Last updated: June 6, 2022 Marketplace benefits for B2B: Sell through, sell more

Marketplace benefits for B2B: Sell through, sell more

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The “sell through” concept has been around since the beginning of retail. In the brick-and-mortar world, it was as simple as your local store selling goods on consignment all the way up to the mega-malls and franchise-based department stores.

Today, this concept takes the form of digital marketplaces like Amazon and Walmart. While nothing new in the B2C world, marketplace benefits have become a hot trend for B2B companies. Why?

Essentially, just selling a widget no longer cuts it. Modern B2B buyers expect much more. They want experiences like they get in the B2C world.

4 benefits of digital marketplaces for B2B

A good B2B marketplace offering opens new channels for your products. All the suppliers on your marketplace also have skin in the game. The ecosystem built around the marketplace benefits from everyone promoting and positioning the outcomes that are possible for your customers.

Here are some of the top B2B marketplace benefits to expect:

  1. More revenue. All the additional services and items sold in your marketplace will boost your top and bottom line.
  2. Deeper customer relationships. By providing a broader and deeper level of offerings and services, you’ll create stickier, more loyal customers. Making things easier for customers gives them more reasons to like you.
  3. Greater insights. Now that you can see “what goes with what” and what’s trending, you can refine both the supply and demand side of your business to make it more focused on what your customers need.
  4. Increased efficiency. By observing the trends on the sell side of your business, you’ll be able to build more efficiencies into the manufacturing or procurement side.

B2B marketplace benefits: Getting started

There are a couple ways to set up a B2B marketplace. You could just participate on one of the global B2B marketplaces like Amazon Business, Alibaba, TradeIndia, or eWorldTrade. This comes with great opportunity, but also great limitations as you’re dependent on the idiosyncrasies and rules of these global platforms.

Another option is to rule your own destiny by setting up a marketplace centered on your products and your customers.

Setting up a B2B marketplace is different from a B2C marketplace. How you approach this directly correlates to how you answer this age-old question: ‘Do you go to the hardware store to buy a shovel or a hole?”

The core principle of your marketplace is to sell your base product, but now you’re also going to sell everything else that goes with your product.

This is a very important concept as B2B buyers are looking to purchase outcomes, not just products.

B2B marketplace examples

An example of marketplace selling can be as simple as offering installation services or all the complementary products that make your product more attractive and useful to the buyer.

While this may be a new trend in hardcore B2B industries, some industries like travel have already adapted from their B2C businesses. Other examples include:

  • Airlines are providing full-service B2B travel and business trip planning around their core ticketing business.
  • High-tech B2B organizations are providing full management of the equipment they provide. Rather than just sell someone a whiteboard, why not help them set up their whole office? This would also help sell more whiteboards.
  • Auto suppliers and the auto industry in general have seen great success adapting their business models to exemplify the B2C buying experience.

Ultimately, your marketplace becomes a community, where your buyers know they can get all they need to successfully use your product. It ties their success to your success and visa versa, while also inspiring brand loyalty.

Don’t miss out on the benefits of B2B marketplaces – start today

While there’s value in participating on the major global e-commerce marketplaces, by creating your own marketplace, you’re opening worlds of possibility. Digital marketplace benefits for B2B companies include more revenue, increased customer loyalty, and more opportunity for growth.

Rather than being “one of many,” you get to stand out while maintaining complete quality control of your good brand – on your terms – to limit risks and drive growth.

In a world of marketplaces, B2B companies can soar. Start HERE!

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John Goldrick

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