– Welcome to car talk, this is not talking about cars, this is talking inside of a car. Today’s topic, is about how backwards so many industries still are. I was taken aback by it yesterday. Yesterday morning, had a kind of a quiet weekend, watched a little bit of CBS Sunday Morning, kind of like that show, it’s all kind of lighter topics, and they did a story about a particular toy manufacturer that did some influencer marketing. And it was viewed as this incredibly, wild, unthought of thing before. And they said, we didn’t do any TV ads, we just looked at kids’ YouTube channels, and created a toy of what people liked to do, and then sent it, to these kids with unboxing channels and video series that they do on there, they get these millions and millions of views, that anybody with a young child already knows, myself included. And the owner of this toy company who did it, said no one in the company thought it was a good idea. And he got his own little news piece about how this was such a novel idea, and it was surprising to me that, even the people, that are trying to get to little kids, still have no idea what’s actually happened. It’s not something that’s happening, influencer marketing to kids, YouTube stars is 100% common sense. And it was viewed as this big thing, oh, no one believed in me, I did this, and he wasn’t full of himself, so I don’t want him to come across like that, but the way the whole story was presented like it was kind of novel thinking.
That he really thought outside the box. And I was taken aback, because it was striking to me how out of touch other companies are if this was viewed as a really bright idea. This should be viewed as the normal idea and everything else should be viewed as, are you still doing that? Are you serious? So it was baffling to me, it was striking, I took about a minute and just stared at the screen, after that segment aired, thinking do these toy companies, and big companies, know this little? Are you serious? It sounded like it didn’t even make any sense. It’s like someone saying, “Oh yeah.” I’m trying to think of a good example on the fly here. Let’s see what’s a good example of something that seems like a novel idea, that everyone else says, “Are you serious?” You’re kind of like, “Well yeah, put my milk in the fridge so it doesn’t spoil so fast.” And I though, yeah, wouldn’t everyone do that? Oh it sounded as obvious as that to me when I heard it, that they would say, “Oh influencer marketing you know what?” Or they’re, “Well, didn’t spend any money on TV ads.” And like, oh wow, look at that! And I would think, how did everyone else not know this? And I’m not always knowing everything, and if I wanna get ahead of the curve, I listen to unknown sources, I listen to Andy Frisella, listen to Gary V, Gary V is really good on keeping me in the tabs, the loops on a lot on what’s up and coming.
He’s been talking about that influencer marketing for a while, a year or two, and how right now it’s still ripe. So to me, to hear first hand, like I’ve heard him say, that these big companies don’t have any idea yet how things are actually working or not working, and you hear that yes. But to then see it confirmed by this nationally televised news piece, really frames perspective for it, and all this is so interesting. These big companies seem to have no idea how anything even works, and how to get the best bang for your buck, which is strikingly odd, but also when you think about the opportunity that is there for anybody, and this is where I struggle with people that say they can’t make any money, they can’t figure things out, because all I see is opportunity. Because the fact that big, multi-million dollar or 30 year old companies, or older, don’t see that influencer marketing is a really good channel to look at, and things like Facebook ads as well, or where they should be spending their money, is showing me that there is so much opportunity, because before I never really thought that I would wanna get into the toy business, but if the people selling the toys don’t even know that doing influencer marketing to kids on YouTube, kids’ YouTube channels, is a smart idea, then look at that opportunity there.
They don’t even know how they should be marketing right now. They’re marketing like they did 20 years ago, and probably wonder why it doesn’t work as well. All I see is opportunity when I look at that, and I think what other industry, what other big players, have no idea how to actually make things work anymore? I bet it’s a lot, I bet it’s a lot, and that’s why I’ve been saying for a while, I’ve been hearing from the other circles that I’m involved in how things like the retail apocalypse has not gotten over, or in the thick of it, it has just started, because you have these big, multi-billion dollar companies that have no idea how things are working, and someone else with a smaller budget, does some smart influencer marketing and realizes they can sell a million units by sending out 100 for free to some kids, if the toy is good, and that’s all it takes, versus a national TV spend for 100 grand, it’s just not the same thing at all.
And when they don’t even know that, what other industries don’t know it too? Probably a lot. Probably why some companies are doing well, and some are doing really poorly, because they haven’t yet clicked, and they’re things the same way they’ve done them for 20 years, not realizing that it’s different now than it was 20 years ago. So that was a really interesting time for me to look at that, and think about that, and process all that. And I thought I would share that with all of you to realize there is so much opportunity, and these big companies have no grasp of where the world is or where it is going, because influencer marketing seems like a novel idea to them, and it seems like something everybody is already doing to me, but it kind of goes to show that maybe people don’t really know that. They don’t really know where things are at and where they’re going, and all I see, and feel, and tingle, when I hear how influencer marketing it seems like this novel idea nobody believed in, all I hear is, cha-ching, because that means opportunity for everybody else that already knows that, and that is Car Talk, Tyler Douthitt.