INTANGIBLE ASSETS KEY TO GOOD TECH COMMS, RESEARCH SAYS
The data surrounding the growth of the technology sector is almost superfluous. In London alone, tech is responsible for £12bn and 45,000 jobs. The worldwide technology sector is worth $2,221bn this year. No survey or research can prove the tech sector’s worth. However, there is insight to be gained into the makeup and activities of companies in this sector who are, for maybe the first time, true global business leaders of the post-recession world.
The Good Relations Group has released its B2B study study into technology communications, the Triple G. It examines good actions, good recommendations and good engagement by conducting quantitative research with 165 board members of leading tech firms and interviews with 10 others to measure the value of soft capital.
“It’s fine for companies to make instinctive decisions, but surely in B2B, it’s all about ROI,” says Sinead Jefferies, MD at Opinion Leader Research, who carried out the study. The research was based on the concept that 65% of a company’s market capitalisation is based on intangible assets like reputation, brand, perception and the like. By examining the tech sector as a whole, the study was able to determine the main drivers behind these intangible assets.
Consumer-facing communications rely more on the gut instinct of the marketer and the consumer; 73% of purchases are made when a brand is strong and 91% of purchases are made based on personal recommendation. But on the B2B side, comms involves reputation building, CSR, internal engagement, investor relations and much more.
For tech companies, CSR is rapidly becoming a major point of differentiation and focus. Of those polled, 93% say its important to work with a truthful supplier and 73% want suppliers to help them become more responsible. Internal comms is also key to reputation building. “Our employees are the best asset we’ve got and if we employ well, they’ll be the best ambassadors we’ve got,” says Philippa Snare, CMO of Microsoft UK.
The top three ranked brands were Cisco, with 75% perceiving it as an ethical brand, Microsoft, which 90% say is recommended to them, and Apple, which is the perennial favourite when judging strength of brand.
The survey will be followed up by an in-depth look at the value of B2B intangible assets, due out in September.