TWO OF AUSTRALIA'S TOP BUSINESS LEADERS, MARINA GO, PUBLISHER OF CRIKEY, WOMEN'S AGENDA AND THE POWER INDEX, AND ANDREW COCKS, CHIEF EXECUTIVE OFFICER OF RICHARDSON & WRENCH, TALK BUSINESS, SOCIAL MEDIA AND NEW TECHNOLOGY.
MARINA GO, PUBLISHER OF CRIKEY, WOMEN'S AGENDA AND THE POWER INDEX
WHAT DO YOU THINK THE LASTING EFFECT OF THE GFC WILL BE ON AUSTRALIAN BUSINESS? Marina: Businesses have to think differently and can't afford to be complacent. They are moving forward in a modern way and using technology, and I think there is a bigger focus now on the use of technology than there would have been pre-GFC. Andrew: It is clear that the global impact of the GFC has resulted in an increased level of caution being demonstrated by most consumers in relation to the risks they take. I don't see these trends changing in the short term but I do expect that the cycle will turn at some point in the years ahead.
HOW HAS SOCIAL MEDIA TRANSFORMED THE WAY YOU WORK? Marina: The great thing about social media is that it allows you to speak directly to your customers. The downside, of course, is that with this opportunity
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comes risk and if you don't manage your brand really well you can have negative conversations. Andrew: Our business is based on quality relationships and trust, so it hasn't fundamentally changed the way we work; however, it has made the process of communication much more instantaneous.
WHAT IS THE SINGLE BIGGEST CHANGE TO YOUR BUSINESS THAT HAS RESULTED FROM A NEW TECHNOLOGY? Marina: The biggest change has been that format and technology have allowed us to go directly to a customer in a way that they're comfortable with; we're with them all the time. About a quarter of our audience is interacting with us via smartphone and I suspect that will grow. Andrew: The ability to communicate with our market. It is now so easy to take our business to them so that they can obtain and assess information, and make
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