Gurugram, Haryana, India:  With an aim to delve deeper into the world of SaaS and explore forward-looking strategies for Indian SaaS companies to navigate the uncertain economy, Gartner Digital Markets recently organised the Insights Summit. The Summit was an invite-only event featuring 50 India-based SaaS leaders in the Millenium City of Gurugram, Haryana. It welcomed a host of notable industry leaders, including Ken Allard, Gartner Chief Marketing Officer and Executive Vice President of Gartner Digital Markets, Partha Iyengar, Gartner Vice President Analyst and co-founder of Gartner India, along with Narayan Adeeb, VP-Digital Markets, DMC India Operations. Also present were Pit Rissiek, Area Vice President of Sales at Gartner Digital Markets, Reetesh Pandey, Performance Marketing Director at Whatfix, and Arun Natarajan, Vice President of Marketing at Xoxoday along with several other expert analysts, stalwarts, stakeholders, and entrepreneurs of the Indian SaaS ecosystem.
 
The one-day conclave focused on the theme of “Finding growth in uncertain times” by shining the spotlight on growth opportunities and challenges in the new economy. The aim was to equip entrepreneurs with the right knowledge and insights to navigate the ever-evolving harsh market conditions and build profitable, scalable businesses of the future. Besides the opportunity to network with like-minded leaders, the event also provided a platform for Gartner Digital Markets to unveil exclusive new research on today’s software buyer mindset.
 

Key insights discussed in the Gartner Insights Summit included:   The majority of software buyers experience regret for a purchase: 60% of buyers have experienced regret within the past year concerning one or more of their software purchases. This underscores the importance of effective communication and robust post-sales procedures to proactively mitigate such instances of regret. Buyers more often than not purchase from an original list: A remarkable 96% of buyers commence their search with a curated list of prospective software providers. Moreover, 86% typically make their purchases from this very list. This list is remarkably exclusive, with an average of 4 software providers on the list. Software providers must find ways to reach buyer awareness enough to be included in this list. The significance of customer reviews in the purchase journey: Customer reviews serve as a vital asset in compiling potential software vendor provider lists. One in three (33%) buyers depend on customer reviews when evaluating their purchase decision – the joint-highest information source alongside product trials. This underscores the necessity of dedicating resources to gathering and assessing testimonials, ratings, and reviews. Software providers are being asked to do more with less: In an uncertain environment, prioritize resources to the most promising initiatives. 75% of CMOs say they face pressure to achieve more with fewer resources. Additionally, fostering SaaS communities to enable knowledge-sharing and mutual support among leaders can help drive collective growth.

Sharing his views on the summit's success, Ken Allard, Chief Marketing Officer and leader of Gartner Digital Markets, said: “At Gartner Digital Markets, our focus is to help organizations accelerate their growth by embracing the right software and services. With our four brands, Capterra, GetApp, Software Advice, and UpCity, we make up the largest digital marketplace in the world.” He added, “We are excited about the future opportunities for collaboration and innovation within our digital marketplaces, underlining the dedication to facilitating informed software decisions and enabling organizational growth.”