As we move further into 2024, both market research and general marketing professionals are feeling the pressure to adapt to rapidly changing industry trends. Recent studies conducted by SurveyMonkey reveal similarities in the challenges and opportunities faced by the two closely related fields.
92% of market researchers are concerned about job security in 2024, a 29 percentage-point increase over last year.
Just as 92% of market researchers expressed concern about job security in 2024, an overwhelming majority of marketers, or 81%, shared the same sentiment—a significant increase from 53% of marketers in 2023. This heightened sense of job insecurity is being driven by a range of factors, including rising performance expectations, the accelerating pace of industry change, and intensifying competition.
To gain insights into the latest trends in market research, download our report, Market research in flux: 92% of MRX pros report job insecurity.
Despite these challenges, professionals in both industries remain optimistic about the future. A surprising 97% of market researchers and 94% of marketers are confident about the direction their respective industries are headed. This optimism is fueled by the belief that leveraging the right tools, technologies, and insights will be key to navigating the changing landscape, as our recent studies suggest.
New tech transforming the market research and marketing landscape
It may not come as a shock, but one of the most significant trends shaping both industries is the growing adoption of artificial intelligence (AI). In the market research sector, 36% of professionals rely on AI "a great deal," with another 59% reporting they are "somewhat" reliant on the technology. Similarly, 88% of marketers say they rely on AI in their current job, with 34% relying on it "a great deal" and 54% being "somewhat" reliant.
The widespread adoption of AI is being driven by its potential to uncover insights more quickly, generate content faster, and enable swifter decision-making. However, while both professionals in both sectors are at the forefront of AI adoption, their companies are often more hesitant to fully commit. Only half of market researchers (50%) and 56% of marketers say their organization is actively implementing and using AI, with the remainder indicating their company prefers to wait for more established solutions.
The tech adoption gap for market researchers vs. marketers
Another key trend impacting both industries is the increasing importance of data in decision making. In the market research sector, 92% of professionals say their companies rely on data for decisions, up from 81% in 2023. Similarly, marketers are turning to data to drive personalization efforts, with 55% saying their companies are prioritizing more personalized marketing experiences this year.
As both industries continue to evolve, success will depend on the ability to stay ahead of the curve and continuously innovate. By embracing new tools, technologies, and strategies, market research and marketing professionals can position themselves and their organizations for success in 2024 and beyond.
For an in-depth look at how market researchers are navigating challenges, and to gain insights into the strategies of leading MRX professionals, download our report, Market research in flux: 92% of MRX pros report job insecurity.
