Three lessons from the Digital Transformation Trends 2020 report.

Our 2020 Digital Transformation Trends report measures the latest experiences straight from the boardrooms of high-performing organizations. More than 150 senior executives from companies with at least 10 million dollars in annual revenue have shared their insights.

Three lessons from the Digital Transformation Trends 2020 report.

Our 2020 Digital Transformation Trends report measures the latest experiences straight from the boardrooms of high-performing organizations. More than 150 senior executives from companies with at least 10 million dollars in annual revenue have shared their insights.

The view from the boardroom.

This year, Adobe and Econsultancy have published the 2020 Digital Transformation Trends report to shine a light on the world’s leading businesses. For the first time, this report delivers key insights from c-level executives, revealing their insights into customer experience, data management, and AI.

1. Customer Experience

We’re all waking up to customer experience.

The big takeaway from the report? C-level executives are realizing the value of customer experience. In 2020, 51% of executives are planning to increase spending in this area (with 45% keeping spending the same). That leaves only 4% that are planning to reduce their investment in customer experience. Leaders are now ranking CX higher than data-driven marketing and content creation as the biggest opportunity for 2020. Delivering better customer experience impacts all areas of the business – from customer acquisition, loyalty, up-selling and cost reduction. However, customer experience is no longer just a marketing responsibility. For CX to be truly successful, the entire senior management team needs to be persuaded about the positive impact on the top and bottom line. Our 2020 Digital Transformation Trends report includes practical steps to help transform your customer experience management.

2. Data & AI

How Data and AI are teaming up to change CX.

Data and Artificial Intelligence are now working hand in hand to deliver personalized experiences in real-time. More c-level leaders now understand the potential for AI to streamline insights and better reach customers. C-level executives told us that customer journey management is their top priority for 2020, closely followed by data management. Based on the 2020 Digital Transformation Trends results, we can expect to see more brands automate these processes. The immediate benefit is that AI can remove friction and help to open deeper insights into customers. But AI is also being used for data management, which can help to reduce the risk of security breaches. As for the future, the facts are clear: 66% of c-level executives are already using AI and Machine Learning or said they were planning to use it. For businesses looking to apply a more personalized experience, our SunTrust case study on purpose-driven marketing is a good example of how it can be done.

3. Company Culture

How to attract the best talent for the decade ahead.

Like most things in business, change begins with individuals. Even with the buzz around AI and customer experience, c-level executives recognize the role of company culture in making that happen. Expectations have never been higher, both from customers and employees. For some, company culture means having the right talent, appropriate training, and even shared values. For leading companies, it certainly transcends business strategy; it’s a complete transformation. As David Goldman, the Chief Digital Officer at Coca Cola memorably puts it, “It’s about disrupting ourselves before someone else disrupts us.” To evolve, companies need talented leaders who can challenge the business and move it forward. The independent membership and research organization, The Conference Board, recently revealed that 43% of executives predicted that attracting talent would be the biggest issue five years from now. Our 2020 Digital Transformation Trends survey results also found that those in c-level positions were 25% more likely to take an open-minded approach to learning.

The main talking points.

Hand Clicking

Customer Experience
More than half (51%) of C-level executives are planning to increase their investment in customer experience in 2020.

Connected dots

Data management
66% of C-level executives said that their organizations are either already using AI and machine learning technology or are planning to invest.

Automation

Company Culture
C-level executives are 25% more likely than other respondents to view attracting and retaining talent as a chief concern for 2020.

  

Download the report to find out where trends are heading.