As a consequence, almost half are said to be ready to invest in making improvements in 2023, according to new research from Studio Graphene.
The survey found that of 754 senior decision-makers from within UK businesses 66% think their digital platforms are effective in explaining who they are and what they do, although 44% said that their digital platforms do not do justice to the quality of the product or service they offer.
In addition, more than half (52%) of UK businesses believe their competitors have better customer-facing tech than they do.
Looking ahead the survey found that 46% of decision-makers said their business plans to update, refresh or completely recreate its digital platforms in 2023, but that they lacked the necessary skills.
The survey found that 65% thought that they lacked the skills to deliver their plans, with 48% reporting a “damaging” lack of digital skills within their business.
Additionally, 65% worry the recession, high inflation and rising interest rates will prevent them from investing in customer-facing tech next year.
Commenting Ritam Gandhi, founder and director of Studio Graphene, said: “Despite the rush to embrace digital transformation in recent years, clearly many businesses remain unhappy with their websites, apps and customer-facing tech, leaving them envious of their competitors. It is a common issue, and that almost half (46%) of companies plan to invest in revamping their digital offering in 2023 is telling.
“Crucially, however, our research exposes two significant obstacles: the current economic climate and the digital skills crisis. With tight budgets and limited internal expertise, businesses must be extremely savvy in the way they plan and execute digital projects next year.”
According to Gandhi while creating great digital products needn’t require huge investment, it does require a razor-sharp understanding of the user and how businesses can capture their attention.
In truth less is more and as long as businesses understand their users’ needs, they will be able to create compelling platforms that make them stand out, despite what are challenging times.