Becoming a Sticky ISV
Introduction
Breaking into a new channel as an Independent Software Vendor (ISV) requires more than just offering a great solution. Success in this space demands a strategic approach and consistent discipline to become a recognized and reliable partner among publishers, resellers, and customers. The journey to becoming a "sticky" ISV—one that resellers and customers turn to repeatedly—starts with a deep understanding of your target market, clear communication, and adaptability throughout the sales process.
Know Your Customer Base
Your solution can't be all things to all people. To truly gain traction, it's essential to know precisely who your product is for—and, perhaps more importantly, who it isn't for. This clarity allows you to target your efforts and resources where they'll have the most impact.
Build a Buyer Persona
A key step in understanding your customer base is developing a detailed buyer persona. This persona represents your ideal customer, helping you focus your marketing and sales efforts. If you’re unsure who makes a good fit for your product, potential resellers will likely know. By clearly defining and communicating your ideal customer, you achieve two important outcomes:
Establishing Expertise: Position yourself as an industry expert who has identified a specific need for a particular type of business and has developed a solution to address it. This not only builds credibility but also instills confidence in your resellers and customers.
Simplifying Sales for Resellers: When resellers understand exactly who your product is for, it becomes easier for them to identify and pursue the right opportunities. This clarity reduces friction in the sales process and increases the likelihood of successful deals.
Identify Essential Discovery Questions
Once you've defined your buyer persona, the next step is to develop a set of essential discovery questions that can quickly qualify or even disqualify a deal. These questions should be framed in a way that even a reseller or account executive (AE) who isn’t an expert in your product can use them effectively.
The goal is to create a short list—something that could be answered in a single email or a brief conversation. You don’t want to overwhelm your prospects with a lengthy questionnaire that could become an obstacle. Instead, focus on a few key questions that will help you and your resellers quickly determine whether a potential customer is a good fit for your solution. This approach not only streamlines the sales process but also ensures that your time and resources are spent on the most promising opportunities.
Have Transparent Pricing
Transparency is crucial in building trust with both resellers and customers. Make sure your pricing is clear, straightforward, and easy to understand. Complicated pricing structures can create confusion and hesitation, which may cause potential customers to look elsewhere. By offering transparent pricing, you make it easier for resellers to pitch your product confidently and for customers to make informed decisions.
Moreover, transparent pricing helps you avoid unpleasant surprises later in the sales process, which can lead to friction or even lost deals. By being upfront about costs, you set clear expectations and foster trust, making your product more attractive to both resellers and customers.
Be Flexible and Opportunistic in Sales Cycles
While it’s important to have a clear strategy, flexibility can be a significant asset in the sales process. Sales cycles can vary widely depending on the customer and the complexity of the deal. Being able to adapt to different timelines and circumstances can give you a competitive edge.
Look for opportunities where you can add value or differentiate your solution, even if it means deviating slightly from your original plan. This might involve customizing your solution for a particular customer, offering a pilot program, or being open to unique partnership arrangements with resellers. Flexibility doesn’t mean abandoning your strategy; it means being responsive to the needs of your customers and resellers, which can lead to stronger relationships and more successful deals.
Conclusion
Becoming a sticky ISV in a new channel is about more than just having a great product. It requires a deep understanding of your target market, clear and transparent communication, and the ability to adapt to the unique demands of each sales cycle. By building strong relationships with resellers, offering transparent pricing, and being flexible in your approach, you can position your solution as a go-to option for customers and resellers alike.
As you continue to refine your strategy and grow your presence in the channel, remember that success is a journey, not a destination. Stay focused, stay flexible, and keep your customers’ needs at the forefront of everything you do. With the right approach, you can become a trusted and indispensable partner in the industry.
