Creating a B2B marketplace: how to go about it?

Have your B2B marketplace developed and launched by a specialized digital agency that masters these processes. Be aware, however, that before entrusting them with your project, there are multiple factors to determine, in order to hit hard from the start.

First, determine the type of B2B marketplace you need. This requires detailed research to identify your target (suppliers and buyers) and weigh the value of your niche (the problems it can solve). In addition, consider the advantages of your future marketplace, analyzing the market and the offers of your competitors.

You don't have to do this thinking alone. A digital agency such as Esokia will be able to support you every step of the way. Check out these steps…

• Validation of your idea

 

This step is essential in the development of your project, in order to avoid many errors. Organize a meeting with your partners. This will allow you to consult them and make the right decisions.

Estimate how often you would use your product. Collect feedback from a few potential users to find out their opinion. Ask them if they understand what your market is for. Additionally, determine the size of your market.

• Project planning

 

Each company undertakes the planning phase in its own way. However, as a general rule, this includes developing:

• a list of requirements created by requirements analysts;
• a market research report, technical requirements;
• user stories and models;
• a detailed estimate where each feature is indicated with the development time;
• define your traffic estimates on your service in order to size the necessary hosting infrastructure.

 

When everything is done and agreed upon, the development process can begin.

• The marketplace development process

 

A marketplace can be developed using 2 methods: either, built from scratch or using ready-to-use platforms. Your selection depends on your means. If you are on a very tight budget, you'd better use ready-made platforms, and you won't need to pay for additional UI/UX.

However, if you want to create an innovative marketplace that will be quite special in its kind, you should spend more money for development from scratch.

• MVP Features

 

An effective marketplace must make life easier for suppliers, promote the shopping experience, provide reliable payment systems and take into account security and confidentiality. It is recommended that these features be part of your project's Minimum Viable Product (MVP).

Other features may include the ability to trade with vendors/vendors; to publish opinions or notes and to share on social networks.

• The start-up phase of your project

 

The inception phase is a unified process of gathering project goals and preparing for the development phase. The start-up phase brings the following advantages:

• Being able to predict the results. Your project into smaller parts called use cases and user stories to clarify how either feature should work, then confirm the results with you;
• Provides flexibility in project scope. With an overview of your project at your fingertips, you can easily change the MVP scope of the project;
• Reduces development costs. Project specifications, architecture and agreed technical solutions allow the project to be described in more detail, tasks to be prioritized more efficiently and the development phase to be better planned.

 

• The launch phase of your project

 

The experts from the digital agency you have chosen are able to submit deliverables to you during the launch phase. For example :

• The technical documentation structure for the MVP phase

 

This documentation covers the MVP scope and includes the requirements and constraints raised; the definition of the use cases of the solution, as well as written recommendations on the architecture of the solution and decision options.

• Preparatory workshops and design

 

These workshops are used to work together (the client, the technical team and even end users) and to consult on the different aspects of the future marketplace, both in terms of functionalities, user paths, assortments of products and services, payment methods and logistics.

As a result, the project is developed collaboratively, during certain phases. The design is thus facilitated by these preparatory workshops.

• UI/UX prototypes

 

The UX/UI designer will create 3-4 screens of design proposals or evaluation reports of existing designs.

• Setting up the hosting infrastructure

 

The web development agency is able to set up a hosting infrastructure for your B2B marketplace. She will choose the best option based on your needs and growth prospects. E-commerce hosting is an online hosting platform serving an e-commerce website, which includes features such as payment processing services, security initiatives, SSL, etc.

Several hosting options are available, including SaaS (Software-as-a-Service), IaaS (Infrastructure-as-a-Service) and cloud hosting, based on a PaaS (Platform -as-a-Service).

• The launch of your marketplace

 

When all the user stories are ready, the final demonstration of the project is carried out in person or by videoconference to show you the results of our work.

If you are satisfied with the results, that is to say that you have accepted the project, then all access, databases and other data related to the project are provided to you.

B2B marketplaces: count on Esokia's know-how!

• The Agile-Scrum method in web development

 

A digital agency such as Esokia will apply the Agile-Scrum method to develop its clients’ IT and digital projects. This method of project management relies on the ability to include changing requirements as the project progresses; while encouraging regular feedback from end-users of the product and customer involvement at every stage of the project. In addition, it promotes intra/inter-team collaboration; accountability of each actor in the project and better communication between all stakeholders.

• The team needed to build your marketplace

 

Generally, a team should include specialists who will make your project a reality:

• A project manager;
• Web developers (front-end and back-end specialists);
• A UX/UI designer;
• QA (Quality Assurance) engineers;
• A needs analyst.

 

• The development phase by applying the Agile-Scrum method

 

Instead of developing a massive part of the project and carrying out complete tests, we develop a small part of the functionality of your project in a single iteration (from 1 to 2 weeks). Then our team performs tests, fixes bugs and shows you the result in a demo call. Our next step is to upload a small part of the project to the production environment.

Iteration by iteration, we ensure that all code is bug-free and working properly.

• The application maintenance of your service through a TMA contract

 

After creating your B2B marketplace, you have to think about its evolution. Continue to develop your marketplace by delegating the corrective, preventive and evolutionary maintenance of your software, applications, website, e-commerce site or mobile application to a digital agency such as Esokia.

Through Third-Party Application Maintenance or TMA with an SLA (Service Level Agreement) you maintain your business applications, website or e-commerce. Application maintenance services guarantee:

• Scalability;
• Security ;
• Freedom ;
• Availability and visibility;
• Proactivity.

 

• Developing your online presence with digital marketing activities

 

We can help you promote your marketplace by performing your natural referencing or SEO (Search Engine Optimization) targeting unpaid traffic; and/or paid referencing, either SEA (Search Engine Advertising), Google Ads (Adwords) or Pay-Per-Click (PPC) advertising.

• Examples of B2B marketplaces developed by Esokia

 

Find out about the marketplace projects we have

• The B2B Marketplace of Inspectforless
• The Abana B2B Marketplace