B2b Marketplaces A Step Above The Traditional Trade Model
Gone are the days when you had to search Google and scan through endless links and web pages to find a decent service provider for your business
. Also gone are the days when you needed to rely on friends and family in the hope someone had used a good service provider of the type you needed.
The Internet has brought us a long way. Now, businesses can use social media and forums, and blogs to help them in business. Even more importantly, the coming of high quality B2B marketplaces has intrinsically changed the way business is done.
B2B marketplaces (or Business to Business Marketplaces) are online portals that serve to bring together businesses from around the world so that they can interact with one another and form profitable business alliances. Buyers in search of products of services can contact potential service providers and decide on the most competitive option. Similarly, suppliers and service providers can market and sell to buyers truly interested in their business offering.
Unlike B2C (Business to Consumers) platforms, B2B marketplaces aim to foster transactions between businesses themselves. Those businesses may be wholesalers, retailers, manufacturers, suppliers, government agencies or even entrepreneurs who seek to market their products or services or need the other businesses products or services for their own businesses.
How is B2B Marketing Different from Traditional Trade Models?
Targeted Audiences
With traditional trade models, service providers have used channels such as TV and print media to advertise their products and services. On the other hand, with a B2B marketplace, service providers can simply list their business under relevant industry and/or geographic categories. This ensures a stream of highly targeted traffic because buyers only check for service providers they need under those relevant categories. The more highly targeted the traffic is, the greater the chance of a service provider finding buyers for their products or services.
Bidding for Projects
Some B2B marketplaces offer an online bidding system. This sort of platform will let a business who is trying to find a certain type of product or service, post a RFP or RFB (request for bid) or list their project requirements setting out the kind of products or services that they are looking to find. Other businesses (i.e. service providers looking for work) can then place bids on those requests for bid. The service provider sets out in its bid the price and terms upon which it is willing to do the project. The bid that most appeals to the buyer will get the deal. . This type of online bidding system allows service providers to tailor their prices and terms according to the particular project.
Free Advertising
When a service provider registers on a B2B marketplace, they are ordinarily are alloted a unique Profile page on which they can advertise their business, including the type of products and services they sell. In some cases, there is even room display special offers and discounts that they might have. Many B2B marketplaces are free to join and so there is little reason why a business would not join and advertise their business on a Profile page. Effectively, the B2B marketplace is giving the business free advertising space! In addition, many B2B marketplaces sell banner space on their websites that businesses can buy in order to further increase their visibility on the website. This could be particularly useful if the banner ad is put on industry specific pages that correspond to the business industries.
Social Media Dialogue
Quality B2B marketplaces have inbuilt forums, blogs and discussion boards where you can initiate or take part in an ongoing conversation. This is an excellent way to participate and show your expertise and knowledge about matters in your industry. This sort of participation can often draw attention to you from potential customers who are more likely to place increased trust in your business. As with social networking sites, having your name and business on B2B marketplaces means you are more likely to get contacted from potential customers and expand your business network.
All of the above features promiseenormous advantages and in the current Internet era, arguably, are more effective than traditional trade and advertising models. It is essential to keep pace with the changing business environment in order to survive and succeed in this competitive era. And your first step starts with registering on a B2B marketplace! Get your business out there!
Disclaimer : Sabra Easterday is the owner and founder of MatchB2B (matchb2b.net). Sabra is also a lawyer with a special interest in business issues and e-marketplaces. Notwithstanding that Sabra Easterday is a lawyer, nothing in this article and no services of MatchB2B or its website are legal services and no attorney-client relationship exists between any reader of this article or user, customer or potential customer of MatchB2B, and MatchB2B, its website or Sabra Easterday.
by: Sabra Easterday
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