What are B2B Marketplaces and why they are the future

July 02, 2020
What are B2B Marketplaces and why they are the future

B2B Marketplaces are similar to any ecommerce or product led shopping site or platform that you may have used. The difference being that the focus is on B2B products & services along with an ability to directly connect business members & suppliers with an audience of potential buyers online and offline. These buyers search, compare, engage or purchase from these members & suppliers in one destination. In addition to this, the B2B marketplace allows business members & suppliers to manage this channel via their own account.

If you are a B2B supplier, online B2B marketplaces are becoming a more important channel to make your products or services more easily accessible and easier to discover. Whether you’re a supplier or a buyer, using an online B2B marketplace should be as easy as using any online shopping platform. Business members and suppliers can maximise this channel at very low cost, resulting in increased distribution and more B2B customers. The nature of B2B also means that acquiring a new customer can result in a very high yield.

One of the key factors for B2B buyers using marketplaces is that the most efficient manner to engage suppliers in a meaningful way. It saves you time and often can save money.

Historically, B2B sales & marketing has been an expensive process - engaging the market, generating new leads, managing the sales journey of a prospect and then closing the sale is time consuming and costly; and this is before servicing the client. Content marketing plays a critical role and making this content accessible in channels such as B2B marketplaces will become even more important. Building reputation, trust and relationships has always been one of the key steps for a sales prospect and via marketplaces it allows that trust and reputation to be built in a manner that is independent and engaging. Sharing case studies, information and content on other channels helps you expand the audience.

Make it easier to market & sell your products & services, make it easier for B2B buyers to discover and engage with your brand, product or service. Use the efficiency of having your own digital storefront in a community of B2B buyers & sellers and leverage the independence and reach of a B2B marketplace.

With today's ever changing and uncertain environment, distribution & accessibility is key and B2B marketplaces play a pivotal role in supporting your sales & marketing activities in the future.

The Melbourne Network is a dedicated B2B Marketplace connecting business members to enhance commerce and drive commercial outcomes. Sell any product, service and event or market your brand and offering to a targeted B2B audience.