subject: B2b Marketplaces The New Way Of Doing Business! [print this page] Business-to-Business Marketplaces, popularly called B2B Markets are changing the face of online trading. The traditional modes of advertising and marketing have given way to the new wave of B2B marketing that presents a multitude of benefits for the buyers as well as the service providers.
What is a B2B Marketplace?
A B2B Marketplace is an online platform where entrepreneurs, businesses, companies and agencies all come together, connect with one another and do business transactions.
There are two (2) kinds of businesses in B2B Marketplaces Buyers & Service Providers
The Buyers are not consumers or end-users. Rather, they are businesses themselves that seek the services of other business units. Anyone... be it wholesalers, retailers or other such traders can seek to buy products and services from others. Service Providers are the businesses that sell their products and services.
B2B marketplaces act as search engines where businesses or individuals can search for potential service provides and browse the databases to find one that best suits their needs and requirements. Unlike B2C (Business to Consumers) platforms, B2B websites bring together manufacturers and suppliers belonging to various industries from across the world to one place and promote mutually profitable business alliances.
What is the Need of a B2B Marketplace?
Gone are the days when businesses and professionals used Search Engines like Google to find potential vendors and service providers. Not only do search engines fail to deliver specific information about work related queries, but it also is a tedious job to scan through all the search results. A keyword-based search provides diverse results in the form of scattered information from several websites and blogs on the Internet.
With B2B Marketplaces, all the required business information can be found under one roof and that, too, is organized in perfect order. These websites understand the needs and requirements of their community and design the search activity in such a way that it makes users reach the desired information easily and effortlessly.
Benefits of B2B Marketplaces
For Buyers
With no barriers of geographical distances, buyers can get access to new vendors and service providers from across the world and find the one that best suits their needs.
Buyers can compare the costs of products and services offered by different vendors and choose the most competitive option.
Not only do the online transaction procedures serve to reduce the costs of transaction, but they also save a great deal of time.
Established B2B websites only include credible businesses listed with them. Thus, buyers can be assured about the quality of deliverables that they would receive.
For Service Providers:
Registering businesses on B2B websites take them on a global level and attracts buyers from across the world. This is an excellent opportunity to market the products and services on a global scale and explore new markets.
Online marketing is more effective than traditional mediums, especially considering the increasing number of population that is adopting the web as their primary means of doing business.
B2B portals also include forums and discussion boards where you can browse through the latest industry new and connect with individuals on a personal level. This is another excellent opportunity to expand your networks.
by: Sabra Easterday
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