Building your global partner network in the SaaS industry

Saas Industry

Table of Contents

The term “Software as a Service” (SaaS) means “software as a service.” For those unfamiliar with the term, it refers to a software distribution approach in which a third-party provider hosts and makes applications available to clients via the internet. SaaS, along with infrastructure as a service (IaaS) and platform as a service (PaaS), is one of the three basic types of cloud computing (Paas).

As technology developers concentrate on innovating & creating impactful solutions to growth challenges faced by their customers both domestic and international, it is observed that no one player or business has all the tools or expertise to reach the end goal. There is a clear need for businesses to partner with someone who is an expert in their specialized domain. This can range from technological specialization to marketing and or distribution capabilities.

Partner Network

That’s where a partnership program comes in which enables a business to draw from each other’s strengths and benefit all parties involved to varying degrees. The best way to approach building a partner network is by beginning to create an environment where you can learn from each of your partners & vice versa. This means that you should be able to conduct business in such a manner that you get to share knowledge and experiences with your partners, while also being able to help them grow their businesses.

Now, it is not necessary that the country you operate in will have a partner that you may want to get into business with. Many times the expertise required necessitates the need of a global partner that brings in that part of the business that you may be looking for. Smart businesses usually build a network of such partners who complement the primary business and work in tandem to deliver the product to a domestic or international client.

The key to building a global partner network is finding the right partner who agrees to have a common outcome from the collaboration and is willing to make things happen whatever the challenges.

Taking it a step further with Technology Partnership Marketing

According to Hinge’s 2021 High Growth Study, partnership marketing is ranked as the 7th most impactful marketing technique for professional services firms – ranking above more commonly implemented marketing techniques such as event sponsorships, blogging, and even email marketing campaigns.

The next question that may come to your mind is that, how will Technology Partnership Marketing help in my business. 

For one, it reduces the cost you incur per lead thus giving you more bang for every dollar you spend towards acquiring new customers. 

Secondly, this helps you improve your customer retention. Customer churning is not uncommon in today’s day and age. With a plethora of choices, customers are spoilt and may not be as loyal as you would expect them to be.

Challenges

Building a partner network in the SaaS industry is not without its challenges.

Choosing partners based on what they offer and the gap they fill in is the 1st and the most critical step of all. The match with your company has to fit like lego blocks for the partnership to work.

Once a good match is found, developing a joint value proposition is the next step. Essentially, one needs to draw clear milestones and key performance indicators such that all parties involved may benefit from the value that the business brings to the table.

Forging long-term & firm relationships with established resellers requires a good deal of focus, commitment, and undoubtedly a lot of time in the beginning.

Giving before receiving is the way to win at the game. Enabling your partners with training & development to be able to begin sales for your business is the only way to begin. So how do you design a good training material such that your partners can understand your business?

Time is your friend and your foe. Patience and constant faith in your partner will bring fruit but the business may need more than a year and a half to appear like there is some progress.

You also need to hit the sweet spot in terms of agreeing upon the compensation that your partner will earn on successful sales of your products. Too low and your partner may not feel motivated enough. Too high and you may take some more time before you appear in the green.

Going Global

While it may seem challenging, going global opens your business up to a plethora of opportunities and expands your footprint while reducing dependency on only one economy.

A Global Partner network allows you to take advantage of a new pool of customers which your partner brings in. This helps tremendously in upscaling your company, placing you on a path of increased sales and hence increased revenue.

Going Global also brings in new learnings in terms of processes and technological know-how thus training your personnel on the job. This goes a long way in creating profitability for your business.

Having a credible Global partner network lends its credibility to your business thus improving the perception of your business and set of brands which in turn increases customer trust and bolsters you as a reliable player in the SaaS business.

And lastly, a partnership is built on basic principles of teamwork, collaboration, and synergy in such a manner that as a result, you get to deliver the final product to a happy customer and a happy business owner such as YOU.

So how do you go about finding a global partner?

How do you go on to build a global partner network that your business can tap into as and when needed?

How will having a global partner help expand your business to the extent you envisage it to?

What are the challenges of building such a network? So how do you prepare for the challenges ahead?

Thankfully there is a place where you can get answers to these questions and more.

We are conducting a webinar to share industry expertise and “how-to” for you to take full advantage of a global partner network. You will learn smart ways of applying this knowledge in your own business and also be able to develop a strong sense of what’s currently going on in the world of SaaS. 

Be it smart strategies to enter and break ground in new markets or deploying best practices to ensure efficient use of assets for strong yet sustainable growth for your business, this webinar is the one to attend.

The webinar will also talk about the challenges one may face in building your global partner network and the solutions to tackle those challenges. This will help further your knowledge and keep you on top of your game.

 

Click on this link to book your spot.

 

Participation in this event is open now.

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