Here are some factors you should consider if you are still hesitating about joining an online B2B marketplace.
If you think COVID was only a big storm of bad news, think again, keeping some of these insights into consideration. As per some recent surveys, e-commerce payment platforms can grow as huge as 25.9% in 2020, especially as 92% in the e-commerce industry believe the transaction volumes will be higher than the pre-COVID levels by September 2020. The pandemic could push the e-commerce proliferation up to Rs. 7 trillion by 2023.
An Accenture report also emphasizes that business leaders are rapidly turning their attention to a period of unpredictable economic recovery with new competitive threats and opportunities. The ‘Never Normal’ could be a new era defined by new factors, and leaders are facing the urgency of reopening their businesses. So companies are scrambling to build the competencies they wish they’d invested in before viz., digital, data-driven, and cloud. They are leaning towards variable cost structures, agile operations and automation; and they are creating stronger capabilities in e-commerce and security.
Do you know where all this is pointing to?
The time ahead is promising but new. And hence it would need your business to rethink where it buys, sells and stands when it comes to business products, services and partnerships. That means it is high-time you onboard a solid and smart B2B marketplace.
Top reasons you should join a B2B Marketplace.
- Business continuity: Everyone is aiming for business continuity. Smarter businesses are re-strategizing for business revival and catering to the post-COVID market needs. This is where you should jump in with the right products and services and tell the world that you are adaptive and innovative. For this, you need the support and backing of a B2B marketplace.
- New business leads: No time is better than now to look for new leads. Businesses which are exploring new partners and suppliers now are at the ripe stage of the sales funnel. They are in the state of readiness and ready to start their supplies.
- Start or grow exports: Platforms like TradeLeaves.com provide step-by-step guidance to start and grow your exports pointing you towards the global demand, achieving compliance with rules and regulations, information on tariffs and more.
- Import and value add: TradeLeaves.com can also help you import from the right supplier abroad, assess local demand, connect with the right service providers to complete all import formalities, complete transactions from within the platform and much more.
- A targeted approach: An online B2B marketplace will allow you the specific approach you need for your business. You cannot afford to spray your efforts all across the market. You need to be specific in your targeting efforts. You need to be precise with your marketing budget. Special tools that smart marketplaces allow can help you do this. Like Classified ads and Listing services.
- Cost optimization: Every penny counts. Every small amount invested in any part of the business has to deliver. This is not a time where expensive services can be accommodated. The world has already moved on to digital existence. A good digital platform will save you precious costs. These platforms are not costly like social media platforms or even regular online ads.
- A DIY platform: In the pre-COVID era, you had large teams and time at your disposal. Today, there is a lid on the budget for lead generation and lead conversion. You have to get right to business and accelerate the sales cycle on your own or with a much smaller team. A smart digital B2B platform is almost similar to a DIY portal. You can post, market, connect and transact without any consultant’s help.
- Smooth post-sales process: A good digital marketplace also enables the entire post-sales process with speed and simplicity. From interactions to negotiations to contract-setting to service and support–everything is facilitated and streamlined on a B2B platform designed specifically with on-ground business realities in mind.
- Domestic economy opening up: Government encouragement and stimulus packages will boost economic activity and production capacities. That means more demand for indigenous sourcing. Smart categorization and easy classification capabilities of a platform can help you source and sell easily.
- Verified buyers: The scenario is not entirely pessimistic, but let’s face it–the business mood is a little fragile. People and strategies are vulnerable to weaknesses, confusion, risks and malafide behavior. That makes authenticity extra important. Transactions happen and relationships endure, but there has to be a firm footing of integrity and trust in any business engagement. A platform that verifies buyers and assurance of bona fide parties only can be a big turning point.
Do not waste your money and time. And do not waste business opportunities that are getting created in a B2B marketplace. Go forth and find the platform that fits the special time of post-COVID business activity. Get moving.