A cloud marketplace is an online storefront run by a cloud service provider. It offers access to software applications to customers that integrate with or compliment the cloud provider's offerings. In the marketplace, customers can directly purchase and manage these cloud-based software applications.
You may hear cloud marketplaces referred to as SaaS marketplaces. Cloud marketplaces attract a significant amount of traffic; according to Gartner, enterprise customers buy over half of their services from cloud marketplaces. This makes them a key part of a successful go-to-market strategy for SaaS providers.
Example: A well-known cloud marketplace is the AWS Marketplace, where customers can purchase software that runs on the Amazon Elastic Compute Cloud.
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Customer relationship management, or CRM, is a software used to build and manage communication between a company and its customers or prospective customers. It's primarily used by sales, customer success and marketing teams to improve and streamline processes including lead tracking, customer segmentation information and task management.
CRMs are used to increase sales and improve retention by shortening the sales cycle, and monitoring and following up regularly with active customers. A good CRM tool will help attract, delight and engage in order to scale your B2B SaaS business.
Example: B2B SaaS companies use CRM (customer relationship management) software in their business as a centralized place to manage connections with customers and prospects.
In B2B SaaS, a channel partnership is a joint venture between a software vendor and a partner to resell, manage and deliver the product to end customers. Channel partnerships are a mutually beneficial relationship as they act as an extension of the vendor's marketing department, allowing the vendor to sell more with lowered customer acquisition fees. The partner benefits by making a cut of the revenue for customer referrals or sales.
Example: Channel partnerships are a way to grow revenue by capturing additional customers and allowing SaaS companies to focus on their core business.
Go all in with partnerships. Demo our platform to see how you can diversify your channel and scale revenue.