Ever growing Business-to-business, popularly known as B2B marketplaces are changing the ways of business. These online marketplaces are providing immense potential, both for buyers and suppliers. The reason of their success is their smooth global outreach and transaction processes. So, if you are a tyre machine manufacturer, these B2B online marketplaces can serve you more than you expect.
B2B marketplace is an online platform where sellers and buyers communicate and carry out business transactions. A buyer here is not a consumer. There exist some businesses and anyone can be a wholesaler, retailer, and other trader in a specific niche. These marketplaces act like a vertical search engine.
Vertical search engines carry information about a specific industry. For industry, a tyre machine manufacturer B2B marketplace will contain information only about tyre machine manufacturers. Whereas a cloth B2B marketplace will register clothing manufacturers only.
There are some bigger online marketplaces like Made in China and indiamart.com that include suppliers and manufacturers of various industries. Therefore, a B2B marketplace reflects serious business and is quite different from B2C platforms. B2C platforms connect businesses with consumers.
Many surveys and researches have been conducted about a business’ search behavior and professional users. These studies reveal that when the professionals use general-purpose search engines like Yahoo and Google, they don’t receive specific information about their work-related queries.
A keyword-based search can provide diverse results in the form of scattered information shown by various websites, blogs etc., not necessarily useful for corporate purposes.
On the other side, the vertical searches on B2B trade directories or B2B marketplaces offer business-related information required by the professionals. If we take the example of a tyre machine manufacturers marketplace, we can relate to other professionals like a ribbons wholesaler.
It is now much easier to search tyre suppliers on a narrow tyre machine B2B marketplace. These specialized sites have at least two benefits over general search engines.
First, they know what the needs of their specifically-targeted community are and have whole knowledge about their requirements.
Secondly, they can make tough assumptions based upon their sound knowledge. They can also make the search activity a result-oriented one through expert organization of the product contents.
Online B2B marketplaces use their potential for the benefit of sellers and buyers. It offers them instant access to the global audience.
A B2B marketplace erases all the worldly barriers and buyers can get access to a lot of new suppliers.
Access to smooth and user-friendly online transaction processing saves time and minimizes the transaction costs.
When a B2B supplier carries business locally, his market gets limited. A B2B marketplace provides an opportunity to do and expand business globally and explore new markets.
Processing of online sales reduces the requirement of other material and human resources. As a result, overhead costs reduces by a significant amount.
In fact, every B2B marketplace has proved to be one-stop solutions for buyers as well as suppliers.