Worried about your offline business becoming extinct? Dreaming about business growth and expansion but don’t know what to do? Then, you’ve come to the right place. If your business is failing or getting unnoticed in this era of digitalization, then probably your traditional “bricks-and-mortar” business is lacking an online presence.
To conquer new markets, future-proof your business and attain new customers, you should consider registering on a B2B marketplace.
What is a B2B Marketplace?
A B2B Marketplace is an online marketplace, which acts as a center or a common platform for business community where various seller and buyer companies, suppliers, manufacturers, importers, exporters, retailers, wholesalers, etc. connect with each other for selling and buying various products. To be precise, it is a digital marketplace where a business is conducted with another business in terms of a commercial transaction.
Major benefits of using B2B portals
Unlike established industrial leaders and big corporations, if you do not have millions of rupees in marketing, promotions and sales budgets, and you do not enjoy the same brand value as the mega business enterprises; fret no more! Most of these limitations are not as difficult to manage these days as they once used to be. The internet and some leading online B2B portals have simplified online business development to a large extent. Not using any B2B portal yet? Here are few major benefits you’re missing out on.
A small investment with high returns
Most B2B portals offer annual memberships at pocket-friendly prices and in return, you get complete access to their database of verified buyer and seller contacts. In addition to this, you also get several other features that simplify online trading. When you compare this investment with potential costs of other business development activities, the difference you will find is staggering. By using B2B marketplaces you get a much deeper knowledge about your target audience, their needs and you also save thousands of rupees annually.
A smart way to boost your search engine rankings
If you have a website then you surely need search engine traffic as well. Over the last few years, getting traffic from search engines has become more and more difficult. It now requires a lot of patience and considerable investments in different forms of online marketing techniques. However, using B2B portals, that invest heavily in SEO and SEM campaigns can be an easy shortcut to the first page of the most recognized search engine. By listing your business on these portals, you can use their search engine strength to your advantage and with minimum effort, you can redirect traffic to your company website.
Access to millions of buyers and sellers
One of the main advantages, of registering with a B2B portal, is the sheer number of buyers and suppliers that you can directly contact from all across the globe. Most of the suppliers and buyers you will find in a B2B website are active traders themselves and are looking for business opportunities just like you. So, the response rates are surely going to be much higher than the random listings available on the internet, that are anyway not reliable.
A great way to automate your sales
When you have access to an endless database of buyers and suppliers, you may face a little difficulty to identify and contact the right type of businesses. This is where a reliable B2B online portal can come to your rescue and help you automate your sales process. Using a B2B marketplace, you can configure certain keyword alerts and triggers to notify you every single time a buyer or a supplier posts a relevant product or business opportunity. You can follow certain companies of your interest and can get notified about their latest activities. A B2B portal can also help you filter out leads that are irrelevant for your business and assist you in focusing on the good opportunities with the highest probability of success.
An effective tool for business branding
Most SMEs face financial constraints when it comes to investing in marketing and branding activities. If you get your business registered on a B2B portal, you can cover this up to a great extent. As a member, you will get your own website, logo and product showcase along with higher rankings in the internal search results of the portal and this would definitely put you in direct competition with any of the prime companies of your domain present on the internet. B2B portals can also offer you an ideal opportunity to expand your business network with almost no additional charges.
Get listed on a B2B portal today and use this powerful medium for expanding your business and explore new opportunities.
Q. What are the advantages of B2B?
Ans. The following are ten advantages of a branded eCommerce site with a B2B engine:
- increased efficiency and productivity
- More clients
- increased brand recognition
- improved sales analytics capabilities
- Customer-focused experience
- Excellent customer service
Q. What is the impact of B2B portal on organizations?
Ans. It automates an organization's purchasing process, reduces transaction costs, improves inter-organizational coordination within the supply chain, strengthens relationships with business partners, and provides buyer organizations with competitive sourcing opportunities.