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Strategy October 15, 2018

Live Updates from the ASI Power Summit

The 2018 ASI Power Summit is taking place now in Tucson, AZ. Stay up to date with the latest news and updates right here!

Monday, October 15

Influencer Marketing: Capitalizing on the Hottest Social Media Trend

ASI's Dave Vagnoni interviews Phil Koosed of BAMKO.

Shifting Business Models: Q&A With Philip Koosed, CEO of Top 40 Distributor Bamko
Phil Koosed of Bamko spoke with ASI’s Dave Vagnoni about his business and the future of the promotional products industry.

Koosed sees technology as being “massively disruptive” to the industry. Specifically, things like 3-D printing, machine learning and artificial intelligence. Bamko, he added, is investing heavily in all of those technologies. It won’t pay off right away, but it will in five or six years, Koosed said.

He also warned attendees to be wary of Amazon, saying suppliers and distributors can’t be complacent and expect that promotional products is different than other industries that have fallen to disruptive technology, as Blockbuster did in the not-too-distant past.

Koosed had some good advice for how the promotional products industry can kick start massive growth: “I think we have to be more ad agency and less tchotchke.”

Watch the archive of the Facebook livestream right here!

ASI's Nate Kucsma interviews John Glinski, owner of eXcellent Analytics.

Data Direction: How Customer & Marketing Analytics Could Change Your Business
John Glinski, owner of eXcellent Analytics outside of Philadelphia, advised attendees of the Power Summit to make better use of the data they collect and to look at more than simply sales-related numbers.

He recommends that at least once a month, you should have a meeting with the right people in your company to talk about the data and what you might learn from it. “Just start asking questions,” Glinski said.

It’s all about being inquisitive and having a data-driven mindset, he added.

ASI's Jake Krolick interviews Olivia Mannix of Cannabrand.

The Green Standard: The High Potential for Marketing in the Marijuana Industry
Olivia Mannix of marketing firm Cannabrand discussed how the promotional products industry can tap into the $50 billion legal cannabis industry, during a Q&A with ASI’s Jake Krolik at the Power Summit.

Because of strict advertising restrictions, those in the cannabis industry rely on events, which means tons of promotional products. Popular items include tote bags, lighters, branded pipes and vape pens. “Apparel is still king,” Mannix adds.

The cannabis industry continues to grow, with major brands like Pepsi getting into the space.

“Business is booming, and I can’t really keep up,” Mannix said.

ASI's Matthew Cohn interviews Nabeel Malik, a Washington, D.C.-based investor and crypto currency enthusiast.

Blockchain & Cryptocurrency: When is it Coming to the Promo Market?
Nabeel Malik, a Washington, D.C.-based investor and crypto currency enthusiast, believes digital currency like Bitcoin is the future. Why? “Nobody is controlling your money except you,” he said during a Q&A with ASI’s Matthew Cohn.

“Digital currency has only risen in value,” Malik said. “And it will only rise in the future.”

Though there have been some dips in the short-term, in the long-term it’s only gone up in value, he explained.

“Mainstream adoption is defined by 50 million users. The cellphone took 14 years for mainstream adoption. Bitcoin and digital currency are only around nine years old,” Malik said. “Once you get to the rate where 50 million are using them, you’ll see the volatility become a lot more stable. Until that happens, you’ll see [the value go up and down a little].”

He also explained the difference between Bitcoin and blockchain by comparing it to email and the internet: “Email was the first successful test case of the internet. Bitcoin was the first successful test case of blockchain.”

Blockchain is a secure and unchangeable open accounting ledger, he says.

40% of millennials like digital currency. “The new generation wants to use it,” Malik said. That’s why so many big brands have started accepting it and are exploring creating their own digital currency.

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ASI's Andy Cohen, at left, interviews Norm Hullinger, center, and Mitch Mounger during The Amazon Effect morning session. 

The Amazon Effect: How Disintermediation Will Impact the Promo Industry
Norm Hullinger: "Amazon at the gates is good for the industry. It's caused introspection and a look at our supply chain."

Watch the archive of the Facebook livestream right here!

ASI's Tim Andrews interviews David Miller, a principal in H.I.G. Capital’s Miami office.

Private Equity's Impact on the Promo Industry
David Miller, a principal in H.I.G. Capital’s Miami office, spoke with ASI CEO Tim Andrews about why private equity firms are interested in the promotional products industry. H.I.G. Capital acquired Bic Graphic last year.

“The industry as a whole has had this trend of the big are getting bigger,” Miller said. Back in the early ’90s, the top 10 suppliers accounted for about 10% of the industry. Now, he notes, they account for 30%. “There’s a tremendous amount of consolidation.”

The consolidation give private equity more money to work with to “create even bigger and better enterprises,” Miller said.

The $23.6 billion promotional products industry has been growing and continues to grow. “We don’t think it’s going anywhere, and we’re involved for the long term,” Miller says.

Watch the archive of the Facebook livestream here!

Jesse Itzler

Keynote Speaker Jesse Itzler
ASI Power Summit keynoter Jesse Itzler says T-shirts helped save him from a potentially disastrous concert appearance early in his career as a white rapper. 

Jesse was a white rapper with no music connections and a so-so singing voice who made his first demo using his telephone answering machine.

Jesse scored a record deal but then took his foot off the gas and failed, not getting a deal for a second album. But as his wife once said, you can be successful if you do what you love, what you're good at and provide something that makes a positive impact on the world. And that's how he made a success of his first company, Marquis Jet.

Welcome Remarks by Tim Andrews
ASI President and CEO Tim Andrews greets a packed house at ASI Power Summit, sharing great news about the economic boom the promo industry is enjoying.

ASI's President and CEO Tim Andrews greets a packed house. 

Photo Gallery from Day 1
Check out a Facebook photo gallery from the first day of the ASI Power Summit.