Research

REPORT

The State of Digital Selling 2020

Selling has always been a team sport. But as digital excellence builds, boundaries are even blurrier.

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Insights for Driving Sales Productivity & Resilience

Digital has long been a key ingredient in sales teams’ success, even before disruptive technologies made digital transformation a business-wide imperative. Now, in the face of the COVID-19 pandemic, digital selling is more important than ever.

In our 2020 State of Digital Selling research, we sought to understand the capabilities and key success factors enabling the digital transformation of selling among B2B businesses.

Based on a survey of 506 sales professionals across North America, Europe, and China, this report offers a comprehensive view of how B2B sales teams are leveraging digital in their sales processes.

Key Learnings From the Report

  1. Now, more than ever, selling is a team sport.
  2. Sales teams need to make the digital mindset shift.
  3. High-touch, high-value cross-functional selling outperforms automated high-volume selling.
  4. Top performers focus on the customer through customer-focused metrics, cross-functional teaming, and selling by vertical industry.
  5. As teams build digital excellence, boundaries are likely to blur between sales and marketing teams.
  6. Digitally mature sellers are outperforming less mature teams through the global COVID-19 pandemic.

For all the data and insights, download the full report below.

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REPORT

Report: Benchmarking Digital Maturity in B2B Companies

Discover the main drivers of digital transformation investments and initiatives for B2B companies, based on 170 interviews.

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B2B organizations have made drastic changes in response to COVID-19 – shifting to remote work, digitizing customer offerings and moving commerce online. Digitization planned to take years happened in months.

Based on conversations with 170 senior B2B transformation leaders and C-suite executives, this report reveals the main drivers of digital transformation investments and initiatives for B2B companies in 2020.

Here’s what you can expect to learn:

  • Substantial Operational Shifts Due to COVID-19
  • COVID-19 Exposed Significant Gaps in Digital Selling Capabilities
  • Marketing Transformation Continues Despite and Because of the Pandemic
  • Five Stages of Digital Transformation Maturity
  • Most Companies Continue Transformation Initiatives – Digitally Mature Are Accelerating
  • Application of Digital Tools Varies by Maturity Stage
  • Technology Priorities Reflect Level of Digital Transformation Maturity
  • Digital Transformation Sponsored Primarily by CIO/CTOs and CEOs

Download the full study to explore additional findings and examine detailed charts for each of the headlines provided above.

About the Authors

Fred Geyer and Joerg Niessing are co-authors of The Definitive Guide to B2B Digital Transformation, curators of B2BDigitalTransformation.com – an online resource center for B2B transformation leaders and facilitators of a monthly webinar series featuring senior B2B executives discussing the challenges of B2B digital transformation. For more information about the guide, the webinar series or to gain access to the online resources go to B2BDT.com. Fred is a Strategic Advisor at Prophet, a leading growth and transformation consultancy and Joerg is Senior Affiliate Professor of Marketing at INSEAD and director of INSEAD’s “B2B Marketing Strategies” and “Leading Digital Marketing” programs.

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REPORT

Reclaiming Interest: A Transformation Playbook for the Insurance Industry

Learn to transform your organization from the inside-out, adding the capabilities and talent needed right now.

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While insurance companies have made much progress in reinventing themselves for today’s customers, the results are clear: there’s still some way to go. As many turn their attention toward planning and formulating their strategies for the year ahead, this playbook from our Financial Services practice outlines the different levers to pull in order to speed up digital transformation efforts and customer experience initiatives.

In this playbook you will learn:

  • How insurers can transform their organizations from the inside out by effecting culture change and equipping the business with the right talent and capabilities to succeed in 2021.
  • How a customer-centric approach can help your business, how to get started and how to measure you efforts.
  • What the state of transformation is in the industry today and the reasons to hit the gas now.

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REPORT

The 2020 State of Digital Transformation in Southeast Asia

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Accelerating Digital Transformation to Drive Uncommon Growth

With the backdrop of the COVID-19 crisis, there is more pressure for digital transformation to perform than ever. Altimeter, a Prophet company surveyed more than 600 key executives about how they are pursuing digital transformation and the impact of the pandemic (see our global report “The 2020 State of Digital Transformation”), including 100 in Southeast Asia (SEA) across Singapore, Indonesia and Vietnam. The study reveals interesting differences between digital transformation effort and sentiment in SEA and the rest of the world.

While the rest of the world is becoming more risk-averse, SEA expresses optimism about the future outlook – in fact, a significantly higher number of companies have accelerated their digital transformation initiatives and are focused on growth.

There are five key takeaways regarding digital transformation in Southeast Asia:

  • Top drivers of digital transformation in SEA is more growth-oriented, focusing on improving efficiency to go after new markets and customers while adopting more agile and flexible operation.
  • SEA experiences less financial impact due to COVID-19 than the rest of the world, and they have accelerated investments in digital transformation, especially in marketing operations.
  • Budget cuts are less of a digital transformation challenge to SEA than rigid infrastructure, data quality, ROI articulation as well as digital literacy and expertise within the organization.
  • The focus of digital transformation investments in SEA leans towards connectivity, social and consumer platforms followed by AI & Analytics.
  • There is stronger leadership, culture and optimism of digital transformation in SEA thanks to the consistent and visible efforts driven by top executive in C-Suites, especially CEO & Board of Directors, and CDO

What are the opportunities and challenges for companies to accelerate digital transformation in Southeast Asia? Download the full report to learn more.

Connect with us to learn how Prophet can help you drive uncommon growth in Southeast Asia.

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REPORT

The State of Digital Transformation in China: 2020 Report

CEOs here are more likely to have oversight of transformation. But they are worse at communicating about it.

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Advancing Digital Transformation to Grow Better in China

With the challenges brought by COVID-19 and other geopolitical factors, new opportunities and industry patterns have emerged. It is now imperative for companies in China to seize these opportunities and accelerate their digital transformation agenda.

In our new report The 2020 State of Digital Transformation, Altimeter, a Prophet company, surveyed more than 600 executives, including 100 in China, about how they are pursuing digital transformation. The research revealed some distinct regional differences and highlighted the opportunities for companies in China to achieve uncommon growth.

What you will learn in this report:

  • Significantly more Chinese CEOs understand they are ultimately responsible for digital transformation compared to the rest of the world.
  • Yet CEOs in China often fail to communicate transformation as a top priority and don’t provide enough strategic guidance.
  • The top drivers of digital transformation in China are to build a more resilient and high-performance culture and operation.
  • Compliance concerns, resistance to change and budget are the top three challenges of digital transformation.
  • While the rest of the world is committed to five main technologies, Chinese companies are more diversified by placing smaller bets in more types of tech.
  • There is still much work to be done for Chinese companies to allow better collaboration across all departments and functions.
  • Chinese companies still trail other regions in making data use a core strategic component.

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Slingshot Your Organization Towards a More Resilient Future

To change quickly and build resiliency, organizations need to prioritize higher-impact cultural shifts.

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Rarely have organizations been forced to tackle volatility in so many areas all at once until the global coronavirus pandemic, demanding many to evolve in ways they hadn’t previously considered plausible, or possible to accomplish in such short timeframes. With the right approach, however, the gravity of the current situation can become an opportunity, a slingshot to accelerate transformation and speed an organization’s course to a more resilient future.

From witnessing the lightspeed changes being made in organizations around the world over the past few months, the latest report from our Organization & Culture experts – The Slingshot Effect – lays out the specific shifts organizations need to make now. With the right processes, commitment, workforce and mindset, others can learn how to ‘slingshot’ their organizations’ transformation, build the flexibility to thrive on change and the agility to respond to any future shocks faster.

In this report you will learn:

  • Why taking a human-centered approach remains a key element in any successful transformation
  • How to determine the most relevant shift in order to build resilience where your organization needs it most
  • Where to prioritize action and guidance on what to do next
  • Examples of how other companies are moving forward

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REPORT

The 2020 State of Digital Transformation

Operations support, agility and revenue are priorities, as firms race to smooth out work-from-home challenges.

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Benchmarking Digital Maturity in the COVID-19 Era

The COVID-19 crisis caused a major upheaval in the first half of 2020. Within weeks, organizations made drastic changes that were expected to take years, like shifting employees to remote work and digitizing customer offerings. The digitization of organizations that was previously anticipated to take years happened in a matter of days.

There is now more pressure than ever for digital to perform in ways that can power meaningful business transformations.

This year’s annual State of Digital Transformation report:

  • Examines how organizations pursue digital transformation, analyzing differences based on digital maturity stage, industry, geography, and organization size.
  • Examines the impact of COVID-19 on digital transformation efforts.
  • Offers a comprehensive benchmark of digital maturity across five areas that define customer-focused digital transformation: Leadership and culture, customer experience, marketing and sales, technology and innovation, and data and artificial intelligence.

The report has four major takeaways:

  • Operations support, agility, and revenue are top priorities given COVID-19. The lead use cases are working from home (82%); digital marketing (78% investing to improve); digital selling (76% trying to close compatability gaps); virtual product/ service delivery (52%); and growth initiatives (37%).
  • The more digitally mature the company, the more they are focused on responding to and taking advantage of the COVID-19 crisis. The less digitally mature the company, the more they are working on implementing digital basics.
  • Digitally mature companies are maintaining their strategic focus despite the pandemic; they focus on digitally-driven innovation, incorporating a new wave of technologies with an intensity that is outpacing the market.
  • Leadership from CEOs and CIO/CTOs — supplemented by CDOs, Innovation Officers, and Boards — helps ensure firms chart and follow their digital transformation ambitions.

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REPORT

2021 Growth Acceleration Playbook

To achieve uncommon growth, double down on cultural changes to equip your teams for the future.

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For most business leaders, this is a pivotal time. The decisions being made are dictating whether you survive or thrive in these uncertain times and there is enormous pressure on leaders to step up and provide the structure, guidance and clear communication that people are looking for.

This playbook brings together some of the latest thinking from our experts to help with those decisions, from how to double down on your company culture and equip your teams for the future way of working, to understanding the new needs of your customer and making the digital go-to-market shift. It provides some actionable ideas to get your business back on track now as we move out of this crisis and for the growth opportunities beyond.

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The Cultural Levers of Pharma’s Transformation

Cultural transformation requires a human-centered approach, in order to bring along their broader workforce.

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Our latest research with pharma executives from around the globe offers an actionable playbook for driving cultural change, helping organizations to focus their efforts and ensure culture is fully aligned to support transformation.

From where to start, to where to go next, The Cultural Levers of Pharma’s Transformation helps business leaders understand where to focus their efforts based on their greatest needs for cultural change and how to bring their broader workforce along on this important transformation journey.

In this report you will learn:

  • Why culture – and taking a human-centered approach – remains a key element in any successful transformation
  • How to determine key cultural levers on which to focus, based on your organization’s greatest needs for cultural change
  • The critical characteristics for leaders to embody in bringing their organizations along on the transformation journey
  • Best practices and examples of how other pharma companies are moving forward

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REPORT

Post-COVID Shared Spaces: From Response to Reimagination

Shared spaces need to be reimagined. Here’s how to deliver thoughtful experiences and services.

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COVID-19 has changed our perceptions of physical spaces. It has caused an upheaval in how we work, shop, interact with one another and so much more. But as society re-opens, we need to move past the short-term “fixes” that many essential businesses introduced during the onset of the crisis and think about the long-term implications of what comes next.

Businesses and brands need to understand what are and what will be, the drivers of customer behavior in this next period so that they can reimagine their experiences and services to deliver against them. Without question, digitally-enabled experiences will play a major part of the “new possible” and brands need to respond and prepare their organizations today.

Read our guide to learn:

  • What does the “new possible” look like and how to accelerate transformation
  • Where to start and what are the steps required to develop the right strategy and new experience principles
  • What are the next generation experiences that will define how to operate effectively in this new environment

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REPORT

Reimagine Your Business for Uncommon Growth in the Post-COVID-19 Era (Part 2)

Learn about the underlying consumer trends, social and technological enablers leading to new opportunities.

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The COVID-19 pandemic will have a long-lasting impact on businesses and their customers. Some industries have been disrupted, while others thrive despite the crisis. Leading through disruptive times requires businesses to consider new consumer perspectives, rethink their value propositions and further accelerate their digital transformations.

At Prophet, we have identified two imperatives that will help businesses achieve uncommon growth in the post-COVID-19 world: adapting to the new normal consumers and accelerating digital transformation. In this report, we delve into the underlying consumer trends, social and technological enablers, as well as emerging patterns of digital transformation that all work to point out new opportunities.

In this report, you will learn:

  • Key consumer trends that will impact future business growth in the new normal
  • Major enablers that will accelerate digital transformation post COVID-19
  • Emerging patterns across industries that reveal the state of digital transformation in Asia
  • What business leaders can do next to seize the transformation opportunity

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REPORT

Organizing for Digital Marketing Excellence in Life Sciences

We offer a practical guide to help life sciences execs evaluate how well their digital marketing is working.

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Over the past few years, the life sciences industry has experienced shifts in how sales teams interact with customers. And with onset of COVID-19, many of those demands accelerated rapidly. Companies must find ways to adapt and enhance digital capabilities to avoid disruption and drive strong business outcomes.

In this report, co-authored by Prophet and Altimeter, we offer a practical guide to help life sciences executives evaluate how their digital marketing organizations are working today and how to organize for the future. Finding the best digital marketing operating model can be complex – and may require rethinking operational hierarchies and legacy structures – but organizations must prioritize the changing demands of customers and find a model that meets their needs.

Read this report to learn:

  • Three organizational models that will help identify your best organizational fit.
  • The key questions to ask when evaluating the success of your digital marketing structure
  • Relevant examples from life sciences and B2B healthcare executives and their organizations’ approach to digital marketing

This report specifically looks at digital marketing within life sciences organizations but for cross-industry examples, you can read more in Altimeter’s research, “Organizing for Digital Marketing Excellence”. In addition to the three operating models, it also includes a four-step process for organizing your digital marketing team. Read the full report here.

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