What is an Online B2B online Directory and marketplace, and what is its purpose?

 

In a recent post, I shared information on challenges that confront owners of suppliers and manufacturers whose customers are individuals - i.e., business in a B2C (business-to-customer, business-to-consumer) environment.

The core features of  B2B (business-to-business) e-commerce marketplace are the same like those of B2C and it faces many of the similar challenges and shares prerequisites that are necessary for the successful design and life of an online web shop. But B2B is still unique in its own way and has a lot of additional elements that must be considered to get success.

Business to Business Selling

B2B refers to an online Business to Business Marketplace, Malaysia Business Directory where one wholesale supplier in Malaysia or manufacturer sells goods and services to another supplier or manufacturer. The methods of doing B2B business are the same like those of a B2C environment; however, there are many different elements in B2B supply like high quantity and low prices. 

Unlike shopping done or online orders placed by individual customers, where the payment is made by credit card, PayPal, or some other online payment method before delivery, in B2B websites and marketplaces the online web shop is generally used as a platform for placing orders or submitting buly buy inquiries, while payments for the wholesale purchase are carried out as in other B2B transactions, invoice to invoice or in other words we can say, via bank transfer.

In a B2B business deals, the buyer usually uses a platform like Malaysia Business Directory to search the bulk supplier or a manufacturer and submits his requirement with them. After this supplier reaches the buyer and discusses the prices and quantity required for the purchase. Online B2B wholesale deals depend on factors like status of the customer, their previous business deals, i.e., quantity purchase, regularity of payment, and duration or history of business relation, and of course mutual trust. 

A business buyer can also be a one-time customer without any type of contract with special conditions, so the B2B Directory system has to allow these types of customers to contact suppliers and place bulk procurement orders.

B2B suppliers are often wholesalers or manufacturers. They have regular B2B clients who are often businesses that deliver to their own end customers. B2B customers can also be some governmental agencies which might have annual contracts with the B2B wholesale supplier for the supply of specific types of goods (such as office supplies). For such suppliers, the B2B web shop can serve as an online platform generating leads and reaching new customers everyday with the help of B2B Directories like trading in Malaysia online listing sites. 

Nothing without a good plan

In such a digital business environment, it is very important that every B2B customer in the B2B Network has their “own” part of the application - in other words, we can say that a place where information is available to the B2B customer. This includes products, prices; quantity based pricing, general data about their purchase, supplier and manufacturer details, etc. to be available online on the B2B website itself. 

In addition, customers can also request a quote from multiple sellers for a specific item that can help him to pick the best deal for the product he or she is looking for. This term is known as RFQ - Request for Quote. Here a business buyer submits an inquiry for a specific product and B2B Directory shares this request with multiple suppliers and asks them to share their best wholesale prices. 

All this means that, before jumping to create a digital B2B e-commerce solution, you first need to plan and study all aspects of B2B marketplaces very well and plan on how you will sail in this massive B2B environment. B2B marketplace is not just a simple online selling web shop. 

As a basic rule of evolution, it is an online platform that technologically and also organizationally needs a thorough adjustment and preparation of the online business platform. Leading Business Directories in Malaysia like Trade Malaysia is leading from the top and helping the local suppliers and manufacturers to reach global B2B buyers.