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Why B2B Marketplaces Represent the Future for Buyers and Sellers

Online market place

Technology has been changing the way we do things for a long time now. Yet, there are still many more modifications to come, in our private life as well as in our professional one. Many buyers will have to rethink the way they acquire products for their company, with the growth of new B2B marketplaces. Here is why they represent the future.

Simplifying the Buying Process

When e-boutiques first opened, people did not believe that they would change the way we acquired products, in the future. They imagined all kind of issues that would stop the growth of online sales. But as we now know, the reverse happened. More consumers do a greater part of their shopping online these days, and soon, this will be true for professionals as well, thanks to the arrival of a B2B marketplace for most of the industries.

The main reason is that it simplifies the buying process. Before, buyers had to call upon a variety of manufacturers and have them compete against one another, before choosing the product that they would use in-house. Although it helped getting a better price, on signing, it also had a lot of inconveniences, most of all being a time-consuming process. Today, if a buyer gets on a B2B marketplace, he will find all the information he needs to compare products. Also, the price that will be offered will already have been negotiated by the platform. Although cost won’t be an advantage anymore over competitors, the fact that buyers will gain more time for other tasks will certainly benefit companies, if used wisely.

Enlarging the Pool of Buyers

The job of a salesman is to introduce the products of the company that he works for to as many potential buyers as he can, first and foremost. The second part consists in convincing them to buy. When a sales manager decides to use a B2B marketplace to sell the company’s products, it clearly answers to the first part of the job. In a single gesture, he can bring the products which he represents, to the view of hundreds or maybe thousands of buyers. The possibility of increasing sales rapidly and by a large amount, is evident. As for the second part of the equation, it will come through the choice of wording that will be selected, in order to describe the products, as well as from the pictures that will be attached. Naturally, having the right price will make a lot of difference in the eyes of buyers, so sellers need to keep a constant attention on similar products, in order to remain competitive.

B2B marketplaces will see an important growth in 2023, and in subsequent years. The principal reason is that technology has grown sufficiently for these platforms to run smoothly, which wasn’t the case still, just a few years ago. There are simply too many benefits gained by all parties involved for these platforms not to become the number one tool for buyers and sellers in B2B, around the world.

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