The Professional Beauty Association (PBA) recently hosted its second annual Executive Summit at the Omni Scottsdale Resort & Spa at Montelucia (AZ). This two-day event titled, ‘The Changing Consumer Experience,’ brought 135 industry executives from over 80 professional beauty companies together to learn, network, and experience presentations from three field-expert speakers. “The Professional Beauty Association created the Executive Summit with the focus of bringing our industry leaders together to network and learn from thought leaders outside of the professional beauty,” says executive director Steve Sleeper. “This year focused on the correlation between changes we are experiencing in our industry and purchasing decisions made by consumers and the increasing millennial presence. Even though the focus of the event was on making connections in the digital space, nothing replaces the opportunity to connect in-person. The energy in the room speaks volumes for the impact this event had on our attendees.”
Executive Summit speakers included: Terry Jones, founder and former president and CEO of www.travelocity.com; Lauren deLisa Coleman, mobile strategy specialist and analyst; and Scott McKain, founder and CEO of the Distinction Institute. Each speaker focused on the mind of the consumer. Jones kicked off the event with key points on building a culture of innovation within their business. “It isn't only about what's happening directly in your business, it's about what's happening upstream and downstream,” says Jones. “You need a culture of innovation in order to deepen your digital relationships and a team that supports it. It's important to remember, without risk and without failure there is no progress."
Coleman continued the topic of innovation by speaking about the mind of millennials and how to use a digital strategy to create an impactful message. “The three E's of engagement for millennials are: enable, entice and enroll. Millennials are a diverse group of tech savvy consumers driven by social responsibility and a strong sense of self-empowerment, or what I call a leaderful mindset,” says deLisa Coleman. “Thus, awareness of these new values, mindset, and demographic makeup are absolutely key for executives and entrepreneurs who want to truly engage the millennial and establish trust in order to partake in what Forbes magazine confirms as collective $200 billion dollar annual spending power.”
In closing, McKain shared steps on how to differentiate your company within the competitive marketplace. “Organizations often overlook customers because they're concentrating on their competition,” says McKain. “This strategy can destroy you. If all you’re doing today is what you did yesterday, it’s a recipe for failure. Being ‘great’ is no longer good enough to grow your business. It’s the price of entry. You must be asking, 'What does it take to stand out?’ Your primary focus should be on how you can create distinction in your marketplace.”