What is a B2B marketplace?
A B2B marketplace is an online marketplace utilized by manufacturers, wholesale distributors, suppliers, traders or other business-to-business organizations to buy and sell their products. Marketplaces give business buyers visibility into a diverse range of products, customer reviews and pricing comparisons and allow businesses to reach new audiences and drive sales.
What are the top B2B marketplaces?
There are many tiers of B2B marketplaces. Larger, global B2B marketplaces include Amazon Business, TradeIndia, IndiaMart, Alibaba, eWorldTrade, Wholesale Central and DHGate.
There are also niche marketplaces for specific industries like auto, manufacturing, building materials, industrial heavy machinery, electronics, aerospace and more.
Auto and auto parts marketplaces, for example, include PartCycle, Car-Part.com, AutoHub and PartsMarket among others.
Should I sell on a B2B marketplace?
A B2B company may choose to sell on a marketplace because they can reach new audiences that are already engaged within an existing marketplace, there’s a low cost of entry as order fulfillment has been streamlined, there’s no need to create a storefront and because marketplaces present a smooth customer experience based on state-of-the-art technology.
How do I get started selling on a B2B marketplace?
Selling on a marketplace starts with smart commerce strategizing. You have to ask yourself questions like:
- Which of my company’s products are best suited on marketplaces?
- What data and information do I have on my current customers?
- How could marketplaces help me reach new customers?
- What are my strongest revenue streams?
Be sure to check out our white paper, Say Hello to B2B Marketplaces to get more information on how to build a B2B marketplaces strategy that works for your business.
How do I compete with a B2B marketplace?
One way to compete with a marketplace is to develop services that are hard-to-digitize. If you can price, sell and develop value-added services, marketplaces can’t always compete against that. Learn about more ways to compete against marketplaces here.
What is a B2C marketplace? How is it different from a B2B marketplace?
A B2C marketplace like Amazon or eBay is a platform that enables a range of vendors to sell their products to consumers. Often, the owners of B2C marketplaces earn a percentage of the sale. For example, Amazon earns a commission on orders placed on their platform.
The most apparent distinction between B2C and B2B marketplaces is that B2C marketplaces are intended for businesses to sell to consumers while B2B marketplaces enable businesses to sell their products to other businesses. Most B2B marketplaces will also offer features that support the complexities of B2B transactions. This can include things like bulk order, customer-specific pricing, quoting capabilities, RFP services and multiple payment types.