B2B Marketplace is a platform that helps businesses to sell and buy their products and services to other companies. A B2B Marketplace is designed to help manufacturers, exporters, importers, wholesale vendors, stockists, distributors, and other business entities to sell directly to other businesses.
For instance, TradeLeaves offers a B2B marketplace that connects buyers and sellers, ensuring trade is made easy, simple, and secure. It makes it easy for buyers to find suppliers, and for suppliers to make their presence visible to potential buyers. The availability of verified buyers increases the confidence factor among businesses.
How to start selling on a B2B Marketplace?
As an MSME business, you can get started with a good B2B Marketplace in a few simple steps:
- Create your profile: Register, create your profile, and make yourself available to the potential buyers who need your services. Fill in the required details and ensure you complete your profile. Incomplete profiles create doubts and distrust among buyers.
- Complete the verification process: B2B marketplaces like Tradeleaves ensure that every entity is verified. This gives you a ‘Verified’ badge against your business later and helps buyers trust you faster than non-verified businesses.
- List down all your products: Make a list of all the products that you wish to sell on a marketplace. Classify them as per product categories.
- Select a membership plan: Select a suitable plan, based on where and to whom you are looking to sell. Choose Domestic if you are selling within India and Global if you wish to reach buyers and importers worldwide. You can either choose a simple listing service or go for Marketplace plans that offer facility to transact with any B2B trader from within the platform.
- Upload products with proper names and pictures: Businesses on B2B marketplace search by product names. So make sure you upload all your products with proper high-resolution pictures and a complete description. The more the description, the more is the trust factor created in the buyer.
- Enhance visibility with classifieds ads: There could be multiple competitors within your space. It is important to stand out from others. For this, you can use classified ads that will prominently display your business on the top and drive more traffic to your business page on the marketplace site.
- Merchandise management: To ensure a steady supply to your buyers, you can create a separate section in your warehouses that caters to orders from the marketplace. A lot of this depends on what kind of an MSME business you are and what scalability have you planned. Distribution and management will need to be planned especially if you have a warehouse and/or office in multiple cities.
- Set up a communication staff: If your sales representatives are too busy handling offline enquiries, you may need to assign someone to manage leads and queries on the marketplace. Quick responses can shorten the sales cycle and help close the deal fast. Platforms like Tradeleaves offer real-time communication with your leads.
- Explore advanced features: B2B marketplace offers advanced features like order-processing and tracking, third-party services like Finance, Freight Forwarders, Shipping, Packaging, Customs Clearance, and APIs to Partner Systems.
B2B Marketplace is a boon to B2B sellers. MSME businesses can easily scale up on sales and stay relevant, using such platforms.