Cannibalism
Noun
[canna-bal-izm]
Cannibalism (also called product or market cannibalism) occurs when a product released by a company competes for market share with an existing product of theirs. The new product "eats" demand for the old, reducing sales and profit of their existing product. Some amount of product cannibalism is expected with new product launches, and companies normally consider the financial risks and rewards of releasing new products carefully.
Cannibalism can result in overall positive or negative effects on a company's bottom line, and can be either intentional or unintentional. When it's intentional, it's referred to as a cannibalisation strategy.
Example: Leo's team released a new file sharing software, but it soon became apparent that the demand for their other file sharing softwares was plummeting in favor of the new release. They'd caused cannibalism by putting out a product that ate up demand for their other products.
.jpg)
The Ultimate Guide to Partnerships for Ecosystems in 2023
Noun
[cuss-toe-mur am-bass-a-der]
A customer ambassador is a satisfied customer who takes on a special role helping promote the company and its offerings to their peers. Customer ambassadors have experience with the product, believe in its value, and are willing to recommend it to others. They sometimes contribute to customer case studies, webinars, and other promotional activities for the company.
Customer ambassadors are an extremely important avenue of promotion since personal endorsements and recommendations are so highly valued in a buyer's journey. To spot customer ambassadors, look for successful, highly engaged customers who refer business to you.
Example: Kelly noticed a particular customer was the referral source for several new leads. She reached out to the customer and found they loved the product. Kelly invited the customer to participate in a webinar. Voila, a customer advocate!
Noun
[kl-owd mar-kit-play-ss]
A cloud marketplace is an online storefront run by a cloud service provider. It offers access to software applications to customers that integrate with or compliment the cloud provider's offerings. In the marketplace, customers can directly purchase and manage these cloud-based software applications.
You may hear cloud marketplaces referred to as SaaS marketplaces. Cloud marketplaces attract a significant amount of traffic; according to Gartner, enterprise customers buy over half of their services from cloud marketplaces. This makes them a key part of a successful go-to-market strategy for SaaS providers.
Example: A well-known cloud marketplace is the AWS Marketplace, where customers can purchase software that runs on the Amazon Elastic Compute Cloud.
Grow bigger and better with PartnerStack
Go all in with partnerships. Demo our platform to see how you can diversify your channel and scale revenue.
