Firms not making the most of the internet, says CBI

Only a quarter (23 per cent) of companies feel they make better use of the internet than their competitors, according to new research.

In an internet trends study commissioned by the Confederation of British Industry (CBI) and Google, over two-thirds (70 per cent) of employees said their company still had a lot to learn about how to reach customers online.

‘Too many companies still feel their online activities don’t live up to the competition and firms are upfront about still having much to learn about how best to reach customers via the web,’ said Richard Lambert, director-general of the CBI.

‘Businesses need to grasp the opportunities with both hands and make the Internet as central to their business as HR or finance – or they risk being left standing,’ said Lambert.

‘Businesses have come a long way on the internet journey but the real ascent is still ahead and much of the terrain is unknown,’ he said.

Half of businesses recognise that adapting to changes in consumer behaviour as a result of the Internet is crucial to their future success according to the report.

Most companies (75 per cent) are making their online presence more central to their overall business and more customer focused with 58 per cent of companies planning to increase their investment in online marketing.

The survey consulted 500 companies and 500 consumers and was published in advance of the CBI’s annual conference.

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