By Dennis McCafferty
98% of survey respondents said new, competitive contenders are creating at least some form of disruption within traditional markets through data-driven, efficient and personal direct-to-customer business models–and 37% said the disruption is “severe.”
67% of those surveyed said these new, global contenders are distinguished by their willingness to take chances, and 63% said they stand out for their vision and ambition.
Easier “compare-and-pay” shopping: 59%, Increased access, availability and convenience to products/services: 49%, Lower costs and barriers to entry: 44%
Advertising, sales and marketing: 39%, Retail: 37%, Entertainment: 31%, IT solutions and services: 21%, Media: 21%
Innovative business models: 79%, Agile, efficient operations: 54%, Superior digital and mobile word-of-mouth: 35%, Enlightened business practices: 33%, Access to growth capital: 18%
56% of survey respondents said this disruption can teach them about better customer-centric thinking and insights, while 36% said it can help them adopt a willingness to fail and take non-traditional approaches.
28% said the disruption can teach them how to disrupt status quo through tech innovation, and 23% said it can lend insights about enhanced speed-to-market using digital marketing platforms and channels.