Unveiling the Potential: A Guide to Navigating Cloud Marketplaces for Business Success

As the digitization revolution continues to drive forward, navigating the ever-changing landscape is both a challenge and an absolute must. That is increasingly clear in the cloud. While the cloud is nothing new, the race to leverage its capabilities continues. While infrastructure and data needs are maybe more obvious wins for businesses, the intertwined ecosystems that have been created are what truly could be the pivotal growth engines. Without mastery, businesses will likely fall to the wayside.

That is becoming ever more evident when it comes to cloud marketplaces. The digitization of the sales transaction has important ramifications that could propel organizations to the future. Done properly, this has the potential to be the foundational layer as not only a sales channel but also a valuable matrix of partnership relationships that are the basis for a value driving, customer sticky, ecosystem that drives growth.

This blog post is intended to be an initial guide to both navigate and harness the power of the cloud and the marketplace.

To begin our discussion, we should start here. Most people know what a marketplace is. Amazon.com is the best example. A marketplace, for all intents and purposes is a storefront. Sellers can market their products online to the public and connect with them digitally. The transaction is done programmatically, or more simplistically, handled by the website (Amazon as our example).

The difference between a cloud marketplace and retail marketplace like Amazon is twofold. First, the cloud marketplace is intended for B2B transactions, with a focus on those products and services that both integrate with and compliment the cloud’s offering. Conversely, retail marketplaces are typically B2C and act as the previously discussed storefront.

Secondly, the retail marketplace is its own discovery tool. Consumers will log on to the platform and search for specific items and add them to the cart and either buy or save for later. While one would think the same is true of cloud marketplaces, the reality is much more nuanced. We like to say that you cannot employ the “Field of Dreams” strategy. You cannot build a listing, launch it on a marketplace and have consumers discover you in quite the same way.

The truth is, some discovery happens, but to really drive success within a marketplace, you need a specialized strategy that is all encompassing. You need that listing, but you need to compliment it with sales and marketing motions that are designed to drive leads and discovery of your product or service on the marketplace.

Cloud marketplaces are not merely transactional platforms; they are vibrant ecosystems where businesses of all sizes can thrive. With effective strategy and focus, they can amplify visibility and open new avenues for lead generation. For companies looking to scale, tapping into the expansive user base of cloud marketplaces becomes a strategic imperative.

This is particularly true for SaaS companies. For those small and medium sized businesses believing in the horizontal benefit of their offerings, the marketplace can be a powerful tool that can truly open new sectors or verticals for the company. This becomes a new sales channel with dynamic possibilities that have multiple expertise to be leveraged. It’s no longer a singular go-to-market focus; it is a supported effort that utilizes network effects from the cloud to fully prosper.

The road to success is not linear nor without its complexities. Let’s be honest, the cloud itself can be intimidating for some. As the cloud continues its absolute massive growth, more and more people are exposed to a deeper digitization than before. While that is fantastic news generally, it also means that more and more folks who are less technically inclined are both exposed and expected to capitalize on the benefits provided by the cloud.

The marketplace itself is overwhelming at times. There is a lot of choice, even if you are looking solely at the hyperscalers (Amazon Webservices (AWS), Microsoft Azure, and Google Cloud Platform (GCP)). Each has its own set of rules and regulations, tech stacks, integration guidelines, and each is a never-ending evolving platform. These are real challenges that require investment and resources to successfully navigate.

Let’s start with some numbers. The IDC predicts that cloud marketplaces will reach over $46B in throughput by 2025. In addition to that, Flexera estimates that roughly 30% of all cloud spend is wasted. While some of that waste is miscalculations on needs, regardless, there is a specific amount of money that is contractually obligated to spend. Extrapolating that 30%, we could estimate the number to be as high as $177B.

This is not to suggest that each company that utilizes marketplaces will see billions of dollars begin to flow their way, it does illustrate that there is ample opportunity. If the right resources are in place, if the company’s management is fully bought into the strategy, and if careful planning and execution are brought to every tactic, the marketplace approach can be very successful for organizations.

While we do not have time to list every challenge and subsequent solution here, we will highlight some guidance on key challenges we see. Keep in mind that each company will be different and each challenge and opportunity will be unique. This is not necessarily a one-sized fits all approach. What we do suggest is that at a high level, companies can identify key needs from getting ideas of the below.

1. Listing Optimization: Listing Optimization: Mere presence on a marketplace is not enough. Companies need to optimize their listings for maximum visibility. This involves attention to SEO, clarity in pricing, and ensuring that End-User License Agreements (EULAs) are readily available.
2. Navigating Regulations: Each marketplace comes with its set of regulations and guidelines. Understanding and adhering to these is crucial for long-term success. This may involve legal considerations, compliance checks, and ongoing monitoring.
3. Competition Management: With numerous businesses vying for attention on these marketplaces, standing out is a constant challenge. Crafting a unique value proposition, leveraging customer reviews, and strategic pricing can help manage competition effectively.

This is what led to the launch of the PARTNERSHIPS agency. We have spent years building partner programs, and in-depth ecosystems that have been the cornerstones of business growth. While working in full-time roles previously, we’ve played pivotal roles in helping businesses scale from zero to well over $100MM in revenue and significant market cap.

Our passion is around partnerships, and what they can mean for business. Collaboration and strategic partnership are the new source of significant revenue in the digital age.

Our experience led us to an approach we believe goes beyond simply building strategy. We create frameworks and focus on implementation and execution. We help to both operate programs and a valuable education resource to help teams stand up and take full ownership of the programs we bring to market.

For cloud marketplaces, this approach has allowed us to focus on key tactics we believe are the basis for future success. They include:

1. Cloud Marketplace Selection: Identifying the optimal starting point and sequencing additional marketplaces strategically.
2. Listing Management: Optimizing the listing for your target audience thus enhancing discoverability, traffic, and lead generation.
3. New Motions: Even optimized listings are not enough. Companies need to lean in, invest and create appropriate custom designed sales motions for an effective approach.

In conclusion, navigating cloud marketplaces is not just a tactical move; it’s a strategic imperative for businesses aiming to thrive in the digital era. The PARTNERSHIPS agency stands as your dedicated partner in unlocking the full potential of cloud marketplaces. Whether you’re a small business aiming for increased visibility or a larger enterprise seeking new revenue streams, our expertise and proven strategies are here to guide you.

Ready to accelerate your success in cloud marketplaces? Contact the PARTNERSHIPS agency today for a personalized consultation. Let’s embark on a journey of growth and possibilities together.