A recent study conducted by onebite delves into the perspectives of tech marketers in 2024, shedding light on the dual sentiments of hope and concern within the industry.
The focus of anxiety lies in the proliferation of Generative AI (GenAI), while a substantial number of UK businesses are optimistic about an upswing in marketing expenditure.
Growing Apprehensions Surrounding Generative AI
The Tech and Telco B2B Marketing Barometer 2024, commissioned by onebite, exposes the apprehensions of decision-makers in large businesses regarding the impact of Generative AI. Positioned alongside concerns about inflation, costs, and economic uncertainty, GenAI has emerged as a prominent challenge. This technology, capable of generating various content forms and analysing data, is perceived as a double-edged sword, promising cost savings and enhanced products but also introducing new risks that demand careful management.
Kiri Craig, Managing Partner at onebite, explains, “While GenAI holds the potential for cost efficiencies and improved services, its implementation raises security risks and the potential for data silos. Businesses will need to navigate these challenges to harness the benefits effectively.”
Optimistic Signs Amid Challenges
Despite concerns, the Tech and Telco sector reveals a positive outlook. The report indicates that 61% of decision-makers anticipate an increase in brand spending in 2024. Particularly noteworthy is the Telecoms sector, where 88% of decision-makers view marketing as a top priority for the year.
Kiri Craig further notes, “For many in the Tech and Telco space, 2023 was a year of survival, impacting marketing consistency. However, 2024 is seen as an opportunity to regroup, refocus, and rebuild that consistency. Marketers are keenly focusing on maximising productivity, spending judiciously, and refining processes to achieve commercial success.”
In an era where customers seek human connection and understanding from brands, the study underscores the importance of aligning business values and approaches with these expectations. As the landscape evolves, businesses are poised to navigate challenges while capitalising on the potential growth opportunities.
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