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Let’s Be Brief: The 2019 Trends Executives Need to Consider

The revelation of the yearly trends impacting businesses is what makes every new year exciting – and nerve-racking. Even though it feels like yesterday we were wondering about the impact of the technology and strategies that were poised to shape 2018, the new year is here to be bigger and better than ever for industries across all sectors.

To help stimulate better results in the future, it’s equally essential that you monitor the trends that could affect your industry — and the business world as a whole — in 2019.

1. Data, data, and more data

This year, consumers will want more control over their data. GDPR has come into effect, so businesses have to be extra careful with how they use their customer’s data. However, there are ways in which companies can overcome the worries over data protection. With interactive content being all the rage among consumers, the one-to-one personalization of business channels has been made possible by data tied to specific customers – one solution to make sure consumers are sharing the data they want to have shared.

2. Personalization will be personalized

Anything that can be personalized will be personalized in 2019. Most importantly, 2018 showed us that the supermajority of consumers prefer to work with brands that offer personalized experiences. Communication strategies are changing, so it is up to executives to determine how to effectively reach their costumers and keep them engaged this year.

3. Embracing AI

Artificial intelligence really started to enter the mainstream in 2018, with chatbots and virtual assistants making their presence felt in a wide range of industries. With the use of AI, businesses will be better equipped to handle more customer service tasks than ever before to better facilitate the customer journey. As the year progresses, we can expect astonishing breakthroughs as well as continued excitement from businesses fully implementing AI in business strategy this year.

4. The increase of social responsibility

Corporate social responsibility has been gaining momentum for years, but 2018 saw a star-studded justification of the movement. From movements like #MeToo to methods of environmental conservation, in 2019 and into the future, executives should anticipate that social duty should be at the table stakes of business as it continually impacts the culture and lives of people across the globe.

Even though this short list of trends can be challenging for executives to consider this year, part of what makes a business’ New Year’s resolution fun is the prospect of that anticipated challenge. By making a year-long commitment to something that is sure to come true with the right mindset and the right amount of work, it will be easy for businesses to adapt to obstacles blocking their path to success this year.

All in all, it is inevitable that change is going to happen. The world turns and we get on with our lives, but recent events can be unsettling or exciting depending on your perspective. Business should remind customers of the convenience, safety, or excitement of changes in policies, practices, or products or how business will manage change. That being said, the companies that are open to development and are willing to innovate will be the ones that will be the champions of 2019.

DIGITAL ENTERPRISE TRANSFORMATION WEST

Thanks to the success of our Digital Enterprise Transformation Assembly series, in 2019 The Millennium Alliance in partnership with our Advisory Board, we are adding more events to the list! Digital Enterprise Transformation West Coast will be heading to Nevada in February.

This exclusive Assembly will bring industry experts and the best solution providers to our Senior Members based on the West Coast.

Are you a CIO or CTO interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Predictions 2019: The Year Transformation Goes Pragmatic

The Millennium Alliance is proud to partner with Forrester at several of our assemblies each year. With its world-class analysts and research teams providing thought leadership, throughout the year we collaborate to ensure our content is relevant in the world of digital transformation.

At the end of each year, Forrester puts together its prediction guide to help firms see around the corner to where the market is going. This year Forrester identified 14 major dynamics that will impact organizations across multiple sectors in 2019. We sat down with multiple analysts at Forrester to discuss some of the transformational shifts that The Millennium Alliance members will be focusing on for the new year. For the full 2019 Forrester Research Predictions Report Guide, click here.

Digital Transformation

In order to stay ahead of customer demands and competition, how can organizations successfully transform their digital portfolio while increasing profitability and efficiency?

First, digital leaders need to recognize that “big bang” approaches are generally failing. Leaders need to work with individual business areas to identify digital quick wins. They must prioritize investments where there is double-leverage – the opportunity to improve both the customer experience and the cost of delivering that experience, like via a new mobile app or storefront for business customers. Second, organizations need to pair new technology with the training and cultural reinforcement of the need to build for change and embrace an insights-driven, agile mindset. But bottom line, leaders need to ensure the core parts of their portfolio are generating near-term ROI, that allows new innovation to be funded primarily through operational efficiency gains. Allen Bonde, Vice President & Research Director

Marketing

How can CMOs refocus their company’s marketing strategy towards remaking and revitalizing their brand?

The greatest shift in approach in today’s marketing environment is understanding how to build emotional connections in a world of experiences that are overwhelmingly digital. The power of emotional connections elevates a product or service offering to an inextricable part of a person’s life. Projecting a brand personality is the starting point. Marketers must then navigate a space of emerging technologies like mobile, altered realities, and voice interaction to deliver these brand experiences. CMO’s must entangle their customers in a web of digitally fueled experiences that create meaningful and sustained value – enough value to render the relationship unique and irreplaceable. Keith Johnston, Vice President & Research Director

Advertising

As digital transformation becomes even more personalized, what technologies do brands need to focus their advertising budget on in order to reach consumers?

This is the age of the customer. Consumers are equipped with a variety of devices which they use to access the content they prefer at the time of their choosing. Successful marketers recognize that customers are in control and invest time, money, and talent in learning about and identifying their customers and best prospects in order to deliver relevant marketing messages that include advertising, email, search, and social engagements, all in support of a consistent brand positioning. To do this, marketers will need to buy and/or partner with a host of companies and technologies to collect, aggregate, and analyze as much data as their customers are willing to share and they are otherwise able to access, including second and third party data for greater precision and scale. This combination of data will inform their abilities to confirm the identities of their customers as well as their media buying through demand-side platforms and exchanges. Because consumers are increasingly informed about advertising, successful marketers will partner with creative ad tech vendors to customize their advertising messages. They will use email vendors that can integrate with their data resources and social engagement vendors that can extend their presence into social platforms in a brand consistent manner. They will require the services of technologies that monitor and verify that they have the appropriate consumer permissions and that their adds are being delivered to and are viewable by human beings. And they will require attribution companies to determine that they are pursuing the proper blend of initiatives to sell their products. Susan Bidel, Senior Analyst

Healthcare

In an environment with regulation changes, nontraditional companies disrupting the industry and an ever-changing landscape, what do healthcare leaders need to do in order to provide more personalized experiences?

Due to the disjointed care delivery landscape in the US, the healthcare industry has struggled to deliver a personalized experience to consumers. To course correct in 2019, HCOs will need to embrace tools to capture the real-time voice of the consumer and voice of the employee metrics, and advanced health analytics tools to blend that data with existing organizational data assets to create personalized insights. In 2019, because of the regulatory environment, Forrester expects HCOs to minimize traditional approaches such as consumer assessment of healthcare providers and systems (CAHPS) and star ratings — and use them differently. HCOs will leverage VoC and VoE — and take a more data-driven approach — to drive the changes that customers and employees desire. Jeff Becker, Senior Analyst

Digital Enterprise

As organizations become digital-first, how should the CIO navigate the complex technology landscape to transform their business strategy to success in 2019?

We are in a period of constant change and accelerating disruption. This places significant pressure on today’s CIO; however, it also creates a significant opportunity for those CIOs that can successfully navigate these waters. First, CIOs need to ensure that they are making the appropriate investments in their technology foundations (e.g. cloud and big data) and delivery capabilities (e.g. agile) to create the proper environment for accelerating the benefits of future emerging technology investment. Second, CIOs need to be the central source of technology knowledge and teach the rest of the business how technology can drive innovation. At the same time, these CIOs must not fall prey to businesses who want to chase shiny objects or do not understand how to move innovation ideas to production commercial value. Last, they need to help their C-level executives anticipate technology trends, customer changes, and competitor moves so that they are one step ahead of the customer. In this vein, the CIO becomes a true business partner creating value for customers and the enterprise. Brian Hopkins, Vice President & Principal Analyst

Cybersecurity

Given consumer privacy, data usage concerns and stricter regulations such as GDPR, how will CISOs prepare their cyber defense in order to regain trust and confidence?

There are two major ways of privacy, data usage concerns, and regulations will change security. It comes down to 1) CISOs must take an active role in securing the products and services their company sells and 2) those external forces make cybersecurity a board-level issue which requires CISOs to step up their C-level skillset. The first of those initiatives will help CISOs contribute to gaining customer trust and confidence because building products and services with major security flaws are now seen as a quality issue that can lead to damages to the brand and reputation of a firm with their customers. The second initiative has more to do with the fiduciary responsibility of Board members to protect shareholders. Given the legal and regulatory environment firms operate in, ignoring security issues can result in massive fines and high legal costs which impact revenue and earnings and eventually…share price. This will require CISOs to develop better metrics, better vocabulary, and better communication skills when speaking to the Board of Directors about security, risk, and privacy. Jeff Pollard, Vice President & Principal Analyst

2018 has been a year of meeting the reality of large-scale strategies, increased consumer awareness, adapting to external forces in many industries, and that doesn’t even factor in the internal organizational challenges that executives face each day! We at The Millennium Alliance are excited for 2019 as we continue to provide the highest level of education, transformation, and leadership for all of our members.

Thank you to the Forrester team for sharing its expertise with us and our members. In need of some holiday reading? Click here to download the Forrester 2019 Predictions Guide.

See You in 2019!

These Are The Moments That Shaped Retail In 2018

The year 2018 is almost over, which means it is the perfect time to reflect on all the great moments that happened in the year. It is also a time to look forward to the future of 2019, and all the great things that will come.

For the retail industry, we have seen quite some exciting things happen in 2018. From bankruptcies to innovative tech, the retail scope has undergone many changes that have affected companies and business professionals alike.

The Retail Apocalypse Emerged in America

Shopping malls became increasingly empty in 2018, as e-commerce and online sources became popular (and more preferred) shopping tools among consumers. Because of this, retailers had no choice but to shift the way they thought about the priorities of their business. Brands started to incorporate new retail tech into business operations. This included making sure that online components were offered to their audience.

When there is an empty mall, you can bet it began when stores started to become increasingly barer. Stores like Sears and Toys R Us struggled with bankruptcy this year, resulting in dozens of stores to close.

“Toys R Us foreshadowed a tumultuous — and ultimately fatal — year with an announcement in January to hire a liquidator and shutter at least 180 stores in bankruptcy.” Retail Dive reports.

All of these factors lead to the retail apocalypse, which shaped the retail industry in a major way in 2018.

Amazon Made Strides in Retail

Although not classified as a traditional retailer, Amazon had quite the year in 2018, proving they can really do it all. Firstly, this powerhouse company shook the world with the announcement of its partnership with Berkshire Hathaway and J.P. Morgan for new health initiatives.

Amazon proved retail is not dead in 2018. The corporation rolled out new tools that can be incorporated into retail initiatives, such as the Amazon Alexa. It also dived into brick and mortar retail, taking a different approach from e-commerce and online action.

Amazon partnered with Whole Foods, establishing a brick and mortar concept that allows customers to shop Amazon products through the store. Now, Amazon announced just this month, that there are plans in the works that will put Amazon Go in places like hospitals and airports, making Amazon accessible in more places.

Companies Lost Some CEOs

In 2018, we saw many CEOs leave companies, sometimes even after only after a year or two. We saw this with J. Crew, who lost their CEO, James Brett, after a little more than a year.

The CEO of Lululemon as also left the company in 2018, after being ousted for misconduct. Nike’s CEO went through the same situation, which also led to the departures of many more executives after being accused of having a negative company culture.

The departure of these executives led the retail industry to conduct internal reviews when it comes to making a change when it comes to cultural transformation.

…What Will 2019 Bring?

ABOUT DIGITAL RETAIL TRANSFORMATION ASSEMBLY

C-Level experts from across North America’s retail industry are coming together in Dallas in February to anticipate the highly complex digital retail environment that will develop over the next few years.

Through a cutting-edge program designed by the industry, for the industry, we will provide a fresh and up-to-date insight to help move your organization to the next level of digital leadership. A series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company sustains its competitive advantage.

Are you a Retail executive interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Download the Sponsorship Prospectus to find out if your eligible to sponsor our event >>

The State of Cybersecurity in the C-Suite

“Complexity is the enemy of security.”

When it comes to cybersecurity, no one gets a hall pass. This is especially true when it comes to the C-Suite. Cybersecurity is viewed as a cost center, especially since many people do not know how to deal with cybersecurity effectively.

Cybersecurity should be seen as a growth enabler or differentiator for the C-Suite, by allowing the type of innovative investments that allow the company to scale into new markets and protect their data at all costs – all while leading their organization through its successes and pitfalls.

It could potentially be a disastrous mistake for executives with non-technical backgrounds to assign responsibility to the chief security officer, chief information security officer or IT team to keep cybersecurity practice in check. If C-suite executives of other departments see trouble ahead, but do they really understand the size of the problem below the surface? In order to the see the problem, the C-suite must take steps to ensure that cybersecurity is always on their radar.

What Can We Do?

Taken off his recent Forbes article, Gaurav Banga, Founder and CEO of Balbix, lists question cybersecurity professionals can ask to get the ball rolling in important meetings with senior executives regarding safety and security within the organization.

Do we have a real-time inventory of our assets, including mobile devices, unmanaged assets, cloud services and IOTs?
Are we able to continuously observe all relevant security attributes for our assets?
Assuming some internet-facing asset is compromised, how quickly will the attack propagate before being detected?
What is the likelihood and impact of a major breach?
Can we quantify our cyber-resilience (i.e., ability to limit the impact of attacks in time and space)?
What proactive steps have we taken to improve cyber-resilience?
Can we estimate proforma ROI of our security initiatives, quantifying the expected decrease in breach risk?

By asking these questions, your organization will be able to spend more time measuring and auditing the network to better understand risk and development in the cybersecurity sector of your business. This will create clarity around actions that need to be taken to in order to reduce breach risk.

The Next Steps

Ultimately, the C-suites must lead the charge of the cybersecurity brigade — and the boards must also be engaged. Senior leaders driving the business must take ownership of building cyber resilience while educating those who are not only below their level, but on the same or above their level. Securing the network is no longer someone else’s job, but it is rather a team effort. Executives must all work together to do their part to keep digital assets safe or it could mean inevitable doom for their organization.

Having the C-suite back the implementation of an organizational cybersecurity framework will increase the likelihood of success in implementing a holistic security program. When the entire organization, from executive ranks to the front line, are fully engaged with a security first mindset, a utility, as well as unity, is well on its way for the future of that business.

TRANSFORMATIONAL CISO EAST ASSEMBLY 2019

Due to the success of our National Transformational CISO Assembly, in 2019 The Millennium Alliance in partnership with our Advisory Board, is launching the first Transformation CISO East Coast.

This exclusive Assembly will bring industry experts and the best solution providers to our CISO Members based on the East Coast.

Are you a CISO interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Millennials May Have “Killed” Canned Tuna, But They Have Not Killed Digital Transformation

Millennials are nothing short of crazy killers. Well, according to the news at least. So far millennials have “killed” dinner dates, hotels, grocery stores, cinemas, diamonds, banks, gyms, department stores, vacations, casinos, the car industry, homeownership and now, Buffalo Wild Wings, just to name a few.

However, there is one thing that millennials are not killing. In fact, it is quite the opposite. Believe it or not, millennials are the key to implementing a successful business digital transformation. According to Deloitte, their mastery and familiarity with the latest technology as well as their tendency to share their expertise is the key to staying ahead of the curve of modernization. With the help of the new generation, businesses will succeed, especially in the new year.

The Rise of Millennials in the Workforce

What plays to an enterprise’s favor is the fact not everyone in their organizations, especially their C-Suites, is quick to adopt new devices and applications that trend and impact their industries. However, the massive digital divide that once was is now going away faster and faster as new graduates are getting hired and younger managers move up the corporate ladders in recent years.

So, why is it important we acknowledge millennials as the turning point in the digital transformation in the business sector? It is important for businesses to acknowledge this for two reasons: 1) In 2030, it is predicted that over 75% of the workforce will be consisted of millennials, 2) it is continually noted that they have the largest purchasing power of any demographic, as well as the biggest influence on the well-being of businesses.

So with the rise of millennials in the workplace, big questions remain: How are millennials going to change as they gain more experience? Will they preserve the values and characteristics that have made them such a unique addition to the workforce, or will they transform into something else entirely as companies become more digitized? Either way, millennials are far from being done shaping the workplace.

Leading Digital Transformation

Simply put, millennials are leading digital transformation. Transforming your business by embracing technology and the innovation that technology empowers when it comes to business models and workflows is necessary to attracting talented employees. And in the digital world, millennials are that top talent.

“Digital technologies have already dramatically impacted the culture around work and working. This growing group of younger, connected, and mobile workers are managing their careers on their own terms and often outside of categories that have defined the workforce for decades. Today’s workers have a new focus on purpose, mission, and work-life integration.”

Because Millennials value the digital space, including digital communities such as social media, it is quickly becoming part of conventional operations. Companies are being forced to adopt new, modern strategies that incorporate digital experiences and mobile support, which includes coming up with mobile-centric app experiences, social content and faster, more responsive fulfillment and support.

That being said, companies need millennials and their expertise more than ever as these strategies gain ground and are fulfilled in business strategy.

Why We Need Millennials

In essence, the tendency amongst millennials to adopt new technology instantly and identify its strengths and weaknesses is a crucial tool for organizations going forth. Moreover, their general desire to share the benefits of this new technology is an organic catalyst for this change to spread to older generations within an organization.

“If 75% of the workforce by 2030 will be made up of millennials, where do you think the largest source of revenue will come from for businesses around the US? Where will the buying power be if not with millennials? Businesses will need to embrace digital transformation to deliver what their future customers will want.”

Millennials are probably the most educated generation in history who are typically compassionate while lauding diversity and celebrating individuality. Technology and globalization have created a generation who think a little bit differently, generating a pot of transferable life skills, which has enabled them to understand the digital and sharing economy, which, not surprisingly, is the power to transform businesses. Millennials are a workforce who use digital as a platform for creativity, innovation, and intelligence, no matter what industry it is. Businesses need to understand that millennials should not be underestimated, and that all begins with overcoming barriers to grow awareness for this up and coming powerful generation.

As we enter a time where millennials begin to dominate the global workforce, it is once again very important to acknowledge and understand what they are bringing to the table and how the times have evolved for all generations, especially as we head into the second phase of digital transformation in the upcoming year.

ABOUT DIGITAL ENTERPRISE TRANSFORMATION ASSEMBLY 2019

As more and more businesses look to digital technology and strategies to transform their business, CIOs know that data and information technology have never been more important. Understanding the convergence of mobile, social, and cloud is the first critical step for organizations looking to create opportunities and stay ahead of the competition.

The Millennium Alliance is thrilled to present our bi-annual Digital Enterprise Transformation Assembly, put together by the industry, for the industry. Join us in Miami, FL. for a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company maintains its competitive advantage.

Top AI Trends You Need to Look Out For in 2019

This year, we saw artificial intelligence affect businesses in dramatic ways; from digital platforms, tools, and applications, AI and machine learning was in some ways involved. No only did these technologies impact software and the Internet industry, but it brought also other verticals such as the healthcare and other impactful industries like agriculture.

As the curtain rises for 2019, we should expect to see major changes in how organizations use AI in the new year. To keep you on the edge of your seats before that happens, here are some trends you need to aware of to take on 2019:

AI will power the next phase of digital transformation

The biggest trend in AI will be the continual acceleration in the era of digital transformation, making existing business systems smarter and smarter. With companies like Amazon, Microsoft and Google already leading the way and because of technological developments, more companies in 2019 will be able to access and implement this life-changing technology into their practice.

Convergence of AI and other tech

The combination of AI and other technologies are reaching its maximum potential. However, the combination of the Internet of Things (IoT), the big data it creates and AI’s ability to make sense of it all has caused a tipping point across multiple industries.

Since IoT is all set to become the biggest driver of artificial intelligence in the enterprise, the combination of AI and other technologies is already starting to make itself felt and many of us keenly anticipate the day when virtual personal assistants will run our lives, free up our time and make us ever more effective.

More advanced AI assistants in and out of business

Consumers have been benefiting from having AI assistants in their homes for some time now with the introduction of Apple’s Siri, Amazon’s Alexa and other devices. With the help of these assistant, people have been turning every day tedious tasks into simpler ones.

However, we should expect to see big changes in the tasks AI assistants can perform in the near future. AI assistants will soon be able to provide even more individualized experiences as they get better at recognizing different users’ voices, giving businesses the route to perfecting personalized experiences in their marketing strategy.

Meeting the new talent gap: AI skills

Most organizations want to embrace AI as part of their digital transformation but do not have the developers, AI experts, and linguists to develop their own solutions to deliver on the promise. The AI talent shortage goes beyond finding technical and data science experts as firms need experts in social to operational expertise to train, manage, and trust AI systems. The full potential of AI will require human talent to achieve it, especially in the early phases of implementation.

Just like you predicted and are expecting, Machine learning and artificial intelligence will become the key technology trends of 2019. From business applications to IT support, AI is going to continue to impact the industry significantly in the upcoming year.

ABOUT DIGITAL ENTERPRISE TRANSFORMATION WEST 2019

This exclusive Assembly will bring industry experts and the best solution providers to our Senior Members based on the West Coast.

Are you a CIO or CTO interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Meet Jason Pierret, The Healthcare Marketing Strategist You’ve Been Looking For

Anyone in digital marketing knows that a lot can change in 10 years. The same goes for those in the healthcare industry. Interestingly, the strongest link between marketing and healthcare is exactly that: the speed of change.

Jason Pierret has been navigating the complex world of healthcare marketing for a decade. A marketer at heart and a healthcare expert by passion, Jason is known for bringing a wealth of medical knowledge to every marketing strategy table. His client roster includes large hospitals, clinics, and pharmaceutical companies.

Striking the perfect balance between a patient-first approach, industry expertise and in-depth knowledge of marketing systems, when Jason’s not reading Beckers, you’ll find him on the road at various trade shows and conferences, or meeting clients and thought leaders.

Digital Diary sat down with Jason to learn more about how he developed his digital specialty and his vision for the future of marketing as we prepare for next year’s Digital Marketing and Digital Healthcare Assembly’s. Thanks, Jason!

1) What tools and strategies have you used to connect with patients, appease their needs, and to boost brand awareness successfully?

One of the greatest tools we use at ReachLocal is mapping out the patient journey. Before we launch any campaign, we ensure we fully understand how the patient is seeking out the services the organization offers. We put ourselves in the patient’s shoes and endure that journey ourselves. This process allows us to unveil trends in search, and ultimately determine where we need to put specific pieces of information to connect with people.

This process occurs at a market and hyper-local perspective; every city, town, and community have its own unique demographics, and we need to remain aware of that in our strategies. Approaching our planning from a patient journey perspective guarantees our plans are in-line with people’s behaviors – to drive results.

2) Digital transformation is currently underway and impacting every industry, especially marketing. With marketing executives and leaders looking to execute their vision of digital transformation this year, what is the best way to address business’ unique requirements for transformation?

Before businesses go about changing their approach to digital, there’s a mental shift that needs to happen first. We need to stop looking at patients in a singular fashion — and approach the way we market to them from a consumer perspective; let’s call it the “healthcare consumer.” People are looking at hospitals and healthcare professionals from a very consumeristic eye; they’re reading reviews, seeing what’s the most convenient for them, and what service really matches their objective.

Once healthcare pros reroute their thinking, the next focus should be making the patient experience – from the very first touchpoint – more appealing. Digital strategies should be aligned with the ways in which people want to find information. Ask yourself (and your marketing team): how can we put the patient at the forefront and ensure what they need is at their fingertips? Right now, information is buried across the internet. It can be challenging to do something as simple as book an appointment. Urgent care facilities are experiencing digital success because they are giving patients the experience they want using retail-based communications strategies.

3) The world of data-driven solutions creates the need for smarter business. How do you prepare your clients to tackle the constantly evolving marketing landscape?

ReachLocal is in a unique position because we are equal parts strategic agency and digital marketing technology. Our platform allows us to glean insights from our data – and for someone to really excel in a data-driven world, it’s important to know exactly how to leverage results to optimize.

We also have a reporting suite that allows clients to see results in real-time. For the healthcare industry, this is particularly useful for generating intel on patient demographics. Ultimately, though, without having a specialist who can put data into context and understanding, then you’re left with a bunch of numbers! Partnering with someone who understands your business and who has access to the right technology is really what’s most important.

4) Finding success in a tumultuous marketing world is becoming more difficult to attain. How do you ease the minds of businesses entering the digital market for the first time, and/or, what advice do you offer them?

First and foremost, the easiest way to break into digital marketing is to essentially start with the “digital versions” of the technologies you may already be using. You could take a portion of your marketing budget away from traditional media and execute the digital form of the same strategy. This is a great approach because healthcare professionals are often dealing with so many stakeholders and boards and getting the final sign-off can be tough. It’s all about the way you position it to those who hold the purse!

In any case, marketers should also allocate a specific budget that’s set aside for testing campaigns. Whether it’s search or social, the patient journey is constantly evolving – and you need to adapt and iterate to see what works.

5) Digital technologies such as Omnichannel are making waves in the industry. What key technology trends are you keeping your eye on this year?

We are paying a lot of attention to mobile right now – I’m trying to figure out the best way for my clients to leverage mobile. It could be through augmented reality or possibly wayfinding apps. On the other hand, it might be through personalized marketing initiatives directly to a mobile device. The possibilities are endless right now!

We have our eyes on personalized marketing specifically – toeing the line between being too specific with a patients’ information and being relevant. Emerging tech like virtual reality and its relationship with organic channels versus paid advertising are also on our radar. Needless to say – we’re far from uninspired right now!

6) Even though it is tough to predict, where do you see the future of marketing heading?

The future of marketing, as it relates to healthcare, is going to be a more patient-focused experience. Somewhere in between the Amazon-world of getting what they want and not interacting with a human, to the service at a luxury hotel. We want them to be called by name – and have every piece of information available through an integrated CRM. Interactions should be intentional and easy to navigate. Seamless interaction is what people want. As healthcare professionals, we have the potential to increase convenience and therefore the level of care to our people, all thanks to the computers in our pockets!

7) What do you see as the benefits of attending an event like ours, that brings together C-Level executives in an intimate setting?

One of our challenges is getting in front of the decision makers and have important conversations in a productive atmosphere. Meeting people in an intimate setting to really learn what they’re interested in and have useful discussions about their needs is rewarding. At the end of those meetings, there’s always a clear picture of necessary next steps.

Connect with Jason on LinkedIn here.

ABOUT DIGITAL MARKETING TRANSFORMATION ASSEMBLY

With 53% of Marketers planning on adopting Artificial Intelligence in the next 2 years, the digital marketing revolution is just getting started. CMOs and CDOs alike are seeking new ways to maximize their digital reach to attract new business to, as well as deliver enrich, personalized experiences to existing customers.

The Digital Marketing Transformation Assembly will bring together North America’s most prominent digital marketing technology and business leaders from all major consumer-driven industries to discuss the latest technology, innovations, and strategies driving digital marketing in 2019 and beyond.

Are you a CMO interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Download the Sponsorship Prospectus to see if your eligible to sponsor our event >>

The Millennium Alliance’s 2018 Assembly Season Comes to a Close

Today in San Diego, The Healthcare Payers Transformation Assembly wrapped up, marking the end of the 2018 assembly season for The Millennium Alliance.

Headquartered in Midtown Manhattan, The Millennium Alliance is a leading technology, business, and educational advisory firm. Focusing primarily in areas such as business transformation, executive education, growth, policy, and need analysis, Millennium is quickly becoming one of the most dynamic locations for collaboration across the United States.

This year proved to be successful for our assemblies, namely the launch of the Patient Experience Transformation Assemblies held in Dove Mountain, AZ and Denver, CO. Our assemblies from Healthcare to Digital Marketing catered to and hosted 100s of executives who work and lead the most influential Fortune 500 companies, bringing the assemblies to life and giving our program meaning. Moreover, the sponsorships from the most prominent solution providers across the biggest industries in Cybersecurity, Finance, Marketing, Healthcare, and Retail were an integral part of our assemblies – without their leadership and participation, our assemblies would not have been possible.

Although our 2018 season has come to a close, there is much to look forward to. 2019 is not only bringing back the assemblies that were successful from this year, we are also introducing the new “Regional Assemblies”. From Transformational CISO East to Transformational CMO West, our assemblies next year are covering more territory in the US and expanding to regions our assemblies have not been before. As a digital transformation company that focuses on trends impacting business growth and opportunity, it is important we transform to meets the needs of our executives: by expanding our assemblies, we look into the future alongside our future attendees and sponsors.

To see the full list of assemblies click here.

By bidding the 2018 season goodbye, we welcome 2019 with open arms. We are very excited to see where the future will take us, and we are even more excited to be on this journey with our fellow digital transformers. Let’s make 2019 the best year yet!

Interested in seeing how you can be a part of one of our assemblies? Click the link below to see how you can become a delegate or an assembly sponsor.

Click here to become explore delegate and sponsorship opportunities.

Thank you and Happy Holidays! We cannot wait to see everyone back on-site in 2019.

Is Dropshipping Right for Your Business?

Dropshipping is a business model that allows retailers to act as a middleman while selling a product.

Instead of actually handling the inventory that is sold, the retailer instead passes orders onto a dropshipping company for them to complete the task of picking, packing and fulfilling the order.

Essentially, this business tactic creates a relationship between a business and the manufacturer or distributor of a product.

Retailers get to manage the website of their business, while another company handles the product development and order fulfillment.

There are many positive benefits to dropshipping, and a few steps that are necessary to complete before tackling this new business format.

Making Connections

First, if you are interested in putting dropshipping in your business structure, you need to find a manufacturer who is willing to partner with you.

Once you find one suitable for you, asking a few questions is crucial to success and transparent communication.

Do they offer products you are interested in?
Do they charge a handling fee?
How do their shipping procedures work?

If a manufacturer does not have these answers, you should go directly to the disruptor before making any decisions.

“A distributor is simply a company that maintains a large inventory of another company’s products and distributes those products to smaller companies.” Entreperuner reported.

The distributor can also give direct answers about any specific products you are hoping to sell.

Once you get the answers you need, you can begin to work with these companies and integrate dropshipping into your business.

Then, you can reap the benefits.

Saves Cost

Dropshipping turns out to be very beneficial for retailers starting a business because it allows them to gauge what inventory is profitable, without being stuck with leftovers.

Instead of investing extra money into inventory that may not sell, you can be more precise without having the hassle of handling the products yourself.

When a retailer has extra inventory leftover due to customers not being satisfied or simply products becoming outdated, they often times lose money.

“Many online retailers find themselves having to offer deep discounts–and taking huge losses–on old products just to get them out of their homes or warehouses to make room for more inventory.”

Not dealing with inventory also ultimately leads for businesses to perform tasks in a quick, efficient way.

“Compared to buying inventory for your store, you don’t need to wait to receive inventory or take product photos. With dropshipping, you can easily import product details such as specifications and images” According to Oberlo.com.

Less Hassle

While developing a retail business, it may feel overwhelming while thinking about implementing resources such as:

Setting up a warehouse to store inventory
Figuring out a shipping structure
Producing Products
Tracking inventory

While using dropshipping, these things can be left for the manufacturers and disruptors to worry about, leading to seamless business productivity.

Targeted Customer Engagement

Since retailers have less responsibility of shipping, they can focus directly on the customer while handling the website, engaging with the audience frequently.

This can lead to increased customer communication and can give businesses an opportunity to really learn what inventory the customer wants, therefore, arranging the business model to meet these needs.

“With the ability to add new and expanded product selections consistently, you can keep your existing customers engaged and returning to see what new items you’ve acquired.” According to MultiChannelMarket.

What’s Next?

Now that you have learned about the background of dropshipping, the benefits and questions that are necessary to ask, now you can implement this new tool into your business structure.

Learning about the best dropshipping companies to partner with will make this transformation easier. Luckily, Digital Diary has done the research for you.

Doba

Doba is a comprehensive dropshipping company that has created its own market of wholesalers and manufacturers, giving businesses many options to list and sell products through these sources.

Having over 200 suppliers gives retailers the opportunity to have many choices of inventory.

Dropship Direct

Dropship Direct is a provider that offers 100,000 wholesale products to more than 50,000 online retailers.

“From our 100,000 square-foot warehouse facility in Saint Joseph, Michigan, we provide customers with inventory storage, pick-and-pack drop ship services, and turnkey e-commerce click-and-mortar management.”

This e-commerce company’s mission is to make the shipping hassle free for retailers, “to better leverage profit margin and minimize risk”

Dropship Direct provides a variety of services such as warehouse management, marketplace data, and import/export abilities.

They offer an immense selection of inventory from outdoor supplies to health and beauty products.

Sunrise Wholesale

Sunrise Wholesale is a dropshipping company that was built to maximize businesses online profits while using marketplace automation.

They offer 22,281 products from an assortment of different brands.

“Sunrise Wholesale Merchandise has been a leader in online dropshipping since 1999. With an A+ rating from the Better Business Bureau, Sunrise is your trusted dropship partner.” According to Sunrisewhole.com.

Retailers, you are now informed and ready to take the plunge into the dropshipping world. Good luck!

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Brands To Watch In 2019

According to the Chinese zodiac, 2019 is the year of the pig–which usually means a spirit of relaxation and enjoyment. It’s unlikely, though, that all brands will enjoy a happy, prosperous 2019. Many will undergo significant changes; others will face challenges from category disruption and stiff competition. And all will have to figure out how to navigate an economy that will likely end up slowing down in the back half of the year. Here’s the list of brands I’ll be keeping my eye on, in my annual tradition of one brand for each letter of the alphabet: my list of Brands to Watch in 2019:

A Amazon. No surprise, Amazon will dominate the headlines. Increased competition for its voice-activated services and devices and its unfolding retail strategy (Go, 4-Star Stores and Whole Foods Market) will be newsworthy items. Plus, we’ll likely see the company make some bold moves in light of slowing Prime membership growth. And although the decision about the location of its new headquarters has been made (NYC and D.C.), the fallout–including reduction in its business with FedEx, NIMBY resistance from the selected local communities and increasing criticisms about tax breaks it receives–will continue.

B Baked X. That is, Baked Baker’s Box, Baked Bees, Baked Bros, Baked Smart, Bakked, etc. Yes, I’m referring to all the emerging cannabis brands. With the legalization of cannabis for recreational use in a growing number of U.S. states and Canada, business in the sector is booming, and the U.S. cannabis retail market could reach as high as $24.3 billion in 2022. So we’ll be hearing more about well-funded start-ups and larger companies including Constellation Brands rushing to get cannabis into high-growth (pardon the pun) mainstream product categories from sodas to skin care.

C Canada Goose. Canada Goose is to consumers today what Range Rover was in the 1990s–a luxury brand with product performance cred. Canada Goose puffer jacket wearers probably never have to endure extended time in sub-zero temperatures, but they could–and that’s the brand’s appeal. It’s become the ultimate status symbol, sported by celebrities and fashionistas. The company’s recent expansion into sweaters and acquisition of Baffin boots shows it is preparing to become more of a lifestyle brand and build the product line diversity it will most likely eventually need.

D Disney. The Disney and Fox merger creates a lot of upside and opportunities, including the creation of a new powerhouse entertainment property portfolio (from Star Wars to The Simpsons) and the advancement of Disney’s planned direct-to-consumer digital and streaming plays. But the new organization will have to overcome some challenges, including minimizing distractions from executive shakeups and layoffs and integrating two very different corporate cultures.

E Elon Musk. 2018 was a newsy year for Elon Musk, whom people regard as visionary, crazy or both. He worked 120 hour work weeks to get Tesla through the production ramp up for its Model 3, smoked a joint during the filming of a video podcast, tweeted about taking Tesla private (which eventually led to a $20 million settlement with the SEC and his resignation from the company’s chairmanship), and launched his own Tesla Roadster into space atop the first Falcon Heavy rocket. No doubt we’ll be hearing a lot more about Musk next year, especially since he has publicly stated that Tesla will achieve full self-driving in 2019.

F Ford. It’s only fitting that a commentary about Tesla be followed up by one about Ford. And all eyes will be on the venerable car company as it pursues its aspiration to transform from an automaker to a “mobility company.” Efforts have included developing more electric vehicles and hybrids, investing in its self-driving platform, buying electric scooter company Spin and purchasing and renovating the Michigan Central Train station.

G Google. There are several story lines that make Google one of the Brands to Watch in 2019. First, corporate culture: Last month 20,000 employees walked off the job over the company’s handling of sexual misconduct accusations, and earlier in 2018, employees protested the company’s involvement in an Air Force artificial intelligence project. This employee activism and its test of CEO Sundar Pichai’s leadership is likely to continue. Also, Google hired its first health strategy leader, presumably to synthesize the company’s fragmented health initiatives into a well-funded push to become a formidable health care player. Plus, there’s all the Google hardware developments (Home, Pixel, Slate) to watch.

H HEMA. HEMA, the grocery store concept from Alibaba that combines fresh food and digital technology into a breakthrough customer experience, is only one of the many reasons to keep your eye on the Chinese e-commerce giant. Another is the record $30.7 billion in sales it took in during Singles’ Day, its annual 24-hour online shopping holiday, which made the $1 billion Amazon generated on Prime Day seem paltry. The stepping down of founder, executive chairman, and public face of the company, Jack Ma, next year is yet another. Overall the company is boldly pursuing its “new retailing strategy,” which emphasizes the “harmonious integration” of on- and offline commerce.

I IBM. IBM’s $34 billion acquisition of open source enterprise software company Red Hat, the largest software acquisition in history, signals a significant shift for Big Blue. The company seems to be moving away from Watson and AI and returning to its core enterprise software and services business. Moreover, it’s the company’s latest attempt to rebuild IBM as the preeminent technology leader and perhaps a signal that more strategic acquisitions are on the way.

J J.Crew. This letter is actually less about J.Crew per se and more about its partnership with Amazon Fashion (although change is brewing at J.Crew, given its latest CEO resigned after only 17 months). Amazon is giving brands like J.Crew their own dedicated storefronts, with a look distinct from Amazon. For the brands, the offering is a way to become more accessible and convenient to a larger audience than they could attract on their own. For Amazon, it’s attracting brands that had previously resisted selling through Amazon – and positioning Amazon as the top player of the U.S. apparel industry.

K Kellogg’s. Last year Kellogg’s, and its industry peer Kraft, were my “K” designees because they and other similar brands were facing declining consumer demand for packaged foods and a shifting retail grocery landscape. The situation hasn’t changed, but Kellogg’s has taken some steps to try to boost sales. It’s exploring selling off its cookies and fruit snacks businesses, including Keebler, which would allow it to concentrate more on other profitable areas, and it’s introduced its first new product in over six years, Hi! Happy Inside, a brand of cereals made with probiotics.

L Lowe’s. With Lowe’s Home Improvement recent decision to close nearly 50 stores, you might think the brand should be headlining a list of Brands Most Likely to Fail in 2019. But I actually think the brand could undergo a successful turnaround. At the company’s helm is Marvin Ellison who successfully executed a similar scale-back at Home Depot a decade ago – and a new CIO who previously headed up Target’s digital and marketing technology. And the company’s working on improving customer experience through advanced technology and rationalizing inventory – so there’s reason to be cautiously optimistic.

M #MeToo. The #MeToo movement has been in full force for over a year now, with widespread and transformational impact. Now, though, the movement is meeting some backlash. Case in point: The New York Times recently reported that Hollywood has been stricken by a “profound malaise” due to the fear and tension #MeToo has caused. Given this, it’s unclear if #MeToo will grow beyond prompting the public shaming and employment termination of offenders to affect more systemic change in organizations and culture at large — or if it will encounter a glass cliff, like the many women who managed to shatter the glass ceiling only to get pushed or fall into failure.

N Netflix. Customers’ love for Netflix may soon be tested. The direct-to-consumer streaming video segment is getting awfully crowded with Amazon, Apple, and other tech giants growing their content businesses while traditional media players including Disney and Warner Media plan to launch in 2019. And since Netflix has been burning cash at an annual rate of $3 billion, it has limited ability to fight a costly content or pricing war. As a business, Netflix may still have a lot of growth potential, but as a brand, it may find itself competing against more attractive suitors.

O Oscar Health. Oscar Health, the health insurance start-up currently serving six states and 250,000 members, is of note not only because Google parent company Alphabet has committed $375 million to it. It’s also part of the growing healthtech movement that’s disrupting every aspect of health and healthcare. From genetic testers and health screeners such as 23andMeand Grail to fitness solutions such as Peloton and Fitbit, to insurers, health information management service providers, workflow and logistics solutions, device makers and more, many companies are succeeding by putting the person (patient or provider) at the center of the experience.

P Palantir. Data analytics company Palantir is among a handful of tech companies rumored to be going public in 2019. The company is of even more interest because of its classified work with the U.S. intelligence agencies (it’s credited with helping find Osama Bin Laden), and because of its founder, Peter Thiel, who was controversial figure even before becoming one of President Donald Trump’s biggest advocates in the tech industry.

Q QSRs. The global QSR (Quick Serve Restaurants) market is projected to swell to nearly $691 billion by 2020, thanks in part to healthy growth at fast casual brands like Sweetgreen, Panera and Shake Shack. Technology has been the driver for most fast casual growth, including the Panera 2.0 app which that company has used to reduce wait times, improve order accuracy, and create a more personalized experience for customers. Sweetgreen has also leveraged tech to extend into delivery, corporate office programs, and even supply chain improvements using blockchain technology. This segment of the growing food-tech industry remains worth watching.

R Rent the Runway. Rent the Runway, the 10-million member wardrobe-for-rent retailer, is transforming fashion retail. In addition to the high-end selections the brand started with, it has become more accessible and convenient, now offering a subscription service that allows customers to rent four items for 30 days at $89/month and the option to pick up orders at select WeWork locations. Now, Rent the Runway has developed a program that allows other brands use its platform to rent out their inventory – Club Monaco and Levi’s are just a few that have already signed on. That means we’ll be seeing more of this and other sharing economy retailers in 2019.

S Starbucks and Schultz. This letter is a two-fer, highlighting two related brands. First, Starbucks. The company ended 2018 with a great Q4 (strong comparable store sales momentum, new store openings and growth in its loyalty program) and recently entered into a partnership with Alibaba in China that is expected to accelerate growth in that already high-growth potential market. But it also recently announced it was eliminating 350 positions from its Seattle headquarters. Second, former Starbucks CEO Howard Schultz seems to be gearing up for a bid for the U.S. presidency. He has a personal website and a new book, From the Ground Up: A Journey to Reimagine the Promise of America, slated for release in February. Hmmm…

T Tencent. Tencent, the $34 billion USD Chinese holding company had a rough 2018, with bumpy revenues and stock prices mostly due to pressure on its gaming business, but its WeChat app continues its roll. The app, which lets people chat, pay bills, play games, shop and even access government services, is nearing 1.1 billion monthly active users, and continues to add “mini-services” that users access without leaving the app. This approach may be the future of apps.

U U.S.A. I would have loved to deem Uber the “U” letter in this list of Brands To Watch in 2019, but I had to opt for the U.S.A. brand instead. Given a controversial president, growing tariff and trade issues and continued division over immigration and border security, respect for the U.S. among leaders and the public around the world has been waning. And with the 2020 presidential election fast-approaching, the strength, value and integrity of the U.S.A. brand seems to be hanging in the balance.

V Victoria’s Secret. My questions above about #MeToo notwithstanding, it’s clear the movement has impacted business as we know it. Victoria’s Secret is just one brand that has suffered from the new spirit among women who rail against notions like buying and wearing sexy lingerie just to impress men. The company’s sales, market share, and stock price have taken a nose dive and the brand no longer enjoys the cachet of a cultural icon. Will new leadership be able to turn it around? And what about the rest of the L Brandsportfolio, which includes Bath & Body Works?

W Walmart. Walmart is once again my choice for “W” because it continues to fight aggressively against Amazon and other competitors. It has been working on reinventing itself through acquisitions that shore up its specialty business expertise, including lingerie brand Bare Necessities and women’s plus-sized ELOQUII, and the strengthening of its digital capabilities, as demonstrated by its 43% jump in Q3 e-commerce sales. But the company still has organizational and cultural issues to overcome and Amazon continues to dominate the digital world while expanding its brick-and-mortar offerings.

X Xiaomi. Yes, Xiaomi is the third Chinese brand on this list – which signals how I think our outlook on brands should be increasingly cast eastward. Xiaomi is not as big as Huawei, but the letter “H” was taken – and Xiaomi deserves special attention because of the upcoming release of Mi 9 that’s rumored to come with triple-camera module, LED flash and 5G connectivity. What’s more, having entered the UK market in November, the company has made it clear that the U.S. is next in its pursuit of markets beyond where it currently dominates over Apple and Samsung. What exactly it will offer to American consumers and when may be revealed as early as 12.08.18, when the company holds an event in New York City.

Y Yum! Brands. Yum! Brands balances the outlook on the QSR restaurant category in “S” above. As the parent company of fast food chains KFC, Pizza Hut and Taco Bell, Yum! serves as a bellwether for brands in the more price-driven segment of QSR. For years, the segment has been losing share to fast casual restaurants – but now with the crowding of the fast casual space and the improving quality and innovation in fast food, the tide may be turning and fast food brands may be making a comeback. Yum! specifically has engaged a three-year transformation plan that seems promising.

Z Zuckerberg. Given the crises at Facebook over election meddling, data privacy issues, and fake news, as well as the exit of Instagram’s founders this past year and slowing revenue growth, the brand might have been a shoe-in for the “F” letter of this list. But I think the more interesting story to watch will be CEO Mark Zuckerberg himself – especially in light of The New York Times article which suggests the primary cause behind the repeated crises was a leadership failure on his part. Will 2019 be the year Zuckerberg forges ahead or falls from grace? The Magic 8 Ball says, “Ask again later.”

Denise Lee Yohn is the go-to expert on brand leadership for national media outlets, an in-demand speaker and consultant, and an influential writer. Denise is the author of the bestselling book What Great Brands Do: The Seven Brand-Building Principles that Separate the Best f… MORE

Advisory Board Member Denise Lee Yohn is a brand leadership expert, speaker, and author of What Great Brands Do and FUSION: How Integrating Brand and Culture Powers the World’s Greatest Companies.