Experiential Retail: A Post Pandemic Guide

Contributed by our partners at AnyRoad

Brick-and-mortar retailers saw significant reductions in foot traffic last year while e-commerce sales peaked in Q4 2020, but a natural balance is slowly returning as the pandemic subsides and competition among retailers is tougher than ever. As things open up, some brands (such as Home Depot, Williams Sonoma, etc.) that did well during COVID will be looking to maintain their sales volumes – while others that took hits will want to capitalize on reopening as a way to generate more sales.

But no matter how brands fared during COVID, one thing is now certain: retailers can no longer rely on opening new locations as a way to drive store traffic and sales. The pandemic challenged any retailer that “over-expanded” their physical footprint in previous years to right the ship and ensure their remaining stores were properly tailored to their target market.

Shrinking their footprints created opportunities to re-evaluate strategies around product mix, experiences, etc. – so now, post-pandemic, what is the value of a store visit?

Read the full report here

About AnyRoad

Welcome to the experience economy

AnyRoad is the data and insights platform powering leading brands to do smarter, better experiential marketing at scale. Founded in San Francisco in 2013 by Jonathan and Daniel Yaffe, AnyRoad is a leader in a new category of software called Experience Relationship Management (ERM). Over 200 brands including Anheuser-Busch, Honda, and the Golden State Warriors partner with AnyRoad to offer extraordinary experiences and draw insights from data to connect better with customers. AnyRoad is funded by Andreessen Horowitz, Rally Ventures, Precursor Ventures, and Marc Benioff. Go here for more information.

Transformational CISO Leader, Rinki Sethi, Keynotes Our November Assembly!

On November 8th, The Millennium Alliance Transformational CISO Assembly kicks off with a keynote address from Rinki Sethi, current Chief Information Security Officer (CISO) at Twitter. Rinki is an award-winning leader and executive with experience leading and developing innovative online security infrastructure for Fortune 500 companies like IBM, PG&E, Walmart.com, and eBay. She is recognized by CSO Magazine & Executive Women’s Forum with the “One to Watch” award, and in 2010, lead a team at eBay to receive the “Information Security Team of the Year” by SC Magazine.

In her keynote address, Rinki will discuss a variety of topics in cybersecurity including social media, her career shift into the security world, and more. Interested in learning from one of the most influential voices in technology? Go here to request an invitation to the virtual assembly!

About Rinki Sethi

Rinki Sethi is Vice President and Chief Information Security Officer (CISO) at Twitter responsible for leading efforts to protect its information and technology assets and advising the company’s continued product innovations in security. Previously Rinki was VP & CISO at Rubrik, Inc., and she has also held positions in online security infrastructure at Fortune 500 companies including IBM, Palo Alto Networks, Intuit, eBay, Walmart.com, and PG&E. Sethi also serves as an advisor to several startups, such as LevelOps and Authomize, and cybersecurity organizations, including Women in Cybersecurity.

Rinki has over 20 years of experience as a strategic leader and has received several awards, including the “One to Watch” from CSO Magazine and the Executive Women’s Forum, and the Senior Information Security Practitioner Award from ISC2. She also led an initiative to develop the first set of national cybersecurity badges and curriculum for the Girl Scouts of USA and contributed to the ISACA book, “Creating a Culture of Security.” Rinki holds several recognized security certifications and has a B.S. in Computer Science Engineering from UC Davis and an M.S. in Information Security from Capella University.

Sethi’s career began with PG&E as an information security specialist and became really passionate about cybersecurity when Walmart.com hired her two years later as a security engineer. She then spent the following 3 years at eBay as the Chief of Staff & Sr. Manager of Global Fraud, Risk & Security. Intuit hired her as an information security officer for two of their business units as they were going into the public cloud and moving data from TurboTax into AWS. Next, an opportunity to become VP of Information Security at Palo Alto Networks came up and she couldn’t resist the opportunity. After three years with Palo Alto Networks, Rinki left to take the role of VP of Information Security at IBM. After about four months with IBM, however, someone told Sethi about an opportunity at Rubrik and said she’d be a great fit as CISO. A year and a half later, it was mentioned to her that Twitter had been searching for a CISO and so she joined in September 2020 and is her current position as of now!

#MillenniumLive on Data-Driven Brand Experiences with AnyRoad

This week #MillenniumLive is tackling the topic of Experiential Marketing, and how brands are leveraging it to drive loyalty and lifetime value. We’re joined by Jonathan Yaffe, Co-Founder & CEO at AnyRoad, and he shares why we’re moving away from the “things” economy, and onto one more focused on experiences. He emphasizes the importance of data in the new world of experiential marketing, and understanding the relationship between experiences & consumers’ purchase behaviors. Yaffe’s team at AnyRoad allows marketers to accurately measure engagement, ROI, and pull actionable insights, and he shares some of the most impactful use cases of Experiential Marketing done right.

powered by Sounder

Watch the video interview below, or listen on SpotifyAppleAmazon MusicGoogle Podcasts, or SoundCloud.

About AnyRoad

AnyRoad was founded in San Francisco in 2013 by Jonathan and Daniel Yaffe, and they’re a leader in a new category of software called Experience Relationship Management (ERM). They boast over 200 brands including Anheuser-Busch, Honda, and the Golden State Warriors. Partner with AnyRoad to offer extraordinary experiences and draw insights from data to connect better with customers.

Want to request a demo? Go here for more information!

Shaping the Future: AI for Financial Services

Contributed by Pure Storage

The golden age of AI is here.

Financial institutions face new challenges and new digital-native competitors. AI and machine learning can be the key to generating more revenue, reducing costs, and enhancing customer experience while ensuring data protection and compliance. As a result, an unfettered, gold rush mentality has taken hold as organizations look for countless ways to deploy AI.

But while AI and ML have endless—and lucrative—applications in financial services, the AI opportunity doesn’t come without challenges. Ensuring that actual results match expected outcomes and that investments result in returns is vital. Here are just a few of the challenges you should be aware of as you establish an AI strategy.

  • Proof of Concept Purgatory One of the most common complaints regarding AI is the difficulty in moving from modeling to ROI. Time and resources are wasted, and the business is deprived of insights, when projects fail to see the light of day. Executives may also become frustrated and disillusioned, leading to valuable AI projects ending up in the scrap heap.
  • Supporting Data Scientists Without the proper infrastructure, data scientists spend time being data shepherds. Left unaddressed, valuable resources are underutilized and the business is deprived of higher-order insights.
  • Managing Resources The advent of the public cloud has been a boon to the development of AI opportunities and capabilities. But, if not used wisely, these same resources and tools can quickly lead to spiraling costs without the business outcomes to justify them.

Successfully leveraging AI’s capabilities requires you to address practical barriers and challenges. This means understanding not only your business challenges but identifying the optimal technology for each task and how to deploy it.

In our whitepaper, “Shaping the Future: Artificial Intelligence for Financial Services,” we examine key use cases that hold particular promise for AI in the financial sector and how to address the unique set of challenges.

About Pure Storage

Turn Bottlenecks into Breakthroughs

Rely on Pure’s Modern Data Experience™: innovative, cloud-ready solutions and the best experience in technology to transform data into powerful outcomes. Rely on Innovation Leadership: Pure has been a pioneer, from the all-flash data center to the most modern data-protection solutions and the Evergreen™ subscription model. Get Set, Get Cloud Ready: Pure offers everything-as-a-service for flexible consumption and cloud economics. Simple cloud mobility lets you seamlessly extend your data services into the cloud. Get the Best Experience: Pure delivers simple setup, effortless operations, and expansive integrations. But it’s the white-glove treatment of customers and partners that really sets Pure apart.

#MillenniumLive on 2021’s Tech-Driven Marketing Trends with Ameex Technologies

#MillenniumLive is joined by Prathap Venkatesan, Chief Growth Officer and Head of Digital Solutions & Digital Analytics at Ameex Technologies. We dive into how AI and other forms of digital transformation are impacting marketing, what Google’s recent algorithm changes mean for marketers, and 2021’s top digital marketing trends. Venkatesan also shares how Ameex Technologies brings together content, commerce, and technology to deliver a meaningful omnichannel experience.

powered by Sounder

Watch the video interview below, or listen on SpotifyAppleAmazon Music, Google Podcasts, or SoundCloud.

About Ameex Technologies

Ameex Technologies is a digital transformation and delivery partner helping clients ideate, design, build and deploy next generation, deeply integrated digital technology solutions. They bring together content, commerce, and technology to deliver an omnichannel experience for their clients. Their industry knowledge combined with their deep expertise in leveraging standardized processes, automation, data-driven analytics, and artificial intelligence/machine learning allows them to deliver a personalized experience across different platforms. Their flexible and cost-effective engagement models (project, FTE or outcome-driven) are bound to deliver high quality, highly scalable and on-time solutions that accelerate growth in the dynamically changing business environment.

Interested in learning more about their solutions? Go here!

 

David Sable on Why Wisdom-Sharing—Not Age—Makes a Leader

As originally published by David Sable on LinkedIn. Subscribe to the newsletter!

Many of my readers know that my late father was a Rabbi. Preacher’s kids issues aside, I grew up in an amazing community, founded in the mid ’50s and comprised of a multi-generational membership including Holocaust survivors, second (and more) generation Americans, young couples, families, singles, elderlies and a lot of kids running around.

For that reason, I had a plethora of mentors, young and old, to guide me. The most memorable of those were my father’s rabbinic mentors, many of whom were older survivors, and possessed a unique legacy to impart.

Given my upbringing, it comes as no surprise that I have always felt most comfortable in synagogues whose members were visibly and actively of mixed age groups. I love nothing more than being able to count my friend’s ages up 30 years and down 30 years from mine (although these days it’s mostly down).

When I joined Young & Rubicam in 1976, I was both surprised and happy to find a similarly broad spectrum of employee ages (though not a gender). The Madmen were still in place, but under them, a new wind was blowing. Computers were just being introduced for analytics, technology was transforming TV production, fax machines (round cylinders that spun around a page at a time) were starting to change the way we shared across offices—and training programs, like the one at Y&R, were few and far between and paid a pittance, but the training served the same purpose as grad school.

Experience was everywhere and everything. We had the opportunity to learn from the greats and from people who had themselves learned from the greats and from those who had learned from those who had themselves learned from the greats.

So, as I learned how to use a dial-up modem to access Y&R’s single computer a few floors down from my desk, I also learned how to write a memo, how to prepare and stage a presentation, how to develop a budget, how to staff a project, how to behave in a meeting (for example, we were not allowed to eat), how to take notes and always be ready to do so (still am), how to fold my cuffs up and under my sleeves to keep them clean and presentable, how to always send a note, quickly, after a meeting, thanking and confirming (still do) and on and on…

My teachers at Y&R belonged to every age group and some were only a year or two older than myself; however, all had specific professional expertise and had learned from each other. Alex, Sue, David, Mark, Barbara and Barbara, Michelle, Joe…and the list goes on, all having imparted lessons I still practice and pass on, and many are still friends, colleagues and mentors.

I was lucky that as I moved along in the business and shifted to other firms, I was able to find the same kind of mentorship. I sought out the experienced hands and sat myself down with them to soak it all in. Clients played a key role, too, as the industry icons I worked for on my side were equaled by those on the other. There were times when it felt like the Clash of the Titans, but I kept my head down and always listened.

And, I had the singularly blessed opportunity to work for and be mentored by two of the greatest legends in our industry: Harold Burson, founder of Burson-Marsteller, and Lester Wunderman, founder of Wunderman. Both now deceased, I miss them greatly, and during the 40+ years I knew them, I was in constant learning mode. Even after they (semi) retired, I continued our regular lunches and correspondence up until they passed, each well into their 90’s.

I write not to be nostalgic, but to be prescriptive. I am afraid that we are losing our connection to heritage across the board and in many industries. My great fear is that this loss will cost us as a society—in forgotten learning, wasted failures and missed opportunity.

It amazes me when I read or hear of a “never before” offering or capability—when I know it isn’t. I find myself attending more and more bizarre meetings, where no one has any historic perspective or notion that a topic being discussed has a rich history in which to delve. And, worse, it’s absurd when people can’t or don’t know how to make links between ideas and occurrences that might not be obviously related but share the same basic DNA or legacy.

All of this, I should point out, is occurring in an age when researching a subject has never been easier, and fear of AI replacing us is always simmering beneath the surface. It is my belief we humans maintain our edge over AI through this mentorship—the passing down of knowledge, wisdom and information, the sharing of experience through the lens of serendipity is what has always distinguished humankind from any other species…and we are in danger of giving it up.

So, while we opine on digital natives and generation this or that, I share with you that Harold and Lester—both close to 100 years old when they left us—knew more about the workings of digital communications, the use cases and potential use cases, the dangers and the opportunities, the potential, and the waste, more than anyone else, no matter their age. I also point out that some of my mentors were no older than me but had specialized experiences, making them invaluable sources of learning.

Ageism, hubris born of “what do you know,” ignorance, jealousy, fear of being shown up etc.…I have seen it all and it saddens me. Humankind has progressed by virtue of wisdom and experience. Once it was about what to chase and what to avoid; what to eat and what to pass on and what path to follow and which to never take. Today is no different.

It’s not always about being wiser, but rather of having more experience in failure and learning from those failures.

Sir Isaac Newton said it best…listen:

“If I have seen further, it is by standing upon the shoulders of giants”

 Revised to fit my own experience: “If I have had any success, it is because I was able to stand on the shoulders of giants—who let me, invited me and encouraged me.” And I might add, “my greatest success came by the generations that joined me and shared their experiences with me.”

Leadership is about learning. And it’s also about sharing. Learn and share. Don’t waste the opportunity for yourself or shortchange the next generation.

How Data, Flexibility, and Empathy Make all the Difference

Contributed by Avantas

At any time, and especially during a crisis, there is one thing that can be consistently relied upon to be clear, unemotional, and ever-present: data. As the most esteemed academic medical center in the region, it is not surprising that Nebraska Medicine leverages data to ensure the right person is in the right place at the right time to deliver exceptional care. During the COVID-19 pandemic, this penchant for data-driven decision-making was put to the test as they had to staff up to meet all-time high demand, pivot to utilize staff from closed areas, as well as set up virus testing sites.

Planning for the Unexpected | Acting Quickly

For Nebraska Medicine, dealing with the extreme is nothing new. In 2014 they established a 10-bed Biocontainment Unit to treat patients with Ebola. Operational since 2005, this is one of 10 such units in the country equipped to handle an outbreak of this nature. With that experience, Nebraska Medicine charged forward to plan for COVID-19. By utilizing extensive talent scenario planning they were able to anticipate a number of if/then situations. The team ran simulations with staffing demands for a multitude of different census points across all active departments. This planning helped them realize they needed to be clever with the staff they had to be able to meet many possible outcomes.

Read the full report here

About Avantas

Healthcare Working Smarter

Healthcare labor management is not easy. Healthcare is not an assembly line, and one solution does not fit all. Getting the right person to the right place at the right time to care for patients is a huge responsibility, and doing it correctly, at the right cost, is a science. We’ve been helping provider organizations do this – and only this – for more than 20 years. We get it. And, we’ve been successful in applying what we’ve learned along the way to help others solve the same challenges. We’d like to share this with you.
We will help you reduce the chaos, unnecessary expense, and stress typically associated with staffing and scheduling in healthcare. We will partner to help you solve immediate challenges, like excessive overtime, then grow with you, when you are ready, to deploy more advanced strategies and tools to better manage your staff. Go here for more information.

Our August Transformational CMO & Retail Assembly: Here’s What You Missed

Last week, our Transformational CMO & Retail Virtual Assembly brought together C-Suite leaders to discuss the prevailing trends and challenges marketers & retailers are facing today. Participants discussed customer engagement, cause marketing, digital-first strategies, leading martech solutions, and more. Check out our event highlights below to get the full scoop!

Welcome Workshop

Day one kicked off with a welcome workshop featuring Santhi Ramesh on leveraging social media to fuel growth and customer engagement. Ramesh broke down social media strategies at each stage of the customer journey: 

  • Discovery: At this stage, uncovering your customers’ rituals is crucial. She suggests deploying a social listening plan for insight-driven social content – in Hershey’s case, these rituals pertained to the “eating experience”. 
  • Awareness: For Hershey’s awareness initiatives, Ramesh and her team developed a User Generated Content platform for recipe sharing across all markets. Not only did this boost awareness, but it uncovered insights on customer’s untraditional food interests and combinations.
  • Engagement: Creating a dialogue is vital for boosting engagement on social media. Ramesh shares that inviting customers to debate is a powerful way to connect with consumers in a meaningful way. 
  • Conversion: By using holistic full-funnel activation and Amazon advertising, her team was able to reach and convert customers.
  • Retention: Creating a community for brand loyalists, Hershey’s was able to increase sales with their existing customer base. Ramesh adds that her team bounced off new product ideas with this segmented group to better understand what consumers’ evolving needs and desires were. 

Santhi closed out the session with a final piece of advice: search for new ways to leverage social media at every stage of the consumer journey. And at each stage, you’re given the opportunity to gain insights to better understand and reach your customers.

Workshop Discussions

“Content remains constant,” says Harshavardhan Chauhan of Spencer’s Retail. With 70% of marketers actively investing in content marketing, the importance of community building and influencer marketing is only growing as time goes on. In this interactive discussion, our C-Suite attendees share their struggles with community building – Chauhan says that if you’re regularly sharing content, it becomes more likely to become “discoverable” for consumers through various platforms. He adds that it is crucial to find tools that assist with meta-data and meta-tagging. Chauhan concluded with a point on how community-led content has become a hot trend this year, and noted that it can be a powerful strategy for engagement.  

A Brand That Makes a Difference: Amy Wigler of PBS speaks on how it has become essential for brands to adopt a unique storytelling approach. She adds that it is important to strategize engagement-driven content, and the old saying rings true here: “promotion is demotion – the more you shout about something, the more consumers are turned away.” With engagement being the name of the game, her team has taken on these practices:

  • Create empathetic and aspirational messages for consumers
  • Share relevant content, and don’t over-promote
  • Capitalize on cultural trends like escapism, and build it into storytelling

Amy closed out her session with a final comment: marketing is around the utility you get from a brand, and always be a part of a larger conversation.

CMO Innovator Of The Year Award: Kevin Miller, CMO of Fresh Market, was awarded as our CMO Innovator of the Year! Miller’s team was dedicated to creating an emotional connection with their audience and wanted to meet them where they’ve been for the last year and a half: at home. This prompted them to create a gourmet food magazine featuring top culinary influencers and chefs, along with recipes and QR codes directing readers to their e-commerce platform. Using this “traditional” form of media, they were able to boost traffic to their site and built their subscriber base to 1,000,000+. Miller touched on how their e-commerce strategy changed with COVID-19 – they launched Instacart prior to COVID, but noticed the high demand for curbside pick-up and decided to roll that out immediately to meet their customers’ evolving needs. To refine this experience, they prioritized hiring the proper staff and digital equipment, owning the entire process internally. He stressed that big ideas are important, and it’s crucial to measure the impact, test, learn, and deliver on your promises for customers.

Revisiting Your Martech Strategy: Krish Dhokia, VP of Marketing at Fairway Independent Mortgage Corporation discussed tips on how to revamp your martech strategy. In order to have a successful martech strategy, it’s imperative to have a close relationship with IT, and run the team like it’s an IT group that does marketing relations. He adds that IT doesn’t want to be the last person to know about the initiatives because they may need to properly map data. So being inclusive from the onset, and including them in the conversation, is important for continued success. In martech, you have to be prepared to make decisions and take calculated risks. Always take action with the data and insights produced by your initiatives. He closes with this statement: “As hard as it may be, you have to prioritize your investments, because not everything you want to do is going to have the desired budget. Prioritize these initiatives by the level of importance, speed to market, and ROI.”

CMO & Retail Keynote Panel 

“The Balancing Act: What it Means to Be a Digital-First Business”

David Schweidel, a professor at the Goizueta Business School at Emory University led our Day 2 panel discussion on what it means to be a digital-first business. Panelists included Aldo Carrillo from Paramount Pictures, Hernan Tabah from Altria, Francesco Lagutaine from M&T Bank, and Naveen Seshadri from Foot Locker. The group shared their experiences and insights on what it means to adopt a digital-first mindset, and what the cookieless future means for marketers.

Some key takeaways:

  • Word of Mouth is crucial – people will always trust their peers over an influencer or advertisement.
  • Investing in the tools necessary for a responsive supply chain is imperative for building trust with consumers. It allows you to deliver on your promises! Focus your efforts on building a better supply chain based on data and digitization.
  • Digital-first is the way of the future, and it will ultimately create more customer value as time goes on
  • Companies that adopt an omnichannel approach are creating the most shareholder value, take Warby Parker for example. 
  • Focusing on customer behaviors & drawing actionable insights will take on new importance in the cookie-less future.
  • Human empathy is not something you can scale or something that can necessarily be augmented digitally. There is still a strong value in face-to-face interactions and relationship building in retail! 
  • The move from third party to first-party data is an adaptation of marketing – a positive evolution that marketers should prepare for. 

Check out what is new with our Solution Providers

Momentive    |    Moosylvania    |     Mavrck    |    Informatica

Until Next Time…

Don’t miss out on the next Transformational CMO & Retail Assembly. Go here to request an invite for the November 17-18 Assembly!

#MillenniumLive with Espressive on Employee Self Help & Automation’s Role in Training

#MillenniumLive welcomes back Pat Calhoun, Co-Founder & CEO at Espressive. This time we discuss the essentials of employee self help, including the top tools for collaboration and automation’s role in streamlining tasks. Why is an internal help desk so important? Calhoun shares that delivering a good customer experience is extremely difficult to attain when you’re constantly retraining your teams. According to a recent Gartner study, 41% of teams are cycling on an annual basis – meaning crucial “tribal knowledge” is leaving the door.

Espressive’s mission is to leverage automation to address the common and reoccurring questions that teams have. Work from home continue to prevail as we approach 2022, and the role of the virtual help desk has become an essential for businesses’ to train and educate their teams. Listen to this week’s podcast episode to get the full scoop!

powered by Sounder

Find this podcast episode on SpotifyApple, Amazon Music, or SoundCloud.

About Espressive’s Barista

76% of help desk tickets could be automated.

Barista, Espressive’s AI-based virtual support agent (VSA), incorporates advanced NLP and conversational AI to automate resolution of employee questions, issues, and requests with personalized responses that result in elimination of 70% of help tickets, enabling you to recoup 1.2 weeks of productivity per employee per year.

  • Users experience 50 to 70% ticket deflection.
  • Barista delivers self-help across 14 departments and in 9 languages.
  • Espressive helps you address change management to ensure success with their Employee Adoption Program.

Interested in seeing for yourself? Go here to request a demo!

 

AKASA’s Annual Report on Automation

Contributed by AKASA

Automation Becomes a Future-State Mandate

Shifting business dynamics driven by the COVID-19 pandemic in 2020 have intensified the need for automation as organizations face massive financial pressures while abruptly transitioning their teams to remote work. When a hold on elective procedures and other early restrictions were put in place to slow the spread of the virus, many organizations had to furlough staff, operate with reduced capacity, and facilitate new work-from-home arrangements. When demand returned, hospitals and health systems had to bring staff back on campus and pivot operations once again. These challenges have many providers shifting their perspective of automation tools for the revenue cycle from nice-to-haves to future-state mandates. Organizations with robust automation solutions in place to fortify their revenue cycle operations were better able to mitigate the impact of these disruptions on their staff and their bottom line.

Challenges of Deploying New Technologies in a Pandemic

Traditional approaches to deploying automation or other technology tools typically require consultants to shadow employees to document workflows and processes. The new work-from-home environment and social distancing requirements for staff working on-site significantly limited the ability to shadow staff. As a result, implementation timelines slowed or projects were paused altogether, especially for solutions that rely on tandem work with consultants to develop and maintain them. As a result, revenue cycle leaders are prioritizing the ability of technology partners to deploy their solutions rapidly and entirely remotely.

Read the full report here

About AKASA

Be a Better Steward of the Healthcare Dollar

AKASA has pioneered Unified Automation™ to provide health systems with a single solution to efficiently, accurately, and autonomously navigate the complex state of medical reimbursement in the United States, enabling health systems to decrease their cost of care and be better stewards of the healthcare dollar. They evaluated modern automation approaches from some of the most complex domains in the world, and we derived core principles – like the best ways to monitor existing workflows, learn from workflows at scale and quickly adapt to change. They then built proprietary technology from the ground up to apply these core principles to the unique challenges of healthcare revenue cycle management. Unified Automation™ offers revenue cycle leaders at health systems and providers of all sizes a powerful new tool for doing more with less. Unified Automation™ can help restore trust in healthcare, by bringing together the best of people, data, and technology to address financial complexity in the U.S. healthcare system. Go here for more information.