Web-savvy growth companies are using their sites for more than advertising and product information, according to PricewaterhouseCoopers LLP’s latest
survey. Sixty-one percent of the companies surveyed are also using them to
build customer relationships.
And 60% use them to invite comments and feedback, according to the company’s
“Trendsetter Barometer” report.
PricewaterhouseCoopers “Trendsetter Barometer” interviewed CEOs of 446 product and service companies identified in the media as the fastest growing U.S. businesses over the last five years. Half of the CEOs say their companies are recognized as high-tech firms.
“Companies that understand the concept of ‘virtual communities’ are
positioning themselves to capture the hearts and minds of their customers,”
said Ellen M. Knapp, chief knowledge officer and chief information officer for
PricewaterhouseCoopers. “These firms know that creating virtual communities
will help them better understand and bond with the customer, essential to building market share in today’s knowledge economy.”
In addition to developing relationships with their customers and prospects,
“Trendsetter” growth companies use their Web sites in a number of different
ways. Most use them to advertise (94%), provide in-depth product or service
information (85%) and obtain new sales leads (71%). Moreover, slightly more
than half (51%) include their Web sites in employee recruitment
efforts, and 50% use them to provide services to customers.
Only 32% of the companies with a Web presence use it for direct sales of
products or services. “This low percentage is undoubtedly rooted in concerns
about privacy and electronic commerce security,” said Knapp. “Even among risk-taking growth companies, e-commerce security remains an issue they must
To be successful with their Web sites, growth companies report that ongoing
maintenance is essential. Currently, 25% update their site information daily
or weekly and another 33% do so at least monthly. “The importance of keeping
Web sites both current and engaging cannot be overstated,” Knapp said. “Site visitors are looking for the absolutely latest information. If a site fails to supply a steady stream of relevant new content, visitors will simply navigate elsewhere for what they need.”
Currently, 77% of America’s fastest growing companies have at least one Web
site, and another 14% expect to follow suit within the next 12 months. “A year from now, more than 90% of ‘Trendsetter’ companies will have established a presence on the Web,” Knapp said.
One in four “Trendsetter” CEOs (24%) with a Web site rate it as a major or
important contributor to their own business growth. Overall, almost half of
“Trendsetter” CEOs (46%) view the Web as an extremely or very important
business tool over the next 12 months: 19% say it will be “extremely important” and 27% call it “very important.” Only 8% dismiss it as unimportant.
PricewaterhouseCoopers’ “Trendsetter Barometer” is developed and compiled with assistance from the opinion and economic research firm Business Science