This week, I released a new report with my client and colleague Brian Solis, principal analyst of Altimeter Group (a Prophet company) that delves into how digital leaders and strategists are tackling digital transformation within their organizations. It features data analysis from more than 500 survey respondents (because we all love a great chart)!
Here are a few highlights – aka TL;DR:
- Customer Experience (CX) remains the top driver of digital transformation but IT and marketing still influence technology investments.
- 55% of those responsible for digital transformation cite “evolving customer behaviors and preferences” as the primary catalyst for change. Yet, the number one challenge facing executives (71%) is understanding behavior or impact of the new customer.
- Only half (54%) of survey respondents have completely mapped out the customer journey. This means that many companies are changing without true customer-centricity.
- 41% of leaders surveyed said they’ve witnessed an increase in market share due to digital transformation efforts, and 37% cite a positive impact on employee morale.
- The CMO vs. CIO: Digital transformation is largely led by the CMO (34%) not the CIO/CTO (19%).
- Innovation tops digital transformation initiatives at companies today. 81% said it was at the top of their agenda, 46% stated their company has launched a formal “innovation center.” Right behind innovation was modernizing IT infrastructure (80%) and improving operational agility (79%).
Next up? We’re working on a report that uncovers how the change agents — movers and shakers like YOU within companies — are inciting digital transformation. Stay tuned; that should drop in Q4.