B2B marketplace: high commercial and digital stakes for a modern business

The different types of B2B marketplaces

To date, there are several types of B2B marketplaces:

• The e-procurement marketplace

This form of B2B marketplace, known as e-procurement, centralizes sellers around a large catalog of products or services: it is a horizontal marketplace. This allows buyers to source various products and services quickly and easily from sellers. Similar to a purchasing center, this B2B marketplace model allows buyers:

• To compare offers,
• And to seek the best prices, as suppliers are directly competing ; thus saving time and money!

• The e-commerce marketplace

Here, both buyers and sellers belong to the same industry, so the products revolve around the same theme: this is called a vertical marketplace. Just like on a mainstream e-commerce platform, the B2B e-commerce marketplace works through a shopping cart system, which buyers fill by turning to different sellers. This secure, structured marketplace is a tangible solution for sellers wishing to expand their audience by multiplying acquisition channels. It also allows them to eliminate the possibility of having their communication "parasitized" by that of salespeople from other sectors.

• The network marketplace

Here, the company can gather all its offers in one place. As for franchisees, partners and resellers, they take care of the distribution of the product catalog on the marketplace. Each stakeholder, whether he is a seller or a buyer, is a winner, with the opening of a new sales channel for the first and cost reductions for the second. The network marketplace works like a private circle. It allows the company and all its players to manage their business independently.

• The circular economy marketplace

Reuse, upcycling and recycling have gained momentum in recent years! The circular economy marketplace is in tune with the times. It allows companies, for example, to sell their stocks, to offer their unusable products for recycling and reuse, to resell or rent second-hand equipment, etc. On one hand, his economic model allows generating additional profits on the seller's side. On the other hand, the buyer can spend only according to their needs and budget.

• The digital transformation marketplace

The perfect tool for the digitalization of the company, this B2B marketplace is a gateway to the digital world. In fact, online shopping has become a consumption habit in its own right. Thus, the digital transformation marketplace allows sellers to increase their audience, traffic, conversions and of course, to modernize.

What are the advantages of creating a B2B marketplace?

By opting for the creation of a B2B marketplace, the company wins on many fronts:

• A high level of trust

Due to the presence of verification process, the level of confidence in the B2B marketplace generates a high level of trust during negotiations and transactions.

• Real customer service!

For both buying and selling on a marketplace, each party can rely on a support system for all questions relating to products, transactions, payments and delivery. This considerably reduces the weight generally generated by logistics and administrative processing, and therefore costs.

• Greater openness for the company

As an economic ecosystem, the marketplace allows the company to expand its horizon through new partners and potential business collaborations.

• Exponential growth

The B2B marketplace is the ideal opportunity for the host company to offer a paid hosting service to providers of complementary products or services from outside.

• A more precise and varied response to customer requests

The marketplace for professionals allows the company to diversify, for example, by adding additional services to its products and vice versa.

• Opening up to the international market

Accessible 24 hours a day, 7 days a week, the B2B marketplace enables the company to meet the needs for products and services anywhere in the world. It allows the company, for example, to partner with foreign service providers (sellers, salespeople, suppliers...). Saving time, spending less on commercial and legal skills, making financial savings… This option gives the company the possibility of expanding without embarking on a costly internationalization process.

• A constantly updated database

The business can innovate with the customer and behavioral data it collects. When clear and available for analysis, this information helps:

• To optimize the purchasing path,
• And to offer unparalleled customer service or even personalize offers.

Why create a B2B marketplace?

In an era where digital transformation is a strategic issue, the company must overcome its fears and work to preserve its brand image: this requires the implementation of a talking tool, the B2B marketplace.

While doubts can naturally remain, according to a report by international strategy consulting firm McKinsey, COVID-19 has triggered an unprecedented digital transformation in the B2B market. In fact, 80% of buyers who have taken the plunge do not plan to return to traditional sales channels, including after the pandemic.

In other words, the creation of such a marketplace will benefit your company in several ways:

• Save time,
• Improve user experience,
• Obtain tools for the analysis, management and automation of certain processes that have so far required human intervention, and therefore avoidable expenses.

 How do I create a B2B marketplace for my business?

The goal of such a project is to meet customers’ needs. To achieve this, it is vital for your business to offer them a B2B marketplace that matches your brand. It must also and above all, be able to meet their needs quickly, easily and at the best cost.

What type of marketplace will achieve this goal? What is the most appropriate technology for your buyers and sellers? Delegate the creation of your B2B marketplace to marketplace development experts! Esokia has several projects to its credit, to discover to inspire you: abana.mu, inspectforless.mu , as well as, allechant.fr.