A couple of weeks ago I did a keynote for a client that are based in New Zealand. During my session I spoke about the digital future of New Zealand and the challenges and opportunities that lies ahead for businesses in that particular region. Research from Gartner and Price Waterhouse Coopers unveil that business leaders in New Zealand are acknowledging the digitization and also leading digital transformation in their enterprises.
As you can tell from the graph above 84% of CEO’s think that mobile technologies are strategically important for customer engagement. The growing adoption of smartphones and tablets have transformed they way customers access information and perceive value and offers from businesses. Today’s customer journey is no longer a linear marketing funnel that’s shaped by brands, it’s more like a slinky spiral that’s shaped by the person making the purchase decision and his or her network of friends.
According to Gartner’s report The 2016 CIO Survey 52% of ANZ CIOs are leaders of digital transformation in their enterprises, and more than 40% are the innovation leader. This is significantly higher than the global averages of 40 and 30 percent respectively.
New Zealand CEOs believe that changes in customer behavior followed by technology will be the key disruptors in the future. As many as 76% percent of the respondents say that changes in customer behaviors will cause disruption in their industry. Even though many businesses in New Zealand are struggling with their digital strategies the average CIO expects digital revenue to expand from 14% to 32% of total revenue in the next five years
From the insights above we can conclude that businesses in New Zealand are beginning to put more effort and energy into creating successful digital strategies. At the same time they are realizing that the rapid changes caused by technology and changing customer behaviors are presenting both opportunities and risks.
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