How to Stand Out in Today's Cloud Market
SunGard Availability Services - Cloud Series, Part VI
Hint: You can Partner, Build or Acquire...
Today's cloud market is packed with players—everyone is looking to grab his/her share of the opportunity an early majority market creates. Standing out in this type of environment can be challenging. However, you can build a competitive advantage. Here's how:
Invest in the right partnerships: Partnerships are a wonderful way to pair complementary offerings that drive joint pipeline and revenue. The key is to choose partners that are truly aligned to your organization from a technology, culture and support standpoint. Additionally, we find that the most productive relationships have executive teams that buy into the partnership and actively promote and nurture the relationship with field teams. Tip: You can find and evaluate your own partnerships or you can leverage formal partner alliance organizations such as TheAlliancePartners.com, Member-to-Member Commerce (M2MC) and 1NService.com to help you identify partnering opportunities.
Develop industry-differentiated, market-aligned products and services: Another effective way to grow your cloud practice is through the products and services you offer and the intellectual property you possess. Look at your customers' business challenges and innovate within their specific industries—and align your strategy with that of your partners. Consider the niche markets in which you have unique experience or skills and develop solutions aligned to them. These could include solutions for specific verticals (e.g., fintech, healthcare, etc.) or solutions that address other key customer challenges (e.g., regulatory compliance, security, resiliency, etc.). Also, look for the opportunity to develop approaches and applications that leverage your own intellectual property. Tip: Playbooks can be a great way to share a blueprint of your joint offerings and best practices so that your entire organization (sales, GTM, marketing, etc.) is on the same page and can swiftly take this new offering to market.
Consider acquisition opportunities: In addition to being strategic about the partnerships you're forming, consider accelerating your time to market and extending your reach into new or existing markets through acquisition. An early majority cloud market is ripe with opportunities. Tip: When considering an acquisition, consider the advice of Frank Coker, author of "Pulse": The most successful acquisitions have tight plans and measurements, leaving little opportunity for the process to unravel, and have a keen focus on delivering specific, visible and measured results, which keep everyone focused.