Research

REPORT

Catalysts: The Cultural Levers of Growth in the Digital Age

Disrupted markets demand dramatic changes to strategy and infrastructure. Cultural transformation is the toughest.

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The importance of organizational culture is now beyond question. No matter how digital they may be, all organizations are human and it’s the human factors of digital transformation that have grown in prominence. The ability to transform and create uncommon growth in the digital age obviously demands dramatic changes to your strategy and infrastructure, but it’s the challenge of culture which remains the number one hurdle holding many back from success.

Our latest research with business leaders from around the world outlines cultural levers that need to be prioritized to ignite digital transformation and create a path toward accelerated change.

In this report, you will learn:

  • What culture is and why it matters.
  • Where to begin and why a digitally-led transformation is different than others.
  • The hidden accelerators that make a significant difference to speed and sustain growth.

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Key Elements of a Next-Generation Digital Marketing Strategy

Get new insights into demand generation, driving digital commerce and optimizing customer experience.

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Six Drivers of Digital Marketing Success

Digital marketing has come a long way from simply putting banner ads on the internet. It has evolved from mass messaging to personalized messaging, and finally to integrated communications in blended physical and digital environments.

In addition to the traditional goals of creating awareness about the brand, marketers can now choose from a new range of goals, ranging from demand generation, driving digital commerce, and optimizing the customer experience of products and services.

In order to deliver on these new goals, marketers need a next-gen digital marketing strategy, one that goes beyond the scope of what marketers could traditionally achieve and harnesses the power and complexity of today’s marketing technology and data platforms.

This report defines the key characteristics of a next-gen strategy, and identifies 6 drivers of its successful implementation to help you evaluate your team’s readiness for the next phase of its digital evolution.

In this report, you will learn:

  • What defines a ‘next-gen’ digital marketing strategy
  • What key factors drive success in this new marketing paradigm
  • How to prioritize the use cases and technologies that are most important to your marketing organization

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Demand

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REPORT

The State of Digital Transformation 2019

Most transformation efforts continue to focus on modernizing customer touchpoints and enabling infrastructure.

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Digital is an enterprise-wide strategic priority — but there’s work to be done

Now in its fifth year, our annual “State of Digital Transformation” research continues to document the constantly evolving enterprise. As disruptive technologies and their impact on organizations and markets continue to progress, our research aims to capture the shifts and trends that are shaping modern digital transformation.

In 2019, strategic digital transformation is only becoming more pervasive moving beyond IT to impact competitiveness throughout the organization. Budgets are soaring. The list of disruptive technologies on the radar of stakeholders is expanding. Ownership is moving to the C-Suite and managed by cross-functional, collaborative groups. Customer experience (CX) continues to lead digital transformation investments, but as we observed in 2017, employee experience and organizational culture are also rising in importance to empower and accelerate change, growth, and innovation.

Digital Transformation as an Enterprise-Wide Movement

This year, it’s clear that digital transformation is maturing into an enterprise-wide movement. Digital transformation is modernizing how companies work and compete and helping them effectively adapt and grow in an evolving digital economy.

What’s also evident is that there is still much work to do as companies are, by and large, prioritizing technology over grasping the disruptive trends that are influencing markets and, more specifically, customer and employee behaviors and expectations.

The State of Digital Transformation: 5 Key Takeaways

  • A successful digital transformation is an enterprise-wide effort that is best served by a leader with broad organizational purview. For the second year in a row, CIOs are reported as most often owning or sponsoring digital transformation initiatives (28%), with CEOs increasingly playing a leadership role (23%).
  • Market pressures are the leading drivers of digital transformation as most efforts are spurred by growth opportunities (51%) and increased competitive pressure (41%). With high-profile data breach scandals making daily headlines, new regulatory standards like GDPR are also providing impetus for organizations to transform (38%).
  • While there is a growing acknowledgment of the importance of human factors in digital transformation – like employee experience and organizational culture – most transformation efforts continue to focus on modernizing customer touchpoints (54%) and enabling infrastructure (45%). But many organizations are not doing their due diligence when it comes to understanding their customers, with 41% of companies making investments in digital transformation without the guidance of thorough customer research.
  • Organizational buy-in remains a top challenge for those leading digital transformation. The companies we studied report digital transformation is still often perceived as a cost center (28%), and data to prove ROI is hard to come by (29%). Cultural issues also pose notable difficulty, with entrenched viewpoints, resistance to change (26%), and legal and compliance concerns (26%) stymieing progress.
  • Innovation is staking its claim within the organization. Nearly half of respondents report that they are building a culture of innovation, with in-house innovation teams becoming the norm.

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REPORT

Evolved Enterprise

Transformation isn’t about digital platforms. It calls for seamless experiences and flexible organizations.

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What does it mean to be an evolved enterprise?

Let’s be honest: most digital transformation efforts aren’t working. People are lost and don’t know where to begin. In fact, according to one survey, 90 percent of digital transformation projects have either fallen below planning expectations, delivered only minor improvements or altogether failed. There is a better way.

We call companies who successfully rise to meet the digital challenge evolved enterprises. Those who evolve think about digital differently. Regardless of what others have said, digital transformation isn’t about implementing digital platforms and cutting-edge technology – it’s about achieving growth by being committed to three key areas:

  • Developing transformational marketing strategies
  • Creating seamless customer experiences
  • Building smarter, faster, more flexible organizations.

To learn more about Prophet’s capabilities in helping companies develop digital transformation strategies that drive growth please read the eBook.

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Research Report: Becoming Purposeful

Industry leaders explain how the right purpose–authentic and differentiated–becomes a guiding force for change.

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Does Your Purpose Have the Power to Transform Your Organization?

Purpose is more important than ever. With always-on digital transformation, purpose is impactful in guiding and energizing organizations, in motivating talent and in elevating employee engagement.

Purpose can be powerful, but only if it is authentic and deeply ingrained. It’s easy for organizations to state a purpose, but many are merely scratching the surface; missing the full potential of the kind of purpose that can transform.

‘Becoming Purposeful’ is a research report that outlines the four fundamentals of what makes an organization truly purpose-led, and also explains how to action them in your business. Speaking to business leaders from Nationwide, eBay, The Co-operative Bank and more, it arms leaders of change with knowledge of how to chart their business’ journey toward becoming truly purposeful.

Want to learn how Prophet can help you unlock growth by defining and harnessing a compelling purpose to drive performance? Contact us to learn more

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REPORT

The Healthcare Shift: The Transformation to Customer-Centricity

Patients want to be treated as participants in their health. They need to be empowered, engaged and enabled.

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The Transformation to Consumer Centricity

Today’s healthcare world belongs to the ‘e-consumer’. The ‘e-consumer’ is the result of increased access to information, enhanced consumer experiences in other industries and uncontrollable rises in healthcare costs.

‘E-consumers’ need to be treated as powerful participants in their own health in partnership with healthcare organizations. They need to be empowered, engaged, equipped and enabled. For the e-consumer, moments of health are just as important as moments of sickness.

To create empowered, engaged, equipped and enabled consumers, healthcare organizations must develop products, services and experiences that align with consumer needs. The only way to do this is to become consumer-centric. Consumer centricity in healthcare requires that every team, service line and department exist to serve the consumer in a remarkable way, at every stage of the healthcare journey.

To understand what the healthcare industry is currently doing and can to do to reshape itself, Prophet conducted in-depth interviews with over 60 organizations around the globe, including large hospital systems, payers and pharmaceutical, medical device and digital health companies in the U.S., Asia and Europe.

During our conversations, Prophet set out to understand what these organizations are currently doing to be consumer-centric, where they would like to be in the future and the challenges they face in getting to their ideal state. From these interviews, Prophet identified five key shifts that organizations can make now to become more consumer-centric tomorrow. The shifts are universal to transformation, spanning the entire healthcare ecosystem and geographies around the world.

Our research revealed that not enough organizations have begun to make these shifts, and those who have started, haven’t made significant progress. In fact, less than 15 percent have made full progression on any of these necessary changes, revealing a massive opportunity for improvement.

Our most recent research has uncovered how payers, providers and pharma can accelerate their transformation to become more consumer-centric. Download the category research:


Payers
Providers
Pharma

Revolutionize
Experiences

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Download Making the Shift to Consumer Centricity in Healthcare – Part 2

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