4 effective ways to reinvent co-selling in the Cloud Marketplaces for 2022
By Amit Malik
10 October 2022
Co-selling in the cloud marketplaces is one of the most effective ways for ISVs to increase their sales and grow their revenue. Essentially, co-selling is all about partnering with your cloud provider to generate, nurture and close deals at a faster pace and greater volume. However, with an exponential increase in cloud selling and subsequent rise of ISVs, cloud providers find it difficult to offer co-selling support to every ISV. Invariably, you might find yourself struggling to co-sell, despite fulfilling all requirements and eligibility considerations. Fortunately, you can now reinvent the wheel by adopting a new approach to co-selling in the cloud marketplaces which will push your cloud provider to take notice of your efforts and support you towards business growth. Let’s uncover how you can facilitate your acceptance for co-selling.
A twist to co-selling in the cloud marketplaces
Co-selling in the cloud marketplaces has often been a pull activity for ISVs. It involves waiting for leads from cloud providers and gradually nurturing them to foster sales. However, with fierce competition, ISVs need to supplement this pull with a complimentary push which involves getting direct deals to grab attention. Once the cloud providers take notice of your organic impact, they will see the potential of deals from the partnership, leading to higher co-selling opportunities. Thus, you need to reinvent your approach towards co-selling in the cloud marketplaces to achieve higher support from your cloud providers.
How to reinvent co-selling
There are 4 major ways in which ISVs can reinvent co-selling in the cloud marketplaces to create a value proposition for cloud providers to accept their co-selling status.
Divert deals from other channels
The first step is to divert your existing deals from other channels and close them in the cloud marketplace. You can attain a co-selling status by encouraging your existing customers to purchase your offers from the cloud marketplaces instead of the conventional channels. Create a value proposition for them with the ability to utilize pre-committed spends in the cloud marketplace to facilitate the same.The process is quite simple. During the sales process, your team can illustrate cloud marketplace as an option for the customer to purchase your offer from. Focus on highlighting the several benefits that come along when transacting through cloud marketplaces. Factors like ease of procurement, less paperwork, etc. can help create a powerful pitch for transactions through marketplaces. Initially, you should focus on shifting those deals to the marketplace which are more or less confirmed. This will create a perspective of high deal closure rate and the cloud providers will take greater notice of your existing in the marketplace.
Focus on renewals
Co-selling in the cloud marketplaces is not only about landing new deals, but also about deal renewal. The bottom line is additional revenue realization that is routed through the cloud provider. Hence, any deals that you are able to renew with your customers in the cloud marketplace will also help you create a mark. There are two ways to get a co-selling status via renewals. First, focus on the deals that you have closed in the cloud marketplaces itself. Be it through organic outreach or diverting your deals from other channels, you focus on deals that are already in the cloud marketplace and which need to be renewed in due course of time. Their renewal in the cloud marketplace will be easier to achieve as they already have a proof of concept and have benefitted from the said transaction. Second, you may have existing customers in the other sales channels whose deal term or duration may be coming to an end in the recent future. You can take these deals and renew them in the cloud marketplaces. Follow the same value proposition as with new customers about benefits of these marketplaces.
Boost marketing efforts
Another way to establish a thriving presence to gain the co-selling status as an ISV in the cloud marketplaces is by attracting leads organically. This involves focusing on your marketing efforts. Right from defining your offer with the right keywords to leveraging marketing resources available in the marketplace, there are several steps to boost your visibility. Leveraging the right marketing strategies can have dual benefits to help you reinvent co-selling in the cloud marketplaces. First, you will be able to garner the attention of more customers organically leading to greater sales and revenue in the marketplace which will lead cloud providers to notice you. Second, your offer will become more visible to cloud providers as well, pushing them to notice your business and accelerate your co-selling status.
Identify CSPs and other partners
Finally, you need to also reinvent what co-selling means to you. You may see co-selling as a means to sell collaboratively with leads from your cloud provider. However, if you take a step back, you will realize that there are other partners in the ecosystem of your cloud provider that you can explore co-selling with. For instance, you may want to explore collaborative opportunities with CSPs, who sell specific cloud solutions to their customers and can add your offer as a value add. The objective is to identify opportunities of partnerships and co-selling beyond the conventional ISV-cloud provider relationship. Ultimately, your focus is to boost your sales and growth. Invariably, such partnerships will also help you get noticed by cloud providers as an ISV making sincere efforts and facilitating results. Thus, increasing your chances of gaining a co-selling status.
Leverage SaaS enabled platform to promote co-selling in the cloud marketplaces
Your cloud provider will provide you with a co-selling status when they have confidence about your offer. Unless they are sure that your offer will add value to the journey and business of their customers, the quality and volume of leads you will receive will be far from satisfactory. To ensure that you are able to leverage co-selling in the cloud marketplaces to the maximum extent, you may want to collaborate with a SaaS enablement platform to take your offer to the cloud marketplace. One such solution is SaaSify, which can help you:
Take your solution to the cloud marketplace within days, without any engineering changes
Create custom offers for your customers, and sell as they want to buy
Manage all your public and private offers from a single dashboard
Accelerate your branding and visibility with the option to create a customized landing page with your logo
If you want to get started with co-selling in the cloud marketplaces and learn how to make the most of it, connect with our marketplace experts today!
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