What makes our Technology 200 so profitable? While there's no single recipe for success, we can all learn from what these companies do. Let's take a look at what our applicants had to say about marketing, ROI, funding and the economy at large.
Over 50% of the applicants don't do any traditional advertising at all, which is a testament to the fact that we're moving on to new media, marketing and advertising. Interestingly, not one company spent more than 50% of its marketing budget on social media. We can take from that fact that either companies are slow to invest in social media, or the costs are significantly lower than other forms of marketing.
It's interesting that 25% of those surveyed spent over half of their marketing budget on tradeshows. All other marketing segments had at least 10+ companies that spent over 50% in that category.
This wasn't a question on our application, but it is still interesting information. For example, 82% of the companies included PR in their budget, while 18% didn't spend any money on it at all. Direct marketing and traditional advertising had the largest number of companies who didn't invest in them period.
This chart illustrates the return each of these marketing tools generated. For example, if a company spent $1000 on SEO efforts, it would expect to get back $2420.
20% of the applicants received 200% or more ROI in using email marketing and SEO. Notice that email marketing gets the highest ROI, yet only 67% of the companies use it, and on average it represents less than 10% of their budget.
Only 70% of the companies use a blog, yet a blog has a ROI Of 120%.
Astonishingly, 60.2% of the companies in the Tech 200 did not receiving funding. This is amazing considering the heavy competition tech companies receive from VC-backed competitors.
84% of the companies are profitable.
94% expect to hire more people in the next 12 months.
71.5% expect to the economy to get better.