Both direct and marketplaces have similar outcomes. However, the strategies and techniques followed by both these platforms are completely different from one another. In B2B marketplaces, all the companies will sell their products on a single platform while in direct B2B platforms, each company will set up a dedicated portal for selling their products.
B2B Marketplace Strategies
A B2B marketplace is a common platform where all the buyers and sellers are able to interact with one another and carry out their business. The best B2B marketplaces are designed in such a way that the buyers are at an arm-length distance from the sellers. All the important aspects of transactions like negotiations, contract settings and pricing are carried out in an extremely smooth manner. B2B marketplaces have become so popular over the last few years that the global E-Commerce revenue has almost doubled itself.
A recent survey which included buyers from a wide range of industries has stated that over 48.3% firms purchase various products from online platforms at least once a week and 16% of them purchase products multiple times a week. The survey also stated that with time, most B2B buyers are shifting to online methods of purchase. This shifting is mainly because of the fact that we belong to a digital era and everything around us is getting digital at a very fast rate.
What are the advantages of B2B marketplaces over direct B2B platforms?
B2B marketplaces are especially useful for small businesses who are yet to establish themselves completely. These marketplaces will provide users with an amazing experience. B2B marketplaces have loads of advantages over direct platforms a few of which have been listed below:
- B2B marketplaces provide excellent visibility which makes it easier for both buyers and sellers to conduct their business.
- You will be provided with a custom search option using which you will be able to search for the exact product that you are looking for.
- The sellers will be able to advertise their products easily by using Classifieds. This will allow them to fall to the notice of the buyers.
- All the transactions can be performed and managed at a single place.
- B2B marketplaces maintain complete transparency between the buyers and sellers. This eliminates all kinds of confusion.
- Only the verified buyers and sellers are allowed to become a part of the marketplace.
- The marketplace will give you the opportunity to get in touch with global traders.
- The B2B marketplaces are packed with interesting tools and features which are specially meant to improve customer experience.
- The marketplace platforms are completely optimized to provide excellent loading speed and prevent any kinds of delays.
- You need not have to travel to far off places to get your hands on the products that you are looking for.
So, as we can see, a B2B marketplace is an excellent platform for both buyers and sellers. It makes the entire task of buying and selling a lot easier and also provides a personalized experience to the users.