8 reasons why you should now rely on a B2B marketplace
Manufacturers and suppliers of the entire B2B trade must be prepared for the fact that their customers will establish a lean procurement process that is reminiscent of classic B2C online shopping. The entire supply chain requires a much higher degree of flexibility than was previously known. The move away from both the isolated and uncoordinated business processes and the growing customer demands contribute to the significant change in the company. For this reason, we have prepared 8 reasons for you, why you should choose a B2B marketplace right now.
Addressing new target groups and acquiring new customers
Acquiring new customers is a lengthy process in the company, which is particularly noticeable in the B2B area, because without customers there is no business. Especially in the B2B area, not only the sellers, but also the buyers are under enormous pressure. Most often companies rely on cold acquisition, i.e. the provider calls “potential customers”, to present their product or service. The process until the seller has been put through to the buyer and has had the chance to present his product or service is extremely time-consuming and has little chance of success.
Both sides want to get the best out of the deal for their own company, while both must comply with the requirements. The effort to find the right customer for whom your product is made is more like poking around in the fog. This is exactly why you as a seller should go to a marketplace. This is not only more practical and faster for your company, it also makes your future customers’ work easier and helps to reduce the effort on both sides to a minimum.
Great reach and popularity
Marketplaces often enjoy greater reach and popularity than the own catalog, which contains many products that are irrelevant to the buyer. While they have to search through different catalogs to find the right product, a marketplace allows them to search quickly using keywords. The buyer enters the keyword in the search, receives suitable results, clicks on the suitable product and sees all features such as graduated prices, availability and delivery time at a glance. You can then order and / or reorder in the desired quantities without any effort.
Facilitation of international goods buying and selling
Especially in B2B trade digitization is increasingly dominating our everyday work, including buying and selling. The opportunities to expand abroad increase the opportunities and minimize the risks with a marketplace. But why is that so? On a B2B marketplace designed for this purpose, you make use of both the visibility and the experience behind it. With a few clicks you are free to decide whether you want to take the step or not.
Testing your own product, price and market strategy
Are you in the process of developing a new product? In order to develop the right market strategy, you should know the market situation very well. At this point, it is essential to use the information already available on a B2B marketplace. There you can compare the products and their KPIs to find the best for your corporate strategy and product launch.
Less risk than selling through your own shop
Many are faced with the choice of either having their own online shop set up or signup to some B2B marketplaces. The story behind your own online shop could make sense for a company, but there is usually more to do, than you might think. When this comes up for the first time, a company needs a team to take care of the newly acquired area in the company. From concept, design, creation to data maintenance, content maintenance, optimization and marketing. What very few people know is that it usually takes years for the necessary visibility to be built up. The fact that your own online shop brings the results you hope for is usually only a wish.
Lower implementation costs
The development of a suitable interface for your own online shop is associated with time and running costs. If you intend to do this, you should consider hiring a good application developer. The latter must be able to develop the interface according to your specifications and, above all, must already know the two systems. The whole thing works a little differently for a B2B marketplace: An interface to a B2B marketplace is usually provided on request. You can use this to upload your products, update stocks and prices, and also take orders into your system.
Less maintenance and administrative effort than in your own online shop
Marketplaces are very popular, both among buyers and sellers. One reason for this is the minimal effort that has to be done on both sides. With just one account, the buyer can meet many needs in his company in a short amount of time, while the seller posts his articles, updates inventory and processes incoming orders with little effort. A marketplace is often described as a sure-fire success, not only because there is less effort to upload the products, but also because the maintenance, administration and marketing of the platform are completely relieved. With a well-thought-out marketplace strategy, companies can easily automate their internal processes, better tailor usability to the needs of their employees and gain new insights for the further development of their company.
Strengthening your own competitive position through greater visibility in the market
There are many reasons for a multi-channel strategy with several sales channels, but there are channels that should be given special attention: marketplaces. Thanks to marketplaces, the visibility of a company increases by far more than 50%. With less effort, you can generate significantly more leads compared to outbound marketing. By increasing visibility and reach, the sellers increase both traffic and conversion rates. At the same time increase the level of awareness of their own brand.
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