5 Key Takeaways from the Marketplace Summit UK: Maximizing Marketplace Success

marketplace summit uk, #MarketplaceSummitUK, We brought together more than 300 Microsoft partners, including ISVs, system integrators, and channel partners, to explore and capitalize on fast-growing opportunities within the Microsoft commercial market.

Below are five takeaways from the keynote address, which shared market opportunities and insights. jason luke– Senior Director, Market Channel Sales, Andy White– CEO of Medic Nick Ross– UK&I Channel Leader, Wiz, Amit Sinha– President and co-founder of WorkSpan.

market growth:

• The Microsoft commercial marketplace is experiencing significant growth, with revenue from ISVs and Fortune 500 customers growing nearly 100% year over year, especially in the UK. This reflects significant momentum and opportunity for our partners to expand their reach and impact.
• By 2028, cloud marketplaces are expected to generate $85 billion in revenue*, highlighting the importance of co-selling and collaboration between ISVs, channel partners, and enterprise customers to capture this growth potential.
  • *Hyperscale cloud marketplace revenue will reach $85 billion by 2028. Canalys, August 15, 2024

MEDDPICC framework:

• MEDDPICC stands for: middlemetric, Eeconomic buyer, ddecision criteria, ddecision process, bloodBy process, meidentify pain, aspirateHampion and aspiratecompetition.
• The MEDDPICC framework serves as a common language for co-selling across the entire customer lifecycle, streamlining communication, improving collaboration, and increasing the effectiveness of your sales strategy. Emphasizes understanding of customer pain points, decision criteria, and stakeholder engagement.

Multi-Party Private Proposal:

• Multi-Party Private Proposal Customers can purchase software through trusted channel partners, and ISVs can sell through channel partners, streamlining the buying experience and increasing sales opportunities. Currently available in the US, Canada, and UK. These services will be expanded to Western Europe and Japan.
• More than 90% of multi-party private offering deals come from channel partners interacting with customers.

Insights from Wiz’s Nick Ross:

• Commitment to Channel Partners for Growth: Wiz has adopted a global strategy of always collaborating with channel partners in customer engagement, viewing it as essential for expansion, customer retention and market expansion.
• Marketplaces as Key Growth Driver: With more than 90% of its revenue generated through cloud marketplaces, Wiz emphasizes that adopting a marketplace-centric approach accelerates deal cycles, improves customer reach, and is critical to continued growth .
• Wiz’s marketplace-first, channel-first strategy works closely with Microsoft and provides CSPs with early pipeline insights to accelerate scale, accelerate time to value for customers, and increase transaction efficiency. This integrated approach provides a roadmap to become a leader in market-driven growth by strengthening customer relationships and driving market expansion.

Ecosystem Integration and Insights – Discussion with Amit Sinha from WorkSpan

• End-to-End Ecosystem Orchestration: WorkSpan serves as a platform that connects ISVs, channel partners, and service partners with Microsoft and other marketplaces, enabling seamless co-selling, co-building, and integration with existing CRM systems for a unified experience. do.
• Enhanced Deal Velocity and Data Insights: By automating partner integrations and embedding marketplace processes into CRM systems, WorkSpan increases deal open rates and enables data collection on sales performance to deliver actionable insights in real time.

To learn more, you can watch the full keynote session here. What we learned at the Marketplace Summit: Maximize marketplace success

To keep everything up to date on Marketplace, follow these steps: