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1、The champion approach to next-level digital experiencesShed the schedule,obsess over valueIBM Institute for Business Value|Research BriefSpecial editionThe champion approach to next-level digital experiences1From good to greatMany companies are becoming software companies,creating new digital produc
2、ts to serve their customers and partners better.1 The repercussions are enormous:researchers expect that 40%of total revenue for the largest 2,000 organizations globally will be generated by digital products,services,and experiences by 2026.2 From manufacturing furniture to filling prescriptions,50%
3、of companies and 70%of top performersnow use software applications they developed internally to differentiate themselves from their competition.3The payoff can be enormous as well.In a recent global IBM IBV study,organizations reported an astonishing ROI of 46%and 75%on new and existing digital prod
4、uct enhancements,respectively(see Figure 1).4FIGURE 1Digital products and enhancements are substantial drivers of revenue and ROI.5of total revenue for largest 2,000 organizations globally will be generated by digital products,services,and experiences by 2026.40%46%enhancements and.on new product 75
5、%product enhancements.on existingOrganizations reported an astonishing ROI of Note:Data reported is from 2023.The champion approach to next-level digital experiences2FIGURE 2Value Champions versus Project Planners:Both groups perform highly,but only one is positioned for lasting successNote:Data is
6、self-reported by respondents.Value ChampionsProject Planners18%fasterWeeks to target ROI14%more223%more44%moreROI growth in 3 yearsOutperform in customer satisfactionOutperform in cost savings33%29%84%26%79%55%3239Given the growing importance of digital products,we surveyed 300 US organizations to u
7、nderstand their approaches to digital product development.Among the highest performers,we noticed there was a clear difference in what separated the good results from the great results.Two groups emerged:those that define a product mindset only as a series of tasks or a work structure,and those that
8、 adopt a true product mindset,creating a holistic experience for the customer throughout the full life cycle of the product.Weve identified the first group as Project Planners and the second as Value Champions.Surprisingly,both enjoy positive business resultsin the short term.But Value Champions are
9、 notably better positioned for long-term success(see Figure 2).The champion approach to next-level digital experiences3Project Planners fall firmly in the“series of tasks”camp.They march to a project mindset that focuses on deliverables,schedules,activities,and a completion datebut this emphasis can
10、 distract from determining the actual value delivered.Despite their myopic perspective,Project Planners still perform quite well in revenue growth and profitability.However,these results are likely to be short-lived because they notably underperform in customer satisfaction and innovation,which does
11、 not bode well for the future.On the other hand,Value Champions embrace a powerful product mindset,finding ways to systemize the intake of customer,business,and product needs to help ensure value is at the heart of each release(see Figure 3).Successfully balancing customer value with business value
12、and product value,Value Champions achieve their target ROI up to seven weeks faster(18%faster)than Project Planners.And nearly eight in ten(79%)report outperforming their competition in cost savings.FIGURE3Value obsession:At the heart of championsCustomer valueBusiness valueProduct valueMethodically
13、 assess and deliver value at scale Use a standard,systematic process for assessing the value of features before prioritizing them.Embrace feedback,with the philosophy that continuous customer feedback de-risks product strategy.Thrive on continuous feedbackLead with customer needsConduct user researc
14、h before each release.Validate success and measure outcomesInvest as much energy intopost-launch learning as intobuilding the product.The champion approach to next-level digital experiences4Value Champions also exemplify how a purpose-driven culture fosters strong unity throughout the enterprise,wit
15、h a focused vision and cohesiveness that create higher employee morale and satisfaction across IT and business teams.This philosophy is widespread in successful organizations:research shows that CEOs of outperforming organizations identify a sense of purpose as mission-critical for employee engageme
16、nt at a rate 53%higher than underperformers.6Why adopt a Value Champion approach?If values such as customer and employee satisfaction havent convinced you,consider this.Our research shows a customer advocacy strategy doesnt just benefit customersits good business as well.84%of Value Champions report
17、 outperforming competitors in customer satisfaction,compared to only 26%of Project Planners.And 89%of Value Champions reported their product increased their customer retention in 2022.Customer needs continuously change and so do business needs.Champions are ready.They systematically assess the value
18、 of what theyll work on next enabling quick shifts that both align with market changes and make sense for the organization.For the most part,Project Planners havent developed these systematic approaches.Although they achieve their monetary targets today,without prioritizing continuous innovation,cus
19、tomer feedback,and overall value,they risk losing momentum going forward.The inevitable customer and business pivots that Champions manage gracefully can derail their Project Planner counterparts.How can your organization become a Value Champion?Our research reveals three distinct strategies that di
20、fferentiate them from their Project Planner peers strategies that virtually any organization could emulate.So,lets get started.FIGURE 4Outcomes are what counts74%of Value Champions measure success in terms of business and customer outcomes,rather thandevelopment effort 55%of Project Plannersversus o
21、nlyThe champion approach to next-level digital experiences51.Use continuous,value-based iterations to boost business results that mattertoday and in the futureFrequent releases may achieve milestones for a corporate objective,agile sprint,or team performance plan.But what are they accomplishing?Proj
22、ect Planners tend to minimize this critical detail.This group releases products iteratively,yet their releases are deploying features based on predetermined schedules rather than strategic launches based on value and associated feedback.They are missing something essentiala protocol for determining
23、customer,business,and product value before establishing priorities(see Perspective“Balancing act”).In fact,more than half of this group(53%)lack a system for assessing the value of features at all before prioritizing them.The problem lies,in part,with the classic success criteria used in project man
24、agement:on-schedule,on-budget,and on-quality delivery.But whats missing?Value:a dedication to value-based outcomes over a products lifespan.7 An on-time,on-budget,high-quality project that doesnt meet customer and business needsor evolve with themactually adds no value at all.While adhering to a sch
25、edule is well and good,not all releases are created equal.Value Champions opt for organizationally aligned,customer-centric launches over simply deploying new code.They release strategically with customer,business,and product value top of mind,rather than speed,cost,or feasibility alone.These launch
26、es are primarily enabled by Value Champions systemized ability to absorb customer and organizational feedback,assess value,and prioritize accordingly.Our research also uncovered a paradox.Given their strict adherence to schedules,you would think Project Planners move faster than value-obsessed Champ
27、ions.In reality,its the other way around.Champions release new features every 12 weeksthree weeks(18%)faster than Project Planners.More impressively,Value Champions also achieve financial metrics that are well-positioned for growth going forward.Our research shows a skyrocketing average ROI increase
28、 for their digital product of 33%in just three years,and projected ROI of 76%growth from 20202025.The champion approach to next-level digital experiences6Customer value Will an initiative,product,or feature address an unmet need or pain point?Customer value is the measurable impact achieved by the c
29、ustomer when a product is used.To determine customer value,teams use research to identify customer pain points and uncover opportunities to solve them.Product value Will the benefits of an initiative or feature improve product engagement and outweigh the resources expended?Product value is finding t
30、he balance between the“stickiness”of a product(high user engagement)and justifying the resources required to achieve that result.To determine this,teams study previous successes and apply continuous learning to product enhancements.PerspectiveBalancing act:Tracking value in three ways8 Is your organ
31、ization measuring all three types of value?6Business value Will an initiative,product,or feature drive measurable business value?Business value creates alignment between product outcomes and key performance indicators(KPIs).To determine business value,define KPIs with leadership and continuously mea
32、sure product outcomes.The champion approach to next-level digital experiences72.Operationalize a system that evolves with customer and business needs The trifecta of customer,business,and product value measurement is powerful.But how do Value Champions keep up with continuously shifting needs?Why do
33、 Project Planners lag behind?For starters,Value Champions have a deep understanding of their customer and have an ability to evolve with change.What do customers actually want and need today?In a month?In a year?While Value Champions invest deeply in continuous customer learning,Project Planners cou
34、ld well respond with a blank staremonitoring,analyzing,and keeping pace with customer needs is their Achilles heel.They can only guess at what customers need today and certainly arent anticipating what theyll need tomorrow.Surprisingly,four in ten(41%)of Project Planners lack a standardized method f
35、or collecting post-launch customer feedback.They do go through the motions of conducting user research,but it can be,to an extent,performative.Only 51%of Project Planners view their digital product as a lifelong,continuously evolving initiative,compared to 89%of Value Champions(see Figure 5).In othe
36、r words,theyre viewing their product as a projectan ill-advised strategy in the continuously changing world we live in.FIGURE 5Value Champions make the commitmentview their digital product as a lifelong,continuously evolving initiative.75%Value Champions aremore likely toThe champion approach to nex
37、t-level digital experiences8As well,Value Champions systemize their prioritization of features.Customer value is a large part of that formulabut how does it balance against business value and actual product improvements?And how can it be monitored?Measuring value at enterprise scale requires methodi
38、cally tracing value from inception to outcomenurturing high-value opportunities and leaving behind lower-value,resource-guzzling efforts.Value Champions have mastered operationalizingin a sense,orchestratingvalue.Value orchestration is all about responsiveness and fluidity.By concentrating on these
39、four logical steps,organizations can be both reactive and effective.They can recognize and evaluate market opportunitiesand improvise quickly and iteratively to develop solutions that deliver real value.And generative AI can further streamline the responsiveness that comes with value orchestration.T
40、his technology can be trained to highlight feedback and ideas most aligned with business strategies,and to minimize or eliminate whats not relevant(see Perspective:“Generative AI”on page 9).In fact,62%of global executives say that generative AI is the top trend they expect to disrupt the way their o
41、rganizations design experiences going forward.10 Align on strategic outcomesIdentify gaps in current initiatives ability to deliver meaningful value and accelerate outcomesIdentify and breakdown valueAssess all decisions based on data,drawing connections between business goals,user needs,and expecte
42、d valuePrioritize by mapping value to effortShift the focus from a large program of work or multi-year delivery schedules to smaller,reasonable,and measurable effortsMeasure and report incremental valueTrace value throughout the lifecycle to dynamically meet user demand while also managing business
43、expectations81234As a starting point,consider four steps to delivering value at scale:9The champion approach to next-level digital experiences9According to IBM IBV research,85%of execs say generative AI will interact directly with customers in the next two years.But the real value comes as the techn
44、ology grows more sophisticated.Thats when agents can forge the emotional connections with customers that yield fresh new insights and opportunities.Its about taking risksand conquering themwith the help of this ever-advancing technology.In effect,generative AI is a research tool to collect and analy
45、ze sentiment-based metrics for each customer service interactionrapidly analyzing and prioritizing large volumes of feedback.And generative AI is not just for facilitating and analyzing interactions and engagementit can also drive innovation.Organizations can use it to mine new opportunities with cu
46、stomers and monitor customer service success to see how applications influence sales and customer loyalty.In short,generative AI can help organizations listen,test,and action responsibly.PerspectiveGenerative AI Hunter,gatherer,interpreter of customer feedback119of executives say generative AI will
47、interact directly with customers in the next two years.85%The champion approach to next-level digital experiences103.Align IT and business organizations behind an unshakable commitment to outcomes over outputs.For Value Champions,experimentation,creativity,and“failing toward victory”advance a singul
48、ar mission:a commitment to driving experiences,outcomes,and value for their customersand their business.This commitment creates unity,a purpose-driven enterprise that sees nearly 67%greater organizational alignment and 79%more employee satisfaction than Project Planners(see Figure 6).Value-driven co
49、mmitment can make IT and the business organization fast friends and devoted allies.In fact,Champions are 130%more likely to enjoy tighter collaboration among product management,IT,and business stakeholders than Project Planners.more employee satisfaction79%67%greater organizationalignmentFIGURE 6A u
50、nified,purpose-driven enterpriseValue ChampionsThe champion approach to next-level digital experiences11Both IT and business organizations thrive on creativity and innovationbut these characteristics evaporate in a barren,fearful desert devoid of free thinking.In fact,IBM IBV research shows that a c
51、ulture of not penalizing failure in the context of technology adoption and digital transformation delivers a 10%revenue growth bump.12 To that point,Value Champions are 53%more likely to support a culture of experimentation,failure,and learning than Project Planners.Champions dont just advocate for
52、their customers,theyre supporting their employees,too.Value Champions build organizations that,by their nature,have a different DNA than those of Project Planners.Their cultures are both creative and logical:two-thirds(66%)of Value Champions are committed to exploring customer problems before devisi
53、ng solutions.Makes sense,right?Yet a mere 26%of Project Planners share this dedicationno surprise given their weakness at systemizing the intake of customer needs(see Figure 7).And another Champion advantage:more than half(55%)have established a top priority of improving existing products and servic
54、es over the next two years.Value Champions see their products through the lens of the long haul,viewing them as ongoing processes.Champions dont automatically jump on the next shiny trendunless it drives value for the customer and the business.FIGURE 7Digging deeper66%of Value Champions are committe
55、d to exploring customer problems26%of Project Planners share this dedicationOnlyChampions dont just advocate for their customers,theyre supporting their employees,too.2.5x moreThe champion approach to next-level digital experiences12Historically,this global auto manufacturer had a 100%centralized IT
56、 organization,which acted as a shared service across business domains to control costs in this historically low margin industry.However,the automotive industry has started to rapidly diversify,driven by new digital-first entrants.As a result,this original equipment manufacturer(OEM)needed to make fu
57、ndamental changes to capture their share of new,higher-margin revenue streams.Case studyGlobal auto manufacturer13Aligning IT infrastructure to business needsThe automaker decided to develop digital products that it could sell directly to consumers,such as navigation,emergency road services,autonomo
58、us driving,and entertainment packages.But it quickly encountered a roadblock:the existing centralized IT structure was slow,methodical,cost-contained,and overall unsuitable for agile software product development.To address this issue,the automaker restructured its IT organization by spinning off a d
59、edicated business unit focused on digital products.The new structure was aligned by product lines,with each having four functions:business,product,tech,and experience.However,there were challenges in the transformation process.The automaker quickly realized that many of its foundational capabilities
60、 needed to build and deliver customer-facing products were insufficient,fragmented,or just out of date.To address these foundational issues,the automaker engaged IBM to help transform its core business-to-consumer capabilities.The program had a host of objectives,including more stable customer exper
61、iences,more reliable customer interactions,faster release time lines,and more frictionless transactions,among others.At the end of the day,the organization will rely on these new capabilities to position it to grow its direct-to-consumer business by more than 20 times over the next five years.12More
62、 challenges lie ahead.But by restructuring and dedicating resources based on targeted digital business needs,the company has made significant strides toward achieving its goals in the rapidly evolving automotive industry.The champion approach to next-level digital experiences13Creating lasting succe
63、ssThe differences between Project Planners and Value Champions are nuanced,but they are no less critical.Our research shows key evidence that Project Planners can see fleeting success,while Value Champions can operationalize long-term success at the enterprise level(see Figure 8).Planners can do wel
64、l,for the moment,operating with an“output-focused”mindset.They might even understand the need for a broader,customer-centric perspective.But without the trifecta of customer,business,and product value driving their priorities,and a systematic way to operationalize outcomes over outputs,Project Plann
65、ers risk losing momentum or even grinding to a halt the moment the market evolves yet again.Value Champions evolve at scale,outperforming their Project Planner counterparts with more frequent releases that align with customer,business,and product needs.Champions know that delivering a product isnt a
66、 one and done,its an ongoing relay that requires organizations to move with intention,sprinting in bursts to one finish line and strategically determining the next destination.Value Champions are certain of this:if you think the finish line is the end,youre finished.FIGURE 8The foundations of long-t
67、erm success130%more likely to enjoy tighter collaboration between product management,IT,and business stakeholders89%report their products increasing their customer retention18%faster speed to release than Project Planners33%ROI increase from their digital products in just three years76%projected ROI
68、 growth from 20202025Value ChampionsNote:Data is self-reported by respondents.The champion approach to next-level digital experiences14Dixie AdamsManaging PartnerDigital Product Engineering,IBM C has a passion for understanding the intersection of business and technology.She has more than 25 years o
69、f experience in IT strategy,systems and technology deployment,and digital transformation.Dixie works closely with clients to create technology strategies that align to their business objectives and key imperatives.Scott HarperFounder/CEO,D believes in building a better world through technology innov
70、ation.He specializes in strategy,ideation,design,user experience,architecture,development,and building amazing teams.Scott brings a strong product discipline,proven track record for client delivery,and a mindset of innovation and collaboration to drive digital transformation for enterprises across a
71、ll industry sectors.About the authors Nisha KohliGlobal Research Lead,IBM Institute for Business V is an experienced consultant and thought leader in digital product design and engineering.She has over eight years of experience in Experience Strategy and has led complex end-to-end user experience tr
72、ansformations for clients across multiple industries including consumer goods,travel and transportation,and pharmaceutical retail.She is most well known for being a trusted advisor and helping organizations transform their business by designing and delivering meaningful,digital experiences for their
73、 entire ecosystemencompassing customers,employees,and business partners.The champion approach to next-level digital experiences15Notes and sources 1 Gnanasambandam,Chandra,Janaki Palaniappan,and Jeremy Schneider.“Every company is a software company:Six must dos to succeed.”McKinsey Quarterly.Decembe
74、r 13,2022.https:/ 2 Carosella,Giulia et al.IDC FutureScape:Worldwide Digital Business Strategies 2023 Predictions.IDC.October 2022.https:/ as cited in“Qualtrics Announces General Availability of Customer Journey Optimizer,Helping Companies Identify and Eliminate Points of Friction for Customers.”Bus
75、inesswire.June 1,2023.https:/ Gnanasambandam,Chandra,Janaki Palaniappan,and Jeremy Schneider.“Every company is a software company:Six must dos to succeed.”McKinsey Quarterly.December 13,2022.https:/ IBM Institute for Business Value unpublished research.5 Carosella,Giulia et al.IDC FutureScape:Worldw
76、ide Digital Business Strategies 2023 Predictions.IDC.October 2022.https:/ as cited in“Qualtrics Announces General Availability of Customer Journey Optimizer,Helping Companies Identify and Eliminate Points of Friction for Customers.”Businesswire.June 1,2023.https:/ Institute for Business Value unpubl
77、ished research.IBM Institute for Business ValueThe IBM Institute for Business Value(IBV)delivers trusted,technology-based business insights by combining expertise from industry thinkers,leading academics,and subject-matter experts with global research and performance data.The IBV thought leadership
78、portfolio includes research deep dives,benchmarking and performance comparisons,and data visualizations that support business decision making across regions,industries and technologies.For more informationTo stay connected and informed,sign up to receive IBVs email newsletter at can also find us on
79、LinkedIn at https:/ibm.co/ibv-linkedin.The champion approach to next-level digital experiences16 Copyright IBM Corporation 2024IBM Corporation New Orchard Road Armonk,NY 10504Produced in the United States of America|March 2024IBM,the IBM logo, and Watson are trademarks of International Business Mach
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82、TION OF NON-INFRINGEMENT.IBM products are warranted according to the terms and conditions of the agreements under which they are provided.This report is intended for general guidance only.It is not intended to be a substitute for detailed research or the exercise of professional judgment.IBM shall n
83、ot be responsible for any loss whatsoever sustained by any organization or person who relies on this publication.The data used in this report may be derived from third-party sources and IBM does not independently verify,validate or audit such data.The results from the use of such data are provided o
84、n an“as is”basis and IBM makes no representations or warranties,express or implied.X8MERBEW-USEN-026 Find your essential:How to thrive in a post-pandemic reality.Global C-suite Series.The 2021 CEO Study.IBM Institute for Business Value.February 2021.https:/ 7 Kelly,Allan.Project Myopia:Why Projects
85、Damage Software.Leanpub:September 19,2018.8 Based on internal IBM information.9 Based on internal IBM information.10 The CEOs guide to generative AI:Customer service.From cost center to value creator.IBM Institute for Business Value.2023.Published and unpublished material.https:/ 11 The CEOs guide t
86、o generative AI:Customer service.From cost center to value creator.IBM Institute for Business Value.2023.Published and unpublished material.https:/ 12 Payraudeau,Jean-Stphane,Anthony Marshall,and Jacob Dencik.Extending Digital Acceleration:Unleashing the business value of technology investments.IBM Institute for Business Value.October 2021.https:/ibm.co/extending-digital-acceleration as cited in Seven Bets.IBM Institute for Business Value.May 2023.https:/ibm.co/seven-bets13 Based on internal IBM client information.