Sign up today and be a part of the fastest growing B2B platform
Call: +91 842 908 8885
Thinking of registering your business on a B2B Marketplace? And have no idea where or how to begin? Well, we have your back. In this comprehensive guide about B2B Marketplace for buyers and suppliers, we have discussed the functions, benefits and features of a Business-to-business Marketplace. This guide also encompasses details of leading B2B portals in India and how to register your business on those platforms. So, without further delay, let’s get into it.
What is a B2B Marketplace?
A B2B Marketplace is an efficient technique for businesses to associate with other companies and also unify trade operations. A B2B marketplace for buyers and suppliers facilitates purchases and payments primarily online, offering streamlined and expedited transactions by employing digital services and applications that enable eCommerce activities. Such platforms have changed the face of the B2B industry, and for the better.
A B2B Online Marketplace, in a nutshell, is a digital framework that helps businesses to connect with other organisations and conduct sales in one space. To put it simply, sellers list their products and services on a B2B marketplace to reach potential buyers who, in turn, connect with suppliers and make bulk purchases. The essential differentiator is that the buyers and sellers in a B2B Marketplace are suppliers, manufacturers, wholesalers, exporters, and other businesses, meanwhile, the key customers on a B2C platform are individual consumers.
What are the Basic Types of B2B Marketplace for Buyers and Suppliers?
Depending on the business type or types of products and services, B2B online marketplace can be categorised into two-
Vertical B2B Online Marketplace- Marketplaces allow for the purchase and sale of products in a single industry segment. Such B2B portals only allow business across all sections of a specific industry.
If you are from a pharmaceutical company, for instance, a Pharma B2B marketplace can put you in touch with companies that can provide you with pharma related items or services.
Horizontal B2B Online Marketplace-
Horizontal B2B marketplaces, on the contrary, enlist companies that sell and buy products and services from numerous industries and sectors. Let's assume you deal in agriculture.
Aside from sellers and buyers of cereals, vegetables and fruits, such marketplaces can connect you with companies of altogether different lines such as that of industrial supplies and pharma.
One fine example of a Horizontal B2B Marketplace in India is Global Trade Plaza. It is a pioneering B2B Portal in India that connects suppliers and buyers of various industries and sectors from across the globe. Global Trade Plaza along with a few other B2B Marketplaces in India are trusted amongst the renowned exporters and importers worldwide.
How Will Your Business Benefit If You Register on a B2B Marketplace for Buyers and Suppliers?
A question that must be asked and so, we have answered. It's essential to understand how a marketplace will affect your business.
When it comes to global commerce, the lack of knowledge in localization and international trade might create some obstacles. It's possible that you'll have to find a decent local representative to convey the worth of your goods to buyers in their native tongue. This and more can be time and expense consuming. B2B marketplace in India, on the other hand, takes care of these procedures for you.
A leading B2B Portal in India like Amazon Business, Global Trade Plaza and TradeIndia will have a large number of buyers from all over the world. These marketplaces, therefore, empower you in connecting with international buyers and reaching overseas markets with ease.
Easy to Use
You don't have to be concerned about using a B2B online marketplace as it is as simple as using any B2C e-commerce website. You simply have to register your business or company, add products you want buyers for, and start exploring. Some B2B Portals in India like India Mart and Global Trade Plaza will even assist you with registration, product listing and lead generation. With a B2B Marketplace in India, you will receive enquiries from buyers as well.
Firm Digital Presence
It takes a lot of effort and resources to set up an eCommerce store. You must first select the appropriate framework, after which you must devote funds and efforts to developing, administering, and marketing the website. You'd also need to improve your search engine optimization (SEO) in order for relevant buyers to find your website. But, a B2B marketplace for buyers and suppliers is already search engine optimised, which means your business will get better exposure. Being a member of a B2B marketplace in India, allows you to build your digital presence and reach a large number of active buyers in your region and across the world. Hence, a B2B Portal in India will enable you in connecting with new potential buyers and expanding your business internationally.
Secure & Easy Transactions
Every B2B Portal in India is a secure space to conduct purchase orders anytime, and from anywhere around the world, because they are structured with extra consideration to protection and operational safety. Various payment methods are included to meet specific payment needs. The reason we are talking mostly about the B2B Marketplace in India is in light of the fact that the B2B e-commerce sector of India has witnessed a significant surge in the past few years and has become a haven for companies from multiple countries.
Insightful & Actionable Data
The growth and revenue of a B2B seller rely heavily on data and its analysis. A B2B Marketplace in India makes it easier for businesses to collect, evaluate, and track key data such as customer interaction indicators, profits, product portfolio, stock rotations, and much more.
You may gain pivotal data and meaningful insights by incorporating analytics with your CRM, which will take your customer understanding to a whole new level.
What Features You Must Look for in a B2B Marketplace in India
You must be thinking, "Which B2B Portal in India should I go for?" So, here we have discussed a few defining features a B2B marketplace for buyers and suppliers must have-
Diverse Payment Options
Definitely not as simple as it sounds! Any decent B2B portal in India will certainly have a plethora of globally accepted payment methods. This facilitates better connections and deals. A B2B Portal that does not support popular payment methods will not have an edge over its competitors and which, in turn, will impede your growth.
Gated & Constraint Access
Limiting access is a significant feature for every B2B Portal in India. They prevent users from getting a full picture of the buyers, suppliers or businesses registered with them. How does that help you? Well, this makes sure that a buyer or even a seller is not flooded with fake enquiries. They only receive leads that are genuine and effective. Moreover, this also safeguards the sensitive product information of every seller.
Also, from the perspective of a B2B portal, registered and filtered users enrich their client database. This information aids in the company's revenue and profit.
Advanced Filter & Navigation
The B2B Marketplace in India, you are going for, must have advanced filtering options. Sophisticated filters and searches are essential for a positive buying experience. That B2B Portal in India should allow customers to browse by company, budget range, supply, and vendor-created bespoke parameters. Powerful search tactics, like search autocomplete, can help buyers find items they require easily.
What are the Best B2B Marketplaces in India?
Now that you have understood how to choose the most suitable B2B marketplace for your business, let's have a look at some of the best ones. Below-mentioned is a list of top-notch B2B Portals in India that are dominating in their fields-
Alibaba- Alibaba is a key global B2B Portal in India that links Indian exporters, manufacturers, buyers, and importers with businesses worldwide. Alibaba enables Indian merchants to offer their goods to customers all over the world. Nonetheless, one significant disadvantage of Alibaba is that you can only conduct large purchases, with no minimum order size. Alibaba's B2B marketplace in India has millions of buyers and suppliers.
Trade India- As the name implies, this B2B marketplace in India assists Indian companies and exporters in marketing their goods in India as well as overseas. It boasts an expanding database of over 4 million active members. This B2B online marketplace holds its reputation for providing quality services to both international and Indian enterprises.
Global Trade Plaza- Global Trade Plaza, a leading B2B Portal in India has been connecting buyers and sellers from all over the world. It is primarily developed considering the needs of independent sellers, SMEs, Indian exporters, and global corporate enterprises. It allows sellers and buyers to register their businesses for free and proposes a unique business platform for companies that want to boost their market reach and global presence. With the undying trust of millions of businesses, this B2B Marketplace in India clearly stands out.
Leave a comment