Explore how listing your SaaS solution on cloud marketplaces and tapping into reseller channels can boost your business. Learn the benefits, the right time to list, and what to do post-listing.
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Ask anyone for marketing advice and they will tell you that your company has to be online. Although that’s a no-brainer in the internet era, you have to think about where you need to be in order to reach the prospects you are looking for.
SaaS companies are no exception to this rule as any business has an eternal desire, and goal, to get more leads. Bringing in more leads means that you can bring in more profits, thus, ensuring the well-being of your business.
This article is going to take you through the process of listing your solutions to Cloud Marketplaces and tapping into Reseller Channels to grow your business. More specifically, you will learn:
● What Marketplaces are and the benefits of tapping into the reseller channels.
● When is the right time to list your solution.
● What to do after you list your product.
● How the process works.
SaaS B2B Companies need to find effective ways to distribute their products, reach broader audiences, and increase revenue streams. A good path to go about this are Cloud Marketplaces, most specifically tapping into the Reseller Channel.
A Cloud Marketplace is a platform where your SaaS company can list its products for sale and deployment. Examples of popular Cloud Marketplaces are Amazon WebServices (AWS), Google Cloud Marketplace, and Microsoft Azure Marketplace.
People often think of Marketplaces as B2C (Business-to-Client) platforms. However, cloud Marketplaces are different because they focus on B2B (Business-to-Business)sales, not consumers.
Big companies like Microsoft, Google, and Amazon are called hyperscalers because they operate on a large scale. By joining their marketplace, a company gets the chance to collaborate with their sales teams and reseller channels. As an example, Microsoft has over 90,000 resellers (other companies that sell their software). You can use this network to your advantage to increase your reach and make more sales.
A reseller channel is a third-party company distributing the SaaS product and selling it to its own customers. Resellers often operate in markets or regions where they have strong relationships with businesses you might not be able to access.
When you work with resellers, you give them a part of your sales earnings so they can cover their own costs, such as customer support and marketing. In return, resellers help you grow your business faster because they already have a customer base, allowing you to unlock new markets or locations.
If you are not yet convinced that you should join a Cloud Marketplace, here are some potential benefits you may get out of them to help you understand why your product should be listed:
● Resellers can vastly improve your reach since they already have their own customer base.
● Big marketplaces, like Microsoft, make the transactional process simple, meaning it’s easier for customers to buy your software.
● Hyperscalers can use pre-negotiated budgets to help your customers buy from you. Sometimes, a sale falls through because a company doesn’t have the budget at the moment. However, by leveraging existing budgets already set aside by big companies like Microsoft, you can increase your chances of closing the deal.
● Being listed on a well-known cloud marketplace lends credibility to the SaaS provider, as the marketplace brand can give customers additional confidence in the product’s reliability and security.
● Many SaaS marketplaces offer native integrations or partnerships with existing platforms, making it easier for customers to deploy and use the software alongside other services they already subscribe to.
There is no doubt that SaaS companies need to think about their marketing strategy from the very beginning. However, they also have to be certain that their product aligns with the marketplaces they intend of joining.
This is a matter of relevancy, knowing that your solution is going to be valuable to your target audience. This is also a criteria you can use to determine if yours solution is a good fit for the Marketplace you are considering of joining.
Ask yourself:
● Is my product or service a good fit for this Cloud Marketplace?
Apart from that, you need to know that your product is good to go and can be used with no problems. Avoid listing your solutions if you are still making tweaks to them.
Just listing your solution does not guarantee success. While there might be a few leads here and there, this passive approach isn’t enough.
To generate revenue through the marketplace, you need a strong strategy which include straining the sales team, identifying fitting customers, and actively engaging with account executives from big companies like Microsoft.
The focus should be on building relationships with customers who are already familiar with the product, rather than putting all your efforts in cold outreach. For resellers, the key is identifying potential partnerships where there’s a good fit between the company’s product and the reseller’s customer base.
Initially, you shouldn’t expect resellers to invest heavily in the partnership. Instead, you need to take the initiative by proposing simple, low-risk collaborations to build trust and prove that the partnership can work.
The reality is that listing a product or service in a SaaS Μarketplace requires some technical expertise. The IT team needs to work on it and it takes most companies about 6 months to get it listed.
But here’s the good news, there is a faster way to do it. We at WeTransact can get your product listed in just 5 days, saving you the frustration. We provide you with a platform where you can build your offer, your contract, and everything else needed.
Our team also provides the essential training you’ll need to become a pro in using the Microsoft Marketplace, which is the best choice for SaaS companies to grow their business.
Find more information here https://www.wetransact.io/
As we’ve seen, listing your solutions on Marketplaces and Reseller Channels can assist you in growing your business. Both of these channels come with their advantages, allowing you to get your products and services in front of their existing customers’ eyes.
Although you will have to pay a flat fee or a percentage of your sales to these Cloud Marketplaces, the benefits are much greater. Now that you have a complete overview of this strategy, it’s your turn to make a decision.
Remember that WeTransact can help you all along the way. Talk to Us.
