Optimize your AWS Marketplace listings for better conversions (PEX216)

Scaling Your Conversion Rate on AWS Marketplace: Best Practices

Introduction

  • The speaker, Salvador, is the product lead for the buyer experience on AWS Marketplace.
  • AWS Marketplace receives millions of visitors every year, and customers are looking for solutions.
  • The opportunity for sellers is to create conversations with these customers and help them reach their desired solutions faster.

Product-Led Growth Strategies

  1. Shorter Sales Cycle: Product-led growth strategies can provide a shorter sales cycle.
  2. Lower Customer Acquisition Cost: These strategies can lower the customer acquisition cost, allowing you to scale to more customers profitably.
  3. Better Customer Experience: Product-led growth strategies can provide a better customer experience for those who need software quickly.

Improving Product Discovery

  1. Discoverability in External Search Engines:

    • 95% of clicks originate from the first page of external search engines.
    • Majority of clicks go directly to the product detail page.
    • Ensure your product listing has the right keywords and meta-information to rank well in external search engines.
    • Add backlinks to your product to improve indexing depth.
  2. Discoverability on AWS Marketplace:

    • The top 5 search results capture the majority of clicks on the Marketplace.
    • Optimize your product title, vendor name, keywords, highlights, and descriptions to improve search rankings.
    • Leverage Marketplace features like free trials, vendor insights, and standard contracts to enhance discoverability.

Facilitating Product Evaluation

  1. Providing Engaging Content:

    • Ensure your product detail page has rich media and use cases.
    • Partner with AWS Marketplace to develop these assets.
  2. Pricing Clarity:

    • Offer clear and easy-to-understand pricing options.
  3. Self-Service Features:

    • Offer features like demo requests and private offer requests to enable self-service interactions.
    • These features generate leads that are shared back to you through the AWS Customer Engagement Portal.
  4. Comparison Tools:

    • AWS Marketplace has introduced a generative AI-powered comparison tool to help customers compare products quickly.
    • Ensure your product detail page information is up-to-date to leverage this feature.

Streamlining the Procurement Process

  1. Free Trials:

    • 94% of customers consider free trials important, and 25% won't buy without one.
    • Offer free trials to remove barriers to entry and increase conversion rates.
  2. Consumption-based Pricing:

    • Customers prefer a gradual evolution from free trials to consumption-based (pay-as-you-go) pricing.
    • This approach has a 3x higher conversion rate than moving from free trials to a contract.
  3. Self-Service Procurement:

    • Offer both self-service and private offer options to cater to different customer preferences.
    • Millennials, who are increasingly the decision-makers, prefer self-service procurement.
  4. Vendor Insights:

    • Vendor Insights feature helps streamline the security review process, reducing the procurement cycle by 8-10 weeks.
    • Share your security profile and certifications through Vendor Insights.
  5. Standard Contract:

    • Offering a standard contract can reduce the procurement cycle by 80%.
    • Ensure your customers are aware of the standard contract option.

Conclusion

  • The speaker encourages leveraging the provided resources and providing feedback through the mobile app survey.
  • The goal is to build together and get more customers to engage with you as a seller on AWS Marketplace.

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