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Building Partnerships to Own a Vertical

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SaaS Connect 2018 (San Francisco, CA).

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VIDEO: https://youtu.be/xMFVKcUi5Aw

Building Partnerships to Own a Vertical
by Alex Fala, CEO, Vend

Published in: Marketing
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Building Partnerships to Own a Vertical

  1. 1. 1 Winning a vertical with partnerships Alex Fala CEO, Vend
  2. 2. Customers: - SMB retailers - 20,000 stores - Median = 1 store, Max > 100 Product: Point of Sale +++ Partners include Apple, Xero, Square, Vantiv (now Worldpay) Team: 220 people in Auckland, Melbourne, Toronto, London, SF Capital: raised ~US$45m
  3. 3. What is POS? Pile of s**t Point of Sale
  4. 4. It all started with a guy who wanted to make the world a better POS Smashed cash register pic
  5. 5. How we built our partnerships strategy 1. What is the solution that our customers need, beyond just our product?
  6. 6. InventoryCustomers Payments Social Marketplaces Customer apps Sales Insights Finance RapidchangebranchesofnewretailCorerootsofretail loyalty Loyalty Ecommerce
  7. 7. How we built our partnerships strategy 1. What is the solution that our customers need, beyond just our product? 2. Talk to partners (+ some dumb luck)
  8. 8. How we built our partnerships strategy 1. What is the solution that our customers need, beyond just our product? 2. Talk to partners (+ some dumb luck) 3. How can we scale to $100m ARR?
  9. 9. Lesson 1: Think long term, Act now
  10. 10. Lesson 2: Act bigger than you are
  11. 11. Lesson 3: Beware of the anti-bodies
  12. 12. Option A: Big play/pivot Option B: Gradually build 1. BD below the radar + boilerplate termsheets + beg/borrow/steal other resource 2. Exec hire + more marketing support 3. Exec + BD + dedicated prod/mktg/sales + KPIs
  13. 13. Underlying differences: Size/Resources Vertical specific assets
  14. 14. Tip 1: Use us for what we have
  15. 15. Tip 2: And not (much) for other things
  16. 16. Tip 3: Make it easy
  17. 17. 2 Winning a vertical with partnerships Alex Fala CEO, Vend

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