Four key success tips for hi-tech growth companies based
on fourth annual Market Measures survey
An on-going mission to find the formula for Kiwi hi-tech
marketing success is the driver behind the fourth annual Market
Measures survey, authored by technology marketing companies
Concentrate and Swaytech, and sponsored by NZTE and PWC.
New Zealand technology companies (based on a representative
sample of 275 firms) continued to invest in sales and marketing, on
average spending 28% of turnover . Consistent with international
benchmarks, start-ups and early growth companies in the survey
investing 32%, spent significantly more than mature tech companies
Companies in the survey were still achieving stunning growth
rates, with respondents achieving an average 53% growth in annual
turnover, impressive against the backdrop of a weakening global
economy and our high exchange rate.
Examining what sales and marketing attributes correlated with
high growth amongst survey respondents showed four interesting
insights into how the typical Kiwi hi-tech company can further
improve their performance.
Improve your market understanding: high-growth companies have a
very strong understanding of their target markets, an
'outside-in' perspective critical to achieving strong
growth. The average company is too internally focused and
doesn't build a strong enough understanding of their target
Get better at developing market entry strategies: top
technology companies are confident in their ability to develop
effective plans for entering new markets. There is no hit and hope;
they have a clear view of the best way to attack a new market, a
confidence tightly linked to our first growth insight i.e. the more
information you have about your target market the more obvious the
Focus on the right attributes when selecting channel partners:
high-growth companies focus on the partner attributes that really
matter. In previous Market Measures surveys it has been shown that
using channel partners is correlated with high-growth for Kiwi
hi-tech companies, but the average firm was going it alone.
The insight from this year's survey was that 'partner
market knowledge' and the 'size of customer base' were
the attributes of a good partner that high-growth companies found
most relevant. High-growth companies were less concerned with
credit/financial stability and the strength of a partner's
Adjust the focus of your promotional approach: 91% of companies
felt it was important that potential customers were able to conduct
at least part of their buying process online (i.e. finding
information about their products and evaluating them), and 53% felt
this situation has become more common in the past 12 months.
In this online world the highest growth companies were taking a
different approach. Instead of using traditional marketing content
like flyers or brochures for their promotional activities, they
focussed on producing knowledge-based output like ebooks or
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
James & Wells Intellectual Property, three time winner
of the New Zealand Intellectual Property Laws Award and first IP
firm in the world to achieve CEMARS® certification.
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Interplay of technologies such as social media, cloud, analytics and mobility is changing the way marketing is done and the digitally savvy consumer is targeted using various mediums at any time of the day and everywhere.
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