Powerful People, Powerful Lessons
Remember Borders, the once-giant bookstore chain? At its peak, Borders and its chief competitor, Barnes and Noble, controlled a combined 40% of the bookselling market. While numerous factors led to Borders’ eventual demise, failing to jump quickly enough on the e-commerce bandwagon probably hurt the most.
The lesson? Adapt or die. It’s a lesson many members of this year’s Counselor Power 50 – the most influential business leaders in the ad specialty industry – clearly learned.
As Counselor Editor Andy Cohen says of the growing influence of e-commerce on our industry, “Many of the newcomers on this year’s list are e-commerce players, and even the person at the top of the rankings heads a distributor firm that is the biggest pure digital and mobile player in the market today.”
One of the best case studies to learn from involves the man at the top of the 2015 list: Kevin Lyons-Tarr, who rose to No. 1 in large part because of the explosive growth of the North American division of the company he heads, online seller 4imprint.
As Andy so rightly concludes: “Lyons-Tarr is espousing the business model of the future in the promotional products industry. He’s leading the way in the market for e-commerce, social network marketing and a digital-first approach that others are trying to emulate.”
ASI unveiled the latest Power 50 list at our just-concluded 2015 U.S. Power Summit, held over three days at a gorgeous resort about an hour south of Los Angeles (see pic at right for this year’s “class” of attendees). The agenda was our most future-forward ever, with topics like “Lessons from a Hacker,” “Marketing to Millennials” and “Go Mobile or Die.”
This was also one of our most controversial Power Summits.
By bringing in speakers we dubbed “the disrupters” for the way they’re changing the game, our aim was to provide as many lessons as possible in adapting to shifts in the marketplace. Alibaba's Michael Lee, with me at right, provided a lot of insight into how the world’s biggest online retailer continues to rake in billions.
And, since keeping pace with new technology is critical to any business as new ideas, we also included demos of 3D printers, holograms, wearable technology and drones.
If you missed the Power Summit, you’ll find coverage of many of the topics in Counselor PromoGram and on ASI’s website and social media pages (hashtag #asipowersummit). Click here for recaps, pics and videos.
And, we’ll continue to report on ways the Internet is changing how distributors in the promo products market operate in the pages of our magazines. For more guidance, you can also revisit the 2015 Counselor State of the Industry report and listen to the Counselor Podcast: Power 50 Series, featuring in-depth interviews with 10 industry insiders on topics of importance to us all.
As always, the information is yours for the taking.
Finally, it’s never too early to register for the 2016 Power Summit, taking place November 3-5, at the Trump National Doral Resort in Miami, Florida (or maybe the White House -- we'll see). Hope to see you there!