B2B Marketplace is it effective source for global trade?
B2B marketplace is gaining great significance in today's corporate world.
It is acting as one of the effective business tools. Initially there was less importance for online B2B marketplace. Gradually, the perception of people changed when they saw the benefits of using this tool. They realized that the returns are much wider compared to other tools of marketing. So, several businesses started using this technique for improving their business operations.
The added advantage of business to business portals over other methods is that cost of investment is less compared to the returns. Business can reach large number of people at a time. These portals allow business to do international promotion, display product catalogs, and provide product, company details and much more. Buyers can get complete product information sitting at one place. Businesses can save time of making business deals. There is no need of personal presence and easily interact online and finalize the deals. Both business parties can get instant feedback and communicate effectively by using services offered by these sites.
B2B portals have database of manufacturers, suppliers, distributer, retailers, and buyers.
Businesses can use this database to improve their own client's database. Businesses can contact any of the related members on the site and make deals. In recent studies on online business portals it was observed that the businesses listed on top get more business compared to others. B2B marketplaces offer top listing for premium membership. Premium members can hit more deals than free members. Through market research it was determined that the number of women entrepreneurs is more compared to men's on business to business portals.
There is no place and time barrier in online trade portals. Users from any corner of the world can surf the site and make deals online. In case if one is skeptical about other business party on the site then just make few business calls, ask several question through which you can identify them. This will help to protect oneself from fake business deals. Since the percentage of scam is increasing day by day. Businesses should verify the authenticity of other party before entering into any contract.
Online trade portals take at most care from their side. They verify all the required details about the businesses registered on site. In case if the information is incomplete or not valid they do not provide trust seal to such members. This trust seals shows that the registered member is an authentic user. To be on safe side businesses can study safe trade guideline on the sites. Online trading sites offer safe trading tips to users for secure trading.
By Priya Kamble
Ever growing Business-to-business marketplaces, popularly called B2B marketplaces are changing the ways of doing business. These online marketplaces have immense potential, both for buyers and suppliers, thanks to their smooth transaction processes and global reach.