Distributor marketplaces
Together with this shift to subscription models, there is a parallel shift happening where B2B businesses are looking to digital platforms to streamline their procurement processes. They want improved efficiency and speed through self-service capabilities such as quoting, ordering, buying online and managing their purchases digitally.
Not only would a distributor marketplace add significant value to partners in helping them achieve improved sales processes, but it could potentially help them overcome some of the challenges they’re facing with the shift too.
When asked what the key benefits of a distributor marketplace would be, most partners (51%) said access to multiple vendors is key. This directly responds to their primary challenge in the shift to subscription and recurring revenue models which was managing multivendor product portfolios.
Of those surveyed, more than 60% believe that having a single platform to manage software and hardware would make business simpler for them.
Views on single platform experience
Respondents were asked to select one answer
Simpler
No difference
More complex
“A distributor marketplace that can truly help us manage the complex multivendor environment we operate in would be highly beneficial - not only for managing our complicated technology purchases but for helping us deliver long-term business growth. Plus, our teams have different needs so the breadth of capabilities is important. Simplified sales processes, self-serve capabilities plus the data insights and information we need to achieve Customer Success; now that would be a game changer.”
Mark Loparow, Director Business Growth, Truis, Australia
So, it makes sense then that almost half (49%) are already using distributor marketplaces which cements the perceived value to partners in these platforms. However, it seems that what is currently being delivered through these marketplaces points to essential transactional capabilities but there’s still a gap in terms of delivering the right data and enablement services to partners to enable real growth and Customer Success.
Distributor's marketplace usage
Respondents were asked to select one answer
Australia
UK
Of those who are already using distributor marketplaces, most can complete transactional tasks using self-service.
The opportunity in distributor marketplaces
Data in subscription and recurring revenue models is crucial in Customer Success. The right end customer data insights can be key to keeping end customers happy, help with upsell and cross-sells, and reduce the risk of churn. But delivering this data in a format that’s accessible, understandable and provides actionable insight is challenging.
When partners were asked how distributors could help with Customer Success, most (55%) said access to more customer data was most important.