Did you know that the average US household has more TVs in it than people? Or that the US spends $581 billion on defence annually?
In addition to having the world’s largest military, national economy and annual oil output, the US also hosts six of the world’s top ten tech companies measured by revenue.
Aside from these fun-facts, there are several important factors that all B2B marketers and communications professionals should know when conducting, or planning to conduct, B2B inbound marketing and PR in the US. Here are five of them:
1. The US makeup
Bordering both Mexico and Canada, the US consists of 50 states. The nation’s population sits at 318.5 million people (the world’s third most populous country), with a life expectancy rate of 78.84 years. The US has grown to become the biggest economy and arguably the most influential country in the world.
2. The economy
The Gross Domestic Product (GDP) of the US was 17.5 trillion US dollars in 2014. In comparison, the second largest economy in the world was China, with a GDP of 10.3 trillion US dollars. Still, the debt of the US summed 16.5 trillion US dollars in 2013.
3. The tech sector
The tech sector is one of the most flourishing sectors in the US. For example, Apple owns more operating cash than the US. government. Average spending in the US tech sector is more than 680 billion US dollars annually. In 2014, most of the money in the tech sector was spent in the hardware sector (with a share of 36.6 per cent), followed by the service sector (with a share of 35.1 per cent). The US was also the country with the second highest number of Internet users in 2014, with 269 million users. The research institute eMarketer predicts that by 2018, 185.5 million people will buy goods and services online.
4. The key players
In the US, three of the top 10 companies by market capitalisation are tech companies: Apple, Microsoft and Google. If you think one can make a lot of money in the US tech sector, you are absolutely right. According to Forbes, the five richest people in the tech sector (estimated by net worth) are: Bill Gates (USD 79.2 billion, Microsoft), Larry Ellison (USD 54.3 billion, Oracle), Jeff Bezos (USD 34.8 billion, Amazon), Mark Zuckerberg (USD 33.4 billion, Facebook) and Larry Page (USD 29.7 billion, Google).
According to Statista (US census bureau,) the revenue of public relations agencies in the US is projected to reach USD 12.87 billion in 2015. The highest tech publication concentration is in New York, San Francisco and Boston.
If you are considering entering the US tech market or doing B2B tech PR in the US, you may be interested in reading March Communications’ tips for helping UK B2B tech brands engage US media. In addition, you might like to download our free eBook on building a global PR operation below.