New Study from Tenovos Finds that Benefits of Creativity are Universally Recognized but Enterprises Continue to Prioritize Efficiency
New York – August 25, 2021 – Tenovos, providers of the modern, data-first Digital Asset Management (DAM) platform that helps brands tell stories that matter, today announced findings from a new study indicating that enterprises that put an emphasis on creativity significantly outperform their less creative counterparts. The study, titled The Creative Enterprise, polled more than 3,600 companies with at least $100M in annual revenue and compared businesses that report being driven by creativity with those that prioritize efficiency. The findings uncovered clear trends that show a direct positive correlation between an emphasis on creativity and favorable overall top-line growth, customer loyalty, profitability, and employee morale.
In fact, 100 percent of respondents said that creativity materially improves top-line growth for their business when it is operating at its best. What’s more, 100 percent of respondents also said that creativity strengthens customer loyalty and increases overall profitability of the business when their company is operating at its best. And 97 percent of respondents said that creativity improves morale across the enterprise. The near unanimity of the data points above excludes those respondents that opted out of the question (14 percent of all respondents) because it was impossible for their organization to measure that impact.
Despite the recognition of the immensely positive impact of creativity on the enterprise, most businesses do not prioritize creativity across their organization. In fact, 86 percent prioritize or optimize for efficiency over creativity today.
“The data speaks for itself. There’s no question that enterprises that have creativity as a foundational pillar to their business perform better overall,” said D. Scott Bowen, CEO of Tenovos. “It speaks to the tremendous opportunity organizations have to grow and improve across categories by making creativity a strategic focus. Efficiency is a foundational operating principle, but it is creativity that will align your business and your organization with your mission.”
Additional interesting findings from the study include:
- Respondents inside creative-focused organizations were 2.6X more likely to be satisfied with their current state than those inside efficiency-focused organizations (28.6 percent of creative-focused respondents were satisfied versus 10.7 percent of efficiency-focused respondents).
- 90 percent of executives (those with a title of Director and above) perceived their organization as prioritizing efficiency over creativity.
- Executives (those with a title of Director and above) were 3X more likely to have an “ideal state” that had an increased emphasis on creativity.
- And for those creative-focused organizations desiring some sort of change with their enterprise, 70 percent would want a greater emphasis on creativity versus efficiency.
Tenovos helps brands tell stories that matter. The company’s Active Story Management (ASM) platform and associated product lines transform the way brands connect with customers using stories that inform, inspire, connect and entertain. Consumer brands in CPG, retail, media & entertainment and food and beverage, use Tenovos’ technology to augment their content with intelligence that elevates content assets to stories using data and experience.
Tenovos is privately held and headquartered in New York City. For more information, please visit www.tenovos.com.
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