If you are a software seller, you need to establish a presence where your B2B buyers are. Conventionally, you might be using different online and offline sales channels to attract your B2B buyers. However, with an increase in cloud adoption, your B2B buyers are moving towards cloud marketplaces. Research shows that 9$% enterprises use cloud services and 92% have a multi cloud strategy in place.
As enterprises or B2B buyers move to the cloud for other services and engagements, it is a natural expectation from them to buy software there itself. Thus, to expand your SaaS business, you must explore selling in cloud marketplaces. If you are wondering what have been the drivers behind this flocking of B2B buyers in cloud marketplaces, we have 5 reasons for you.
Top 5 reasons driving B2B buyers to cloud marketplaces
Based on insights from B2B buyers from across the globe and enterprise intelligence, we have identified the top 5 reasons for enterprise transactions happening through cloud marketplaces. Let’s quickly look at why your buyers are on cloud marketplaces and how these insights can help you boost your sales.
High levels of trust in marketplaces
Trust is a big factor guiding software purchases today. B2B buyers are looking for genuine and authentic software, which will not only deliver on its promises, but will also not compromise on anything else. For instance, most software today will access enterprise data for optimized functioning. For enterprises to grant such access, they need to trust the SaaS product they are buying. Invariably, the level of trust while buying through cloud marketplaces is higher. B2B buyers trust market places for undertaking a high level of due diligence before a SaaS business is able to list its products.
Thus, a major reason for B2B buyers preferring the cloud marketplaces as sales channels is the high level of trust they bestow in them.
Natural tendency to go digital
Most B2B decision makers are increasingly digital natives and prefer digital engagements to the maximum extent possible. Many also expect an e-commerce-like experience when buying software and, thus, cloud marketplaces become the ideal platform for them. Furthermore, when multiple stakeholders are involved in decisions, like software purchase today, marketplaces are more convenient.
Simplified procurement processFor almost all B2B buyers, the administrative work after selecting the ideal solution is considered unnecessary and a waste of time. Thus, they turn to cloud marketplaces to make procurement seamless and airtight. Since they are buying through cloud marketplaces, they do not have to invest resources in vendor onboarding and due diligence. Buying through cloud marketplaces makes the entire experience simplistic and B2B buyer centric. Therefore, B2B buyers are increasingly moving towards cloud marketplaces because they crave a simplified procurement process which may not always be possible through conventional SaaS sales channels.
Easier budget approvals with cloud adoptionSecuring budgets for software implementation, especially when the software is being introduced in the company for the first time, can be difficult for B2B buyers. There are multiple approvals needed at different levels which can take anywhere between a few weeks to a few months. However, B2B buyers claim that when buying through cloud marketplaces, they are able to circumvent this challenge. First, most enterprises have long standing contracts with cloud providers and pre-committed spends, which can be utilized for the purchase of software, without a lot of approvals. Second, the increase in focus and energy around cloud adoption, has resulted in an increase in cloud budgets across enterprises. While securing budgets for software purchase can be tricky, additional budgets for cloud adoption are easier to secure. Invariably, B2B buyers are, thus, treading on a more convenient path of securing budget approvals to meet their software needs.
Seamless navigation to find the right solutionFinally, the cloud marketplaces enable B2B buyers to seamlessly navigate through various options and compare the ideal solution for their needs. The e-commerce-like experience helps them to search for the software solution they need with a few keywords. At the same time, they can also use marketplaces to understand how a particular software aligns with the others purchased through the marketplaces to complete the enterprise’s ecosystem. Thus, the final reason for B2B customers to purchase software through cloud marketplaces is the ability to find exactly what they need and build an effective software ecosystem for their enterprise.
Serve B2B Buyers in Cloud Marketplaces with SaaSifyIt is quite evident that your B2B buyers are in the cloud marketplaces and if you want to expand your customer base, that’s where you need to build a thriving presence. If you publish your offer in cloud marketplaces you will be able to:
- Get more customers due to their trust in cloud marketplaces and comfort in transacting through them
- Address the need of B2B customers to buy your software digitally with an e-commerce-like experience
- Access pre-committed spends for your customers, leading to shorter sales cycles and longer contracts
- Gain greater visibility where the customers are searching for a SaaS solution like yours