Key Features of B2B Marketplace Platforms
Everyday we see more and more customers of B2B businesses are making their purchases online. A study from Forrester indicates that more than 74% of the B2B customers make some online research before buying something. Having said that, the needs and requirements of the customers are very different for B2C and B2B platforms. Therefore, B2B platforms should change the way that they design and display their micro-stores to their customers. The standard model of the shopping cart does not work for the B2Bs.
Here, in this blog, we discuss essential features to create and support a successful B2B Marketplace platform.
Intuitive and user-friendly searches
The customer app search bar should have improved features to
● Search filters – customers should be able to locate a product or refine default search results by varying attributes such as product size, color, availability, etc.
● Availability searches – the e-marketplace portal must be able to manage and narrow down searches based on their availability.
● Location-based searches – while this may seem like a simple feature, it does indeed have huge impacts. This not only saves customers time, but also makes them find suppliers closer to their business.
This is an indispensable feature of all B2B marketplace platforms. With real-time inventory updates, the customers will have the most accurate information.
If a consumer completes an order, only to find that you don’t have the required products, they not only lose confidence in the platform, but you also end up losing potential repeated sales and even the customer.
Most B2B online stores fail because they are rigid and designed on the basis of a standard model. The B2B marketplace platform should be tailored to the specific needs of your customers and suppliers.
This starts with choosing the right B2B marketplace software that meets your specific platform needs.
Flexible payments add to the overall user experience. While different payment methods are very convenient for B2C online stores, they are extremely critical for B2B stores. While offering several payment methods, be sure to provide options for offline modes as well as the usual ones such as credit cards, transfers, etc.
An example of an offline payment method is to complete the order and then allow the customer to pay for it using the order number within 30 days of the end of the transaction.
Unlike the B2C portals that have uniform pricing for all the customers, the B2B enterprises propose different pricing depending on the client or the quantity that is bought. The wholesale purchases offer you higher discounts compared with smaller purchases.
The platform should be designed to display the right price for different customers. Once a particular customer logs in, he must be able to access the price for him, depending on the quantity ordered and other discounts.
Some B2B companies only allow per-registered customers or resellers to order products from their online stores. For example, if your business only sells through a network of resellers, your platform should be designed so that only authorized resellers can access it.
When choosing marketplace platform software, make sure it has the ability to protect with a password your entire platform and restrict access to customers.
The launch of a successful B2B e-commerce store is not possible overnight. You need to choose the right solution and provide your community of suppliers and customers with advanced features to make sure that it works the way you want it to work.
Our Vision is to build the best online service marketplace software, to help entrepreneurs like you build, scale and manage a marketplace platforms. We help individuals, entrepreneurs, small to medium-sized businesses, and large enterprises to launch a fully functional niche B2B marketplace platform in a few days, and at the fraction of the cost ready to generate revenue.
We are here to support you succeed! Let’s start the journey.
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