Say hello to frictionless B2B software selling on Cloud Marketplaces!
Let’s take a quick look at some facts: Gartner reports that enterprise customers of all sizes are buying over half of their services from Cloud Marketplaces. Interestingly, more than 35% of the 2020 Forbes’ Cloud 100 companies are actively selling on Cloud Marketplaces. These stats highlight the win-win situation that marketplaces have modeled for buyers and sellers alike.
But why has this transition in selling software escalated so quickly? Why are sellers flocking towards marketplaces as their go-to-market channel?
Let’s dig deep and figure out how cloud marketplaces are empowering ISVs to win the revenue game and consequently the merits of B2B software selling on cloud marketplaces.
The Cloud Marketplace Advantage
1. A mega distribution vehicle
First things first. The demand for IT cloud solutions is escalating with each passing day. As per the review site, Better Buys, 78% of businesses plan to expand the number of software-as-a-service (SaaS) platforms they use over the next three years.
More so, enterprises across the world are increasing their software spending at an unbelievable rate with reports predicting that the cloud services market valued at $264.80 billion in 2019 is projected to reach $927.51 billion by 2027, growing at a CAGR of 16.4% from 2020 to 2027, with software-as-a-service (SaaS) being the most lucrative segment.
With spending increasing, software providers have a huge opportunity to provide their customers with a convenient buying experience, making Cloud Marketplaces the best choice for the task.
2. Get the best out of co-sell opportunities with B2B software selling on cloud marketplaces
Maintaining strategic partnerships with leading Cloud Providers has a greater upside overall. Marketplaces are more than willing to set co-selling in motion to sell in collaboration with their own sales teams. If the offerings are complementary to driving cloud consumption, providers are inclined to enable a bi-directional selling opportunity.
Achieving a co-selling status with a provider can be a boon for your business as it puts your offering directly in front of millions of buyers across the world.
Co-selling incorporates varied benefits like — sharing sales leads, building customer demand through marketplace marketing, increased traction on offers, enabling and accelerating partner-to-partner selling. All in all, getting those revenue engines up and running.
3. Close deals faster with effortless procurement
Your customers are tired of the struggle that accompanies purchasing IT solutions. Extensive negotiations and paperwork, vendor suitability check, multiple security assessments, secure data management, so on and so forth.
But what if you could give customers a seamless and convenient buying experience that makes closing deals a breeze? Well, the entire existence of commercial marketplaces rests on that foundation. It really doesn’t get easier than this — Walmart but for software! Isn’t this an attractive benefit for B2B software selling on cloud marketplaces?
4. Access pre-committed spend
Enterprises are making multi-million-dollar spending commitments with cloud providers, usually in exchange for good discounts. This practice has been accelerated by the pandemic as companies began looking for ways to conserve their monetary resources and control their inflating budgets.
With B2B software selling on cloud marketplaces, you can dip your hands into this incoming money. Another key player is the massive reduction in operational costs for businesses — buy from marketplaces minimizes any extra engineering and management spending.
Buying software that is pre-integrated with their in-use cloud is a more feasible option for any company.
5. Worriless selling and scaling
Selling on cloud marketplaces drives growth faster because marketplaces eliminate most of the operational efforts on your part. For immediately deployable solutions, B2B software selling on cloud marketplaces manage all your taxation and billings and you get paid on time. More so, Cloud Provider partnership opens doors for innovative solution building and product enhancement as you get sneak peeks into the trending and in-demand enterprise solutions.
Providers (as we earlier saw in co-selling advantages) also offer marketing resources that get you more traction and leads enabling accelerated growth.
Commercial Marketplaces are indeed a very potent channel, which makes them a cornerstone of every software seller’s successful go-to-market market strategy.
If you’re looking to facilitate B2B software selling on cloud marketplaces but don’t know how to get started and what’s the best route to follow, SaaSify is the solution for you.
Our expert team offers you a hand-holding experience to make your software offering transactable on marketplaces, without you having to make spends on engineering resources. We’ve built a platform that caters to your specific selling requirements and helps you list your offers easily and start B2B software selling on cloud marketplaces ASAP.
Learn what SaaSify can do for you
This blog was originally published on SaaSify.
