Market Research

Explore our findings on the latest marketing and IT trends, business gaps, and emerging
demands to understand how we can address your specific challenges.

Market Research Insights: First Half of 2024

Objective:

Provide businesses with a comprehensive analysis of 2024’s marketing and IT trends, highlighting key challenges and potential solutions.

Scope:

  • Marketing and IT trends
  • Business gaps and common issues in both fields.

Common Marketing Challenges
Businesses Face in 2024

Inadequate Digital Transformation

Data Point:

45% of businesses report they are struggling with fully implementing digital marketing strategies due to limited resources or technical expertise.

Challenge:

Many businesses still use outdated methods and are slow to adapt to new tools and strategies, resulting in missed opportunities.

Difficulty in Measuring ROI

Gap Insight:

While businesses are investing more in digital marketing channels, 40% struggle with measuring the ROI of campaigns. Attribution remains a key issue as businesses use multiple touchpoints.
40%

Budget Constraints

Fact:

Businesses, especially SMEs, often struggle with allocating sufficient budget for comprehensive marketing strategies, leading to reliance on outdated or ineffective tactics.

Gap:

A lack of resources to invest in critical tools such as CRM systems, paid advertising, and advanced analytics.

Content Saturation and Engagement Decline

Issue:

With 2X more content being produced every day, businesses face a challenge in standing out and maintaining audience engagement, particularly on social platforms.
2X

Fragmented Customer Journeys

Challenge:

Businesses struggle to unify customer data and deliver cohesive, personalised experiences across multiple channels. Thai results in a 36% decrease in operational efficiency.
36%

Common IT Challenges Businesses Face in 2024

Insufficient Cybersecurity Protection

Data Point:

Cyberattacks rose by 37% in the first half of 2024, with ransomware being the top threat.

Challenge:

Businesses often fail to invest in strong cybersecurity solutions, leaving them vulnerable to data breaches.

Data Management and Integration

Issue:

As businesses collect increasing amounts of data, many struggle to integrate and analyse it effectively. This can lead to missed opportunities for insights and decision-making.

Lack of Skilled IT Professionals

Gap Insight:

There is a significant shortage of IT talent, particularly in fields such as AI, cloud computing, and cybersecurity.

Challenge:

Businesses are unable to keep up with innovation due to a lack of qualified personnel to implement and manage advanced IT solutions.

Legacy Systems

Problem:

Many businesses are stuck with outdated legacy systems that are difficult to modernise and integrate with newer technologies.

Gap:

A lack of budget or a proper roadmap to transition from these systems creates inefficiency and limits growth.

Lack of Skilled IT Professionals

Gap Insight:

There is a significant shortage of IT talent, particularly in fields such as AI, cloud computing, and cybersecurity.

Challenge:

Businesses are unable to keep up with innovation due to a lack of qualified personnel to implement and manage advanced IT solutions.

Summary:

This research shows that while technology and marketing are rapidly evolving, businesses often struggle with adoption, talent, and budget constraints. By addressing these gaps, businesses can unlock significant growth potential.

Recommendations

For Businesses:

Invest in cybersecurity, AI/ML expertise, cloud solutions, and marketing automation tools.

For SMBs:

Leverage low-cost tools that provide high ROI, such as targeted marketing automation, cloud IT infrastructure, and data analytics platforms.

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