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Can I Sell Online

Business Guide

Can Online B2B Marketplace Really Increase Your Sales

Business to Business Marketplace is an online marketplace, which acts as a center where various businesses and industries such as suppliers, importers, exporters, retailers, wholesalers, and so on can connect with each other for selling and buyingÂ the various products at one place. In simple terminology, it is a digital marketplace where a business is engaged with another business in terms of commercial transactions. Customer Support- Customer retention is one ofÂ the main factors, a great online buying experience keeps your clients coming back for more, and it might even help drive sales. With the help of the Internet, your business can provide customer support more effectively. This means better customer satisfaction and increased profitability.

How can Online B2B marketplace improve your sales

The impact that online marketplaces have had on eCommerce is significant. According to Internet Retailer Research’s 2018 Online Marketplace report, marketplaces accounted for 50% of global online retail sales in 2017. In fact, transactions on marketplaces as a percentage of eCommerce sales is now nearly equal to sales on traditional e-retail sites. And 97% of “avid” online shoppers (defined as customers who made at least seven online purchases in a three-month period) purchased from eCommerce marketplaces in the past year.

While B2B organizations have embraced the idea of customer-centricity, many have yet to adapt to the reality of customer behavior. That’s resulted in millions of marketing dollars being misspent and potential sales lost at a time when companies can ill afford it. In fact, our work with more than 30 marquee B2B organizations around the world shows that half or more of all marketing spend is doing little to influence the purchasing decisions of top customers and providing little help to the salespeople calling on them. (Forbes.)

The face of B2B sales is changing. The tactics and strategies that worked in the past are becoming obsolete. By reframing their mindset and approaches, salespeople can adapt to the change, stay relevant, and increase their chances of success at acquiring customers. (Fatemi, F., Jun. 2018)

As the tech marketplace changes, so too does the buying journey - with most B2B buyers finding their purchasing decisions are highly influenced by engaging in the online space. In order to take advantage of this to generate B2B sales-ready leads, tech companies need to put their energy into placing content online in the right places and optimize their website into becoming a lead generation machine.

A wide array of online marketplaces exists for B2B companies. For several tech companies, BaloTrade is aÂ powerful channel.Â Â It allows suppliers to add 50 products for free and the free package don't get expired.Â This is an excellent way to make money from your business withoutÂ having to pay any fees. Another great feature of BaloTrade is that you can sell your goodsÂ directly on the platform. If you are not a seller, then BaloTrade will be able toÂ sell your goods directly on the platform. In addition, BaloTrade also offers a variety of otherÂ services like escrow, escrow services and more.Â The most important thing about BaloTrade is that they have a very good reputation among their customers.

References

(Apr. 2013). The B2B Customer Decision

Journey: The Route To Increased Sales. Forbes.

Retrieved from

https://www.forbes.com/sites/mckinsey/2013/0

b2b-customer-decision-jou rney-the-route-to-

increased-sales/

Fatemi, F. (Jun. 2018). 3 Misconceptions About

B2B Sales That Are Crippling Your Business.

Forbes. Retrieved from

https://www.forbes.com/sites/falonfatemi/2018/

misconceptions-a bout-b2b-sales-that-are-

crippling-your-business/