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Relationships key to winning NZ enterprise IoT business

Eighty per cent of large IoT buyers need help to implement, says IDC analyst

NZ enterprises are seeking relationships and partnerships with internet of things vendors as they invest to improve business productivity, product quality and cut costs.

Just over 80 per cent of New Zealand organisations that have or plan to deploy an IoT solution intend to seek third party vendors to assist them, new IDC research shows.

"Vendors that have strong relationships with customers in adjacent fields may find benefit in offering IoT," said Liam Landon, associate market analyst at IDC.

"Conversely, IoT vendors may gain from partnerships with adjacent vendors that already have strong customer relationships." 

IDC has just released insights from its 2019/2020 global IoT decision maker survey for Australia and New Zealand. 

A key insight was that companies say their top vendor selection criterion is not technology related; it is relationship related.

While enterprises are also looking for vendors with cost effective solutions, they prefer to select vendors that they know, Landon said. 

Just over 80 per cent of New Zealand organisations that have or plan to deploy an IoT solution intend to seek third party vendors to assist them in building or implementing them.

Credit: IDC

"Vendors that can establish themselves as market leaders and put themselves in the eye of customers will generate business with new customers," Landon said. 

"They will create the opportunity to cultivate mutually beneficial relationships."

 New Zealand organisations are deploy IoT to improve their internal productivity and efficiencies. 

"Vendors should focus on showing how their solutions can help to achieve these goals and demonstrating how their products are differentiated from the competition," Landon said.