Quickly adapting to changing customer preferences and business needs is essential in the Software as a Service (SaaS) industry. For software resellers, this means drawing upon data-driven decisions to navigate the digital marketplace, building customer relationships through subscription-based models and using automation to integrate business processes.
With the Australias SaaS market projected to grow by 25% each year, resellers are looking for ways to optimise growth strategies and more effectively sell SaaS products in the subscription economy.
Reselling Solutions at Scale
Estimated at $593 billion in market value, the global subscription economy offers organisations a stream of recurring revenue and provides customers with access to various products and services. Yet, developing your solutions is costly and time-consuming, slowing your time to market and eating away at your profits and value Resources must be poured into research, testing, and ongoing maintenance. As you grapple with expanding your knowledge base outside of your core business and deal with troubleshooting, similar solutions may already exist in other formats.
Reselling SaaS products means you do not have to start from scratch to build custom solutions for your customers. But what is the best way to customise the user experience when reselling software?
White label solutions from partners are ready-made and fully integrated, allowing you to customise the product easily with your brand, logo, and identity. Customers can associate the product with your business while sparing you the burden of research and development. White-label solutions enable you to utilise experts in a specific space without diverting resources from what your business does best. Meanwhile, your customers get what they need when they need it.
Partnering in the Digital Marketplace
Now that you have a white-label solution to sell, several challenges may hinder your ability to maximise opportunities and streamline your operations in the digital marketplace. You might have limited access to vital business data, making it difficult to make informed decisions. After all, gaining insights into sales growth and revenue forecasts is essential.
The digital marketplace generates large amounts of rapidly changing data and content based on user interactions. This data is crucial to expanding your business, but managing and deciphering it poses a challenge. This is where partners' expertise in the digital marketplace comes into play.
Adobe VIP Marketplace provides a one-stop shop where you can acquire, manage, resell, and deliver Adobe software licenses. The application program interface (API) enables the platform to streamline purchasing, unify license management, and provide versatile service deployment options.
As an Adobe reseller, you can use advanced technology to analyse complex, multi-channel data in real time. For instance, you gain insights into product usage trends and popularity by viewing the most provisioned products across your customer base. You can also visualise the spread of discounts applied to deals within the marketplace with customisable timeframes. This type of information empowers you to make data-driven decisions with ease and precision.
Cutting through Complexity with Automation
Along with personalisation, customers have come to expect a seamless user experience. In the crowded SaaS industry, users have many options at their fingertips. If a products interface is clunky or there is a steep learning curve needed on the customers side, frustration can quickly set in. Additionally, manually generating reports and dashboards to monitor sales and performance can be labour-intensive, consuming your valuable time and resources.
Offering cloud subscriptions allows you to create and deliver multiple product combinations for your customers. However, as your subscription customers grow, the more complex managing those subscriptions can become without an efficient system in place. Integrating catalogue fulfillment, billing, and procurement with end-to-end automation helps you improve efficiency behind the scenes.
Strengthening Customer Relationships with Greater Personalisation
More and more companies are using data analytics to understand dynamic customer behaviour and tailor products and services. Providing personalisation can help customers feel you genuinely understand and can cater to their specific needs. A report from Accenture shows that 76% of customers want more customisation.
Providing services on a subscription basis enables you to build long-term customer relationships as you learn more about customer preferences and usage patterns.
You are creating a more elastic relationship with how you deliver results to your customers, enhancing the customer experience.
Customer data can also help you monitor and reduce customer churn rates, making identifying customers at risk of cancelling their subscriptions easier. By tracking customer behaviour, you are in a better position to implement targeted retention strategies. These efforts may include direct communication to address pain points, offering incentives, or customising a specific product.
The Rundown on Reselling
Resellers must ask questions and add value, building long-term relationships grounded in meeting customers current needs while helping them grow and adapt to advances in technology. In short, reselling is not a sell it and forget it scenario.
Key takeaways:
Remain agile and responsive to evolving customer needs Cultivate customer relationships through subscription-based models and implement automation to streamline your business processes. Utilise a digital marketplace with an advanced API program and sophisticated capabilities for analytics to harness the power of data and solve business outcomes. Look for deeper insights into your customer's needs to help you make well-informed, data-driven decisions and create new avenues for growth and efficiency as a reseller in the subscription economy.
