you one 🙂

#TIMESTAMPS
2:40 – Everyone visiting my site will be there for custom music. Should I delay them with content?
5:01 – How would you price sponsorship for your show? By number of views? Sales?
7:25 – If you were selling merchandise, like t-shirts, how would you go about it?
9:59 – Currently, what’s the biggest way that you’re critical of your own advice?
12:48 – In terms of distribution and promotion, how do you think TV shows will be launched two years from now?

#LINKS

To me, there is one simple way to sell sponsorships. And that is this: ask for as much as possible.

I’m not kidding. You don’t know what your ceiling is. If you go by CPM (cost per thousand impressions) and views, it really puts you in a tough spot. Why? Because views and impressions have commodified to such a level that you’ll never hit enough scale to match it. Most people are going to end up making $4 on their show if they go that route.

It’s the association that matters in the end. I don’t run ads on the #AskGaryVee Show, but if I did, I would expect pretty substantial bank. But that money wouldn’t be predicated on the 20,000 views I get per episode on YouTube, or the 50,000 impressions on Facebook. Not at all. The money would be predicated on the brand association. There is extra value in endorsing a product when you’ve never done it before.

So the thing you need to think about when considering sponsorship depends on what kind of show you have. If it’s a small business start-up, you need to negotiate. A price needs to be set, and you need to start high. I can tell you now that if you’re talking to a media buying agency, you’re already in a tough place because they are looking to buy scale. They are going to want to commodify your traffic. That won’t make sense for 99.9% of the people who have shows on YouTube or iTunes. Even if you have substantial viewership, those big agencies won’t make sense for you, for all the reasons stated above.

My advice for you is to go a different route when it comes to sponsorship. Don’t stay in the business of direct conversion, for one. What you want to be is in the brand association pricing. It’s about the fact that the brand chooses to be on the show, and that is what they want. The association. Not the conversions.

So: start high. Price high. Don’t ask for what you want. Double or triple it to leave room for negotiations. You can really miss out if you don’t do that. And be in it for the brand association, not conversion. Those are my big pieces of advice for getting sponsorship. Now, you just have to contact the sponsors. Start close to home, in your field; email every business that could have anything to do with your show’s subject matter. Every business. And ask. Bring value up front and don’t hesitate when you ask.

Gary Vaynerchuk builds businesses. Fresh out of college he took his family wine business and grew it from a $3M to a $60M business in just five years. Now he runs VaynerMedia, one of the world’s hottest digital agencies. Along the way he became a prolific angel investor and venture capitalist, investing in companies like Facebook, Twitter, Tumblr, Uber, and Birchbox before eventually co-founding VaynerRSE, a $25M angel fund.

The #AskGaryVee Show is Gary’s way of providing as much value value as possible by taking your questions about social media, entrepreneurship, startups, and family businesses and giving you his answers based on a lifetime of building successful, multi-million dollar companies.

Gary is also a prolific public speaker, delivering keynotes at events like Le Web, and SXSW, which you can watch right here on this channel.

Find Gary here:

Website:
Wine Library:
Facebook:
Twitter:
Instagram:
Medium:

Get More Life, Relationship, Yoga, Meditation, Home Schooling Tips Here: https://RockStarInLife.com

42 Replies to “Business Tips: #AskGaryVee Episode 91: Pricing Sponsorship, Selling Merchandise, & Tim Ferriss Asks a Question”

  1. Watching this two and a bit years later… interesting to see how the answer to Tim Ferriss's question has developed. I mean, Vimeo did actually do it's own thing but for indie filmmakers, and netflix became one of the biggest players, and in tandem Amazon picked up it's jam, the big players are kind of losing, except maybe for HBO?
    Wish the #GaryVeeTeam could pick up on this and get him to comment a bit. Cheers

  2. Huge, huge, huge answer about pricing for sponsorship GaryVee…. I run an online radio Network and have really focused on the brand vs listenership. I've always felt brand association was more valuable but wasn't 100% sure. Thanks for the tip!!! #the50yroldman

  3. yeaaaaaaah…I'm in the UK and don't watch American fake rugby. the only team I ever heard of growing up was the miami dolphins, my step dad is from texas though so I'll go with…the longhorns – I realise I'm too late, but I wanna comment on all the things.

  4. I loved that the beard is gone!!!! The best thing you have ever done on the show!!! Also, interesting contrast to have Tim Ferriss (the advocate for sitting on the beach drinking piña coladas and earning money) on the #askgaryvee show (the advocate for working your butt off!). @garyvee how do you compare the both of you?

  5. I have an idea i want to pitch to a company. I have planed out most of the logistics planed, i have a ball park figure it will cost them to invest into the idea, and i know how much i want to get this job done. The project would be longterm and i want to incorporate social media to advertise and document what we are doing. How do I be the most effective on social media and sell the fact that the social media WILL WORK?

    Cheers, 

    Patrick (not my youtube name)

  6. #qotd sorry man, can't help ya, the sum total of my football watching is the Super Bowl.

    I asked a question on Instagram on the pic of your book cover about what should/could be put into the early childhood environment to cultivate an entrepreneurial mindset and what should be avoided, and then I watched your self-awareness video on FB, and so now I'm thinking that's my answer. This is pretty cool considering that my focus is already psychology, with the purpose of helping people become more self-aware. Cool! Thanks and way to storytell across platforms!

  7. Gary – On the hypocritical question. I think you once said in one of your talks you thought youtube was going to die and not be relevant in todays marketing. However after a little gap after wine library you have come back with the Gary Vee Show – you are a hypocrite 🙂

  8. I saw you on the draft last night! LOL. AWESOME! Told my wife and it meant nothing to her. To me…. Kinda like a big deal! Keep doing your thing!

  9. That was some solid advice on YouTube Sponsorship. The other thing I would add to that is to be aware of what kind of upside/win-win you can create for the sponsor. You need to be able to justify and qualify what you're asking for if called on it. And know your numbers cold, especially the engagement numbers. A good way to measure this is a free service called TubularLabs which helps you breakdown your stats in a way that makes sense. I reference these stats and SocialBlade when putting together my pitches for brand deals and sponsorship.

Leave a Reply

Your email address will not be published. Required fields are marked *