Brisbane businesses need to use digital technology more actively to engage their customers, according to research by UQ Business School in conjunction with Ernst & Young.
The Brisbane Digital Audit was prepared for the economic development board, Brisbane Marketing, to identify opportunities for Brisbane businesses to tap into the global digital economy, which is estimated to be worth $US20 trillion.
- Using new methods based on cutting-edge research, the audit interviewed 500 Brisbane businesses across 19 industries, ranging from single operators to those with more than 5,000 employees. It gave the city an overall ‘digital maturity’ score of 3.07 on a scale of 1 to 5. The audit reveals that:
- 83% of businesses are using digital technologies but only 30% are selling products and services online and only 41% communicate electronically with customers and suppliers. Of the 17% which have not adopted digital technology, most provided no reason for the lack of adoption.
- Over half (55%) of businesses do not have a written digital strategy. Of these, 23% have not considered one and 16% understand the importance but do not have one in place.
Businesses involved in export activities have a higher level of digital maturity. This ties in with recent research by UQ Business School which found that firms using the web to engage customers were more profitable, more likely to innovate and to export than other firms. Dr John Steen of UQ Business School said: “As existing industries converge with the digital economy, traditional business models are being disrupted and new models are emerging. Brisbane businesses need to transform their existing businesses to compete successfully in this new economy. The Digital Audit reveals that businesses are embracing the digital economy but with varying levels of maturity and at different pace”.
