What are Tech Challengers? Linkedin Research on Tech Challengers
Tech Challengers is a new and strange term for many Marketers in Vietnam. However, in the world, more and more such companies are pouring billions of dong into marketing to improve their influence and compete with big technology companies and corporations. Therefore, this target group can be very potential for companies providing marketing services.
The following article will learn about What is Tech Challengers? and LinkedIn’s research on Tech Challengers!
1. What are Tech Challengers?
Tech Challengers are defined as small and medium-sized technology companies that want to grow into large technology companies, expanding their scale and influence.
Tech Challengers are characterized by ambitious, mid-range B2B technology companies looking to scale quickly and operate in highly competitive markets. With early-stage investment, good-growth tech companies are looking to emerge, attracting more resources.
They surveyed more than 200 experts from the field of Marketing, mainly managers and CMOs of businesses. LinkedIn’s report will help visualize and understand the relationship between Tech Challengers and digital marketers.
2. LinkedIn Research Data on Tech Challengers
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About Tech Challengers
LinkedIn released a report showing that Tech Challengers spend between 31% and 60% of their marketing budget on digital marketing, with an average of 44%. That equates to $57,900 per month, with 67% of brands in the segment spending between $10k and $100k.
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Budget spending activities
Much of that budget is spent launching products and finding ideas for growth to build a company profile (brand awareness) that falls within the top big businesses.
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Challenges with the marketing of technology companies
Regarding key challenges, these companies still need to work on maximizing conversions, with 70% of marketers choosing ‘converting engagement to sales’ as their biggest issue.
This is quite common. Getting people to like and comment on a post is often easier than getting them to take action, contact a brand, and purchase a product or service. That has long been a baffling factor in digital marketing, with some brands hiring people who are good at generating engagement but could be better at optimizing sales.
The above are things marketers should know about Tech Challengers, which can be affirmed as a potential group to pour money into marketing. Still, it is challenging to please because it is difficult to convert from simple interactions to specific purchase actions. This places greater demands on these agencies and technology companies to market their products.
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