Vaynerchuk helped grow his family business, Shoppers Discount Liquors in Springfield, NJ, from a $3 million retail store to a $60 million success story. And he says social media was only part, though a very important part, of the process.
As Vaynerchuk recalls, it didn’t start with a video blog or the trendy social sharing so often talked about today. It started with good old fashioned sales and customer service.
He explains:
“That was done through operations. That was me on the floor selling more. Then the website kicked in the momentum in 2000, 2001, 2002. Then search marketing 2002, 2003, 2004. Then kind of like just fixing, getting better at it in 2004, 2005. And then in 2006 started Wine Library TV which took it to the next place. And the reason it gets so much credit, even from me, is I went from spending millions of dollars, right? To spending no money, and using these new tactics, which is why I knew they would work for big brands.”
And herein lies the real power of social media, Vaynerchuck argues. Far from the only tool at an entrepreneur’s disposal, it is one of many, he says.
After spending plenty on rebranding, eCommerce, TV commercials and ads in the New York Times and Wall Street Journal, social media was something new.
No, social media was not responsible for all the growth at Wine Library, Vaynerchuk says. But it was a way to cut costs even if it took more time. Because most entrepreneurs, he says, have more time than money.
Source: http://smallbiztrends.com/2014/06/value-of-social-media-marketing.html
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