Today, Gartner Digital Markets, the world’s largest software and services marketplace, released its 2024 Global Tech Trends Survey at SaaStock Dublin. The survey of over 3,400 global software buyers revealed a staggering 60% experienced regret after their purchase, underscoring the challenges for businesses making technology investments.
Nearly a quarter of regretful buyers (24%) canceled their contract and a third changed software vendors. To prevent financial losses, it’s crucial for vendors to immediately respond to requests and provide enhanced implementation assistance—measures that 49% and 46% of software buyers say would alleviate their regret, respectively.
“Software buying isn’t just a transaction; it’s a strategic choice aligning with business objectives,” says Thibaut de Lataillade, Global Vice President of Product, Gartner Digital Markets. “The large number of buyers rethinking their software decisions indicates a market gap, and we’re aiming to bridge this gap with our insights to help businesses grow.”
Mitigating regret before it becomes churn is essential. To do this, companies must build credibility with verified reviews, empower sales teams and buyers, identify warning signs of potential regret during the sales process, and prioritize post-sales communication. SaaS companies aren’t just selling a product, they’re selling a customer experience.
De Lataillade will present his keynote, “Why Software Buyers Experience Regret: Your Key to Maximizing Acquisition and Avoiding Churn,” on October 18 at 14:40 IST at the SaaStock Scale Stage. The session will expand on new buyer intent data and software buying behavior insights to help SaaS companies understand their customers.
Software vendors looking to reach their customers can take advantage of the Gartner Digital Markets’ platform which offers access to more than 100 million annual in-market buyers, exclusive buyer insights, and social proof content, including verified user reviews.
Read the ebook to find out why software buyers experience regret and how to combat it. For tools and additional resources, visit Gartner Digital Markets.
About Gartner Digital Markets
Gartner Digital Markets is the world’s largest software and services marketplace. More than 100 million people visit Capterra, Software Advice, GetApp, and UpCity across over 70 localized sites every year. Thousands of B2B companies work with Gartner Digital Markets to build their brand, capture buyer demand, and grow their business.
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