Cloud marketplaces have emerged as a vital channel for organizations aiming to streamline their go-to-market strategies. According to Canalys, global sales of third-party vendor software and services through cloud marketplaces are projected to reach $45 billion by 2025, reflecting an impressive compound annual growth rate (CAGR) of 84%. This significant growth underscores the urgency for alliance and sales leaders to adopt cloud marketplace strategies swiftly, as they represent a promising avenue for revenue generation and customer engagement.
The urgency to embrace cloud marketplaces is further emphasized by the fact that 65% of partners are increasing their focus on marketplace strategies this year. This shift is not merely a trend; it reflects a broader movement towards efficiency and digital transformation across industries.
As organizations recognize the potential of cloud marketplaces, the question arises: should they build their marketplace integrations or partner with specialized Cloud GTM platforms?
Let’s take a deeper look at this.
Building Your Own Cloud Marketplace Integration
Building your cloud marketplace integration is possible, but it has drawbacks.
Lack of Technical Expertise
Many organizations lack the necessary technical know-how to navigate the intricacies of cloud marketplaces. Getting engineering bandwidth and managing the cross-functional effort required to get the integration set up can be daunting.
Time Consumption
Integrating and listing a product on a cloud marketplace can take 3 to 6 months. This delay means potential revenue could be significantly postponed, raising questions about whether companies can afford such waits. Getting listed also requires passing audits and technical reviews, which can add additional hurdles to your journey.
Significant Upkeep Requirements
Cloud marketplaces frequently update their APIs and requirements, necessitating constant vigilance from your team to keep your integration functioning well. Continuous training is also required to help your sales and partnerships teams navigate the process.
Expansion and Scalability Challenges
Managing multiple marketplace listings can be overwhelming. As businesses grow and expand into new hyperscalers, the complexity increases exponentially.
Top 3 Benefits of Buying Cloud GTM Platforms
Opting for a specialized partner for cloud go-to-market (GTM) platforms offers several advantages:
Faster Time-to-Value
Engaging with Cloud Marketplace experts can drastically reduce the time required for listing processes, transforming weeks of waiting into mere hours. With their knowledge and partnership with Cloud Marketplaces, your solution can pass the testing phase and compliance requirements without breaking a sweat.
Scalability and Flexibility
Cloud marketplaces are notorious for their rigorous API updates. A dedicated Cloud GTM platform can adapt more easily to changes in marketplace requirements compared to an in-house solution that may require extensive re-engineering.
Cloud GTM platforms typically also come with automated pipelines, workflows, metering, and reporting to help you scale faster and grow your revenues more efficiently. Especially when you move to a multi-cloud strategy, it becomes easier to manage multiple dashboards within the same interface, as opposed to context switching.
The ability to build additional custom workflows and map your existing CRM opportunity and leads data is a bonus provided by platforms like Labra.io. Working from a familiar and intuitive platform also reduces the training effort required for your sales and partnerships teams.
Access to Cloud Marketplace Experts
Partnering with experienced vendors not only streamlines the process but also opens up valuable conversations with experts who can guide your organization in maximizing marketplace opportunities.
Labra.io + Archera: A Cloud Success Story
Archera, a cloud cost management platform, partnered with Labra for Cloud GTM success in 2023. Labra helps Archera maintain its Marketplace and Co-sell motions.
Labra.io played a pivotal role in Archera’s success by streamlining its cloud marketplace integration and enhancing operational efficiency. By leveraging Labra’s solutions, Archera was able to automate critical processes such as opportunity synchronization and marketplace listing management.
Labra ensured that both AWS and Archera’s systems were up-to-date with opportunity information, which was taking up a lot of manual effort and time. This automation significantly reduced the time and effort required to manage their AWS Marketplace presence, allowing Archera to close deals in under two weeks—a remarkable improvement from previous timelines.
Additionally, Labra’s expertise enabled Archera to maintain accurate and up-to-date marketplace listings without overwhelming their sales team, freeing them to focus on higher-value activities. As a result, Archera not only optimized its marketplace strategy but also positioned itself for future expansion into other cloud service provider marketplaces, demonstrating the effectiveness of Labra’s tailored solutions in driving marketplace success.
Start your Cloud GTM journey with Labra.io
