Advantage of doing business in the B2B marketplace 

B2B marketplace is different from that of the direct market platform where wholesalers and distributors are involved. Marketing in the direct market platform differs widely from B2B marketplace Platforms. B2B marketplace is one big universal market where the buyers and sellers can purchase as well as sell their products or services. In recent times online selling has now become a new way to grow revenue as well as drive new customer acquisitions. But the experience that you can acquire by selling or purchasing a product and availing or providing a service online is highly different. When it comes to the B2B marketplace it is observed that the business needs to work hard for streamlining the buying process and for saving money and time. Purchasing in the B2B platform is mostly based on logic whereas the purchasing habit of the customer is mostly based on emotion. However, the B2B marketplace can give you some huge advantages which you will never get in the direct marketplace.

What advantages can you drive from the B2B marketplace?

The following are some great advantages that you can drive from the B2B marketplace:

  • B2B marketplace is twice as big as the direct marketplace or B2C marketplace. It is found in the research that that by 2021 B2B eCommerce will reach $1.2 trillion and it will also account for 13.1% of all B2B sales. Day by day more and more sales are shifting online. Apart from that, manufacturers and wholesalers who are currently relying on their homegrown system are slowing down and that is the reason why B2B buyers are now demanding them to shift to this modern process so that they can get a better experience. 
  • B2B marketplace has bigger order values and has higher conversion rates. In the present situation, it is observed that the B2B platform has grown to twice the size of B2C or direct marketplace platform. B2B platform has higher average order value and the buyers in this platform are much quicker to purchase. Apart from that, it is also observed that the buyers in the B2B platform also purchase in large quantities. Most of the time it is seen that the buyers purchase hundreds or thousands of items in one transaction. In recent research, it was found that the average order value of a B2B transaction is about $491 whereas the average order value of a B2C transaction is found to be $147.
  • B2B marketplace platform also experiences a faster order fulfillment since these platforms are now based on the cloud. Unlike the direct marketplace platform cloud base B2B eCommerce platform have a better order management system which has built-in software that can easily integrate with other software. In this platform, the sellers also get the advantage of syncing the order data across all their channels. Hence the sellers of this platform can easily leverage their system to automate order fulfillment as well as update their inventory and can handle all the complex processes such as partial delivery or multi-warehouse shipping.                                                                                                                                                                                                                                                                                            

 

 

    

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