Here's what you need to know to succeed in Cloud GTM

A recent ICONIQ Capital study on SaaS GTM 2024 reveals that a staggering 47% of software companies are using marketplaces of Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.

But navigating these hyperscaler ecosystems can be challenging.

Here are 6 crucial lessons for succeeding in cloud marketplaces, based on insights from companies like Drata and Glean:

👨‍💼 Start from the customer

Don't just default to your cloud provider - consider which marketplace best reaches your ideal customers

Infrastructure & security companies often prioritize AWS for its strong CIO/CISO relationships

Application software companies targeting CFOs or revenue buyers often favor Azure given Microsoft's strong ties in those areas

Analyze your ICP and map it to the hyperscaler with the best connections to it

🛒 Master one marketplace first

Resist the temptation to pursue multiple marketplaces at once

Focus on building a strong, predictable revenue stream with one marketplace before expanding

Develop a scalable partner enablement program to set the stage for future expansion

Once a successful playbook is ready, "companies tend to move towards a multi-marketplace approach by selling through 2-3 marketplaces at the same time.“

🤝 Tap into your network

Startups can leverage VC connections to get on the radar of hyperscalers if they lack established relationships

Learn from operators and companies who have successfully navigated these marketplaces. Don't hesitate to ask for help

🎯 Cultivate insider relationships

Treat marketplace partnerships like enterprise sales - identify and build relationships with key decision-makers

Hire team members with experience and existing relationships in your target hyperscalers

Multi-thread within the organization, connecting with partner reps and other key stakeholders

Invest time in becoming an "insider" to gain visibility and advocacy within the marketplace ecosystem

🛠️ Invest in operational readiness

Dedicate 1-2 people early to operations, billing, and marketplace backend- don't wait until you're overwhelmed

Marketplace billing is nuanced and may require separate systems /processes

Implement a CRM lead sharing and revenue attribution for partner-sourced and partner-involved deals

💡 Enable partners like your own sales team

Train cloud partners on your ICP, product features, use cases, and messaging - just like you would train a new sales hire

Repurpose existing sales enablement, customer success, and onboarding resources

For complex products, leverage solutions architects and sales engineers for hands-on technical enablement

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📈 Accelerate your Growth in Cloud Marketplaces

Transform your marketplace strategy with first-hand insights from Cloud GTM leaders in our 5-week cohort course. Learn in a community of great alliance leaders. Join 100+ alums from companies like GitLab, Darktrace, IDC and others.

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