Articles Archive - Page 113 of 114 -

It’s True: Loyalty Can Survive in a Gen Z World

It is more common for marketers to think of loyalty as a technology platform or a marketing campaign. They think it is a demand or a lever to produce higher revenue, but now, it is so much more than that. In one of its most successful definition, loyalty is now a mindset permeating all aspects of business this year.

As we find ourselves going deeper and deeper into 2018 (can you believe it is already July?), it means the predictions and trends for marketers everywhere are fading to favor actual outcomes. However, there is still a sleeping giant amongst us that will have an ever-increasing role in almost every facet of our lives… Yes, we are talking about Generation Z. Projected to become half of the active consumers across all markets by 2020, it is crucial for marketers to grasp the demands of the fresh-to-market generation who, like millennials before them, are poised to significantly shape consumer behavior and expectations for years to come.

Reshaping your Approach to Loyalty

Since Gen Z are considered to be the most diverse and multicultural generation ever, this upcoming generation is as nuanced and complex as every other generation that came before them. More often than not, peer-to-peer relationships play a vital role in serving as the vehicle through which brands are served, shared, mentioned and experienced. The traditional relationship between the brand and the loyalty program, with the consumer occupying the space in the middle, is rapidly becoming obscure. So, now more than ever before, marketers need to pinpoint how they add value to individual Gen Zers.

““Do as I say, not as I do” — that’s the motto for many brand leaders, but loyalty’s effectiveness is directly influenced by support, sponsorship and active guidance from leadership. To be effective, loyalty needs broad support to change how the brand thinks about the customer.” – Marketing Land reports.

Furthermore, to Gen Z, actions speak louder than words. Now, the C-suite can drive priorities for the program that change the brand mindset and create an atmosphere that elevates the new and upcoming customer as they journey throughout the organization.

The Value and Mission you have Matters

For Gen Z, transparency, authenticity, and purpose are huge in attracting them to your brand and building trust. Since Gen Z are more altruistic and egalitarian than previous generations, brands that strive to meet their cause-related goals will benefit from organic publicity and will be more likely to attract the attention of Gen Z.

“It’s more than money back. Ultimately, points and rewards alone won’t foster brand loyalty. Instead, in the post-millennial economy, things like exclusivity, reciprocity, social responsibility and instant gratification will trump traditional loyalty marketing.” – AdWeek writes.

For marketers, strategically and carefully tapping into relevant social movements that resonate with your brand is key to reaching Gen Z.

Gen Z has Something to Say

For marketers, the challenge remains the same; capture attention and demonstrate that your message, product or service is worth it. With the looming influence of Gen Z already penetrating how things are run in the United States, it is safe to say that by 2020, Gen Z will be the pivotal group making the rules and regulations across all industries.

Even though they may be young, Gen Z has already lived through some major historical moments in the United States, ones that will shape how they purchase and consume products and services over their next 40 to 50 years. With that said, the brands that respect and honor the world they live in will be the ones who ultimately gain their loyalty.

ABOUT TRANSFORMATIONAL CMO ASSEMBLY

This October, the 8th Transformational CMO Assembly in Denver is a unique event that challenges our attendees to learn how to anticipate what’s next for the highly complex marketing environment that has emerged throughout the year through a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions with our industry experts and advisory board over the course of 2 days.

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“It is more risky to be afraid of change than it is to embrace change.” Keynote Speaker Wes Nichols Discusses Marketing Transformation in Exclusive Interview

With September coming to a close, it only means one thing: Summer is almost officially over. To some, that might be bad news, but to us at The Millennium Alliance, we are thrilled that fall is almost here. The reason why? Our highly anticipated Transformational CMO Assembly this October is Denver is on the horizon.

To add to the excitement, Digital Diary had the opportunity to sit down with our Keynote speaker, Wes Nichols, to gain a first-hand look into how marketing is continually being affected by predictive analytics to marketing optimization, and how the changes in those sectors are impacting the industry. Wes discusses the pace of change in the industry, as well as the key challenges executives marketers face as the industry continues to evolve, and what to do to overcome them.

Thank you, Wes, for sharing your insight with us!

You are an industry authority in predictive analytics, marketing optimization, attribution and cross-channel measurement, and creating solutions for Fortune 500 companies for over 20 years. How has marketing changed over the course of those 20 years?

Wes Nichols: The pace of change, powered by technology, data, and analytics, has continued to accelerate and dominate the C-Suite of many companies, large and small. The ability for CMOs to have true agility and accuracy with decision-making, resource allocation, and tactical activities is remarkable and powerful. We are seeing the next wave of CEOs in the making as a result – a first for CMOs.

As you are considered a “serial entrepreneur” in the industry, what value does a seasoned business have when looking to partner or acquire a startup? What would you say to those who wouldn’t take that risk?

WN: The game-changer for my company was partnering with UCLA and Wharton academics who are considered the world’s leaders in marketing science. They had a huge advantage of having thought about this analytics problem and creating solutions that passed academic rigor as well as in-market performance. We also created what many consider is the best advisory board assembled, and we really relied on these industry experts – Jim Stengel, Rishad Tobaccowala, Margo Georgiadis, Becky Saeger, Mike Linton, Gokul Rajaram and numerous other luminaries in their fields were very hands-on in the creation and expansion of MarketShare. Most important, it was critical to find early innovators like Anne Lewnes at Adobe, Jim Farley at Ford and many other clients who ‘got’ what we had built and how different it was from anything else in the market.

As the marketing industry continues to evolve, the way people develop solutions and strategies has drastically changed when compared to the past. How have influential technologies like AI or Blockchain impacted the way marketing leaders develop breakthrough solutions that resonate in the industry?

WN: I find it riskier to be afraid of change than it is to embrace change. Things are actually moving and changing quickly – just talk to anyone in retail, media, entertainment, packaged goods and so many other industries finding themselves disrupted by technology at a must faster pace than originally estimated. I was asked to write about this in an article which became the cover story of the Harvard Business Review several years ago – Analytics 2.0 (https://hbr.org/2013/03/advertising-analytics-20.) The article they have asked me to write this year builds on this and there continue to be big advancements in the use of data, analytics, AI and machine learning (still pretty early for blockchain for most companies, but important to understand it now). I will be featuring a number of early innovator CMOs who are building internal teams to drive all budget planning, allocation and measurement of their marketing activities – a big shift indeed.

Is there a certain experience that you reflect upon or bring up when you create and scale solutions for global brands?

WN: The power of data. Virtually all companies (other than Amazon, Google, Facebook, and Netflix) under-estimate or under-leverage data they have in their companies. Many don’t even realize the pots of gold they are sitting on and not leveraging, relying on old approaches or methods to go to market. The biggest opportunity of our era is to collect, analyze and leverage your data to drive revenue; if you don’t have team members who can do this, get them and trade up on your team.

What advice do you have for marketing leaders looking to stay ahead of this year’s digital transformation?

WN: Make sure your CEO and board are excited about technology advancements and understand it; if your CEO still has his or her emails printed out by the secretary for a hand-written response, quit and move on to a company that is going to survive! (I have seen several such execs and companies, even as recently as last year). There must be an appetite to embrace change, invest in product and market changes, even disrupt your core business if necessary. If not, someone else will.

We are very excited that you are attending and keynoting our Transformational CMO Assembly in Denver. What are you looking forward to most at our event?

I have worked with CMOs globally for decades and love the innovation, creativity, energy, and enthusiasm for change. CMOs are often the voice for change and improvement, and that’s exciting to provide them the tools and PROOF of IMPACT that most CMOs have lacked for decades.

What do you think are the benefits for a C-Level executive in attending this event?

Given the rate of change happening to business now, I find attending well-curated events with interesting people from different disciplines is useful at helping me stay ahead of these changes. Those who set aside presumptions and ego, and come to actively listen and talk to peers will have tangible take-home value when they return to the office. That is the “ROI” of such an event.

About Wes Nichols

Wes Nichols is a Board Partner at Upfront Ventures and an active technology investor and advisor. Wes is a serial entrepreneur and an industry authority in predictive analytics, AI/Machine Learning, and attribution, creating and scaling solutions for global brands. Wes is the author of the Harvard Business Review cover story, Analytics 2.0, on next-generation analytics to drive more predictive CMO decision-making.

Most recently, Wes was the Chief Strategy Officer at Neustar (NYSE: NSR), the leading company in authenticated identity for marketing and security. Neustar acquired his company, MarketShare, where he was co-founder and CEO. MarketShare, recently acquired by Neustar for nearly a half a billion dollars, was backed by FTV Capital, Elevation Partners, and Silver Lake, the world’s largest technology investor.

Prior to starting MarketShare, Wes was with Omnicom Group (NYSE: OMC) as President and CEO of TBWA’s digital business, working with Nissan, Sony, Pfizer, and other brands. Prior, he was the founder and CEO of Direct Partners, building from scratch one of the industry’s first data-driven analytics companies, which was acquired by Omnicom Group. Wes is a member of the Board of Directors of TrueCar (NASDAQ: TRUE) and BJ’s Restaurants (NASDAQ: BJRI), the LAPD Foundation, and a Trustee of Randolph-Macon College. Wes is an active member in both Young Presidents Organization (YPO) as well as the Pacific Council on International Policy.

You can meet Wes Nichols at our Transformational CMO Assembly in Denver on October 22-23, and follow along on social media using #MillenniumLive for more insights.

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Are Executives “Sleeping” on Cybersecurity? Experts Say Yes.

All companies connected to the internet are vulnerable to cyber attacks, with the potential losses significant. Nowadays, liability for data breaches that affect customers leads directly to the leadership of the C-Level suite. Now more than ever, executives need to personally know how strong their company’s cyber defenses are, as well as the expected responses for attacks or breaches.

However, experts say that many business leaders are resistant to investing in systems and training to protect against cyberattacks. Experts are baffled by this mentality the of CEOs and CIOs that they are safe because they do not have anything worth stealing, which, of course, is false in the digital era.

Where C-Level Executive’s Go Wrong

For the C-Level executives that think they are safe from any form of cyberattacks, the risks are growing every minute. Unfortunately, for every business leader, a cybersecurity attack is no longer a potentiality, it is an eventuality. For a C-Level in an business in any industry, there will never be enough technology or humans to truly protect a business from an attack due to the fact that attackers grow increasingly intelligent and agile as technology evolves.

“Gone are the days when companies could pass the headaches of cyber security to the IT department, as it has become more of a business issue too. This is especially important as businesses are more digitized, meaning they are exposed to an increasing number of threats if they do not manage the risk of security properly, especially from the viewpoint of the executive.” Forbes reports.

Since there could never be enough strategies for a C-Level to implement to protect their business in the age of digital transformation, they will need to invest just as much time and energy in being able to respond and recover when a cyberattack does occur.

What are the Measures C-Level’s Should Take?

Executives should start by understanding what protocols they currently have in place and where they fall short in the IT sphere of their business. According to experts, an annual security assessment is thought to be a best practice to prevent data breaches. If performed correctly, the security assessment reveals the residual risk, and the number and scale of attacks that are likely to get through. If the residual risk is acceptable, then an annual review may be sufficient for most C-Level executives.

However, most experts say that cybersecurity should be viewed as four main components: Prevention, Detection, Response, and Recovery. While there are multiple prevention technologies that a business can take, it would be easier for a C-Level executive to understand which route to take when deciding on which exact measure they should implement into their IT department.

“Rolling the dice on a cyberattack creates an enormous financial risk for your business. But the stakes are much higher than that. Doing so is also, in effect, gambling on the livelihoods of all of your employees and the data security of your customers. As a leader, you have a duty to protect them all.” Forbes reports.

Unfortunately, no business is immune to cyberattacks. Hackers cast a wide net in their search for vulnerable targets, leaving your business open for an attack at any time. With the chance that hackers have identified your point in the financial value chain very high, they are most likely trying to penetrate your cyber defenses at this very moment. Therefore, it is now up to the C-Level executive to not be caught sleeping during this time and ensure that the technology and people that they have are up to speed and ready to protect their company.

ABOUT THE TRANSFORMATIONAL CISO ASSEMBLY

In a new digital world, driven by data, businesses of all sizes are working tirelessly to secure their networks, devices, and of course, their data. CISOs need to plan for worst-case scenarios, stay ahead of latest IT Security transformation technology, and maintain their company’s information assets without losing sight of the corporate culture.

This November, the 6^thedition of our Transformational CISO Assembly will bring together industry leaders to discuss the latest strategies and innovations in cybersecurity in Miami. Join us today, the assembly is now open for application!

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This is not just another “IT Security” event. Spaces are reserved for the best in the business. Contact us today to reserve your seat >>

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The No.1 Online Resource for C-Suite Digital Transformers Gets A Redesign

NEW YORK, September 18, 2018 – The Millennium Alliance announces the redesign and relaunch of Digital Diary, the only blog dedicated to bringing the latest Digital Business Transformation content to C-Suite Executives from North America’s most progressive industries. The Digital Diary started out as a blog and grew to a bi-weekly newsletter, digital magazine, video series, podcast, and now its own domain.

As the fastest growing invitation-only, fee-based membership organization for Senior-Level Business Transformers in the United States, The Millennium Alliance has once again evolved to meet the needs of its clients and members.

In a recent survey of The Millennium Alliance membership, over 90% of C-Suite Executives stated they were actively seeking Digital Business Transformation content in an easily digestible format, that they could take on the go and read where and when suited.

Application to attend is now open. Subscribe to The Digital Diary today >>

Freya Smale, Vice President Marketing, Product, and Client Services’ The Millennium Alliance; Editor-In-Chief Digital Diary stated “It is my great pleasure to introduce to you Digital Diary 2.0! The Digital Diary is another string to The Millennium Alliance’s bow, offering our members relevant content daily.

We are constantly working to ensure that we deliver the best content to our clients and members, either through in-person events, through white-papers, eBooks, case studies, reports, and through daily content. By working with our industry partners and Advisory Board, we’ve built a new digital asset for Digital Diary, to make access to the best content easier for you, our valued reader.”

Subscribe to The Digital Diary today >>

Alex Sobol, Co-Founder and CEO, The Millennium Alliance says, “As The Millennium Alliance gears up for our 5 year anniversary, we are more confident than ever of breaking into different businesses outside of our core event and Executive Education model. What started out as a place for digital transformation leaders to write, comment, post, etc., has now turned into a fully developed and integrated digital asset for C-Suite IT, Marketing, Security and digital leaders from the most progressive industries around the world.

The launch of the Digital Diary 2.0 reconfirms that The Millennium Alliance really is the domain expert when it comes to digital transformation. We hope our clients; members and the occasional browser enjoys the content and are looking for more people to join the thousands of Executives who participate on a daily basis.”

Subscribe to The Digital Diary today >>

About The Digital Diary Team:

Freya Smale is Vice President of Marketing, Product and Client Services at The Millennium Alliance, Editor-In-Chief at Digital Diary, contributor for Forbes, Business2Community, and Marketer in New York. Freya writes mostly about digital marketing transformation, and the industries looking to the latest digital technology to transform in 2017. You can find her online @FSmale tweeting about #marketing #leadership #digitaltransformation and the occasional shoutout to the Welsh rugby team. Or connect with her on LinkedIn.

Jenny Schecher is a Client Services Director & Social Media Manager at The Millennium Alliance. Jenny is an avid contributor to our blog, Digital Diary, as well as all social media platforms. When she is not writing about digital transformation and technology, she is working with her team to make visions come to life at our events. (and eating all of NYC’s best food.) Follow her on Instagram: @jennyschecs or find her on LinkedIn!

Catherine Hand is the Marketing Coordinator at The Millennium Alliance and Editor of Digital Diary. A recent graduate of Siena College in Albany and New York newbie, Cat assists in the creation and implementation of social media, the event agendas, brochures, E-Books, and frequently write blogs for Digital Diary on topics from all industries from Marketing to Information Technology. You can connect with her on LinkedIn.

Cara Bernstein is Manager, Executive Education Partnerships at The Millennium Alliance. She works with Thought Leaders at The Millennium Alliance assemblies and is also a contributor to Digital Diary. Cara writes about different industries preparing for the digital revolution. You can catch Cara on LinkedIn and on twitter @CaraBernstein

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How Important Is It For CIO’s To Be Good Leaders?

Chief Information Officers have a big role to play when it comes to guiding an enterprise towards the realm of digital transformation.

Not only do they have to be knowledgeable and ready to conquer any challenges that technology brings, they have to possess a unique skill set: leadership.

CIOs Are The New Leaders

If it is one thing that we know for sure, it is that getting a business on board with new processes of technology can be tricky. This has made the role of CIOs crucial in the enterprise because they are the ones trusted with such change. Basically, think of them as the captains of the technology ship.

“Deloitte found more than half of CIOs serve as “trusted operators,” with a focus on IT efficiency, reliability and cost containment.” CIO Dive reports.

Leadership Comes As A Challenge

According to a report found on Deloitte, “many CIOs rose to their position based off their IT talent rather than their leadership and communication skills. Transitioning their skills to leadership is a challenge for some.”

So, why is this a challenge?

Well, for starters, being a leader in a world of constant digital change can be tricky. When people continuously rely on you for answers, it may be difficult to establish a clear vision of a developed IT transition, while still playing the role of the leader.

In other words, it is important for CIOs to remember that not everyone is familiar with technological terms. For instance, when dealing with beginners on the journey of digital transformation, it may take them some time to become familiar with technological terms. After all, not everyone can be skilled writers on Digital Diary, right?

“Naming specific technology can be used to augment the point of the mission and to help better explain why the tech is needed to complete the process.” CIO Dive reports.

We Rely On Technology Leaders

No matter how hard it may be for the CIO to wear many different hats, the leadership that is most important. The CIOs of the world must be able to lead those who are inexperienced with technology towards a place of clarity. Enterprises will rely on CIOs for this, and it is crucial that leadership is possessed among all tech executives.

A healthy digital culture is a key to success for any enterprise. Those who succeed in adopting this culture, succeed overall, compared to those who have not.

This begins and ends with the CIOs of the company. The CIOs are able to get all members on board, with their knowledge and expertise.

All in all, no pressure, CIOs, but you are the future leaders of the world!

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Rethinking Your Brand In The Era Of Voice

Brand voice has long been a product of written copy, whether it be on websites, marketing materials or email newsletters. Voice is making it’s way through each industry, redefining how consumers see their favorite brands while giving those brands a way to connect with their audiences on a deeper level.

Most importantly, it is allowing consumers to find their voice.

According to AdWeek, the voice recognition market will be worth over $600 million by the end of 2019. And by the end of 2022, the voice market will be a $40 billion industry with over 50 percent of American homes including at least one smart speaker in their space.

With this knowledge, brands are repositioning themselves to rethink brand building in the era of voice technology, a strategy that is now vital to their success and survival in the MarTech landscape.

The Effect of Smart Speakers

Most experts say that the effect of smart speakers and personal digital assistants in smartphones to IoT devices will be unprecedented. Just as social media eliminated barriers between brands and consumers, voice technology represents another turning point where brands can get closer to their target audiences than ever before.

However, experts predict that consumers will eventually stop searching for products on their own and start heavily relying on their voice assistants to do the work for them. That being noted, this ultimately creates immense pressure for brands to find a voice that resonates with their customers. To survive, brands will need to refashion their SEO, brand-building, and data strategies to create something that customers will run to and return to over and over again.

Reinventing Your Approach

When it comes to voice search, companies will have to understand how to make their content relevant and indexable within the context of how a user queries something with her voice and diction rather than typing.

“Most CMOs aren’t currently focused on brand voice as a strategic initiative, but voice is an avenue for increasing visibility and growing the brand, two key objectives of any CMO. Brands that want to remain relevant should invest in understanding the technical aspects of voice search as well as developing a holistic voice that encapsulates their brand, no matter the platform.” AdWeek.

In addition to figuring out their SEO strategies and building their brands on voice platforms, marketers should focus on their data strategies to prepare for the voice era. Why? It is because voice is based on AI and machine learning, which is based on data and two of the biggest technologies impacting marketing.

With AI’s help, brands will be able to read contextual clues to refine their customer model by what stage of the buying journey someone is in. With this information, brands will be better positioned to fine tune their voice in accordance with their intent with that particular customer.

All in all, voice is the future, and that is not surprising. As technology continues to advance, the CMOs who are prepared for this shift will be the ones whose brands win the biggest market share in the future.

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451 Research Survey Uncovers the Positive Benefits of AI and Machine Learning

Congratulations to Millennium Alliance partner 451 Research who today made a very exciting announcement. Read the full press release below.

New York, NY, September 13, 2018 – 451 Research announced its Voice of the Enterprise (VoTE): AI & Machine Learning – Adoption, Drivers and Stakeholders 2018 survey results today that suggest most organizations are adopting or considering adopting machine learning due to its benefits, rather than with the intention to cut people’s jobs.

Despite being new, there is a healthy amount of adoption of these technologies already. Almost 50% of survey respondents have deployed or plan to deploy machine learning in their organizations within the next 12 months. According to Nick Patience, founder and research vice president for software at 451 Research, this paints a more realistic picture of machine learning adoption than is often portrayed.

“Out of many possible benefits we presented to our survey respondents, almost half (49%) cited gaining competitive advantage as the most significant benefit they have received from the technology. Improving the customer experience came a close second, cited by 44% of respondents. Despite all the hype around mass job losses, lowering costs was cited by only a quarter of our survey respondents,” he said. “We think this demonstrates that AI and machine learning is an omni-purpose technology that can bring numerous benefits to organizations, beyond just lowering costs through increased automation.”

Alternatively, respondents say the most significant benefit they have realized or expect to realize are competitive advantages (49%) and an improved user experience for their customers (44%). This seems to indicate that decision-makers care more about the long-term impact that comes from gaining and retaining customers rather than a short-term fix that comes from cutting costs.

There are some barriers, however. When asked “what is your organization’s most significant barrier to using machine learning?” most cited a shortage of skilled resources as the top barrier (36%).

Skilled resources in the context of machine learning usually means data science skills. And a lack of those skills is reinforced further by the finding that data access and preparation is the second biggest barrier cited by survey respondents.

451 Research expects the lack of skills to gradually decline as a barrier as tools become easier to use and the population of users who can leverage machine learning expands. When all is said and done, organizations large and small will need more personnel to ensure their machine learning deployment brings the business benefits that matter most. To find out more about what respondents believe the macro and micro impact AI and machine learning will have on society and their organizations, check out this blog post by Nick Patience on the 451 Research blog.

About Voice of the Enterprise (VoTE): AI and Machine Learning

This newest VoTE survey research report provides actionable data and insight and a broad, integrated view of enterprise AI/machine learning strategies and initiatives, their underlying business and technology driver, and the nature, pace and direction of AI/machine learning adoption. Data was collected via roughly 550 web-based surveys conducted with IT end-user decision-makers around the world from small, midsize and large enterprises in both private and public sectors. This research includes comprehensive, survey-driven analyst reports with customizable data deliverables. The next survey is planned for delivery in Q4 2019, focused on use cases and benefits for AI and machine learning across many vertical industries.

About 451 Research

451 Research is a leading information technology research and advisory company focusing on technology innovation and market disruption. More than 100 analysts and consultants provide essential insight to more than 1,000 client organizations globally through a combination of syndicated research and data, advisory and go-to-market services, and live events. Founded in 2000 and headquartered in New York, 451 Research is a division of the 451 Group. Learn more and connect with 451 Research on Twitter and LinkedIn.

It’s Prime Time: Every Brand Now Needs An Amazon Strategy

Amazon: More than an Online Retailer

Anyone who knows Amazon recognizes it as a massive online retailer; the biggest online retailer in the world. Millions and millions of customers are turning to Amazon due to its efficiency, quality, exceptional customer service and diversification of products to include few of many reasons why the online platform is so successful. As the generations raised on the internet continue to enter into adulthood, the way leaders execute their business and market their products will need to change and shift with them. For many of these consumers, online shopping has become nearly fully identified with Amazon. Therefore, if your brand is not on Amazon, it is almost certain that your customers are.

“One of the remarkable things about the company is how widely its properties are used. You’re never too rich or too thin to go on Amazon. Consumers of luxury goods may not be buying perfume on it, but they could be buying electronics, checking out camping gear, or ordering groceries through Amazon Pantry… All this activity generates data that provides insight into your customers’ preferences for advertising, content, and context.” Shane Atchison, Global CEO of Possible, reports.

Now or Never: Changing the Way You Think to Meet Consumer Demands

Brands are fast realizing the value of Amazon as a critical consumer platform. Amazon is no longer merely an online retailer, it is a critical source of information and legitimacy for not only businesses but for their valued customers. When shopping, consumers naturally check for legitimacy and quality in the products they are searching, especially when they are contemplating purchasing a new product. Although a customer may use online platforms such as Google or Facebook to research reviews, Amazon plays a prominent role in product research for most consumers. Reviews offer insight into a product from an unbiased source, aka the other buyers of the product. With the trusted source Amazon provides, the consumer tends to make their initial purchase on Amazon’s website.

“Amazon knows not merely what your customers buy, but also what they enjoy.” Medium reports.

Customers trust Amazon to store their card information safely and are given confidence by the Amazon A-to-Z guarantee, which guarantees consumer confidence with purchases from third-party sellers when payment is made via the Amazon.com website or when a customer uses Amazon Pay for qualified purchases on third-party websites. And if the customer searched for your product and didn’t find it on Amazon? They will almost always move on without making a purchase. That’s how strong Amazon loyalty has become.

Moving to an Amazon Strategy

The power of Amazon is something brands cannot ignore not that we are in 2018. Retailers have seen growth in not only their customer base when implementing Amazon into their strategy, but also in revenue and customer retention. However, some retailers believe that listing their items on Amazon will draw sales from their e-commerce site, ultimately hurting their business in the long run. Nonetheless, one of the more important principles that a brand must understand is that most people will not purchase from a website if they don’t know or trust it, that that can have devastating effects on a business’s success. Nowadays, people do not just buy off of Amazon, they admire and be their trust in every aspect of the wildly successful company. So, if your item is not readily available by being listed and optimized on Amazon, there is a vast wealth of customers who may never buy from you or even hear about your product. If you treat your Amazon listings with as much care and concern as you do your website and stores, you will benefit significantly in both revenue and brand exposure. By implementing Amazon into business strategy, the better your brand will be able to compete with the more agile, digitally-native challengers in your marker, and the easier it will be to stay in step with what Amazon will look like today, tomorrow, and in the future.

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Technology Only Works If Your Enterprise’s Culture Works With It

Digital transformation doesn’t just start and end with integrating technology into your workplace. The digital transformation of a business goes beyond that, and is no longer a buzzword used by business professionals, it is a strategic necessity. This necessity is one that requires a specific mindset in order to be successful.

We’ve talked a lot on Digital Diary about enterprises creating a digital culture among employees while integrating new tools. At first, the idea of a digital culture may seem scary and unknown, but in reality, it helps drive change and innovation among all parties in the workplace.

“Companies must be proactive in creating new systems and policies, and re-interpreting their corporate culture around digital in the workplace, or they risk losing clients, productivity, and employees.” Deloitte reports.

A Digital Culture Creates Change

When an enterprise shifts into a digital culture, it changes more than just day to activities and functions. It creates an overall shift in the workplace environment by enabling collaboration among all parties. More collaboration means more effective productivity, and what a business leader doesn’t like that in an enterprise?

Digital cultures incorporate connected devices into the workplace. Connected devices make for better relationships between higher management and employees. It creates more communication among all employees which ultimately benefits the overall success of the work culture.

Think about it, with digital technology, you can be connected to clients in an entirely different state, just by the click of a button. This means that enterprises save money on extra costs like business trips. Employees are able to work remotely and just as effective as if they were sitting in an office. This type of culture is modern and different than traditional business operations but in a positive way.

The Force Behind Digital Cultures

The growing developments of technology drive a digital culture among enterprises more than ever before. The fact that individuals are so consumed with technology and are used to being on devices, it makes creating a digital culture even easier.

“As technology and networks become more robust, the computing power available in consumer hardware continues to increase, and employees become more comfortable with working on their devices, rather than meeting face to face or having to come into an office. Having a more digital savvy team has been a boon for employers.” Deloitte reports.

Tech-savvy teams make for effective business functions and an overall modern culture. Since the world is moving towards different trends like social media, it is crucial for employees to have an overall understanding of the impact that technology is making in the world. After all, you want to have employees in your culture that know what is going on in the world, and that can adapt to the changes that are occurring on an everyday basis.

How To Create A Digital Culture

Forbes dedicated an article to reveal how to create a digital culture in the “speed age” that we live in today. In the article, you can find a step by step process into how to kickstart a digital culture in your workplace. Overall, it touched on the fact that teams need to be on the same page, be able to track progress and be able to respond to issues in an agile way.

Being transparent is also important because it allows for all members of the team to be able to understand the changes that are occurring in a clear way. Of course, being transparent in any business situation should be the goal, but when it comes to technology, it will be more challenging to get all members on board with changes if they don’t know exactly what is going on.

Cons To A Digital Culture

Although a digital culture is effective and helps move enterprises forward towards the future, there can be cons that professionals should look out for. Security, for example, can be a major con for many enterprises. The more technology in a business means that you are relying on digital tools to store important information and valuable assets.

Being aware of enterprise cybersecurity and having a specific security plan can help you defend yourself against any threats that may occur.

ABOUT DET TRANSFORMATION ASSEMBLY

The Millennium Alliance is thrilled to present the 8^th edition of Digital Enterprise Transformation Assembly that is put together by the industry, for the industry. Join us for a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions offering industry-specific topics and trends to ensure your company sustains its competitive advantage.

Download the sponsorship prospectus for more information>>

Announcing The Launch Of The New Digital Diary Website

The day is finally here! Today, The Millennium Alliance is proud to announce the launch of our new Digital Diary Blog website! You may be wondering, is it still the Digital Diary you know and love? YES! However, our new website is for our blog and our blog alone. Gone are the days in which you can get lost in the shuffle on our the Mill-All homepage geared to those attending one of our assemblies this year.

We posted our top blogs from each industry to spark your interest in our new website. In the future, we will be exploring everything from guest blogging opportunities to exclusive interviews with executives or members of your company, all right here! So sit tight as we get ready to provide those options for you to an advantage of.

We are currently in the process of switching all of our content from our Millennium Alliance’s blog page to here, so if your favorite blog is missing, do not fret! It will all be on this platform in no time. You can either find our new Digital Diary Blog website here, or you can go to our website and find the URL on our old Digital Diary page.

If you are a C-Level executive, an industry leader, thought leader or an analyst to name a few, we created this website with you in mind. Based on content collected from our Membership, Advisory Board, Thought Leaders, Speakers, and Sponsors, Digital Diary has all you need to know in one, cohesive place. If you are not one of those I listed above, we welcome you! We appreciate the time you have taken to explore our blog, and we hope you are able to take something away from it.

#MillenniumLive

Meet Our Authors:

– Freya Smale is Vice President of Marketing, Product and Client Services at The Millennium Alliance, Editor-In-Chief at Digital Diary, contributor for Forbes, Business2Community, and Marketer in New York. Freya writes mostly about digital marketing transformation, and the industries looking to the latest digital technology to transform in 2017. You can find her online @FSmale tweeting about #marketing #leadership #digitaltransformation and the occasional shoutout to the Welsh rugby team. Or connect with her on LinkedIn.

– Catherine Hand is the Marketing Coordinator at The Millennium Alliance and Editor of Digital Diary. A recent graduate of Siena College in Albany and New York newbie, Cat assists in the creation and implementation of social media, the event agendas, brochures, E-Books, and frequently write blogs for Digital Diary on topics from all industries from Marketing to Information Technology. You can connect with her on LinkedIn.

– Jenny Schecher is a Client Services Director & Social Media Manager at The Millennium Alliance. Jenny is an avid contributor to our blog, Digital Diary, as well as all social media platforms. When she is not writing about digital transformation and technology, she is working with her team to make visions come to life at our events. (and eating all of NYC’s best food.) Follow her on Instagram: @jennyschecs or find her on LinkedIn!

– Cara Bernstein is Manager, Executive Education Partnerships at The Millennium Alliance. She works with Thought Leaders at the Millennium Alliance assemblies and is also a contributor to Digital Diary. Cara writes about different industries preparing for the digital revolution. You can catch Cara on LinkedIn and on twitter @CaraBernstein

Reshaping your Approach to Loyalty

The Value and Mission you have Matters

Gen Z has Something to Say

ABOUT TRANSFORMATIONAL CMO ASSEMBLY

You are an industry authority in predictive analytics, marketing optimization, attribution and cross-channel measurement, and creating solutions for Fortune 500 companies for over 20 years. How has marketing changed over the course of those 20 years?

As you are considered a “serial entrepreneur” in the industry, what value does a seasoned business have when looking to partner or acquire a startup? What would you say to those who wouldn’t take that risk?

As the marketing industry continues to evolve, the way people develop solutions and strategies has drastically changed when compared to the past. How have influential technologies like AI or Blockchain impacted the way marketing leaders develop breakthrough solutions that resonate in the industry?

Is there a certain experience that you reflect upon or bring up when you create and scale solutions for global brands?

What advice do you have for marketing leaders looking to stay ahead of this year’s digital transformation?

We are very excited that you are attending and keynoting our Transformational CMO Assembly in Denver. What are you looking forward to most at our event?

What do you think are the benefits for a C-Level executive in attending this event?

About Wes Nichols

ABOUT TRANSFORMATIONAL CMO

Where C-Level Executive’s Go Wrong

What are the Measures C-Level’s Should Take?

ABOUT THE TRANSFORMATIONAL CISO ASSEMBLY

About The Digital Diary Team:

CIOs Are The New Leaders

Leadership Comes As A Challenge

So, why is this a challenge?

We Rely On Technology Leaders

ABOUT TRANSFORMATIONAL CISO ASSEMBLY

The Effect of Smart Speakers

Reinventing Your Approach

ABOUT TRANSFORMATIONAL CMO

About Voice of the Enterprise (VoTE): AI and Machine Learning

About 451 Research

Amazon: More than an Online Retailer

Now or Never: Changing the Way You Think to Meet Consumer Demands

Moving to an Amazon Strategy

ABOUT TRANSFORMATIONAL CMO

A Digital Culture Creates Change

The Force Behind Digital Cultures

How To Create A Digital Culture

Cons To A Digital Culture

ABOUT DET TRANSFORMATION ASSEMBLY

Top Articles Include:

#MillenniumLive

Meet Our Authors: