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1、BY OMAR AKHTAR,RESEARCH DIRECTOR AND SENIOR ANALYST,ALTIMETER,A PROPHET COMPANYTHE 2023 STATE OF DIGITAL TRANSFORMATIONKey insights to define the next phase of transformationTable of Contents03 Executive Summary18 Digital Capabilities08 Digital Transformation Approach05 Digital Transformation Goals
2、and Metrics28 Key Takeaways24 Future Investments14 Organization and Culture31 Methodology,Open Research,Permission and Disclaimer32 About the Author and Altimeter,a Prophet company33 How to Work With Us2In this years State of Digital Transformation report,our goal is to identify the key differences
3、between the businesses who succeeded at digital transformation,and those who were still struggling.We surveyed 602 executives from North America,Europe and Asia across a range of industries to highlight not only their current digital capabilities,but the key investments and choices they made that go
4、t 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 2023 and charts a path forward
5、for businesses who are looking to thrive in the next wave of digital transformation initiatives.Executive SummaryKey findings include:The majority of companies(45%)chose business growth as their top goal for digital transformation,followed by innovation(45%)and efficiency(42%).Top performing compani
6、es tracked metrics like innovation(36%)and digital literacy(32%)to measure digital transformation success,while average performers tracked business performance(42%)and efficiency(40%).Limited budgets(34%)and a resistance culture(27%)were the top obstacles to digital transformation success.Despite ch
7、allenging economic times,42%of digitally mature companies were accelerating their digital transformation efforts in the new year.Top performing companies were more likely to have their digital transformation led by the CEO(33%),compared to average performers where the CIO or CTO(36%)were more likely
8、 to be in charge.The top transformation priorities for companies were upgrading technology(50%),achieving operational efficiency(34%)and getting more value from data(32%).3In 2023,digital transformation priorities shift from buying shiny new objects to leveraging existing betsWhen we began 2022,digi
9、tal transformation was poised to enter an exciting new phase.There was a lot of hype around compelling new technologies such as cryptocurrency,blockchain,NFTs and the Metaverse.Most enterprises had survived the worst of the pandemic and were even thriving as customer demand roared back.Digital progr
10、ess happened at an exponential rate as businesses raced to offer ecommerce,virtual collaboration,better customer experiences and innovative products.Now,in 2023,a series of events have stopped the march of digital transformation and sent us back to basics.The war in Ukraine,inflation,climate crises
11、and economic uncertainty have collectively brought the world to the brink of a global recession,and businesses are feeling the effects.In our conversations with business leaders,and the results of the survey,a clear theme has emerged.Businesses are still committed to digital transformation,but theyl
12、l have to make do with less.This means that for the most part,investment in new technologies will be limited,and practice leaders will be under pressure to deliver results using their existing people and technologies.Our findings show four areas where businesses can be expected to focus for this yea
13、r.Employee skills and experience:Over the pandemic,companies that prioritized the employee experience were far more likely to have successful transformations.Were seeing continued focus on improving the workplace,collaboration and building a digital-first culture that promotes agility and autonomy.D
14、ata management and analytics:Businesses have even more to gain by leveraging their customer data for better engagement and product innovation.It also allows them to rely less on data from tech giants such as Google and Meta.We expect to see increased investment in data integration,analytics capabili
15、ties and data science leadership.Go-to-market integration:As global demand cools,businesses will try to get more lifetime value out of existing customers and reduce spend on trying to convert new ones.This means increased coordinated engagement from marketing,sales and service.As a result,well see m
16、ore unified go-to-market teams,and more platform businesses that have free reign to engage the customer across their entire lifecycle.Operational efficiency:Businesses indicated the need for greater efficiency and speed in their existing processes.This means better cross-functional communication,bet
17、ter storage and deployment of content,and more efficient data sharing across teams.4Digital Transformation Goals and Metrics5Business growth is now the top transformation goal as innovation takes a back seatThis year,innovation dropped down to second place as increasing core business growth jumped t
18、o the top of the list of digital transformation goals(46%).Mature companies were far more likely to cite growth as their top goal(60%)compared to average companies,who were more likely to focus on replacing outdated technology and modernizing the workforce(49%).This highlights the gap between digita
19、lly mature companies,who have moved past the efforts to modernize and update technology and are now focusing on getting the best performance out of their existing systems.As the looming recession presents business challenges,well see even more pressure for transformation efforts to show immediate,qu
20、antifiable business results rather than simply catching up with the times.Figure 1:What were the top reasons for your companys investment in digital transformation?46%60%35%45%48%46%42%32%39%39%45%44%Increase core business growthInnovate new products,services or business modelsBecome more efficient
21、and work at greater speedModernize workforce and working methods to stay relevant with employees36%24%49%15%10%17%28%30%24%28%35%24%21%16%22%Replace outdated or obsolete technologyCompete with newer business or products in the marketSurvive or stay relevant after market-disruption or change in custo
22、mer behavior/demandBecome more customer-centric across marketing,sales and serviceTo obtain better data and insights for the organization to useTotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are
23、making good progress on the others,and expect to meet most of them within the timeframe we expect6Innovation and digital literacy are mature markers of success compared to business performanceWhen it comes to measuring the impact of digital transformation,the majority of companies look at gains made
24、 in operational efficiencies(39%)and business performance(37%).These metrics make sense for most companies,especially those that have undertaken digital transformation specifically to improve their bottom line.However,theres a telling difference between average performers and more digitally mature c
25、ompanies.The latter tend to also measure business innovation and digital literacy as markers of success.Its a good reminder that a successful transformation is as much about looking forward,as well as improving the current state.Mature companies put a premium on new ideas,and invest in upgrading the
26、 skills of people,rather than just technology.Figure 2:What metrics does your organization actually measure today related to digital transformation?Operational Efficiencies (e.g.,productivity,cash flow,gross margin)39%32%40%37%33%42%34%31%27%32%36%25%30%25%41%27%25%19%Business Performance(e.g.,reven
27、ue,profit)Growth(e.g.,lead generation,conversions,sales)Business Innovation(e.g.,ideas generated,proofs of concept in pipeline,new products created)Employee Engagement and SatisfactionCustomer Metrics(e.g.,NPS,CSAT,CLTV)TotalExcellent:We have met or exceeded almost all of our digital transformation
28、goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expectDigital Literacy (e.g.,educated workforce,capabilities assessment)26%32%25%20%28%16%17%22%14%11%11%11%7%11%6%6%7%5%Active Custo
29、mer Engagement (e.g.,comments,“likes”,shares)Passive Customer Engagement (e.g.,downloads,clicks,time on site or app)Market Share/Share of WalletShareholder ReturnWe dont measure digital transformation metrics at this time7Digital Transformation Approach8Figure 3:At what stage is your digital transfo
30、rmation?TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expected Average:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expectedWe have been implementing our digi
31、tal transformation strategy for at least 4 yearsWe are 2-4 years into our executionWe are between 12-24 months into our executionWe are less than 12 months into our executionWe are still planning and have not yet startedCompanies with successful digital transformations started earlyThe majority of c
32、ompanies are still in the early stages of their digital transformation(12-24 months).However,for companies that reported excellent progress with digital transformation,the majority had been working on it for at least 4 years(30%).An overwhelming majority of average performers were less than 12 month
33、s into their digital transformation(42%).This highlights the fact that when it comes to digital transformation,success takes time,and companies should set their expectations accordingly.It also highlights the benefits of recognizing and adapting to disruptive trends early,rather than waiting for the
34、m to become mainstream and catching up.7%42%38%11%5%29%37%19%11%4%18%23%25%30%2%9Figure 4:Which approach best describes how your company implemented(or is currently implementing)its digital transformation program?Digital transformation is no longer implemented in a siloed approachThis is one area wh
35、ere the data was unequivocal nobody does digital transformation in a vacuum anymore.The vast majority(70%)of companies adopt a holistic approach to transformation,where several departments or functions coordinate their efforts to achieve a similar level of digital fluency and technology.This approac
36、h usually requires some central transformation authority such as a transformation management office or head of digital transformation,which may not be feasible for some companies for budget or capability reasons.For others,its more practical to limit transformation efforts to a single department or
37、function,prove results and then scale accordingly.For them,the incubated approach makes more sense(15%).6%8%9%9%5%15%70%63%61%15%24%16%ADHOC:There is no single,coordinated approach for transformation,with each department making its own plans and investmentsISOLATED:Transformation efforts are taking
38、place separately across many different departments or functions,without any coordination between themHOLISTIC:Transformation efforts are taking place across many different departments or functions at the same time,coordinated by a central digital transformation team or leaderINCUBATED:Transformation
39、 efforts are limited to one department or function at a time,with the intent to scale it to other departments sequentiallyTotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress o
40、n the others,and expect to meet most of them within the timeframe we expect10Updating IT,data management and operational agility are the top transformation prioritiesIts no surprise that most companies(50%)prioritized updating their IT systems as the first step in their digital transformation.Thats
41、usually where the most immediate need for upgrades appears,followed by digitally enhanced improvements to everyday operations and processes(34%).As we move down the list,we find data management(32%)as a top priority.Its interesting to note these“backend”tasks as being top priorities for transformati
42、on,compared to more customer-centric endeavors such as optimizing digital channels(27%)or using data to personalize messaging(28%).This highlights the way most companies tackle transformation,starting from complex data,IT and infrastructure upgrades before customer facing experiences.This makes sens
43、e if a company is merely transforming to keep up with the times.However,a customer-centric transformation would not only help companies have a faster impact on revenue,it would also make the backend work more efficient,since it would be in service of a customer-centric strategy,rather than a mere up
44、grade.Figure 5:Which of the following initiatives did you prioritize first for your digital transformation program?Modernizing IT infrastructure to increase agility,flexibility,manageability,and security50%46%58%34%29%27%32%32%34%31%34%29%28%25%36%28%28%26%Improving operational agility and updating
45、policies and processes to more rapidly adapt to changeProcuring,storing,and managing data from multiple digital sources and making insights/analytics accessible across the companyImproving employee experience(EX)including remote work options and better collaboration toolsTraining and/or hiring emplo
46、yees with digital skill sets to promote a digital-first cultureUsing data and analytics to personalize messages,experiences,and offers for customersTotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and
47、are making good progress on the others,and expect to meet most of them within the timeframe we expectOptimizing digital channels to provide a unified,customer-centric experience27%29%26%25%22%19%24%26%27%20%28%18%Changing or updating the existing business model or key value propositions to implement
48、 digital-first initiativesAccelerating product innovation through formal programs,both internal and externalInvesting in external partnerships or ecosystems for mutual benefit and innovation11Figure 6:Please indicate the most difficult challenges you or your organization came up against in digital t
49、ransformation efforts.COVID-19 created other budget priorities or cut the budgetBudget,digital transformation is viewed as a cost centerResistance to change(e.g.politics,egos,sabotage,fear)Rigid technology infrastructureLegal,risk management,and/or compliance concernsLack of staff resourcesLegacy bu
50、siness modelsTotalLow digital literacy or expertise among colleagues and leadershipInability to correctly prioritize technology applications/use casesInability to articulate the ROI of digital transformation initiativesLack of clean,labeled,accessible dataLack of clear vision or leadershipBudgets an
51、d resistant culture continue to be the biggest obstacles to transformationWhen it comes to measuring the impact of digital transformation,most companies look at improvements in operational efficiencies(39%)and business performance(37%).These metrics make sense for most companies,especially those tha
52、t have undertaken digital transformation specifically to improve their bottom line.However,theres a telling difference between average performers and more digitally mature companies.The latter tend to also measure business innovation and digital literacy as markers of success.Risk-averse leadershipI
53、ts a good reminder that a successful transformation is as much about looking forward,as well as improving the current state.Mature companies put a premium on new ideas,and invest in upgrading the skills of people,rather than just technology.20%10%Excellent:We have met or exceeded almost all of our d
54、igital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expect30%40%34%32%33%34%37%39%27%30%28%22%21%25%22%20%25%22%21%20%22%21%20%19%23%9%19%22%21%16%15%17%14%14%14%1
55、4%10%11%12%14%13%12Despite the challenging economic climate,mature companies are accelerating their transformation efforts When the COVID-19 pandemic hit in 2020,we saw a temporary pause on transformation efforts,only for most companies to continue and even accelerate their transformation programs.T
56、hat trend has continued into 2023 despite the challenging economic climate.While most companies are continuing their digital transformation efforts as planned(33%),the top performing companies are accelerating their transformation programs(43%).It highlights how mature companies see digital transfor
57、mation as a way to grow and gain an economic edge,beyond merely a technology upgrade.Key digital investments such as virtual workplaces,personalized digital marketing and selling,optimized e-commerce,and data management are no longer optional,theyre benchmarks for survival in trying economic times.F
58、igure 7:How have your digital transformation initiatives shifted because of COVID-19 or other economic factors this past year?TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expected Average:We have met a few goals and are making good pro
59、gress on the others,and expect to meet most of them within the timeframe we expectedWe are accelerating our digital transformation efforts to take advantage of opportunities in the marketplaceWe pivoted our digital transformation initiatives significantly to address short term business needsWe are c
60、ontinuing our digital transformation initiatives as planned but will revise the strategy within the next 6 monthsOur digital transformation initiatives are continuing as plannedWe have put our current digital transformation initiatives on hold because of pressing business disruptions of loss of budg
61、et7%31%35%18%8%8%33%24%13%23%12%24%12%10%43%13Organization and Culture14Figure 8:Which of these statements best describes how your organization is transforming employee collaboration and engagement?TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timef
62、rame we expected Average:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expectedEmployee engagement is one of our top strategic objectives and investment in digital platforms/programs results in our alignment around a shared
63、 purposeEmployees frequently connect and engage digitally across the organization and via multiple devices/channelsOur employees frequently use employee collaboration platforms to get work done but there is limited digital engagement beyond a product team or departmentWe have digital platforms and t
64、ools for employee collaboration,but they are not widely usedWe do little to engage employees digitally beyond annual surveys and static intranetDeep investment in employee experience and collaboration sets successful companies apartDuring the COVID-19 pandemic,it became apparent that investing the e
65、mployee experience was no longer optional.Companies quickly adopted virtual meetings and collaboration tools,and some of the more enterprising ones invested in employees mental well-being,transparency and a better culture.The difference between mature companies and average ones is apparent.High perf
66、ormers made employee engagement one of their top strategic objectives(53%),using digital programs to enhance collaboration and align everyone around a shared purpose.By contrast,average companies(41%)didnt invest in the employee experience beyond the standard tools of collaboration that were limited
67、 to departments or functions.18%41%28%9%12%27%30%28%5%17%22%53%4%3%3%15CEOs are more likely to lead successful transformations compared to other executives Traditionally,CIOs and CTOs have been tasked with leading digital transformations.This makes sense,given that the first order of business is usu
68、ally managing the upgrading of IT systems.While thats still the case for most companies(34%),its telling that for top performing companies,its the CEO whos likely to lead the transformation(33%).Were increasingly seeing that involvement of top leadership as a key factor in a successful digital trans
69、formation.CEOs are well positioned to solve the biggest transformational challenges,including budget,culture and strategic direction.Its interesting to see how only 2 percent of digital transformations are led by the CMO.In past years,this figure was much higher,representing the advanced digital pro
70、gress of the marketing function.However,its become apparent that today,digital transformation is a firmwide endeavor,one that cannot be limited to a single department of function,and its success depends on top down support,and widespread collaboration.Figure 9:Which executive officially owns or spon
71、sors the digital transformation initiative?34%32%36%23%33%21%19%16%16%9%5%10%8%7%7%CIO/CTOCEOCDO(Chief Digital Officer)Board of DirectorsChief Innovation Officer3%5%3%Digital transformation does not have an executive sponsorCMOCXO(Chief Experience Officer)1%2%1%TotalExcellent:We have met or exceeded
72、 almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expect2%16Figure 10:Which of these best describes the culture of your organization?Successf
73、ul digital transformers invest in a culture of agility and autonomyAnother key factor in digital transformation success is company culture.In this case,the research found that most successful transformers(47%)had a culture that promoted agility and autonomy.This means empowering individual teams or
74、functions to experiment,innovate and take decisions quickly without having to wait for central oversight.This culture is more likely to lead to innovative ideas and the freedom to improve operations as technology evolves.By contrast,average performers were still in the process of changing their cult
75、ure to become more agile,although the majority of them(48%)had acknowledged the need for change and were taking active steps to implement it.This shows that a competent digital culture isnt just a by-product of transformation,it is a key driving force,and companies that proactively change to become
76、more agile,adaptable and autonomous tend to have better results.Our culture works at the speed of our customers where many employees can make decisions and initiate trials with minimal oversightOur culture has adopted agile business practices that allow us to move faster and take more risksOur cultu
77、re understands the need for change and has taken the initial steps to be more responsive to changeOur culture understands the need for change but is bogged down by process and fear of taking risksOur culture is stuck in the status quo,and it is difficult for us to contemplate any kind of significant
78、 change22%47%6%27%20%19%33%17%48%13%8%21%4%8%6%TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expect
79、17Digital Capabilities18Figure 11:To what extent has your company mapped and used a digital customer journey to design or improve your customer experience?18%49%37%27%27%23%9%41%17%12%19%5%We are using AI to continually update and optimize the customer journey we have designed across all functions a
80、nd online/offline channelsWe have mapped a unified digital customer journey that spans across all functions and online/offline channels and are currently using it to optimize our customer experienceWe have mapped/or are currently mapping a unified digital customer journey that spans across all funct
81、ions and online/offline channels but have not currently implemented it in our customer experienceEach department or function(e.g.sales,marketing or service)has mapped its own digital customer journey on all the channels they useWe have not mapped a customer journey10%Digital customer journeys now sp
82、an different functions and are dynamically updated with dataThe majority of companies have mapped a digital customer journey that spans across many different(and previously disparate)functions,such as marketing,sales and service.This converged journey is the first step in the trend of companies incr
83、easingly operating with a unified(or at least highly collaborative)“go-to-market”function which covers all points of customer interactions.In this model,the unified team tracks the customers digital interactions from the point of awareness,all the way to purchase,and continues to engage them post-pu
84、rchase to ensure loyalty and even repurchase.With the unified journey,the team can capture customer data from different instances and use it to tailor relevant messages,experiences and even products.While most companies(41%)have mapped the journey,they have yet to start using it operationally.Advanc
85、ed companies(49%)however are not only implementing the full journey,they are also able to dynamically update it using data analyzed by AI.TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making
86、 good progress on the others,and expect to meet most of them within the timeframe we expect3%3%19Figure 12:Which of the following statements best describes the current state of your digital marketing operations?22%43%8%32%23%31%25%10%40%16%13%14%5%10%Digital marketing owns most of the customer exper
87、ience and runs mostly“always-on”,highly personalized multi-channel experiences across standard digital channels(web,email,social,mobile,ads)as well as newer channels such as voice,in-store or in-productDigital marketing runs highly coordinated periodic and always-on campaigns that respond in real-ti
88、me to customer interactions or personal data with personalized messaging/content across web,email,mobile and social mediaDigital marketing runs advertising and content campaigns,along with“always-on”customer engagements across the web,email and social media that are customized by customer behavioral
89、 and demographic dataDigital marketing mostly runs digital advertising campaigns(search,display,and social)and limited email campaigns to known customers,with limited customization of contentDigital marketing mostly runs digital advertising campaigns(search and display),with limited customization of
90、 ads according to customer demographics or location7%Digital marketing is increasingly personalized,real-time and used beyond traditional marketing functionsThe mark of an advanced digital marketing function is its ability to deliver highly personalized,relevant messaging to customers in real-time,a
91、cross a variety of digital channels and even products.This level of digital marketing owns the customer experience,and is the lynchpin of the emerging practice of a unified go-to-market digital function.For most advanced companies,this is the level of digital marketing they deploy(43%)which is a sub
92、stantial 10 percent improvement over the number last year.For average companies,digital marketing is still in the standard operating phase where it is limited to mostly brand or demand gen marketing across a few limited channels.It is worth noting that even at that level,using data to personalize an
93、d deliver relevant content and messaging is a standard practice.TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the ti
94、meframe we expect20 Figure 13:Which of the following statements best describes how your company creates value from digital customer data?The biggest difference between successful companies and average companies is in how they use dataUsing digital data to optimize and personalize messaging and conte
95、nt is now the standard way to do business.Most companies operate at this level(37%).However,successful transformers are far more advanced in how they use data.Not only can they use it to personalize messages and content,the majority(42%)are using AI to analyze the data,make the best recommendation a
96、nd optimize the results in a continuous feedback loop.Perhaps no other stat illustrates the gulf between successful transformers and average ones.Leveraging data in a repeatable,scalable way is an enormous advantage for any customer-related function,and prioritizing it is a recurring theme throughou
97、t the results of this study.Digital data is analyzed by AI to generate predictive analytics that can be used to design real-time customer experiencesDigital data is used to create digital experiences that personalize messaging/content for the customer in real-timeDigital data is used to optimize mes
98、saging and content in a periodic way,and to measure performanceWe use digital data to track engagement and reach metrics across all our digital channelsWe use minimal digital customer data,mostly to track website/mobile app traffic21%42%12%20%21%15%24%12%37%29%16%31%6%9%6%TotalExcellent:We have met
99、or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expect21Sales,marketing and service are increasingly sharing customer success an
100、d revenue goalsAnother marker of the unified go-to-market function between sales,service and market is the creation of shared goals between these departments.This gives them an incentive to collaborate,operate off the same customer journey map,and use a single source of data to power their interacti
101、ons.Over half(51%)of advanced companies have set shared revenue and customer satisfaction goals for their go-to-market teams,also adding cross-sell and upsell targets to make sure these teams remain engaged beyond the point of purchase.Average performers are catching up(32%),with the majority also s
102、haring a few limited goals between sales,service and marketing.Shared goals are thus the new norm,and a great first step for companies looking to create a unified go-to-market function,or even just an improved customer experience.Figure 14:How do you currently measure success across marketing,sales
103、and service teams?28%51%15%30%17%32%20%10%29%8%6%14%14%16%Sales,Marketing and Service equally share revenue,customer satisfaction and upsell/cross sell targets as part of compensationSales,Marketing and Service share customer satisfaction and revenue targetsRevenue targets are shared across Sales,Ma
104、rketing and ServiceBeyond leads,revenue is one of Marketings key metricsMarketing,Sales and Service each have their own separate success metrics18%TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and a
105、re making good progress on the others,and expect to meet most of them within the timeframe we expect22Mature companies combine use both analog and digital metrics to measure customer experienceTop performers were again far ahead of average ones when it came to how they measure customer experience.Th
106、ese digitally mature companies used a combination of digital metrics that measure customer experience in real-time,along with old school methods such surveys and ratings(63%).While average companies also used digital and analog sources to track customer experience(41%)the key difference is in how.Ad
107、vanced companies are far more likely to use CX metrics in a continuous,dynamic way,where customer interactions can be recorded and optimized in real-time.By contrast average companies look at CX metrics in a periodic,static way,much like they would survey data or external evaluations.Figure 15:How d
108、o you currently measure success for your companys customer experience?In addition to surveys and external metrics,we track digital metrics such as interaction speed,content relevance and high engagement across our digital channels to measure and improve customer experienceIn addition to satisfaction
109、 surveys,we track digital metrics such as NPS,brand sentiment and external rankingsWe regularly survey customers on their satisfaction with our products,purchasing process and customer serviceWe currently do not have a success metrics fro customer experience35%63%15%33%13%41%28%19%36%5%7%TotalExcell
110、ent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expect4%23Future Investments24 Figure 16:Which of the following
111、best describes your enterprises current relationship with Web3 technologies (e.g.,the Metaverse,Blockchain,cryptocurrencies,NFTs)as part of your overall transformation?For most companies,Web 3.0 is still in the exploratory phaseLast year started with a lot of bullish optimism on Web 3.0 technologies
112、 such as blockchain,cryptocurrencies and the Metaverse.That enthusiasm has dampened recently due to multiple crypto crashes,Metas tanking stock price and the market cooling on NFTs.That doesnt necessarily mean its time to write off Web 3.0.The majority of companies are adopting a wait-and-see approa
113、ch,with 28 percent exploring the technologies,even if they lack a plan to use them.However,advanced companies are much more likely to already have adopted at least one Web 3.0 technology(52%)which indicates that we might be seeing a market reset that helps these technologies shed their fluctuating v
114、aluations and start delivering mainstream business impact.We are actively adopting these technologies as a part of our transformationWe are exploring these technologies and developing pilots as part of driving our continued transformationWe have started exploring these technologies but havent yet de
115、termined how they could support and strengthen our transformationWe are not actively exploring these technologies but see the possibility in driving future transformationWe are not actively exploring these technologies and dont view them as part of our transformation21%52%4%25%22%18%28%15%33%16%6%20
116、%12%6%24%TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expect25People and processes are a higher in
117、vestment priority than ever beforeWhile modernizing IT continues to remain a top priority for the third year in a row,training and hiring employees to promote a digital first culture is number two on the list,the highest its ever been(32%).This indicates a shift in transformational priorities where
118、executives have realized that its less about the tools,and more about the people that use them.Hence,were seeing increasing investment in training employees on new technology,optimizing existing processes and improving the employee experience.Its clear that the time for procuring new technology is l
119、imited,and transformation leaders are focused on getting the most value of the assets they have,rather than expecting results from new ones.Figure 17:Which of the below initiatives will be the top priorities for your next phase of digital transformation?Modernizing IT infrastructure to increase agil
120、ity,flexibility,manageability,and security41%34%47%32%26%42%29%33%18%28%23%33%28%32%23%27%28%25%Training and/or hiring employees with digital skill sets to promote a digital-first cultureUsing artificial intelligence/machine learning technologies for predictive analytics,marketing automation and pro
121、duct innovationProcuring,storing,and managing data from multiple digital sources and making insights/analytics accessible across the companyImproving operational agility and updating policies and processes to more rapidly adapt to changeImproving the employee experience(EX)including remote work opti
122、ons and better collaboration toolsTotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good progress on the others,and expect to meet most of them within the timeframe we expectChanging or u
123、pdating the existing business model or key value propositions to implement digital-first initiatives27%24%25%26%24%27%23%21%28%23%29%22%Optimizing digital channels to provide a unified,customer-centric experienceUsing data and analytics to personalize messages,experiences and offers for customersAcc
124、elerating product innovation through formal programs,both internal and external17%26%11%Investing in external partnerships or ecosystems for mutual benefit and innovation26Figure 18:What are your top priorities for technology investments in 2021-2022?You may select up to five.CybersecurityCloudReal-
125、time analytics and reportingData scienceInternet of Things(IoT)Machine Learning(ML)/Artificial Intelligence(AI)5GeCommerce platformsSocial mediaMobile solutionsConversational technologies(e.g.Digital assistants,chatbots)Cross-functional collaboration platforms Augmented Reality(AR)/Virtual Reality(V
126、R)BlockchainDevOpsEdge computing3D printing/additive manufacturingAutonomous vehicles/roboticsQuantum computingWearablesDronesCybersecurity,cloud and analytics continue to be the top tech investmentsFor the third year in a row,cybersecurity is the top tech priority for businesses.This makes sense as
127、 companies continue to invest in accessing,storing and leveraging exponentially large amounts of customer data,and getting hacked is a major threat to brand security and trust.Cloud applications also continue to be a top investment,mirroring the sustained focus on IT upgrades and modernization.Advan
128、ced companies are investing more in IoT than they ever have,and one of the reasons being the increased visibility a connected device provides into the customers post-purchase journey.As companies look to get more from existing customers,post-purchase marketing and selling will be a key practice,and
129、advanced companies will be looking to create platforms from which they can fully engage customers at every part of the buying cycle.TotalExcellent:We have met or exceeded almost all of our digital transformation goals within the timeframe we expectAverage:We have met a few goals and are making good
130、progress on the others,and expect to meet most of them within the timeframe we expect(e.g.Geo-fencing,beacons or other embedded sensors)10%20%30%40%50%27Key Takeaways28Based on our findings,we can recommend that companies should invest in the following areas,regardless of their levels of maturity in
131、 order to thrive in the next phase of digital transformation.Getting value out of dataAcross the board,companies of all maturity levels are investing heavily in data,an asset that is widely recognized as being under utilized.In challenging economic times,the companies that can efficiently extract in
132、sights from customer data to design better products,experiences and messaging will gain an edge over a competitor.This focus is especially relevant at a time with marketing budgets are being slashed and companies must come to terms with doing less with more.This means fewer mass marketing campaigns,
133、more one-to-one personalized outreach.Investing in data is a multi-step process,and while some steps can be de-prioritized a few areas are crucial.Assigning enterprise data leadership is one,followed by identifying the most valuable data use cases across the board.The right data platforms are of cou
134、rse essential.However,weve found most companies already have the key components they need and are more interested in figuring out how to integrate them and obtain continuous insights.Finally,data governance,compliance and security are non-negotiable areas of investment that protect both the company
135、and the customer.Operational efficiencySticking with the theme of doing more with less,most businesses are recognizing that they can be a lot faster and efficient by getting the most out of their existing tools.Practically,this means a few key initiatives.The first step is in learning how to share c
136、ontent,messaging and data across multiple customer facing teams.This can be done by utilizing digital asset management systems,customer data platforms and campaign collaboration tools,which are likely to already have been installed.The second big investment is in culture.By hiring digitally savvy em
137、ployees,companies have a greater chance of scaling digital literacy among the existing workforce than costly digital training programs.These employees must also be empowered with greater autonomy to make decisions about optimizing the customer experience,testing new ideas and experimenting with inno
138、vation.By decentralizing a lot of the decision-making process,companies can respond to customers quicker,and innovate at a faster rate.2929Investing in the employee experienceThe employee experience goes beyond simply providing Zoom and Slack as tools for effective collaboration.The most digitally a
139、dvanced companies are paying close attention to what the future of work might look like post COVID.Aside from facilitating remote work,it means meeting the expectations of employees who demand diversity,transparency,a clear vision,and an appreciation for life outside work.The economic climate might
140、be challenging,but the companies with the most capable,satisfied and motivated workforces will be the ones that persevere.Engaging at the post-purchase stageIn addition to marketing,sales and service coordinating on customer engagement throughout the funnel,well see the proliferation of digital plat
141、forms,where businesses create spaces for the continuous digital dialog between customer and company.Weve already seen cloud software companies start to engage customer directly through the product after purchase to renew subscriptions or upsell to new features.Other industries will soon catch on as
142、it becomes harder to spend money on converting new customers and marketing teams will look to get more out of existing ones.However,post purchase engagement doesnt need to start with a platform.Traditional engagement channels such as email and mobile apps are good places to begin post-purchase commu
143、nication,or at least gather data that sheds light on how the customer uses the product,and identify opportunities to engage.30We surveyed 602 professionals from brands,consulting firms,and other organizations with at least 1,000 employees,across three geographies:The United States,Europe(U.K.,France
144、,and Germany),The Peoples Republic of China,Singapore,Vietnam and Malaysia The respondents from these organizations included in-house and agency digital strategists and C-suite or other executive-stage leaders.Our sample includes a fixed quota of respondents from five industry verticals:Banking/Fina
145、nce,Manufacturing,Healthcare,Retail,and Technology.We asked each respondent multiple choice answer questions about digital transformation at their respective organizations or organizations they serve.MethodologyMany thanks to my colleagues at Prophet,Ted Moser,Chan Suh,David Novak,and Kristen Groh f
146、or their guidance and vision in shaping this survey and generating actionable insights from its results.AcknowledgmentsThe Creative Commons License is Attribution-Noncommercial ShareAlike 3.0 United States,which can be found at https:/creativecommons.org/licenses/by-nc-sa/3.0/us/.PermissionsALTHOUGH
147、 THE INFORMATION AND DATA USED IN THIS REPORT HAVE BEEN PRODUCED AND PROCESSED FROM SOURCES BELIEVED TO BE RELIABLE,NO WARRANTY EXPRESSED OR IMPLIED IS MADE REGARDING THE COMPLETENESS,ACCURACY,ADEQUACY,OR USE OF THE INFORMATION.THE AUTHORS AND CONTRIBUTORS OF THE INFORMATION AND DATA SHALL HAVE NO L
148、IABILITY FOR ERRORS OR OMISSIONS CONTAINED HEREIN OR FOR INTERPRETATIONS THEREOF.REFERENCE HEREIN TO ANY SPECIFIC PRODUCT OR VENDOR BY TRADE NAME,TRADEMARK,OR OTHERWISE DOES NOT CONSTITUTE OR IMPLY ITS ENDORSEMENT,RECOMMENDATION,OR FAVORING BY THE AUTHORS OR CONTRIBUTORS AND SHALL NOT BE USED FOR AD
149、VERTISING OR PRODUCT ENDORSEMENT PURPOSES.THE OPINIONS EXPRESSED HEREIN ARE SUBJECT TO CHANGE WITHOUT NOTICE Disclaimer31About the AuthorAbout Altimeter,a Prophet companyAltimeter is a research and consulting firm owned by Prophet that helps companies understand and act on technology disruption.We g
150、ive business leaders the insight and confidence to help their companies thrive in the face of disruption.In addition to publishing research,Altimeter analysts speak and provide strategy consulting on trends in leadership,digital transformation,social business,data disruption,and content marketing st
151、rategy.Learn more at AkhtarResearch D an analyst and the research director for Altimeter,Omar publishes research that helps companies thrive on digital disruption.His areas of focus include digital transformation,digital marketing excellence,content and data strategy.These research reports include i
152、ndustry benchmarks,maturity models,guides for developing strategies,and frameworks for evaluating people,processes and tools.As a consultant,Omar has advised leading brands on how to choose marketing technology,build digital systems for marketing,and create digital content strategies.He has also wor
153、ked with MarTech companies on product evaluation and competitive analysis.Omar holds a masters degree in journalism from Columbia University and was formerly the editor-in-chief of the digital marketing blog The Hub Comms.He was also a writer for Direct Marketing News,PRWeek,Fortune and The Brooklyn
154、 Ink.32How to Work With UsAltimeter research is applied and brought to life in our client engagements.We help organizations understand and take advantage of digital disruption.There are several ways Altimeter can help you with your business initiatives:Strategy ConsultingAltimeter creates strategies
155、 and plans to help companies act on business and technology trends,including ethical and strategic data use and communications.Our team of analysts and consultants work with global organizations on needs assessments,strategy roadmaps,and pragmatic recommendations to address a range of strategic chal
156、lenges and opportunities.Education and WorkshopsEngage an Altimeter speaker to help make the business case to executives or arm practitioners with new knowledge and skills.AdvisoryRetain Altimeter for ongoing research-based advisory:Conduct an ad-hoc session to address an immediate challenge or gain deeper access to research and strategy counsel.To learn more about Altimeters offerings,contact .33