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8 Insights from the 2024 G2 Buyer Behavior Report

Data-Driven Intelligence, Expertise & Innovation, Trends| Views: 59

To succeed in the world of B2B software, it’s crucial to understand how buyers think and make decisions. The 2024 Buyer Behavior Report from G2 has dropped a collection of insights, revealing how AI, trust, security and buying preferences are changing the game. As software vendors face new challenges and higher expectations, these insights will help you understand what buyers really want – and how to win their business.

Let’s look at the 8 biggest takeaways from this year’s report and how they can shape your strategy for success.

1. AI is Fueling a Software Spending Surge

The future is AI – and it’s here, driving a massive boost in software spending. 52% of buyers are planning to increase their software budgets next year, and it’s no surprise that AI is the primary driver. With 56% of buyers investing in AI platforms within the last three months alone, businesses are investing big to harness AI’s power to supercharge productivity and innovation.

“We’re at the point now where vendors are accelerating the development of AI products that can make a real difference – but buyers want to see ROI and are expecting it to have a big outcome.” – Bryan Brown, GTM Partners

2. The Stakes Are Higher: A Tougher Sales Environment

Although the dollars are there, getting them is harder than ever. The buying cycle is longer and more scrutinized, with 49% of buyers now only considering 1 to 3 products (up from 33% last year). Buyers are wary, and your job is to prove value quickly. As Scott Brinker of Chiefmartec warns, there is “added pressure for vendors [to] differentiate and showcase their value, fast.”

3. AI Is No Longer Optional

AI is a deal-breaker. Buyers are demanding AI in virtually every type of software. From CRM to customer support to marketing, AI functionality is critical. A massive 94% of buyers are already using AI-powered solutions in areas like sales, customer service and data insights. If your product isn’t leveraging AI, you’re already behind the curve.

4. Trust Is the Ultimate Currency

Buyers are increasingly turning to peer reviews – with 31% of them trusting independent review sites more than vendor marketing. Peer recommendations, transparent reviews and honest feedback are now the gold standard. As buyers shift their reliance from vendor promises to authentic peer voices, transparency is more important than ever.

5. Security Is Non-Negotiable – but Buyers Are Cutting Corners

Security is top of mind, with 81% of buyers factoring in a vendor’s history with security breaches before making a purchase. Yet, 48% of buyers still go ahead with purchases without conducting proper security vetting. The pressure to move fast can sometimes overshadow security concerns – especially for AI-driven solutions. The urgency to make decisions often leads buyers to bypass ambiguous or unknown vetting processes when quick action is required.

6. Buyers Want Control: Self-Service Dominates

Buyers are in control more than ever. A whopping 83% of them prefer to self-serve during the discovery, research and evaluation stages of their purchasing journey. But even the most independent buyers still want to engage with a vendor at key moments. 34% of buyers find vendor involvement most useful during the research phase, so don’t think they don’t want to hear from you – they just want it on their terms.

7. Service Providers Are the Unsung Heroes

The modern buyer isn’t just interested in software – they’re seeking services that help them implement and integrate solutions into their tech stack. 69% of buyers consider service providers during their journey, but only 42% actually work with third-party implementers. This presents a huge opportunity for software vendors to better connect prospects with the service providers they need early on. As Steve Van Lieshout from Spotlight AR puts it: “It’s now software first, services second.”

8. ROI Expectations Are Sky-High

AI is pushing ROI expectations to new heights. 57% of buyers expect to see a positive ROI within 3 months of making a purchase. And for 11%, they want it immediately. With

AI, buyers expect instant value. If your product can’t demonstrate quick wins, you’re likely to lose out.

“In an era of growth at all costs, getting C-suite sign-off was a formality, but in an era of capital-efficient growth, it’s a requirement.” – Sarah Allen-Short, GTM Partners

Conclusion: Navigating the New Era of Software Sales

The 2024 Buyer Behavior Report has shown that buyers are more strategic, informed and demanding than ever before. As AI continues to redefine software, vendors must meet buyers where they are: delivering AI-powered solutions, proving immediate ROI, prioritizing security and building trust through authentic, peer-driven content.

At Radancy, we understand the importance of staying ahead in this ever-evolving industry. By leveraging the AI-powered Radancy Talent Acquisition Cloud, we empower businesses to make smarter, faster decisions, simplifying hiring processes and ultimately maximizing ROI. Our platform helps you engage with buyers at the right moments, offer transparency and build the trust that buyers are increasingly relying on.

By aligning your strategies with buyer expectations – delivering quick, impactful results, integrating robust AI capabilities and emphasizing security – you can thrive in this new era of software sales. Engage quickly, prove value early and leverage the power of AI to stay ahead of the competition. With Radancy’s expertise and innovative solution, you’re not just meeting buyer expectations – you’re exceeding them. Want to learn more about simplifying your talent acquisition with Radancy? Book a demo today.

About Evan Clarke

Evan Clarke, a Canadian Content Marketing Manager based in Vienna, crafts narratives for Radancy through insightful articles, whitepapers, compelling social media content, and more. Outside of connecting top talent with leading companies, Evan enjoys writing fiction, producing music, and watching movies.

Last modified: January 8, 2025

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About the Author /

Evan Clarke, a Canadian Content Marketing Manager based in Vienna, crafts narratives for Radancy through insightful articles, whitepapers, compelling social media content, and more. Outside of connecting top talent with leading companies, Evan enjoys writing fiction, producing music, and watching movies.

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