Updated on by Hayley Brown
At the start of 2021, we decided to start reaching out to fellow SaaS Platforms that had a multi-vendor marketplace. Ideally featuring product and service categories for integration and automation providers.
Why did we do this? We’ll explain, but first what is a SaaS marketplace?
It is somewhat similar to that of Apple or Google’s app stores but instead consists of SaaS applications. The online marketplace host tends to be a larger SaaS organisation. Good examples include Salesforce, MailChimp etc. with a large established audience. The multi-vendor marketplace is a searchable database for users to explore. There they can read more about different SaaS applications listed, start a trial or even purchase.
A common feature for online marketplaces is for there to be either a new or pre-existing integration with the host’s platform. When considering which SaaS marketplace platform to join there are several things to take into account. Especially, when building an integration and which marketplace is best suited to your product or service. You also need to understand how you can build an integration with the host. This will help give insight into which will provide the most benefit to existing and potential customers.
Benefits of teaming up with other SaaS Marketplaces
We decided to start reaching out to several SaaS multi-vendor marketplaces. This is because of the numerous benefits they provide to an online integration provider.
- Exposure to larger audiences and raising your profile
The host of the marketplace for SaaS products is typically a large enterprise, that already has a well-established audience. This means that your listing will gain more exposure from its existing customers. You’ll also benefit from more business because of the association with the top SaaS marketplace, over those who are not integrated.
- Co-marketing opportunities
Depending on your SaaS product and the multi-vendor marketplace you are seeking to join there could be co-marketing opportunities. If for instance, they are already a customer of yours or vice versus. As well as if your products and/or services complement each other. Also if the integration built between the two SaaS platforms has multiple benefits for not only existing customers but new potential users and is highly worth promoting.
- Trust factor
Being included in an integration service within a SaaS marketplace can also validate your product and service. If potential customers use the host marketplaces they are more likely to view their recommendations or listings as trustworthy. As well as useful applications that aid the ease of buying.
- Customer acquisition and diversity
Being exposed to a much larger audience may see an increase in your customer acquisition. Customers are able to view your SaaS listing, with images, videos and details about the integration. You are able to include links to a landing page. This encourages new users to sign up for a free trial, get in touch or even purchase.
Not only can it help with customer acquisition but also increase the diversity of your customer base. Especially from those who you would not necessarily be targeting, or those who operate in a different market.
- Additional marketing channel
Not only are there co-marketing opportunities, but you should treat your integration profile within the SaaS marketplace as an additional marketing channel. With most integration marketplaces they are a free opportunity to test copy and headlines. As well as post updates, and provide ‘how-to’ guides for potential customers. This gives them a unique insight into your SaaS application.
As well as that, there is an additional SEO benefit from using the SaaS marketplace as a stand-alone marketing channel.
- Greater transparency due open environment
There is an element of transparency within a SaaS application marketplace due to integration service providers being listed side by side with competitors. For instance product offers, pricing, and reviews, are all accessible within the marketplace environment. This can help the customer make an informed decision and compare products and/or services easily. If you rank high above your competitors within your category this is beneficial to you.
- Additional revenue stream
Finally, joining a SaaS application marketplace can provide an additional revenue stream. With a large customer base viewing the marketplace it can open up new revenue opportunities from previously unlikely customers. As well as that, many online marketplaces are free to join, and will only cost you a little time in the initial set-up and in maintenance.
So how did we go about finding the right marketplaces for us? Firstly, we went through our Connector Library where we have over 400 API Connectors and filtered out online marketplaces we already featured on. Then listed our desirable marketplaces, those which only needed a short profile. Others will need a developer to help with the integration and API, and so on. As a result, this helped us divide up and choose which marketplaces would be a good fit for Cyclr, and demonstrate us as an integration provider.
We’ve listed some of the multi-vendor SaaS marketplaces we’ve joined. As well as some other top SaaS marketplaces that are well worth considering.
Salesforce is probably the most widely known SaaS or CRM. They have a vast marketplace or app exchange with various searchable product categories. You also have the ability to offer your solution on their partner programme marketplace, resulting in being listed in their app exchange.
Typeform, a leading provider of interactive forms, also has a marketplace. They make it easy to add your SaaS application through their product partner initiative. All you need is a Typeform integration.
Other popular online SaaS marketplaces include:
- Campaign Monitor