Capterra’s 2024 Tech Trends Report: Insights From Marketers To Watch

61% of marketers will experience regret buying software—find out why.

In today’s modern marketing landscape, the adoption of new software and technology has become not only a choice, but a business necessity. That's why we take the pulse of SMB technology investment and adoption through an annual survey. This year, Capterra’s 2024 Tech Trends Survey included more than 3,400 respondents in nine countries and provides insights on the selection, adoption, and implementation challenges in business software purchasing.

This article takes a deep dive into the marketing vertical by analyzing data from 1,038 software purchasing decision-makers globally who work in marketing, advertising, social media, and publishing industries or roles.* Here are the top 5 trends we identified for marketing professionals to optimize their software investments.

Marketers are contending with dual challenges of economic downturn and finding qualified talent 

Looking into the year ahead, marketers anticipate frustrating external challenges, and two key themes emerge prominently — difficulty navigating the economy and finding the right talent. 

First, there’s a persistent struggle to find new customers, with 35% of respondents citing this as the top business challenge they are up against in 2024. Another 29% say they are similarly challenged by hitting marketing goals. 

According to the IMF, world economic growth will continue to slow in 2024.^[1] During economic downturns, competition for market share amplifies. Marketers are up against more price-conscious consumers all the while facing the challenge of maintaining or growing their customer base.

Second, the increasing need for a workforce that can navigate the rapid pace of technological advancement is expected to cause concerns among marketers. Nearly a third of marketing professionals indicate that training and upskilling employees poses a challenge heading into 2024. Concurrently, 29% express concerns about the task of finding qualified talent.

Further complicating the business landscape for marketers is the overnight explosion of disruptive, emerging technologies, like generative AI. The launch of ChatGPT, in particular, turned the marketing world on its head with the ability to transform many common marketing functions such as copywriting, A/B testing, and more. 

Although the potential benefits and opportunities surrounding new tech are exciting, our findings reveal a stark reality: it's a challenge to keep up. In fact, over a third (34%) of marketing professionals cite advances in technology as the primary external factor shaping their company’s business goals.

   Why this matters to marketers: Skilled talent possesses the knowledge and experience to harness the full potential of new software or technologies, enabling them to keep pace with the competition and innovate. Providing training for new and emerging technologies (such as artificial intelligence) can help your marketing team stay prepared—in fact, 83% of marketers have already adopted such tools.

Software buyers regret is common among marketers—learn how you can prevent it

While there are a wealth of resources and tools available to help learn about new software and make decisions, investing can have unexpected outcomes. 

Unfortunately, 61% of marketing professionals say they experienced remorse or regret for one or more types of technology they purchased in the last 12 to 18 months. 

Software buyer’s remorse can lead to negative consequences including diminished productivity, frustration, wasted time, security vulnerabilities, and financial loss. So how can you prevent it?

Buyers believe they can help mitigate regret by setting clear selection expectations for stakeholders and by establishing well-defined goals and desired outcomes for new software investments.

   Why this matters for marketers: Before investing in an exciting new software, make sure you can document factors such as: 

• Features you would consider essential

• Who the core users will be

• What tasks it will support

Additionally, take special consideration when it comes to security. Marketers rely heavily on data such as customer information, market insights, and campaign metrics, but it can be a struggle to keep all this information safe. In fact, 38% of marketing professionals say that security concerns are among their top three challenges when planning investments in new software.

   Why this matters for marketers: A data breach or cybersecurity attack can result in legal, financial, and reputational damage. Security software protects sensitive data and ensures marketing functions adhere to privacy regulations such as GDPR and CPA. Strong security measures are essential to protect customers, employees, and the overall success of marketing efforts.

By addressing these factors, your company can make well-informed software investments and set the stage for success in the year ahead.

Marketing software has the shortest ROI expectations

Marketers often work on campaigns that operate within budget constraints and have time-sensitive components. Consequently, they have high expectations for a software’s ability to demonstrate a positive ROI. 

Nearly a third (32%) of marketing professionals expect ROI within 6 months, tied with scheduling software for the most aggressive ROI timeline.

   Why this matters for marketers: While the fast ROI timeline may be a selling point when securing your initial budget, it also means the stakes are higher. By definition, you have less time to demonstrate effectiveness so it is critical that you choose the right product and that your implementation is fast and frictionless. When done well, marketing and scheduling software should streamline processes, add efficiencies, and improve time management.

Beware of unexpected costs and implementation changes

While marketers have their expectations set for when their software can demonstrate a positive ROI, it’s worth noting that achieving these results often hinges on careful planning and preparation. They should be cautious and mindful of unforeseen costs and implementation hurdles in particular. 

Among survey respondents, the top reasons for software purchase regret are that the investment was more expensive than they were led to believe or the technology was not compatible with their existing systems (both 36%). 

Unexpected costs and delays due to sluggish implementation can delay the achievement of ROI, disrupt day-to-day activities, and divert time away from other marketing initiatives.

   Why this matters for marketers: Planning for unexpected software costs and implementation time can help you ensure your marketing strategies stay on track. Before selecting software, conduct comprehensive research that factors in not just upfront subscription or licensing costs, but potential hidden fees or ongoing expenses. It is equally important to assess integration needs (which can also be costly). You may need to consult with your IT team or a specialist early on in the buying process. It also helps to be prepared for bouts of downtime that commonly occur when onboarding new technology.

Marketing software is huge in 2024

Despite these hurdles, marketing software stands out as a prominent category among software buyers in 2024.

Among all software buyers (not just marketers), marketing software is the second highest priority software investment for 2024 at 28%, behind only IT security (32%).

As the digital marketing realm continues to expand (e.g. the proliferation of online platforms, new tools, technology, etc.) companies are eager to harness software and solutions to reach their target audiences or grow their customer base. Likewise, marketing software provides the essential tools to collect, analyze data, and manage online customer interactions and campaigns.