Due to tremendously increased competition given by the popular online marketplaces like Amazon and Alibaba, it has become difficult for online businesses to sustain and grow themselves in the web based trading world. So they have to look beyond having a static or eCommerce website for promoting and selling their products. Their sole hope and future lies in becoming a part of a B2B trade portal
A B2B portal contains sophisticated features which can be customized to match the specific requirements of businesses. It helps to unite buyers, sellers and businesses. It enables businesses to communicate product-related information and perform purchase operations with ease. While the portal makes it easy for buyers to find the products they need, it enables sellers reach out to a bigger market. The use of the portal eventually lessens costs for all the involved players.
The B2B trade portals enable suppliers and buyers from a huge number of diverse industries to build strong and profitable business partnerships with each other, which help them in facilitating sales worth millions of dollars. Manufacturing, wholesaling and distribution-related businesses derive a lot of benefit from B2B trade portals. Product descriptions and reviews, overall feedback, personalized pricing, recall information, warranty, real-time order reports, integrations with inventory management systems and full profile information are some of the pretty useful features that exist in a B2B trade portal.
Now it’s time to list and describe the advantages of B2B trade portals:
- Better visibility
- Easy marketing
- Compete against established businesses
- Get quality leads
- Gather insights about products, domain and competition
- Avoidance of fraudulent business transactions
- Multiple payment options
- Enhanced experience for customers
A B2B trade portal provides quick visibility to a large number of businesses who are associated with the portal. It enables both new and existing businesses to reach out to users based in different geographical locations of the world and fulfil their needs. The portal helps businesses increase the sales of their products or services, decrease the seasonal selling of their products by diversifying customers and present themselves as a global brand.
This is specifically beneficial for small and medium sized businesses. With the help of a B2B portal, they are able to get visibility similar to that of established businesses without spending a lot of budget on marketing their brand and products.
Apart from taking care of their business affairs, businesses have to also deal with maintaining their website and managing their marketing, social media and SEO related activities. So it is not easy for them to do marketing in a proper and focused manner.
But by registering with a B2B portal, businesses get access to various inbuilt marketing tools and platforms like social media, email newsletter, discussions, etc., which help them to market their brand and products/services in an easy and effective way. These platforms help businesses reach a bigger global audience. Also, they are able to reach prospective customers in a more effective manner and in less time.
The businesses need to spend less investment in advance on marketing, so they are able to pass on the savings to their customers while still maintaining a good profit. This turns out to be a win-win situation for both the businesses and their customers. Also, the platforms are optimized for search engine optimization, which helps businesses get ranked better in the search engine result pages, thus bringing them more visitors, leads and customers.
The customer service provided by a B2B portal is outstanding which helps businesses compete with more established and resourceful businesses in their domain. So they need not spend a lot of time and effort and allocate more resources for raising the level of their own customer service. They can simply utilize the customer service provided by the B2B portal and gain from it.
B2B trade portals can provide a whole new world of opportunities for businesses. Apart from letting businesses reach a wider audience, they also enable them to segment, target and reach an extremely particular and niche audience. Thus, they are able to connect with serious and more qualified buyers.
The role of trade portals is not just limited to being an exceptional sales channel, but they are also useful for doing research about the industry and competitors. The presence of similar businesses in an industry can help a business gain valuable insights about the trends prevailing in the industry and the level of competition involved.
While customers derive benefit from stiff competition between businesses, this causes businesses to innovate their products in order to remain ahead of the competition. The portals also enable businesses to obtain beneficial insights about various aspects of the industry like the most sought after and cutting edge product features, ways for effective branding strategy, optimum pricing besides others.
Businesses registered with B2B trade portals do not face the risk of losing their money in the fraudulent deals done by fake buyers or sellers as the portals carefully verify the buyers and sellers associated with them and rate them accordingly.
B2B trade portals allow customers to use multiple and secure payment options for the financial transactions made by them. The customers may also be provided the facility to purchase by instalments and monitor their credit limits. The increased flexibility in payment modes helps portals attract more customers around the world.
Various benefits like better order and post-sales management, improved communication, multiple payment options, etc. enable B2B portals to provide an elevated and satisfied experience to their customers.
If you are keen to get created a high quality, fully functional and efficient B2B trade portal to provide the above mentioned benefits to the buying and selling businesses associated with the portal, you should hire a specialist dot net development company like Matrid Technologies. You can get in touch with us for your B2B trade portal development needs. Contact Us Today.