Ubiquitous and extraordinarily useful, B2B marketplaces can actually be a great arrow in the brand awareness quiver.
But how to effectively take full advantage of a B2B portal in the next few years?
How to explore its full potential and make sure businesses can get massive exposure following some simple steps?
By reading this B2B article, interested business leaders will be able to clearly understand what is B2B, what a B2B marketplace is all about, and how they can benefit from showcasing their brand in these mighty crucial digital platforms.
What is a B2B Company?
Business to business refers to any type of transaction between businesses.
These transactions may involve a wholesaler and a manufacturer, or a retailer and a wholesaler, for example.
Whereas B2C refers to business which is undertaken between a company and its clients, B2B relates to the relationships established between two businesses which actually need each other’s help to ensure they reach their full potential.
When it comes to the communication context, business to business actually has to do with certain methods through which professionals from diverse organizations get to connect with one another.
A B2B communication relationship can be established via email, through the phone, or even on social media.
This type of B2B communication is used to help brands reach wider audiences.
For example, a yogurt brand can showcase a brand of macadamia nuts, meaning that both the followers of the former and those of the latter get to know about new companies and products through the effective use of B2B communication strategies.
These days, it’s easy to find B2B companies in every industry, niche, or market.
Whenever business is being transacted, there must be some form of B2B relationship coming about.
Since every single B2C enterprise requires specific services, products, and even professional advice, every B2C company is sure to generate a B2B organization.
There are many kinds of B2B companies and many different examples that could be showcased to allow readers to get a grip on the perfect B2B marketplace definition.
For instance, the world of automobiles is a great platform for B2B enterprises to flourish.
Indeed, per every vehicle produced, there are great numbers of specific products which are part of that vehicle and which are actually produced by other companies.
An auto manufacturer may be able to produce most of the components of a car, but the radio may be from Pioneer, the leather seats concocted by a prestigious sartorial brand, the glass hand-made by a luxurious house in Switzerland, etc.
As for companies which have been able to make B2B their bread and butter, there are umpteen examples.
To pick one which is quite obvious, readers could focus on Dropbox.
The super-popular cloud-based storage enterprise helps businesses save crucial documents.
As for G.E, one of the world’s most important brands, it both creates consumer goods bought by people all over the world and provides specific electronic and technological parts for different businesses.
Here are some other examples of popular B2B companies:
- Dun & Bradstreet
- Alibaba Group
- RELX Group
Together with B2C companies, B2B enterprises are remarkably important parts of trade, and commerce, showcasing an invaluable power.
How important are B2B companies in today’s competitive economic realm?
Here are some B2B stats to enlighten the most cynical of judges:
- In 2017 alone, the revenue of the B2B media and information industry reached a staggering $127.7 billion
- In 2016, LinkedIn earned $623 million in revenue, Dun & Bradstreet $699 million, and Acxiom $312 million
- In 2016, the RELX Group earned an impressive $2,28 billion, the Alibaba Group $1,6 billion, and the International Data Group $1,57 billion
These amazingly high numbers are the proof that an effective B2B marketing strategy must be essential for any successful B2B company to make an impact in the next few years.
What is a B2B Marketplace?
A B2B wholesale marketplace is an online platform where companies can showcase their brand, products, and services.
The main goal?
To create a page that effectively showcases a business, as well as all the services it can render.
A B2B marketplace startup is almost like a window shop, allowing enterprises to quickly understand the value of other B2B companies that they can eventually do business with.
In B2B marketplaces, prices vary according to each customer.
In fact, the most loyal customers - or those who actually place large orders - can expect to get incredible discounts.
B2B marketplaces speak for innovative brands, help businesses find new opportunities for fruitful partnerships and are fundamental in today’s competitive market.
Moreover, a free B2B portal gets to inform different potential companies of the wealth of services available to them, which means this type of platform is more focused on business cooperation rather than commercial trade.
Reasons Why Companies Should Be Listed in B2B Marketplaces
1. It’s Easy to Set-up
Believe it or not, a B2B marketplace platform allows users to quickly set up an account or page.
In most cases, all interested B2B enterprises have to do is sign up, insert a few details regarding their specific company, insert an email and the link to the company’s website, and a logo which clearly shows the “face” of the organization.
Indeed, this is not a fastidious process.
Marketing leaders won’t have to spend weeks setting up a storefront.
They will just have to create an account, insert some information about the products and services rendered, and start getting to take advantage of new business connections.
2. It’s Inexpensive
One of the most incredibly painful realities of B2B advertising?
It can be tremendously expensive.
Not when it comes to the realm of B2B marketplaces.
In fact, most marketplaces for B2B companies have a low entry fee or no fee at all.
This means interested B2B marketers won’t need to set up shop or develop an E-Commerce platform that could cost thousands of precious dollars.
They also won’t have to spend an inordinate amount of money on marketing, since the company gets to be part of a marketplace without breaking the bank.
Since B2B trade websites have been implemented by gifted developers and have already proven their invaluable contribution to B2B enterprises, all business leaders have to do is log into a platform like DesignRush, insert some details, and take full advantage of one of the very best brand awareness techniques.
3. It Gives Access to a Brand-New Audience
What is B2B brand awareness all about?
What is the goal of B2B advertising?
At the end of the day, brands want exposure, recognition, and a way to quickly find and be found.
This is where marketplaces for B2B organizations take the cake: they actually allow business leaders to take full advantage of a new and highly-engaged audience.
This means companies won’t have to spend money thinking about ways to actually establish a new audience.
The people and companies that will change the future of their brands are already showcased on the platform, and they just need to reach out and establish a connection.
Ultimately, this allows marketers to reach a wide audience of companies that hail from all over the globe.
4. A Platform for Testing New Products
In case business leaders are iffy about a new product, they can rest assured.
Why is that?
By taking full advantage of the audience found on a specific B2B marketplace, business experts can find a new platform to test their products.
Bearing a proven B2B marketing strategy in mind, they can select a product or group of products and insert them on their account’s page.
Depending on the success of their B2B products, marketing specialists can push or pull the products, getting first-rate access to a wealth of eager customers.
The fact that a global B2B marketplace can really be the ultimate focus group is one of the biggest advantages of B2B advertising strategies.
5. Competition Insight
One of the biggest benefits of B2B trade portals?
The fact that they allow savvy marketers to understand what the competition is coming up with.
B2B trade portals for business are essential tools that every intelligent business leader should use to scout the competition, assess products, and compare services.
Since B2B marketplaces show the likes of all sorts of different companies, business leaders can get to focus on their niche, select the top competitors, and analyze every single detail of their B2B strategy.
A B2B marketplace solution really is the go-to platform for a bit of industry-specific espionage.
Indeed, these platforms keep business experts on their toes, because they need to constantly revamp their offers in order to continue showcasing a valuable service.
In addition, they also help B2B customers choose what is the best option for them, inasmuch as various types of B2B marketplaces allow people to canvass through a variety of diverse - and competitive - offers.
6. Massive SEO Improvement
New companies smell fresh, they are happily walking along the marketplace, and they are filled with the mirth and joy of those innovative folks that know the world is their oyster.
The fact that most fledgling B2B startups lack the resources to invest in successful marketing strategies.
This means SEO becomes not a choice but a necessity: companies that want to start showing their power must invest in thorough keyword research, massive link building, and the creation of impeccably informative content in the hopes of getting higher ranks.
How can B2B marketplace sites help SEO?
These trade portals for B2B companies allow organizations to get an immediate rankings boost.
Upon creating their account, businesses can insert their website, LinkedIn page, and Facebook page, gaining tremendous brand awareness as well as some Google recognition.
At the beginning, when an enterprise has just started to establish its verve, this SEO trick can really make a difference and help businesses grow.
B2B trade portals are a cheap - or free - method that all B2B companies should be using to reap the rewards of instantly boosted brand awareness, SEO gains, product testing, and detailed competition analysis.
By taking the time to insert their company’s data on some of the world’s most coveted B2B trading platforms and some of the best B2B sites in the world, business leaders will be able to get new leads, establish fruitful relationships, and effectively help their enterprises grow.