Benefits for Business Marketplace Owners

B2B directory and marketplaces caters various benefits for all parties involved in the digital process of selling and buying products on an online B2B marketplace.

There are three primary roles in a global B2B marketplace: namely, buyers, sellers, and marketplace owners. Each of them gets specific benefits from their own perspective. Overall, all parties involved in the b2b marketplace process enjoy advantages such as greater cost savings, enhanced marketing, wide market reach, and streamlined workflows.

Let's take a look at the specific benefits that each role on a B2B marketplace gets.

Benefits for Business Marketplace Owners

Online B2B marketplaces provide operators of the platform a detailed insight into what their potential buyers and suppliers really want at a global scale. They also vastly benefit from offloading the main marketing tasks to their pool of global suppliers, which significantly reduces operational costs.

Since they get all the demand figures by suppliers in one single place, they can effectively negotiate better wholesale prices based on the aggregate market demand. Moreover, they have direct contact with their buyers and suppliers, which caters them a great chance to generate and capture business product sourcing leads and grow their business.

Creating a B2B marketplace is finally a chance to develop your business or to create a new one on a specific market where a need is identified.

Benefits for Buyers

A global B2B marketplace streamlines the sourcing process and it reduces costs by enabling buyers to have access to verified wholesale suppliers in one single digital platform. Same like with sellers, buyers can also automate their workflows partially or fully pertaining to any procurement process. For instance, buyers can fully automate the purchase of goods and services from verified suppliers once they connect their b2b marketplace account to an ERP system.

Another benefit of online marketplaces is that they provide buyers access to a global pool of wholesale suppliers, which allows them to research and compare prices and product features at scale, securing the best offer that fits their specific quality and costing needs.

Benefits for Suppliers

B2B marketplaces like trademalaysia.com allow suppliers to easily upload and manage their entire product catalog while keeping track of all inquiries (leads) and the overall demand for their products in a single online digital platform.

By using an online B2B marketplace, suppliers get a single digital point for collecting leads and orders, which results in markedly lower costs for marketing and getting new customers. They can also get feedback for their manufactured or sourced products and delivery processes on a common platform, which definitely helps to respond fast to any suggestions from their buyers.

Benefits for All

A good  B2B marketplace gives specific advantages to all three types of participant and that do not depend on their specific business role

Everyone registered on an online business to business marketplace get access to a large number of potential business partners from every part of the world. Regardless of your role, you can easily create a large database of verified leads and prospects to whom you can send customized offers or orders.

All businesses registered on business directories also have an opportunity to improve their brand awareness by creating a great online product catalog or an informative page for their products. The same concept applies to buyers as in most cases they are also manufacturers of some type of goods or they are service providers.