Things to Consider While Choosing an Ecosystem Partner

Apurva Pathak | July 29, 2022 | 332 views | Read Time : 04:00 min

Choosing an Ecosystem Partner
As the channel evolves from a sales support system to an entire sales ecosystem, companies, especially SaaS companies, seek partnerships to build robust channel ecosystems. How should you, as a SaaS company decision-maker, venture into a fruitful partnership right from the start? Here are some things you should consider:

Choosing an Ecosystem Partner: Evaluation Criteria

  • Increase Customer Dependency
Global customers are a part of a subscription world where they buy a product or a service every month. So, an ideal partner needs to drive customers to adopt, integrate, and stick to your product with constant interest.
  • Have Similar Business Values
Choose a partner who has the same business values as you. A business that prioritizes customer trust should make it to the top of your prospective partner list.
  • Prioritize Customer Satisfaction
A partner who understands how customer satisfaction trumps customer acquisition would be a great choice. Partnering with companies that deliver the highest and most consistent levels of customer satisfaction even when things seem out of control (read: recession or some business stutter) can never be wrong for your business.
  • Recognize Customer Preferences
Over time, customers might not be inclined to spend heavily on new licenses. Instead, they may focus more on using what they have to address their business problems. Choose partners who understand this shift and can help you keep such customers engaged.
  • Cater to Business Buyers
SaaS solutions are business buys. Therefore, partners who make your solutions look lucrative to business customers should be a part of your ecosystem.
  • Open to Scale
Channel partners who can scale to match your business growth and customer needs create a conducive environment to plan and execute expansion strategies confidently.
  • Swiftly Adapt to Change
An ecosystem founded on advocacy, brokerage, consulting, and partners with an attitude to adapt to change creates business outcomes that exceed expectations.

Channel Ecosystems are Evolving

Channel ecosystems in the IT world are evolving from their rigid, defined lines to malleable, open, adaptive ecosystems so partners can sell vendor products and services with greater value and consistently achieve customer satisfaction and revenue.

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