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Every year each of the HSMAI Sales, Marketing, Revenue Optimization, and Global Distribution Advisory Boards scout important issues for the coming year. This article looks at four themes that cut across the commercial disciplines.
1. AI & Technology
It is no surprise that embracing and leveraging artificial intelligence (AI) and technology was top of mind across advisory boards. There was a focus on automating processes to enhance efficiency and improve productivity.
2. Talent
The battle for top talent continues to intensify. Much like the HSMAI Foundation, advisory boards are prioritizing retaining, developing, and recruiting skilled professionals. Tactics include illustrating clear and compelling career paths.
3. Commercial Strategy
Aligning sales, marketing, and revenue management strategies is more crucial than ever. Advisory boards are actively engaging in discussions on how to ensure these areas work in concert rather than in silos.
4. Economics
With the constant flux of the global economy, advisory boards are deeply engaged in understanding the cost of sales, return on investment (ROI), and macro-economic trends. Staying ahead of economic shifts allows organizations to make informed decisions, mitigate risks, and seize opportunities as they arise.