Every January, the National Retail Federation (NRF) hosts Retail’s Big Show in New York City. In one of the breakout sessions at this year’s show, serial entrepreneur and marketing expert Gary Vaynerchuk discussed how social media has shifted, and how businesses need to update their social strategies and tactics to keep pace.
While this was obviously an event aimed at retailers, Vaynerchuk’s valuable advice would be helpful for most small business owners.
The challenge is to break through the noise in today’s “crowded attention economy” so you can “get and keep customer awareness.” Vaynerchuk says businesses can do this “whether by capitalizing on social media trends or creating viral YouTube videos” that attract countless views (a Vaynerchuk specialty).
One factor that helps small business owners know what to do, Vaynerchuk says, is that “Creative is now measurable. The greatest thing about social media right now is that the AI algorithms, as written, are based on relevance.” Which means social media success is measured by the popularity and relevance of your individual posts, and not by how many followers you have.
Vaynerchuk says this algorithm shift—from prioritizing wide networks to prioritizing individual interests—has forced retailers to change their success metrics. “Everybody’s number-one measurement needs to be views achieved by the creative in your social output across the seven or eight social networks, monthly, gross and per post,” Vaynerchuk explains. And “that becomes the starting point to understanding how your marketing mix can be successful.”
RIP, the age of social media
Vaynerchuk proclaims that the era of social media is over and that we now live in the “age of interest media.” He explains, “We’re now down to a place where the individual piece of creative gets the reach, not how many followers you have.” This allows businesses “to build brand loyalty through relevance. If [a consumer] sees something that’s relevant to [them] over and over and over again, you start to create loyalty. Now [they’re] like, ‘Oh, this is a brand I like. They talk about things I like.’ And all of a sudden, you’ve gone from brand to acquaintance to friend.”
And this, Vaynerchuk explains, is why retailers need to be on all platforms: “We are in complete relevance warfare.” Committing to “organic search at scale” helps build relevance and awareness [where] the sky is the limit.
It’s important to remember the NRF show focuses on retailers of all sizes, and having a presence on all social platforms might be too big an ask for small businesses. But you should test the platforms to see which works best for you (for instance, Pinterest is having a revival, thanks to Gen Z). You should test content, as well.”
What is live social shopping?
Vaynerchuk touted live social shopping as a platform with a lot of potential, pointing out that Whatnot, a live streaming e-commerce app, “sold $7-$10 billion in gross merchandise value last year.”
“Live shopping is attention,” he says. “Consumers see something, and they act on it. It’s a frictionless environment. It’s in your feed. It just shows up. It’s easier than any other e-commerce.”
Just what is live shopping? Shopify explains that “live shopping is a marketing strategy based on livestreaming, where a host presents products and viewers can purchase those products in real time.”
It “merges the best of offline and online shopping experiences, making a purchase about more than just the transaction: it’s engaging, fun, and can build long-term trust.
“Live shopping gives [businesses] a chance to interact with their customers and their target audience on their own websites and social media channels.” Influencers and consumers can get in on the action by livestreaming on platforms such as Amazon Live and Poshmark’s Posh Shows.
Shopify says the live e-commerce market in the U.S. is expected to reach $67.8 billion this year, double 2023’s revenue.
If you want to learn more about the hot small business trends for this year, join me tomorrow (Thursday, January 29) at 1 pm ET for a FREE webinar from SCORE. Plus, you get the slide deck, which is like a Trends 2026 guidebook. Sign up today!
Rieva Lesonsky is the founder of Small Business Currents, a content company focusing on small businesses and entrepreneurship. You can find her on Twitter @Rieva, Bluesky @Rieva.bsky.social, and LinkedIn. Or email her at Rieva@SmallBusinessCurrents.com.
Photo courtesy Jordan González for Unsplash+
