The business-to-business eCommerce market has gained huge popularity over the last few years. Although the business-to-business platforms are not as popular as the business-to-customer platforms, the advancement made by B2B platforms has been much more as compared to B2C platforms. Alibaba and Amazon are the best examples of business-to-business eCommerce marketplaces which have gained thousand millions of customers over the last few years. Here we are going to discuss the advancements made by business-to-business markets in recent years.
Types of B2B marketplaces:
B2B marketplace is basically an online platform where the business is conducted between different companies. There is no definite interaction between the customers and the companies or between two individuals. Let us have a look at the different types of marketplaces available to us:
- B2B: B2B companies sell services and goods to one another. Few popular examples are Amazon, Alibaba etc.
- B2C: B2C companies sell services and goods to customers. Few examples are Flipkart, Walmart etc.
- C2C: In C2C marketplaces, individuals sell services and goods between one another. Examples are OLX, Etsy, etc.
B2B marketplaces are again of different types:
- Product marketplace: This kind of marketplace is the most popular marketplace. It is basically an online platform which connects the buyers with the suppliers. You can order readymade goods, raw materials etc from these marketplaces.
- Service marketplace: In this kind of marketplace, the customers mainly buy services. This may include IT services, food catering,content creation, event management and many more. Upwork and Toptal are the best examples of such marketplaces.
- E-Procurement marketplace: Various private and government organisations are looking for clothes, furniture equipment and other industrial goods. Using this kind of marketplaces, the companies will be able to reduce their spending because less administrative work is involved.
Features of B2B marketplaces:
Although superficially it may seem to you that there is no huge difference between B2B, B2C, and C2C marketplaces, these three forms of marketplaces are quite different from one another. Let us have a look at some of the unique features of the B2B marketplace which makes it very special:
- Using B2B marketplaces, your users can make bulk purchases.
- A minimum order quantity may be required.
- The discounts on items will depend on the number of orders placed.
- The platform also should accept different types of payment methods.
Registration on the platform:
The buyers do not generally take a very long time to register themselves on the website. The user will only have to authenticate themselves via their social media profile or e-mail address and then they can enter the website. However, in order to become a seller, you will have to prove your legitimacy. Most marketplaces have a complex registration process for the sellers. They will have to add their business details and also upload their licences.
Company profiles and buyers profiles must contain all the necessary information regarding the orders. They should be able to include all their details properly. They should also be able to manage everything from the company profile itself. The seller should also be able to manage their payment, contact details, etc and make regular connections with the customers.
Product catalogue and listing details:
The product catalogue contains all the product listings along with their description, prices, photographs and other details. Whenever a new photograph is added, it should have a separate page as well as an order form. It is extremely important for the sellers to include quality images on the product page of the website.
Powerful search option:
One of the most important aspects of B2B marketplace is the search option. The customer should be able to find what they are exactly looking for among thousands of listings. That is why you must build a proper search engine which has details filtering options available. This will help to improve the experience of your customers.
Personalization and recommendations:
B2B marketplaces were built to provide personalized experience to the customer. The buyers should display personalized recommendations to the users. This is one of the best features of B2B marketplaces. The recommendations will be displayed based on the interests and preferences of the customers. It will also depend on the location of the customers.
B2B marketplaces have numerous identical products available at the same platform. To help the buyers. understand which product they should purchase, you must create a product comparison system where the customers will be able to compare between products from different vendors. A comparison table must display the price, product feature and supplier details in it.
What is the best way to create an eCommerce marketplace?
You can use StoreMate Dokan to design a multi-vendor marketplace of your own. The theme has all the features required to design a fully-functional eCommerce marketplace. You can include different eCommerce elements to your website depending on your website. StoreMate Dokan also comes with WooCommerce integration. The theme has multiple customization options available. You can also use StoreMate Dokan to design a community website.
Final Thoughts on Ways to Build B2B eCommerce Marketplace
So, design your eCommerce marketplace in the best possible way and drive a lot of audience towards your website. Also, don’t forget to install StoreMate Dokan and give a special effect to your website.