Research

REPORT

Brand and Demand Marketing: A Love Story 

It’s time for brand and demand to stop competing – because together, they are the ultimate power couple to build relevance and unlock uncommon growth.

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Today’s marketing organizations are experiencing tension between brand marketing and demand generation – a tension that undercuts growth and harms performance.  

But it’s time for brand and demand teams to stop thinking in silos and instead, work together in harmony on a shared agenda.  

To learn how the most effective organizations balance brand and demand we interviewed 10 senior marketing executives and surveyed 500+ global marketing and advertising leaders for our report: Brand and Demand Marketing: A Love Story.  

Key Takeaways

In our research, we uncovered the factors influencing investment decisions and operating model setup. We also looked for ways the best marketers measure the success of brand and demand. 

We found that the most effective marketers follow four common principles:  

  • Anchor Marketing Investment in Business Objectives 
  • Experiment to Win 
  • Build a Modern Marketing Organization 
  • Put the Customer at the Center

Interested in our Brand and Demand research? Get our latest report with fresh insights from the world’s top CMOs. Download today!

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REPORT

Executing on Customer-Centricity

Financial services execs tell us how they are transforming corporate culture, thinking bigger and acting bolder.

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How Financial Services Organizations Can Unlock Uncommon Growth

Non-traditional players – like fintechs, “super apps” and neobanks – have built their businesses around serving the whole customer. They use digital technology to open new sources of demand, and they find growth opportunities by constantly evaluating customer behaviors and designing solutions to fill the gaps.

Dealing with decades-old technology and product-centric org charts, traditional financial services organizations face higher barriers to achieving customer-centricity. To win and retain their customers, they’ll need to think and act like a disrupter by being hyper-focused on the 360-degree customer view.

Executing on Customer-Centricity is the latest research from Prophet’s Financial Services practice. It includes interviews with nearly 50 senior executives with customer-facing responsibilities across banking, insurance and financial services.  Our findings will help financial services organizations think bigger and act bolder, enabling them to achieve customer-centricity across the entire enterprise by transforming their cultures.

Read this report to gain deeper insights on:

  • The practice of customer-centricity – and how it pays off in share of wallet, higher loyalty, more referrals and stronger operational gains
  • The top five industry-specific challenges faced when it comes to achieving customer-centricity
  • The five actions legacy companies can take now to better orient themselves around their customers
  • A refreshed approach to transformation with culture as the keystone and Prophet’s Human-Centered Transformation Model as the guide

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REPORT

The 2021 State of Digital Transformation

Companies with successful transformations prioritize data management, innovation and customer experience.

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In this year’s State of Digital Transformation report, our goal is to identify the key differences between the businesses who succeeded at digital transformation, and those who were still struggling. We surveyed 587 executives from the US, Europe and China, across a range of industries to highlight not only their current digital capabilities but the key investments and choices they made that got them to where they are. By separating the responses of high performers and average performers, we identified the key characteristics of companies that successfully met their transformation goals.

This report serves as a benchmark for what digital maturity looks like in 2021 and charts a path forward for businesses that are looking to thrive in the next wave of digital transformation initiatives.

Key findings include:

  • Growth and innovation were the top transformation goals for top performers, while average performers cited modernization and efficiency as their top goals.
  • The majority of companies used a holistic, or coordinated simultaneous transformation approach to transform the organization, rather than transforming departments in isolation, or sequentially.
  • COVID-19 reduced budgets and resources for transformation, but it did not slow transformation programs. In fact for high performers, it accelerated transformation efforts.
  • Companies with successful transformations were much more likely to prioritize data management, innovation, customer experience and employee experience initiatives, compared to average companies.
  • Transformations led by the CEO are more successful than those led by other positions
  • Digitally mature companies are looking to invest in leveraging data, optimizing customer and employee experiences, and building external partnerships and networks to prepare for the next phase of transformation.

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REPORT

Transforming Healthcare: The Forces That Redefine Work and Culture

It requires centering brands on a strategic purpose to create shared value and engaging brand experiences.

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The COVID-19 pandemic demonstrated that all types of healthcare organizations—pharmaceuticals and biotechs, health insurers and hospital systems, device and equipment manufacturers—could change successfully, at scale and with great speed. Despite the formidable challenges, many organizations were effective in taking deliberate steps to upend historical ways of working and cultural norms.

This research dives into the industry’s change readiness and synthesizes perspectives on culture transformation from 70+ senior leaders across healthcare sectors.

Read this report to gain deeper insights on:

  • The external forces that are expected to create enduring changes in organizational cultures
  • Tips for how healthcare and life sciences organizations can prepare for future evolution by instilling adaptability and resilience in their people and teams
  • A recommended path forward that enables leaders to drive successful and lasting transformation

The analysis and recommendations captured in this dynamic report will help executives advance the lessons forward by building stronger cultures and teams while accelerating their transformation journeys.

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REPORT

High-Concept Thinking: 6 Ways To Create Striking Innovations

A high concept creates clarity about an idea, making sure it’s developed and delivered as originally intended.

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How To Find (and Keep) Your Competitive Edge in Innovation

Innovation is the cornerstone of business growth today. Figuring out the right formula results in big ideas and opens the door to new business opportunities. ‘High-concept’ thinking is what’s separating successful innovators from the rest of the field. A high concept creates clarity about an innovative idea and ensures the idea is developed and delivered as originally intended.

In this report, our Experience & Innovation practice outlines how to take your innovation strategy to the next level with high-concept thinking.

Read this report to learn: 

  • The definition and key traits of high-concept thinking
  • How high-concept thinking can help re-center how your company thinks about innovation
  • The six critical ways high concepts are used for innovation
  • Examples of successful high concepts in practice

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REPORT

Winnovation Factors: Five Criteria for Innovation Excellence

Working with intensely nimble companies, we’ve distilled five essential factors for innovation.

Transform from innovation laggard to innovation leader

The pandemic disrupted business operations in ways leaders could not have possibly imagined. Forward-looking companies used this as a catalyst for innovation, to digitize services, fast-track disruptive products, or access new markets – but there were many who fell short. The appetite for innovation is far from slowing and the urgency for businesses to continue to flex their innovation muscle has never been greater. To avoid the risk of slipping behind, ill-prepared for the next crisis, companies need to be putting innovation front and center now to ensure they seize the seeds of opportunity and prosper in a post-pandemic world.

Prophet works with high-performing, innovation-driven companies of all shapes and sizes across a spectrum of categories and markets. There’s a lot other companies can learn from their approaches and attributes. We’ve distilled what we’ve discovered from our work into a set of five essential factors that are present, either in part or in full, at those nimble companies reaping the benefits of innovation-driven success.

Want to unleash innovation-driven growth and build resilience for your business? Read the five criteria for innovation excellence here.

Prophet’s Experience & Innovation practice can help you to underpin a superior approach to innovation to help you realize your ambitions, get in touch. 

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A Guide to Driving Organizational Change for the Future of Work

Evolving from traditional to transformational change management isn’t easy. Yet it is the surest path to growth.

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Want to get your organization fit for the future working landscape?

The past year has shown the critical capacity organizations need to build for change. The COVID-19 crisis accelerated many organizations’ re-examination of their ways of working and cultural norms. It also introduced a profound new set of forces of organizational change, putting many organizations’ culture and resilience to the test.

To thrive today, companies need to evolve from traditional to transformational change management across all levels of the organization in order to support long-term growth and build resilience.

The latest research from our Organization & Culture practice looks beyond the self-evident insights of 2020 to propose a way forward for leaders driving transformation and how to make an organization fit for change.

This report provides deeper insights on:

  • The critical new forces of cultural change shifting the landscape and shaping transformation for years to come
  • A new change model that tracks an organization’s ability to transform across multiple measures
  • The three primary areas where leaders should invest to help their organizations become fit for the future working landscape
  • How to identify your organization’s fitness level and the kind of work needed to strengthen it for transformation
  • The connection between an organization’s change fitness level, its ability to take on transformation and positive financial outcomes

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REPORT

The Critical Traits of an Innovative Company in a Post-Pandemic World

To stay relevant, Innovation can’t stop now. The future depends on a steady stream of new ideas.

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It’s the best of times to innovate. It’s the worst of times to stand still.

The COVID-19 pandemic has been a catalyst for innovation and accelerated change with many companies forced to adapt business models and develop, deliver and scale new products, services and processes rapidly in order to remain relevant and sustain competitive advantage. Innovation can’t stop now. The future success of any company depends on its ability to continually innovate.

In this report, our Experience & Innovation practice outlines what’s required for a company to become a serial innovator, one that can not only survive but also thrive in our disruptive world.

Read this report to learn: 

  • Why innovation is imperative now
  • The seven traits of a truly innovative company – impacting how (and how well) an organization sets itself up to innovate
  • Where your company sits on our Innovation Grading Model
  • How to be an enlightened innovator for the times ahead

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REPORT

Transforming Healthcare: The State of Digital Marketing and Selling in Life Sciences

Leaders in healthcare need to embrace a marketing and sales strategy that is digital and collaborative.

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The pandemic accelerated the integration between marketing and sales – and it’s never going back to the way it was. Leaders in healthcare and life sciences will need to embrace a marketing and sales strategy that is both digital and collaborative to reach business goals. The reality is that if organizations fail to transform their go-to-market approach they will be at risk of losing customers.

Transforming Healthcare: The State of Digital Marketing & Selling in Life Sciences identifies and quantifies the salient trends and key practices used by top companies today. Based on data from Altimeter’s research for The 2020 State of Digital Marketing and The 2020 State of Digital Selling, this industry-specific report provides insights for healthcare and life sciences leaders looking to strengthen their marketing and sales functions and jumpstart a new era of uncommon growth.

Read this report to gain deeper insights on:

  • The top priorities of marketing and sales teams in healthcare and life sciences today
  • The biggest obstacles organizations are facing in terms of digital collaboration and performance
  • Marketing and sales leaders’ candid observations of what their teams are doing well – and how they need to do better
  • Four key recommendations for marketing and sales teams seeking significant performance gains

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REPORT

The Insurance Customer of the Future: Welcome to 2030

Take a closer look at the broad demographic, social, economic and tech trends that will define the next decade.

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Meet Jamie, the insurance customer of 2030. What will it take to win her business?

The Insurance Customer of the Future report is the latest research from Prophet’s Financial Services practice. It explains how insurers can drive growth by putting their customers at the center of their transformation strategies. The first step? Understanding their customers on a deeper level. Not only understanding who they are, what they value and what they need in the present, but also several years down the line.

Prophet’s experts centered their research around Jamie, an insurance customer living in 2030. By understanding and anticipating the generational trends and technological possibilities that will shape Jamie’s environment, insurers can make the right transformation moves now to win Jamie’s – and her peers – business in the future.

Read this report to gain deeper insights on:

  • The digital transformation trajectory of the insurance industry and its implications for business leaders
  • The broad demographic, social, economic and technology trends that will define the decade ahead for insurers and their customers
  • The evolving consumer demands that will shape the future of insurance
  • The ways insurers need to transform their businesses to win in the “new world”

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How To Sell Insurance in the Post-Pandemic Digital Age

Agents need organization structures to help navigate a fast-changing, digital environment. Our roadmap helps.

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The insurance game is changing. The past year has seen life completely upended for insurance agents, whose success once hinged on a certain skillset, often with physical touchpoints. While many insurance providers have raced to increase digital selling efforts in reaction to COVID-19, the results have been mixed. It’s going to keep changing too, so it’s time to adapt to fuel a post-pandemic recovery and lead the way to future growth.

Embracing Digital Selling from our dedicated Financial Services practice outlines a roadmap for digital selling with the steps to take now in order to create a strategy that supports new digital tools, efficient models and the development of the necessary capabilities.

In this report you will learn:

  • The four primary challenges insurers need to overcome to compete in the digital world
  • How insurers can maximize digital selling efforts for both short and long term growth
  • A roadmap to guide how to install a structure that helps agents navigate a fast-changing, digital selling environment

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Virtual Care: From Rarity to Reality

In their quick pivots to telehealth, leaders learned plenty about patient experiences and the care continuum.

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How 12 Industry Leaders Are Shaping the Virtual Care Revolution

The role virtual care plays in the healthcare ecosystem has rapidly accelerated since the onset of COVID-19. In fact, according to research by Doximity, as many as 20 percent of medical visits in 2020 occurred via telemedicine. And it’s clear the trend is only gaining momentum.

To assess how the healthcare universe is responding, Prophet spoke to 12 leaders across the ecosystem to understand how this shift is transforming the patient experience and the broader healthcare care continuum.

Read this report to gain deeper insights on:

  • Four virtual care sub-categories and the ways they continue to blur virtual wellbeing, connected health, virtual health and virtual medicine
  • The changing dimensions of audience and interactions
  • Insights from 12 industry leaders on what organizations are – and aren’t – getting right
  • Three path companies can take to connect virtual care to better serve patients and customers and to achieve exceptional growth

For full insights, download the full report below.

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