What are technology corporations’ top trade Challenges of 2015?

February 12, 2015

in the quick-transferring world of expertise, new trends are at all times emerging—and corporations are challenged to figure which of them to address vs. which of them to go away at the back of. As a part of a brand new physique of research, a lot of tech firms (along with firms from six different industries) were surveyed about their high trade challenges and advertising priorities for 2015. the implications are supposed to supply perception into the best techniques for driving success within the coming year.

The Hinge research Institute accrued responses from 530 professional services and products firms from the fields of accounting and finance, technology, advertising/communications, A/E/C, legal, and management consulting.

across industries, firms had many popular concerns.

It’s apparent that developing new business opportunities weighs heavy for skilled services and products corporations. And tech companies are no totally different.

prime 5 Challenges

when we pull the numbers of know-how corporations particularly, we see some robust correlations with the overall rankings—and a few great exceptions as smartly. Let’s take a deeper seem.

1. Attracting and growing New business

know-how companies are proper in line with the remainder of the skilled products and services neighborhood in their situation to improve new trade opportunities. With sixty three.8% of respondents ranking this as a excessive-precedence problem, in comparison with 72.1% of all respondents, the tech world isn’t reasonably as occupied with growing its client base as different professional services industries.

this is likely due partly to the emergence of many companies providing instrument as a carrier solutions—and thereby holding buyers as subscribers over long classes of time. With purchasers tethered to ongoing services and platforms, garnering new professional relationships isn’t slightly as pressing as in another industries. though with increasingly powerful provider structures coming to market, competition for a finite number of shoppers will handiest make this problem extra important within the days in advance.

2. discovering/preserving excellent individuals

The tech world calls for the best skill. because failure to hire and continue workers with extremely specialized skillsets and certifications can mean disaster—even essential security breaches—technology firms imagine this challenge the next priority than the combination of respondents (at forty two.6% to 36.9%).

the current development of employee-centric, individuals-first tech firms will probably continue well into the future, as nurturing the skilled boom and the happiness of their staff permits these firms to maintain top rate skill.

3. Innovation/New ideas

No other business ranked innovation of their high 5 challenges. This says rather a lot about how essential new ideas are to the know-how business. expertise is a crowded space—and when many corporations supply equivalent products or services and products, some will fall through the wayside.

what will make the difference for the survivors shall be innovation. now not only innovating with new concepts, but with ideas that are relevant to their clients. Innovation that doesn’t handle consumers’ needs won’t win any new clients. To steer clear of this trap, consumer and market analysis want to be key elements of the tech industry’s marketing strategy in 2015.

4. coping with a tough economy/competitive marketplace

With 27.7% of expertise corporations deciding on financial/market-pushed challenges as excessive-priority, and 28.three% of all respondents agreeing, the tech trade is right in step with different professional products and services corporations.

When competing for business alternatives, it’s vital for firms to distinguish themselves—to search out methods of surroundings themselves aside culturally or technologically. As with innovation, finding prime differentiators takes analysis and deep perception into how your agency stands out from others. corporations should speak to shoppers, to staff, and to partners so as to to find out what has set them apart of their collaborators’ eyes, and what hasn’t.

5. coping with shopper demands/Expectations

companies have turn out to be extremely dependent on know-how. With clients expecting increasingly from their service providers, technology corporations are referred to as upon to deliver prime-notch options and to be experts in their field. this means severe quality control on the front end and unparalleled customer support on the again. It’s no wonder this ranks in the top 5 challenges of tech corporations.

Conclusion

we think so much from technology services and products corporations—innovating with new concepts, creating solutions, and excelling at customer support are excessive on the list of expectations. the important thing marketing challenge for these corporations is making sure that shopper wants are being met and that new ideas and new solutions are relevant to those needs.

for those who’d like to search out out more in regards to the research learn about, we invite you to obtain the free record. You’ll research extra concerning the challenges discussed, in addition to the selling initiatives favored by using the expertise business as they push ahead in 2015.