To thrive, businesses today must put technology at the heart of what they do. Success stories and failures reinforce this. This strategic importance is reflected in the size of the market, with Forrester predicting that the worldwide technology market this year will be worth US$2,221 billion. But this lucrative market is fast, crowded and increasingly commoditised.
At The Good Relations Group, we believe that ‘good’ technology will be a foundation stone for long term business success. But in the business-to-business technology market just how many investment decisions are based solely on solid, rational factors; a dispassionate analysis of the complex and strategic issues that senior leaders dissect and decide upon? Or do other more emotional and instinctive factors come in to play when business leaders seek to make a ‘good’ decision? Indeed, what is a ‘good’ technology company made up of today?
To find out, we surveyed 175 C-suite leaders of UK businesses on the hard and soft factors that lie behind their technology purchasing decisions. When looking at the softer emotional factors, we dug deeper to measure the modern definition of ‘good’ and to gain their thoughts on what makes a business good or bad in their eyes. We tested ‘good’ as a trinity:
Good Actions: what might be called ‘doing the right thing’; this is about companies acting in the common interest of its stakeholders.
Good Recommendations: good can also defined by advocacy and positive endorsement – more simply, what people say about you when you’re not in the room
Good Engagement: last, but not least, insight and creativity goes a long way with consumers, helping to build a ‘good’ brand
These factors create something that we have termed “The Power of Good”; the combined impact of good actions, recommendations and engagement that can help a business soar above its competition.
You can download the full report on The Good Relations Group website – http://www.goodrelationsgroup.com/whats-happening/