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What’s behind the success of top kiwi tech businesses?

What’s behind the success of top kiwi tech businesses?

THE 2018 MARKET MEASURES SURVEY IDENTIFIES 9 HACKS TO HELP KIWI TECH COMPANIES GROW

14 November 2018. The 2018 Market Measures survey has found that Kiwi high growth companies have 40% more sales people than non-high growth companies, across all company sizes. The annual Market Measures survey is a joint initiative of Concentrate and Swaytech and seen as a critical piece of research by leading New Zealand technology companies. Over 300 individuals from around the country and across the tech sector took part in the 2018 survey which has been supported by NZTE.

Owen Scott, Managing Director of Concentrate says this is one of the 9 key insights the survey uncovered, and in the Market Measures report we have taken the results and distilled them down into 9 growth hacks to help tech businesses grow.

“What we do at the beginning of every Market Measures survey is ask: how can we gain some actionable insight out of this, The idea is to give Kiwi technology companies useful information for planning their sales and marketing strategies.’’ Says Scott

‘’The report enables a tech company CEO or founder to inspect and tune their marketing and sales teams, applying best practice learned from those companies who exhibit mastery. Clarity on how New Zealand tech companies operate in comparison to the US, and how you can translate that into action is also invaluable,’’ says Terry Allen, Global Head of Technology Sector, New Zealand Trade and Enterprise.

“Growing a tech company is tough. Marketing and sales are critical to the successful growth of any business, but especially for those in the tech industry. The idea behind Market Measures is to share the lessons of growth amongst New Zealand technology companies as marketing is often seen as our achilles heel. This year we’ve identified what the best Kiwi and US companies are doing to ‘hack’ growth so that others can learn.” Says Bob Pinchin, CEO of Swaytech

Report summary

Broken down into 3 key categories – Marketing, Sales and Customer – the 9 growth hacks include improved alignment between sales and marketing, the need to step up onto the international stage, making better use of technology and making sure sales teams have the right tools to ensure they’re effective and efficient.

Growth hack 1: Marketing in tech companies needs to step up. Sales are carrying too much of the responsibility; there needs to be better alignment between the teams.

Growth hack 2: It's a big world out there. Kiwi tech companies need to focus on grabbing a slice of the international market and early in their lifecycle.

Growth hack 3: A comprehensive website is essential for any business and especially those in the tech industry. Yours needs to be the central hub of your marketing strategy.

Growth hack 4: Your website needs comprehensive, dynamic content that engages your target audience.

Growth hack 5: You're a tech business, so use technology. Marketing automation is key to improving efficiency and data visibility and supporting your other marketing initiatives.

Growth hack 6: Do you understand your customer acquisition funnel? Knowing how people find and buy your product and services is essential.

Growth hack 7: Making use of technology again! - it's all about improving the efficiency of your sales team.

Growth hack 8: You need more sales people, and the tools to help them become effective and efficient.

Growth hack 9: It's all about making the customer experience as positive and successful as possible. It’s far more cost effective to keep the customers you’ve got than go hunting for new ones.

These marketing, customer and sales growth hacks were identified by benchmarking the 2018 survey data against two groups:

• A subset of high-growth NZ companies that participated in the 2018 survey

• Similar report data from the US

The report on the survey also looks at data based on:

• Location - the geography of those surveyed

• Type - what kind of business are they?

• Size - what's their turnover?

• International markets - where are they exporting to?

ends


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