Warc, 29 September 2014
SAN JOSE, CA: Productivity and efficiency have been the
traditional indicators of business performance, but a new study argues that
creativity helps brands to outperform their rivals in terms of both revenue
growth and market share.
According to the Creative Dividend survey, conducted by
Forrester Research for Adobe, the US software company, 58% of firms that
believe they cultivate creativity reported revenue growth of 10% or more
compared to 2012.
By contrast, only 20% of the less creative companies
recorded a similar performance.
Based on a poll of senior managers from more than 300 large
global brands across eight countries, the survey also revealed that creative
companies were more likely to achieve greater market share and "competitive
leadership".
Of those reporting market share leadership, creative
companies outnumbered their less creative counterparts by a factor of 1.5, the
report said.
Despite growing awareness of creativity's influence on
commercial success, almost two-thirds (61%) of respondents said they did not
see their companies as creative.
And just over half (51%) said they were neutral or not
aligned with creative firms, while 10% believed their employer's business
practices led to the opposite of a creative environment.
Brands that embrace creativity also appeared to foster
better morale in the workplace, the report suggested.
More than two-thirds (69%) of creative companies said they
have won awards and national recognition for being "a best place to
work," compared to just 27% of companies deemed to be less creative.
David Wadhwani, senior vice president of digital media at
Adobe, said creative companies were 50% more likely to report a commanding
market leadership position over their competitors.
"For years, business leaders have focused on things
like employee productivity, process efficiency and workforce planning as the
key success drivers for their companies. But over the past few years, the
mindset has shifted," he said.
"Leading companies recognise the importance of another
key success driver – the need to infuse creativity into all aspects of the
business environment – from strategy and culture, to innovation and customer
engagement."
Data sourced from Adobe; additional content by Warc staff
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