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[Infographic] The 2014 State of Digital Transformation

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Digital transformation is a formal investment in new technology, business models, and supporting systems and processes to change the way companies sell, market, operate and scale in an increasingly digital economy. This infographic communicates the state of digital transformation in 2014.

More data and research in the full report: The 2014 State of Digital Transformation by Brian Solis, available for download at: http://altimetergroup.com/2014/07/the-2014-state-of-digital-transformation

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[Infographic] The 2014 State of Digital Transformation

  1. 1. Digital transformation represents the next stage of business development. It will improve how companies work inside and out. But, without knowing how the customer - or, employee - is evolving, digital transformation is just new technology operating under the guise of change. What is DIGITAL TRANSFORMATION? IT’S BIG... ENTERPRISE-WIDE As Altimeter Group studied digital transformation related to the digital customer experience, we found that, when companies explore digital transformation as a means to optimize customer engagement, they reap results. The realignment of, or new The 2014 State of DIGITAL TRANSFORMATION Based on a survey of digital strategists investment in, technology and business models to more effectively engage digital customers at every touchpoint in the customer experience lifecycle. DIGITAL TRANSFORMATION DOESN’T MEAN DIGITAL INVESTMENT ALONE. IT DOES MEAN THINKING “DIGITAL FIRST.” THE DIGITAL TRANSFORMATION DIVIDE A Notable Disconnect: Digital strategists and executives are investing in digital transformation, but without insight or purpose. 88% But, only 25% have mapped the digital customer journey and have a clear understanding of new or underperforming digital touchpoints of companies report undergoing a digital transformation THE TOP DIGITAL TRANSFORMATION INITIATIVES Very important Somewhat important Improving processes that expedite changes to digital properties, ie. website updates new mobile or social platforms, etc 80% 19% Updating our website and ecommerce programs for a mobile world 71% 25% Integrating all social, mobile, web, ecommerce, service efforts and investments to deliver an integrated and frictionless customer experience 70% 24% Updating customer-facing technology systems 66% 29% Further research into our customers’ digital touch points, as there’s more to learn 63% 36% Technology is part of the solution but focusing on it is also part of the problem. 46% only aim to overhaul customer service to meet the expectations of digital customers 80% of strategists surveyed report their companies are investing in improving processes that expedite change to digital properties such as websites, mobile, and social platforms. If this is about customer experience, many businesses are missing the customer and the experience. WHO’S LEADING DIGITAL TRANSFORMATION? Change doesn’t happen in silos. This is a partnership where all groups should work together. 54% CMO 42% CEO 29% 15% 5% CIO/CTO CDO (Chief Digital Officer) CXO (Chief Experience Officer) THE TOP CHALLENGES FACING DIGITAL TRANSFORMATION Very important Somewhat important Changing company culture 63% 34% Thinking beyond a “campaign mentality” in digital strategy efforts 59% 32% Cooperation between departments and team silos 56% 39% Resources (people, technologies, expertise) and budget allocation 56% 39% Understanding behavior or impact of new connected customer 53% 42% Culture eats strategy for breakfast 63% see changing company culture as a challenge 56% find cross-department collaboration difficult It takes a team to change but team dynamics work against working together Stop confusing customer experience with hit and run campaigns 59% Think beyond a “campaign mentality” 51% somewhat feel lack of data represents a challenge Improving customer experiences starts with knowing the customer CHANGE AGENTS MUST MAKE THE CASE TO EARN EXECUTIVE SUPPORT, AND THAT TAKES JOURNEY MAPPING AND DATA 53% find understanding customer behavior an extremely significant challenge Commerce 1 3 Formulation 2 Pre- Commerce TOP 5 BENEFITS OF DIGITAL TRANSFORMATION 63% Improved customer satisfaction (ie. NPS) 53% Higher traffic 46% Greater conversions 75% Lift in engagement 49% Increased lead gen/ sales DIGITAL TRANSFORMATION IS BIG AND OFTEN MISUNDERSTOOD. Understand how people use technology first to inform your strategy and give your work a sense of purpose. THE KEY TO DIGITAL TRANSFORMATION IS THAT IT’S NOT ALL ABOUT TECHNOLOGY DIGITAL TRANSFORMATION COMES DOWN TO PEOPLE NO MATTER HOW DIGITAL TRANSFORMATION IS PURSUED, BUSINESSES ARE CHANGING ALONG THE WAY CHANGE HAS TO START SOMEWHERE www.altimetergroup.com/digitaltransformation 4 Post- Commerce Evaluation Purchase Experience Loyalty Advocate Awareness Consideration Influence Loop
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Digital transformation is a formal investment in new technology, business models, and supporting systems and processes to change the way companies sell, market, operate and scale in an increasingly digital economy. This infographic communicates the state of digital transformation in 2014. More data and research in the full report: The 2014 State of Digital Transformation by Brian Solis, available for download at: http://altimetergroup.com/2014/07/the-2014-state-of-digital-transformation

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