New Zealand’s high-tech sector continued to show strong growth in the fourth annual Market Measures study, the results of which were released today.
“Respondents achieved a stunning average 53% growth in annual turnover, against the backdrop of a weakening global economy and our high exchange rate,” says Owen Scott, managing director of Concentrate, which organises the survey with fellow technology marketing company Swaytech.
New Zealand Trade and Enterprise and PwC are the principal sponsors of Market Measures 2012.
The survey results support the government’s view that the high-tech sector is a key part of the country’s economic future and should receive special focus, while highlighting that there are significant areas of weakness, Mr Scott says.
“The classic issues of New Zealand’s high-tech sector came through strongly – we are good at designing and developing innovative products but struggle to consistently find and exploit large markets for them.”
The highest performing companies in the survey shared some common characteristics.
“They tended to be very market focused, confident in developing market entry strategies, clear on what makes a good channel partner,” Mr Scott says.
He said successful companies are those embracing a move to online, inbound marketing and using non-traditional approaches to producing marketing content.
“A very clear trend in this year’s results is the rapidly growing importance of being able to engage with potential customers online, which represents both an enormous opportunity and a threat for our high-tech sector,” Mr Scott says.