Why B2Bs Create Marketplaces to Boost Sales in Magento? - PowerPoint PPT Presentation

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Why B2Bs Create Marketplaces to Boost Sales in Magento?

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Magento Marketplace is a Proven Solution for B2B Business or B2B Service Sales. Let’s explore Which Features Make Magento Marketplace a Conversion Booster. Reference link: – PowerPoint PPT presentation

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Title: Why B2Bs Create Marketplaces to Boost Sales in Magento?


1
Why B2Bs Create Marketplaces to Boost Sales in
Magento?
Have a website built with the help of Magento
eCommerce development company? Are you into B2B
eCommerce? This article is for you to help you
boost sales. But first, what is B2B eCommerce?
When a business provides or takes a service from
another business, it is a B2B eCommerce. The
parties involved in the transaction are both
businesses. Yes, it is that simple. Do you know
the company with B2B eCommerce is opting for the
Magento B2B marketplace? Lets understand
everything about the Marketplace, its benefits,
and from where to get it built.
Understand B2B eCommerce Marketplace
2
You have seen many B2C marketplaces, like Etsy or
Amazon. However, it is predicted by the end of
2023, 70 of eCommerce websites will have a B2B
marketplace. What is the B2B marketplace, and
how it helps? The B2B marketplace brings
different businesses (seller and buyer) together
to perform the transactions. The marketplace can
have a single industry product or a wide variety
of products from various sellers. With the B2B
eCommerce marketplace, it will be easier for a
business to sell its products to potential
buyers. SMEs (small-medium enterprises) often
look for the business-to-business marketplace for
both buying and selling.
Benefits of B2B marketplace
  • Streamlined procurement workflows
  • The global pool of sellers and buyers
  • Easy uploading and managing product catalog
  • Effortless management and tracking of orders
  • Lower order processing costs

Types of B2B eCommerce Marketplace
Based on product types Vertical A business
transacting products of one category is a
vertical B2B marketplace. Here, you will find
only one type of product or service. Horizontal
A marketplace that provides shoppers with a wide
variety of products having the same properties
or from the same industry is a horizontal b2b
marketplace. Global The best example of a global
business-to-business marketplace is Amazon
business. The global marketplace provides a broad
range of products from different industries and
categories. It is creating an ecosystem that will
bring sellers and buyers with both high and
lower needs together. Based on the business model
3
Products A product-based marketplace platform
connects businesses for the fulfillment of
product supply. It will have sellers and buyers
dealing in different products. Services The
name itself suggests, that a service-based
marketplace brings together businesses providing
services. Hybrid A Hybrid marketplace is for
both B2B, B2C, and C2C transactions. It includes
more than one type of business model selling
products or providing services. Read Factors
Should be Consider before starting a b2b
marketplaces
How Magento B2B Marketplace benefits every
intent?
With the trending shift to the marketplace, dont
let your business left aside. Marketplace
provides numerous benefits to leverage. A Magento
development company will help you in creating a
b2b marketplace.
Builds Brand Presence
Physical store shutdowns at the end of the day,
but a marketplace will operate 24/7 and 365 days
per year. Hence, your brand will be visible to
everyone at any time. You might think getting a
B2B marketplace is costly but look at the
brighter side. With the marketplace, there will
be cost deduction on marketing actions, inventory
management, and warehouse system, as it will
operate everything.
Diverse customer base
With the Magento B2B marketplace, you can operate
the eCommerce store in different countries and
have a diversified customer base. Your products
and services will be available to international
companies as well (if you wish to). It will be
more comfortable for sellers, manufacturers, and
even distributors to attract a wide range of
audience or buyers for the provided products and
services.
Optimize customer relationship
4
Who said you cant build a customer relationship
by online selling? Magento B2B marketplace
allows you to chat with the customers and build a
long-term business relationship. As mentioned
in the above section, a business-to-business
marketplace is an ecosystem that gathers vendors
and purchasers to make a fruitful transaction.
You already know, marketplace runs 24/7, so you
can provide professional help to the customer and
create a long-lasting business relationship. All
these factors will boost your sales for a good
reason. Along with that, you will also have
another source of income as well from the
marketplace. How? You can generate profits from
commissions, subscriptions, advertising fees, etc.
Why choose Perception System for Magento B2B
Marketplace?
Perception System provides Magento web
development services and is one of the best
among the others. It is building Magento
marketplaces with expertise for the past 7-years.
To date, they have created a dream project for
every brand that is now earning ample profit
with the boost in sales. The ROI on the
marketplace is significant. So, get a one for
your business too, spike up the sales, and earn
maximum profit out of it. Reference link
https//www.perceptionsystem.com/blog/why-b2bs-cre
ate-marketplaces-t o-boost-sales-in-magento/
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