With optimism the highest it's been in five years, Channel leaders are focusing on the areas that matter, including embracing innovation, enhancing the customer experience, and attracting and retaining the right talent. It’s promising to see that these factors remain top of mind, in line with the introduction of a Total Experience strategy to achieve consistency across their organisation and create a better experience for stakeholders.
Like many industries, AI is transforming the ways that Channel companies improve their operational efficiencies, with 82% of respondents stating that AI would positively impact their business. However, when it comes to leveraging AI, it fell much lower down the priority list as only 74% stated that they were already adopting AI in their own business strategies.
With this in mind, Agilitas asked respondents how confident they were in their organisation’s ability to balance company culture with emerging technologies. Despite the inevitable nervousness within the workforce, Channel leaders ranked their confidence at 7.8 out of a possible 10. Interestingly, 96% of CEOs surveyed were confident, with 48% scoring a maximum of 10 out of 10. However, this fell significantly at other employee levels, with only 46% of junior managers sharing the same level of optimism.
Disconnects between CEOs and their workforce were noted across a number of factors, including delivering a superior customer experience and Channel companies’ ability to achieve a positive workplace culture. This disconnect can stem from communication gaps, differing perspectives on company goals and lack of transparency, which re-emphasises the importance of having a clear company strategy and values that employees can relate to.
The Channel has been focusing on driving its sustainability efforts for many years, but the question remains, is progress going fast enough to meet changing consumer expectations and ambitious Net Zero goals? Whilst over 77% of companies stated that sustainability will be a focus for the next 12 months, less than 1 in 5 are calculating their full carbon footprint across scopes 1,2 and 3.
“It is becoming increasingly difficult for Channel companies to prioritise their efforts, with increasing pressures related to emerging technologies, resilient company cultures, sustainability initiatives and the customer experience. Despite this, it’s promising to see many Channel leaders starting to put their strategies into action, and keep pace with the market changes. Our 2024 Channel Trends report aims to help businesses identify the biggest gains, what strategies are being prioritised, and most importantly, whether enough is being done to prosper,” commented John Hayes-Warren, CEO of Agilitas.
In partnership with leading research firm, Censuswide, Agilitas surveyed 250 respondents working in UK-headquartered Channel businesses, with an annual turnover of over £5 million. The report is designed to give Channel leaders insights into the current market trends, to aid their decision-making and strategies.
