As we bid farewell to 2023 🎉, I'd like to extend a huge thank you every one of you. Special shout out to vibrant Cloud GTM Leader and partnership communities. It’s been a year of remarkable growth, learning, and collaboration.
These key trends have reshaped Cloud GTM in 2023:
📈 The Rise of Marketplace Billionaires
This year witnessed a monumental shift in the tech industry towards marketplaces. Leading SaaS companies like CrowdStrike, Splunk, Snowflake, and Palo Alto Networks announced achieving turnovers of $1 billion through the AWS marketplace alone.
Cloud marketplaces, much like AI, are reshaping the core of the tech sector. Nearly all tech companies are now reevaluating their GTM strategies to align with these evolving platforms.
💰 Record $303 Billion in Commits and Low Commissions
A staggering $303 billion in customer cloud commitments by Amazon Web Services (AWS), Microsoft Azure, and Google Cloud underscores the continuous migration to the cloud, further accelerated by AI.
Following similar moves by MSFT and Google Cloud, AWS’s reduction in marketplace fees has set a new standard of 3% commission. This rate, comparable to credit card or Stripe fees, resets the economics of partnering, making participation in cloud marketplaces a no-brainer decision not only for CROs, but for CFOs and CEOs.
🎯 Buyer-Led Marketplace Transactions
The year 2023 saw a significant increase in customer-driven activity within marketplaces. The marketplace is increasingly becoming a customer's choice for fulfilling commitments and discovering new products. This trend signifies a shift in purchasing behavior.
Many companies have honed sales through private offers and are now broadening their collaborations with hyperscalers, including automating co-selling, expanding to public offers and more.
🤝 Bonus Insight: Partnerships and Ecosystems as Top Strategy
This year marked a fundamental shift in the perception of partnerships, recognizing the monetary value that partners bring to customers both before and after “sales” transactions.
With 82% of CEOs now focusing on partnerships and 69% of executives observing better financial outcomes when they focus on ecosystem, the strategic importance of partnerships has never been clearer.
🙏 A big thank you to all our amazing course members, world-class speakers, and readers. Your engagement and insights have been pivotal in our journey.
Although it's impossible to name everyone in this short post, especially with 15K followers across platforms, please know that your dedication is greatly appreciated.
As we step into 2024, anticipate more data-driven insights, deeper dives into cloud strategies, and more outstanding speakers in our courses and events.
💡 Happy New Year! 2024 is our year to lead in Cloud GTM.
Let’s master cloud marketplaces together.
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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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