Kiwis are making their mark in the technology sector this year with 54 companies being included in the Fast 500 index!
This is NZ’s best effort yet and Deloitte is helping celebrate their success at an event next Wednesday with special guest, Tim Norton, the CEO and Founder of 90 Seconds. Tim will be offering some insights into his company which is one of our country’s fastest growing tech businesses.
We will also be hosting Owen Scott from Concentrate who will share some findings from The Market Measures Report - a recent study of Kiwi tech companies that benchmarks their sales and marketing activity against similar businesses from the USA and the UK.
So far the report has produced some very interesting findings
It shows that 80% of US companies are now using activities such as email and social media as their primary source of leads compared to just 35% of Kiwi companies. In 2014 the figure for Kiwi firms was 23% and this year it increased to 35%, so while there is visible improvement there is a still a San Andreas fault-line gap.
The report also highlights that the biggest new weapon in the armoury of a marketer now is using ‘content’ to drive digital marketing activity. The survey found that 93% of benchmarked US firms say they use content marketing against 54% of Kiwi firms. So while the typical Kiwi tech firm is engaging with this concept, they’re not choosing their content weapons carefully enough.
It seems our tech firms tend to rely on more direct activities such as cold calling by the sales team or client referrals and while both are valid tactical approaches, they don’t deliver on the same scale that planned and sustained indirect lead generation campaigns do - especially those conducted online.
So where do the opportunities lie?
As predicted, the biggest opportunity for New Zealand’s technology exporters is for the sales process to become increasingly ‘digital’. For example, buyers researching their options, finding, evaluating and even buying technology solutions online. It’s an enormous opportunity, but also a significant challenge, for our remote nation.
So while New Zealand tech firms are ‘digitising’ their selling process at a faster rate, they still turn up in markets like the USA poorly armed for the battle.
This is off the back of the “lone wolf” model which was identified in the 2014 Market Measures study, where talented sales people take on most of the sales and marketing efforts for the company. In light of these findings it seems the key to indirect marketing effectiveness is again taking a ‘digital’ approach, using key information to attract and convert leads. While Kiwis are adopting this marketing weapon quickly, they are still ill equipped in comparison to their USA counterparts.
Read related article here