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Research by digital solutions platform HubSpot suggests that the introduction of artificial intelligence (AI) has compelled three out of four Australian businesses to alter their operations significantly. Findings indicate that businesses have faced more transformation within the span of just four years than in the preceding two decades.
Among Australian businesses, 71% of their sales leaders report being compelled to magnify their output without corresponding increases in resources. These changing expectations have led to a more significant focus on customer engagement, as highlighted by 88% of sales leaders, despite the inherent difficulties in finalising deals and ensuring customer satisfaction.
HubSpot has responded to these challenges by devising additional AI-powered tools called Content Hub and Service Hub. As HubSpot's Senior Marketing Director APAC, Kat Warboys, remarked, these innovative technologies aim to facilitate content creation and management and enhance customer assistance and retention. Warboys noted that successful businesses in the current climate must excel in "effectively engaging with their audiences across multiple channels."
While Australian businesses appear more inclined towards feeling strained to do more with less, 70% concur that AI has necessitated significant alterations to their existing operations. Conventional growth strategies require revamping, largely due to factors like rising business costs and evolving customer expectations. Achieving business success in 2024 predominantly hinges on providing tailored and streamlined customer experiences.
Warboys further explained that the obstacles posed by proliferating customer channels and demands for more personalised content have led several marketing teams to struggle in their outreach efforts. As a result, HubSpot's Content Hub — a one-stop marketing solution — is designed to help businesses "remix" their content across different channels.
Endorsing the effectiveness of the Content Hub, Colm Walsh, Managing Director at Swimming Pool Kits Direct, asserted that the use of the tool reduced content repurposing time by 60%. Furthermore, the company registered a remarkable 150% year-on-year growth in returns from organic content.
Alongside acquisition, small and medium businesses (SMBs) must also concentrate on business retention and enhancing the consumers' experience. HubSpot's Service Hub allows for efficient customer support and success functions within one platform. Archipro's Head of Platform Success, Catriona Hay, underscored Service Hub's enabling capabilities by noting that the new support ticketing system led to savings of nearly half a million dollars per annum.
The business landscape has transformed enormously, enforcing changes to occur within days and weeks rather than years. Warboys concluded that while each transformation might seem daunting, access to appropriate tools could empower businesses in harnessing such change, keeping pace with consumer needs and successfully connecting with their target market.
