Today, digital transformation is more of a need than a trend. According to the International Data Corporation, the SaaS market grew by 24% in 2021 and is expected to grow into a 1.3 trillion dollar market by 2030. That's not even a decade away!
What does that mean for Zoho and for you as a Zoho Partner?
This means room for growth and expansion. Success for us isn't just about being around for more than 25 years. It's about crafting integrable, extendable, and customizable applications. It's about building trust with more than 75 million users around the globe. Most importantly, it's about working alongside over 3,000 partners who believe in us.
Zoho as an entity has grown by 77% in 2021. The Global Partner channel has doubled its growth since 2014, having seen a 36% growth YOY.
As a Zoho Partner, you have an opportunity to scale while deepening and broadening your expertise. What makes us sure about this is our fundamental advantage as a multi-product company. You are not just stuck with one product, and you can grow multifold by leveraging the access you have to existing customers.
The ability to expand into existing markets is a key growth driver for 2022. Engaging with customers to expand sales is important for sustainable growth, and as a partner, you could become closer than ever with customers. Depending on your region, you may have the chance to interact with customers beyond the virtual environment. Zoho is still working to establish new partner connections in many countries, so this could be your opportunity to capitalize on the first-mover advantage. The possibility to meet with customers in-person gives you a competitive edge as well.
The word "growth" can often imply seeking out new customers and new revenue streams. But we propose a different approach: increase your success by leveraging connections with existing customers. To do this, it's important to focus on renewal, cross-selling, and upgrades.
When customers renew their licenses, it's a sign of satisfaction with the quality of the product and services, as well as clear evidence of your implementation expertise. Increased renewal means lower churn rates and stronger customer relationships.
Cross-selling allows you to sell new product licenses to existing customers. Effective cross-selling leads to higher profits and can help cultivate deeper customer relationships. This can also lead to increased renewal revenue.
When existing customers upgrade from one licensing option to another, it not only drives growth but also proves that we have scaled and improved together. This, in turn, is an opportunity to cross-sell and keep renewal revenue strong.
Zoho's CSO Vijay Sundaram has highlighted this relationship through the following chart.
Zoho's COO Manikandan Vembu captures the above pointers in his advice to partners.
This year, apart from extensive product release updates and resources, we have lined up valuable training sessions and workshops for our partners. You can look forward to helpful, business-focused Inspire sessions!
What equips you for growth isn't just your proximity to customers. The key is your Zoho expertise, your business process knowledge, and your vertical market know-how.
Together, we can solve challenging problems and facilitate digital transformation for our customers. We're looking forward to an outstanding year of growth!