Some businesses sell in days—like e-commerce ventures or food manufacturing—while others, such as hospitality or high-asset transport, can linger for months; it’s a reality that makes guessing the best time to sell as reliable as fortune telling. Steven Matthews, New Zealand Development Manager for the country’s largest business brokerage, Link Brokers, says businesses that sell quickly often share common traits. “Work-from-home e-commerce ventures, food manufacturing, and ...
It is not unusual for Kiwi business owners, especially couples in business together, to be torn by guilt from balancing the unrelenting demands of the ‘mistress’ against the needs of a healthy family relationship. “Being tug of war between family and earning an income to support that family can cause stress, burnout and put strain on the relationship,” says Gaelene Adams Love, founder of Team Fusion International. “The business has to keep running, but family is most ...
New Zealand's 'make-do’ attitude and reliance on quick fixes, once strengths, are a liability for eCommerce retailers and other SMEs in this age of digital and globalisation. Mark Presnell, managing director of eCommerce Integration Specialists Convergence, says New Zealand is no longer so isolated that we have to ‘make do’ and, if anything, it makes us vulnerable to smarter, faster, more efficient, and sustainable competitors. “Technology means we can scale and innovate at unp...
More than 60 percent of New Zealand companies cite a lack of sales as the primary constraint in their business, but the common assumed remedy is to hire a salesperson as a quick fix that inevitably ends in failure. "People think they can hire a salesperson, and sales will grow. But a salesperson by themselves cannot solve the problem of low sales," explains Assia Salikhova, Managing Director of Smarketing Lab. In a challenging economic climate like 2024, when many businesses cut market...
Many know about the cashflow and sales crunch that hits SMEs and sole traders over Christmas, but the real problem that needs attention is the toll that irregular income and poor life balance take on the relationships and families of those of more than half a million Kiwis in business for themselves. “’ I wish you would get a job so we can have a regular income’ is the heartbreaking refrain for many small business owners and sole traders. It can make a person feel really crappy to h...
The predicted wave of New Zealand baby boomers selling their businesses has not materialised—despite market conditions offering a unique window of opportunity— and factors like the GFC, cost of living, COVID, and now artificial intelligence (AI) may be the reason. Bruce Cattell, CEO of Link Business Brokers, says that while there are small surges of boomer businesses coming up for sale, the expected large-scale sell-off hasn’t occurred. “Boomers are healthier, livi...
New Zealand retailers are missing a massive opportunity by fixating on the threat of giants like Amazon, rather than leveraging eCommerce to expand into lucrative overseas markets. Mark Presnell, Managing Director of Convergence, an eCommerce integration firm based in Auckland, says New Zealand businesses tend to focus on defending their local market, but they should realise that the same digital tools Amazon uses to dominate can be harnessed to access global markets. “With the right...
Facebook, once a revolutionary platform connecting people worldwide, is facing significant challenges. Over the years, its focus has shifted from personal connections to a marketplace overwhelmed by ads and suggested content. For businesses and users alike, this shift has altered the dynamics of engagement, leading to new challenges. The Downfall of Facebook: From Connections to Ads Facebook's initial appeal was its ability to connect people with friends, family, and communities. However, th...
Business-to-business (B2B) sellers can no longer rely on basic, functional portals to meet the demands of their customers because younger generation B2B buyers are now looking for the same seamless experience they get from consumer eCommerce retailers. Managing director of eCommerce Integration Specialists Convergence, Mark Presnell, says the line between B2B and B2C is blurring. "Business buyers expect the same user-friendliness and convenience they encounter in their personal online shop...
New Zealand’s largest business brokerage reports that small and medium businesses coming to market this year are of better quality than those pre-pandemic, having proven their resilience through COVID, the recession, and supply chain crises. Steven Matthews, NZ Development Manager at LINK, says the pandemic and other economic crises were a blessing in disguise. “The team here at LINK is seeing profitable businesses come to market this year across New Zealand because SMEs had to cut...
Despite the GFC, the pandemic, recessions and extreme weather events, more than 2,000 Kiwi companies are marking significant anniversaries this year, including more than 60 businesses celebrating 70 years in business. Assia Salikhova, Managing Director of Smarketing Lab, says we often focus on business failures, but it's time to celebrate the many SMEs that succeed and endure despite our small, open economy. Smarketing Lab owns WhoIsWhere, New Zealand's most comprehensive company datab...
While life partners might be equal in love, the same equality doesn't always carry over to the workplace when both life partners are also in business together. Founder of Team Fusion International—a company that works to transform teams and couples in business through engagement and empowerment—Gaelene Adams Love says little seems to have changed over the ten years since the company was founded. “More often than not, coalface experience reveals that a real or perceived power imba...
While property and shares have traditionally been seen as the go-to investment options for Kiwis, some experts argue that in 2024, buying a business is potentially less risky and could offer better returns and greater financial security—but it is important to choose carefully. Steven Matthews, National Business Development Manager for largest business sales firm, Link Business Brokers International Group, says there is evidence that several factors, including static or falling property ...
Up to half of Kiwi businesses—between 40 and 50 per cent—that go up for sale fail to find a buyer because of poor preparation, and the number may even be higher because a significant percentage of business owners shut the door and walk away, often from a lifetime of labour. Bruce Cattell, CEO of New Zealand’s biggest business sales firm, Link Business Brokers, says the main culprit is that business owners get so caught up in doing the day-to-day that they fail to prepare for the fut...
As the economic slowdown persists and redundancies rise, more Kiwis are looking to go into business for themselves because they want to earn more and enjoy greater control over their lives, but most startups will end in failure, New Zealand’s biggest business sales firm warns Bruce Cattell, CEO of LINK International Group, says the illusion of job security leads many to consider entrepreneurship, either by buying a business or starting on their own. However, statistics show that 63% of New ...
Many Kiwi small and medium businesses unknowingly deter customers by overcomplicating the purchasing process in a time where research tells us as much as 74% of customers feel overwhelmed and are likely to walk away due to ‘purchase workload’. Assia Salikhova, Managing Director of Smarketing Lab, says businesses must implement a simple, clear, and comprehensive sales process to succeed in 2024. "The fear of missing out on the part of SMEs leads to a fear of specialisation, but this '...
A recession, job losses, and high immigration are driving a business sales boom. New Zealand's biggest business broker reports an increase in buyer enquiries of more than 35 per cent compared to previous years, and a significantly higher proportion of businesses coming to market are selling. Bruce Cattell, CEO of Link Business Brokers, says that despite the economic downturn, the data is reflecting increased buyer motivation and a smaller value gap between buyers and sellers. "This trend r...
It is common practice in business and sales in New Zealand to call some prospects' tyre kickers' and view them as a nuisance, but this attitude demonstrates a short-sighted interest in a quick sale rather than a long-term, caring relationship with our customers. Businesses especially in recessionary times, are advised to learn the value of the so-called 'tyre kicker' as someone who prefers to take their time and research their buying decisions (finance included) before making a conside...
New Zealand e-commerce retailers bewildered and anxious about the speed of technological change should not be frightened of what the future may hold for them because it is the correct application of technology that is critical to the customer experience--not tech itself. Mark Presnell, Managing Director at Convergence an eCommerce integration firm in Auckland, says most New Zealand retailers he speaks to are fearful, and the rise of artificial intelligence (AI) and fulfilment models like ...
Contrary to predictions that the days of small retailers are numbered, emerging new technology and shopper values suggests small retailers are well-positioned to thrive in the coming years—unlike the retail middle which will do it tough. Mark Presnell, Managing Director of Convergence, an Auckland-based e-commerce integration firm says the recent challenges faced by medium-sized retailers like Godfreys and Michael Hill highlight the pressure on the retail middle ground. "They often lack ...
Meet-and-greet business networking may soon be a thing of the past for New Zealand's small and medium businesses (SMEs)—worryingly, however, most Kiwi SMEs seemingly lack the mindset and skill set to adapt. While referrals and word-of-mouth (WOM) have traditionally been king, the digital landscape demands a new approach. Unfortunately, many Kiwi businesses appear to be struggling to translate their traditional networking skills to platforms like LinkedIn. "The problem is, many busine...
The demand by New Zealand consumers for speed, convenience and experiential shopping in 2024 may mean that most software as a service (SaaS) solutions – particularly in retail – have passed their 'use by date' even before reaching maturity as AI moves to transform the shopping experience. Managing Director of eCommerce Integration Specialists Convergence Mark Presnell predicts that the SaaS market may disappear as quickly as it arrived because it cannot offer best-of-breed function...
Business-to-business (B2B) eCommerce companies are urged to look to business-to-consumer (B2C) for digital strategies to help them survive the tightening and evolving New Zealand economy in 2024. Mark Presnell, Managing Director of Convergence, an eCommerce integration firm based in Auckland, says the B2B sector has been caught napping because traditional strategies, like referrals and in-person visits, are no longer as effective as they were pre-pandemic because of the rise of remote wor...
While many look forward to the holiday break, there will be many New Zealand businesses looking forward with a sense of dread because the downturn in activity is not only painful, but it can also lead to business failure. Assia Salikhova, the Managing Director of Wellington business development agency Smarketing Lab, suggests that businesses don’t have to give in to defeat. “The holidays don’t have to be a freeze period for businesses,” Salikhova says. “It’s those who sei...
In an unexpected development in the evolution of artificial intelligence (AI), many companies may reconsider using cloud-based AI systems in favour of on-premises servers. This shift, spurred by increasing concerns over AI's capacity to safeguard data confidentiality and privacy, signifies a notable reversal from the previous trend towards cloud computing. Mark Presnell, Managing Director of Convergence, an eCommerce integration firm based in Auckland, said that most people were under...
While many SMEs and some bigger companies brace for the Christmas cashflow slump--because of that 'holiday feeling'--there is no reason to resign themselves to a tough two or three months if they exercise some initiative. Irwin Hau, the founder and director of Melbourne web design agency Chromatix and the Australasian MarTech SaaS start-up ConversionCow, urges businesses to take the initiative and make hay while everybody sleeps. "The business-to-business sector largely fal...
With Christmas just around the corner, many people may not have realised that they can use artificial intelligence (AI) to revolutionise the gifts they give with a unique blend of creativity, technology, and a personal touch. Irwin Hau, the founder and director of Chromatix Web Design, a renowned web design agency in Melbourne, and the Australasian MarTech SaaS start-up ConversionCow, said innovative gift ideas not only leverage the latest in AI and technology but also add a personal ...
The recent unintended leak of Samsung's confidential source code, when a staff member decided to use ChatGPT, should warn all New Zealand companies that their intellectual property is at risk when staff are allowed to use artificial intelligence unchecked. Mark Presnell, the managing director of Auckland eCommerce integration company Convergence, said the incident underlines the potential perils of AI when used in a company setting. "Every company offers a point of difference because that ...
Air New Zealand's decision to temporarily outsource some call centre activities to the Philippines because there is a shortage of suitable staff is understandable, but also a self-perpetuating practise because it cheapens the profession—the moment you find a cheaper alternative, the less locals earn, says industry body Customer Contact Network New Zealand (CCNNZ). CCNNZ CEO, Elias Kanaris, said he understands Air New Zealand's decision to move contact centre activities offshore temporarily ...
Fake claims and half-truths are more significant and even more acceptable in 2023 than ever before, particularly in social media and on websites, which puts pressure on 'honest' Australian businesses to compete against over-hyped promises from some competitors. Irwin Hau, the founder and director of Chromatix Web Design and the Australian tech SaaS start-up ConversionCow, is urging honest businesses to bulk up their trust factors to make it easier for their customers to distinguish between ...
In this new digital driven world New Zealand retailers continue to lose money and opportunity because of not only their reluctance to invest in technology but more so by their failure to upskill and learn more about the tech driving their businesses—it's no longer something that retailers can simply 'leave to the experts'. Mark Presnell, who is managing director of Auckland eCommerce integration company Convergence, says that while Kiwi business owners are often derided for being slow to t...
A changing of the guard is gaining pace in New Zealand with the rise of 'younger' decision-makers in their 20s and 30s who rely on digital media like LinkedIn to network, job hunt and inform decisions. It's a development that is leaving behind older business owners and managers and causing a generational shift in power far sooner than previous generations. Assia Salikhova, the Managing Director of Wellington business development agency Smarketing Lab, says many busin...
A concerning trend by New Zealand's retailers is to take the easy route and opt for well-known, "convenient” technology stacks—usually American—like WooCommerce, Wix and Shopify; they are generic and frequently don’t allow retailers to fully deliver on their unique customer experience promise. Mark Presnell, who is the managing director of Auckland eCommerce integration company Convergence, says his integration company works with many and various technology stacks. Still, almost e...
A Kiwi’s natural tendency to get stuck in is often seen as a positive, but it may also have a darker side because business owners (SMEs) are so busy doing, that they don't see the train coming. Assia Salikhova, the Managing Director of Wellington business development agency Smarketing Lab, says she comes across business leaders who were caught out by the disruptions that resulted from the recent school holidays slow down, even though school holidays come around four times a year, every year...
The future of retailing is unfolding, and it’s hybrid—a combination of online shopping and in-person—and Kiwi retailers need to adapt fast and implement a multi-channel buying experience to remain relevant in the marketplace. Mark Presnell, the CEO of Convergence, a specialist in eCommerce integration, says the new model combines online and offline shopping, putting pressure on retailers to offer a seamless and convenient engagement. “It is not uncommon for New Zealanders to place...
There’s no question that Kiwi retailers are struggling with reports that almost half did not achieve their sales targets in the first quarter of 2023, and while some may be pondering cutting staff—if they haven’t already—but that would be a mistake. Mark Presnell, the CEO of Convergence, a specialist in eCommerce integration, is urging employers to avoid going down the same old path of cutting people loose because such cost-cutting tactics are a thing of the past. Retailers have so ma...
Kiwi retailers can defend against the incursions into the New Zealand market by overseas eCommerce retailers offering better prices, but they will need to deliver a flawless customer experience; the problem is that so few local retailers recognise the opportunity. Mark Presnell, the CEO of Convergence, a specialist in eCommerce integration, says, "She'll be right won't wash with globalisation, especially as the current global supply chain mess is limiting local access to products to which US...
As SMEs across New Zealand face pressure from various adverse conditions such as rising interest rates, labour shortages, and declining sales, it's now urgent for SMEs to take proactive steps to prepare for the coming storm. Vijay Nyayapati, an EOS facilitator who works with big and small clients across New Zealand, says some clients have noticed declining sales, some as high as an 80 per cent drop. "Interest rates are rising, and businesses that are not prepared will f...
Rising interest rates, a recession on the horizon and high levels of inflation combined, make for a perfect storm that will put huge pressure on retailers already under strain after the pandemic, unless they get better at retaining customers through loyalty initiatives. Mark Presnell, who is the managing director of eCommerce integration company Convergence, said a clever loyalty programme can create the highest marketing return on investment by helping to keep customers engaged. “But it...
The minimum wage increase in April will cut into the New Zealand horticultural industry's already tight margins and put increased financial pressure on a sector decimated by bad weather, not least the floods. Some small growers could go under as a result. From April 1 this year, the adult minimum wage across New Zealand will rise to $22.70 per hour. The training and starting wage rates will increase from $16.96 to $18.16. "We're not say don't pay fair wages for a fair day's work—pick...
New Zealand is one of a select few countries granted approved destination status (ADS) by China's Ministry of Culture and Tourism, however, Kiwi businesses need to start marketing to China urgently if local businesses want to benefit—but Kiwis will need to focus on certain changes in Chinese tourist thinking and priorities. Anne Casey, the chief executive of Marketing Minds, a local marketing agency that works in the Chinese market, said research published in December 2022 revealed that t...
The Crate Flexible Office Space–a coworking facility on Auckland's North Shore–is experiencing an overwhelming number of inquiries weekly compared to any other time since it was founded 10 years ago--demand is booming in the new reset. A few months ago, working from home was the new normal, and few held out hope of a complete return to the office. While that trend seems to be holding steady, it isn't the whole story. From The Crate’s current experience, Coworking is fast overtaking th...
As interest rates rise and house prices start to come down, the market is seeing a rise in mom-and-pop property investors contemplating whether to sell their investment properties in the expectation that times may get tougher, said Ray White Mairangi Bay agent Drew Miller. New data from the CoreLogic House Price Index showed home prices might dip a further 15-20% in the second half of 2023. On top of that, while increases in the Reserve Bank’s official cash rate (OCR) are forecast...
With 30 per cent of all products purchased online likely to be 'comebacks', the returns process continues to be an underestimated cost to retailers--many do not know the number of returns or resulting losses--and a source of frustration for Kiwi shoppers. According to NZ Post, New Zealanders spent more than $550m online on physical goods during the significant November sales events such as Click Frenzy, Singles' Day, Black Friday and Cyber Monday. That equated to about 161,000 transactions ...
A pandemic induced slowdown in immigration, escalating compliance obligations, widespread talent shortages and the subsequent high cost of labour is driving a sharp increase in Kiwi SMEs looking to outsource everything from administration and compliance obligations to sales support. Director and co-founder of ManageMe Outsourcing Services, Tatjana Day, said today that the outsourcing trend is another example of how companies and people are adapting to the changed post-pandemic environme...
An award-winning New Zealand marketing agency is warning that the rise of artificial intelligence (AI) tools like copy.ai and the new ChatGPT, while useful, could quickly turn into money or time traps for unsuspecting business owners looking for a silver bullet. This year’s winner of the Westpac Auckland Business Awards 2022 (South & East) Excellence in Marketing, CEO and founder of the Auckland marketing agency Marketing Minds, Anne Casey, said people are always looking for a shortcu...
A New Zealand eCommerce expert is worried that the art of retail may be lost to the cookie cutter approach currently dominating local online shopping sites. Mark Presnell, managing director of eCommerce Integration Specialists Convergence—a company that integrates eCommerce sites with backend software and processes— believes New Zealand’s eCommerce retailers could be more successful if they stopped boring shoppers and instead rediscovered the art of both the ‘theme’ and the ‘sho...
Digital marketing technology may be more of a time waster and productivity killer than a panacea this Christmas because it could ty your staff away from other important activities like customer service, an Auckland digital agency warns. Fuel Design director, Jason Carr, said wasted time can be crippling for e-commerce and bricks-and-mortar companies, both of which are hoping to capitalise on the revenue injection during the Christmas shopping rush period. This holiday season, a lot of reta...
One of the most important ways an online retailer can make themselves more attractive to shoppers looking online for Christmas gifts this year is to provide a strong returns process to build trust and confidence with consumers. Mark Presnell, managing director of eCommerce Integration Specialists Convergence—a company that integrates eCommerce sites with backend software and processes—said eCommerce is not only handicapped by the inability of shoppers to touch, smell, and try on a product...
Property vendors who try to outsmart the market by holding out for the heady sales prices of yesterday are bound to come unstuck, a local Ray White real estate agent is warning. Ray White Mairangi Bay real estate agent, Drew Miller, said today that mixed messages from commentators about where the market is going is leading to vendor confusion, indecision and, in some cases, cause financial losses. "People hear that prices are trending down, then they read that some regions are recording re...
The demise of flashy advertising and catchy jingles has created new and uncomfortable pressure for mom-and-pop business owners who now have to front their own interactive marketing media, and it's a reality that's leaving many cold. Presentation coach and former NZME broadcaster John Maybury said customers expect the people they are buying from to interact with them, but it's a level of personal engagement that few business leaders feel equipped and confident enough to handle. "For most Ki...
As leaders and business owners do you sometimes wonder about how much of an expert you really need to be? Personally, I have subscribed to this quote: “Even if you don’t do the work, you should know the work.” The statement is loaded with tripwires and it needs to be used with some caution. You need to guard against being a micromanager, or thinking you need to be the expert in everything to be an effective leader. Equally, you don’t want to get bogged down in the detail, but unless y...
The 2 words you need to train your staff NEVER to say. If you employ staff, why do you? I am not referring to legal semantics here, like are they employed or are the subcontractors etc. What I am asking here is: are you employing staff just to lay your hands on, well, more hands? Or in the ideal world, should these people be contributing to the overall improvement of the business? No judgement here, either scenario could work for you. If you just want more available hands then the path to ...
What is influencer marketing? With the rise of more and more people becoming influencers by gaining huge followings of ‘fans’ on social media platforms, there is a great opportunity for marketers to invest in influencers. Influencer marketing is a type of social media marketing where influencers are paid to promote and endorse products. The reason it works so well says it all in the name, ‘influencers’. They are able to influence what their followers will purchase as they have esta...
The media is full of bad news because we are drawn to conflict and carnage, but not because our instincts move us to watch for threats (as some suggest). I believe that it’s not the negativity that draws us, but our irrepressible hope for a happy ending. Understanding this will make your content more interesting. If you want to share positive, upbeat content, the chances are that it will flop (almost as badly as my recent plunge off the rocks at Piroa Falls, Maungaturoto). Like rubbernec...
Now, as New Zealanders finally start to look to life in a post-pandemic economy – with the disruptions and challenges that isolation and rising inflation may bring – Kiwi SMEs will have a better chance of getting through if they prioritise customer relationships and connectedness. Bejoy Jose, the director of Mello Technologies – a digital marketing agency and authorised Zoho Customer Relationship Management partner based in Auckland – said its often the aftermath of global events like...
Research suggests that more than 70% of created content dies a lonely death. Could you be making this common audience strategy mistake? Building an audience is difficult because most companies settle for obvious content, usually in their area of expertise, without thinking through the subtleties of what their potential audience really needs. To illustrate this, imagine you want to create an IT support podcast that appeals to company CEOs and general managers (the decision-makers). The podc...
By Sanele Ngubane A brand is far more than the name of a company or business; it's the identifier, the mission statement, the integrity and the backbone of it. A nurtured, purposefully curated, and consistent brand will create long-lasting demand. It should be "what you see is what you get" in the most positive sense of the phrase. Let the branding that your consumer sees manage the expectation of the service you provide. To have a brand leading the demand, you need to build a stron...
Firstly there are several players in the market when it comes to video hosting and if you’re running a site that depends on videos then there are other solutions for you that are not mentioned in this post. This post is designed to help the average company who wants to put promotional, training or even testimonial videos on their website. YouTube is the world’s most well known and most used video streaming service behind Netflix. YouTube accounts ...
It does not matter whether you sell camping gear, financial services, or eco-friendly clothing, one of your main goals is to convert as many leads into sales as possible. This is what conversion rate optimisation is all about. Often shortened to CRO, conversion rate optimisation is something that no business can afford to overlook today. Not only does it help you to improve your bottom line, but it will save costs, empower your marketing team, and increase the efficiency and sales of multi...
We talk a lot about digital marketing here at Mars Digital, but I don’t believe I’ve ever gone into an explanation of exactly what digital marketing is. So this is exactly what I’ll be doing in this post. At a very high level, digital marketing is the process or act of advertising through and on digital platforms such as search engines like Google (through SEO, PPC, and more), websites, social media, email, and mobile applications. While putting together notes for this article I actuall...
While your site maybe number one from an SEO perspective, there really is no point if it’s not generating any leads or sales; and that is where conversation rate optimisation comes in. Conversion rate optimisation is rooted heavily in user experience and design and is the process of improving a websites performance when it comes to “converting” traffic. Here are five tips you can do right now to improve the conversion of your website. 1. Show off Your Pr...
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The National Party spent approximately $167,000 more on Facebook than Labour or the Greens in the lead up to the recent general election but their strategy to use multiple messages across a broad range of topics – compared to Labour's one or two – may have helped contribute to their undoing. Chief Executive Officer of Auckland digital marketing agency Insight Online, Kim Voon, said today that Labour's Facebook campaign was characterised by just one, sometimes two, messages consistently. ...