If businesses learned anything from surviving Covid-19, it was the ability to adapt in an ever-changing world. Tech is moving faster and automating businesses better than ever before, allowing them to reach peak optimization.
Software giant Capterra conducted their SMB Tech Trends Surveys for 2022 and 2024. They reported the figures below for SMBs switch to new and better tech:
Areas that SMBs pivoted to within their adoption of new tech include advanced cybersecurity software, AI, and VR.
Another tech trend that Capterra reported on this year is that while small and medium-sized businesses (SMB) are switching to new tech at a high speed, the sense of buyer’s remorse after investing in that new tech is rising rapidly as well.
So, why the regret in investment?
The three reigning reasons for regret are reported to be poor after-purchase support and higher-than-expected ending costs, and an insufficient ROI.
Capterra breaks it down numerically by reason below:
What does all of this information mean for YOUR business? Here at Oppuous, we are all about providing you with the most seamless experience possible when it comes to investing in better tech for your business. This includes sharing knowledge that can help you be proactive, rather than reactive when it comes to adopting new tech, hopefully saving you buyer’s remorse in the process.
Here are 5 things you can do to prevent tech buyer’s remorse:
- Subscription Cost ≠ Software Cost: Cybersecurity software is often advertised as a subscription based monthly price point. This catches business’s attention, as it seems affordable for the quality. It’s likely a business has a tech budget, and figure this monthly subscription into that budget. But, once they are walked through the sales pipeline of the software, all of a sudden it is out of budget because of implementation, training, support, and maintenance. Ask for these prices up front to avoid surprises down the road.
- Don’t Let Your IT Dept. Make The Sole Decision: Most IT departments in SMBs handle the entire new tech adoption process, from research to purchase. However, even though they may know what tech is best for the company, sustainable cost isn’t at the forefront of their priorities. Other superiors of the business should have a spot in the entire process as well to ensure a well-rounded choice.
- Free Demos and Trials Are Your Friend: Most are 7, 14 or 30-day free trials. After that amount of time, you are charged, so make sure to take advantage and thoroughly explore and utilize the software to see if it fits your business’s needs well and that it’s worth its money.
- Have a Clear Vision For Your New Tech: Don’t just go with what’s working for the Jones Company down the street. You need to take into heavy consideration what exactly you want your improved tech to do for your business; how it can improve employee productivity, streamline or automate certain tasks, or what goals you have for the tech to help your business.
- Think Big-Picture: With your business’s needs and goals in mind, there may be a multitude of different software or platforms that can meet those needs and help you reach those goals. Don’t pinpoint one or two programs right away in the search process. Keep an open mind, ask trusted colleagues, and do thorough research.
All in all, 2024 looks to be the fastest year for tech yet. SMBs are still going to invest in new and better tech in order to stay ahead of the game. SMBs are willing to spend a large amount short-term to surpass competitors in the long run.
If you’re ready to level-up your tech for your business, but want to do it thoughtfully, schedule a time with one of our expert tech advisors today: https://letsmeet.io/oppuousllc/30-minute-consultation.
