When I worked as a Marketing Manager for a tech company, the CEO wrote a blog post about the company's quarterly update. I appreciated this approach as it provided transparency and an overall company update that communicated more than just the usual posts that companies make. It also gave people who were interested a chance to learn more about us. I plan to follow in her footsteps by providing these quarterly status updates in blog post formats, and I would like to express my gratitude to my former CEO. Having said this, I’m super excited to share with you our journey as a company and all the achievements that we have accomplished this quarter. Let's jump in from the beginning.
Months of preparation & testing, a unique pricing model that resulted to affordable market research
We spent 9 months planning, conducting market research, performing mystery shopping, and developing a pricing strategy that would make market research affordable for SMEs. This was a challenging task, as we analyzed numerous research and consultancy companies across Europe and North America, from big players to the smallest agencies. We compared their methodologies, tactics, and strategies used in market research until we figured out how to make our services accessible for smaller companies. Our aim was to provide them with top-notch market research for an affordable price, using the best methodologies and tactics, and selecting the best third-party vendors for our samples and panels. Enäks was officially launched in early January this year, and since then, we have been open to business, providing SMEs with a one-stop-shop for research and marketing expertise.
Enäks’ first Tech Industry Report for 2024
In early January of this year, we published our first major report, which focused on the tech industry. This was due to the fact that we have extensive expertise in this field and there had been a lot of buzz and anxiety about the direction in which the industry was heading.
Here are some of the key highlights of our report:
1. Global IT Spending Surge: It is set to reach $5.1 trillion in 2024, a rise of 8.8% from 2023.
2. Europe's Growing IT Market: It is predicted to reach $1.1 trillion, an increase of 9.3%.
3. IT Project Priorities: The focus will be on cost management, process optimization, and automation.
4. Segments to Watch: There is significant growth expected in software and IT services.
5. Vendor Reevaluation: 87% of businesses are considering switching IT vendors.
6. Talent Recruitment Challenges: 63% of tech leaders are finding it difficult to find skilled IT professionals.
Our report not only presented statistics, but also provided actionable insights for tech vendors. We included detailed and practical managerial implications that ensured tech vendors not only followed global trends but also took the lead in these trends. This was, of course, only possible for those who had the opportunity to incorporate this data into their annual planning at the start of the year. If you've missed our Tech Industry Outlook for 2024, click the link and get the report.
Taking position and standing with EU Framers - United by one purpose
When the EU regulation struck the farmers across the EU, we took a firm stance without hesitation. We officially declared our support for farmers across the EU who were affected by the unfair EU regulations and promptly created a solidarity package for them. This campaign is still ongoing, and as we stated a few months ago, it will continue until the farmers' demands are met. I strongly believe that it is important to take a firm action and stand with our fellow farmers, as failure to do so will have direct or indirect consequences for all EU citizens.
Enäks is a Top Market Research and Marketing Strategy Company in Hungary 2024
Although we are a new company, our extensive experience has not gone to waste. In just three months, Enäks has become one of the top three market research companies in Hungary according to both Clutch and The Manifest. We have also been ranked among the top seven marketing strategy firms in Hungary and Budapest by Clutch and The Manifest. Moreover, we have been recognized as one of the top 300 market research companies for IT services and healthcare providers globally in 2024 by Clutch. Our next goal is to become the number one company in the country by the end of this year.
Hobby that became an internal tool, the tool that became public GPT
I have been using ChatGPT since day one and after just three months of use, I decided to upgrade to the premium version. The advancements in AI technology have fascinated me and I have become passionate about its capabilities, which continue to impress me on a daily basis.
When the GPT marketplace was announced a few months ago, I was excited to build several GPTs to enhance my work further. After several rounds of A/B testing and configurations, one of our GPTs became public, called NOVA AI powered by Enäks. It is a personal marketing assistant that specializes in market research and competitor analysis, providing users with a comprehensive overview of their market or sector. It also offers marketing budget allocation, best practices, and frameworks for those who are not marketing-oriented.
New AI experiment that will be public soon
Nova AI was just the beginning. Since GPT was made public, I have been continuously building upon the tool and testing different modules. I hope that one day, we can pilot this project for the public on our website. However, the current blocker is financial, and we need to increase our revenue as a company to make this a reality for the public. Currently, we are using it only internally and still testing it to reduce its error margins to the minimum acceptable criteria. A significant portion of my attention is focused on this project. I believe that if we can externalize this tool, it has the potential to become the go-to place for marketers and business owners who previously found market research cost-prohibitive.
What’s next?
I never imagined that in just two and a half months, our team could achieve so much in such a short time. We are a highly dedicated team with great expertise, a huge competitive spirit, and a lot of passion for our work. Maybe that's why we were able to accomplish so much in such a short time.
Although Q2 has just begun, we already have a few industry recognitions under our belt, but there's more to come in the next quarter. As we continue to grow as a team, new opportunities will arise, and our impact will be even greater. We won't stop until we fulfill our mission of providing SMEs with a powerful advantage to compete with giants by offering quality but affordable market research and marketing services that blend short-term and long-term success, just like the equinox (which is the origin of our name) blends all four seasons.
If you resonate with what we do, please follow us on our social media channels to stay up-to-date with the latest market trends, or contact us at contact@enaks.io if you're interested in boosting your marketing and business goals. Until the next quarter: prepare, transition, harvest!