B2B is a platform where the businesses interact with other businesses instead of customers. It is like one business is the customer of another business. There are tremendous opportunities for marketplaces that are able to identify and solve the productivity gaps in high-volume B2B transactions. In 2019, the size of the global B2B eCommerce market was valued at US $12.2 trillion. That is over six times the size of the eCommerce market in B2C.
Why investors love B2B marketplaces?
The B2B marketplaces tend to have both high frequency of purchase and high-priced transactions. That’s very rare to find in other marketplaces.
A survey revealed that 85% of the B2B companies realize that
e-commerce is a crucial revenue stream that they haven’t fully tapped into. According to Shopify, “Today’s B2B buyer has evolved. Instead of turning to traditional sources like sales reps and vendors, they now turn online.”
Therefore, it makes sense to invest in the B2B marketplace.
HOW B2B Model can Benefit from Online Marketplace?
A huge benefit of a B2B marketplace is the fact that it can minimize the total setup cost while growing revenue.By dividing different modules and processes for Clients, suppliers, order entry and customer services, B2B businesses can cut down on unnecessary costs and be more efficient than ever.
Get Customer Feedback
Clients base a buying decision based on positive reviews from other buyers, rather than promotional descriptions from wholesalers or manufacturers. Through a simple review, customers share their enthusiasm with other customers which in the long-run aids sales and the image of your business.
Improve Search Engine Rankings
SEO efforts can be tough, tedious and getting traffic to your website may be difficult at times. With an online marketplace, you can give our website traffic an instant boost which can help in improving sales.
An online marketplace is known to be an extremely low-risk solution as it incurs less budget in marketing costs and gathers thousands of leads for a fraction of the cost of traditional lead generation strategies. The development of B2B marketing strategies is exceptionally quick, simple and easy with a trade portal, which will maximize sales efficiently and seamlessly.
We at IdyaFlow believe that there is nothing that is impossible. You just need the right platform for it. If you are not the one who can manage coding and want a platform that is just ready to use, we can help you out. With our ‘no coding required’ software you can get a simple, secure as well as responsive platform for all your marketplace needs. Whether it is any B2B marketplace platform that you are looking for, we at IdyaFlow can help you with everything..
IdyaFlow features provide Admin and Supplier Portal to easily manage different verticals of B2B marketplace along with
Ratings & review,
External analytics for a seamless flow of your online marketplace and perfect to validate your marketplace idea.