Marketplaces

How to Start Your Own B2B Marketplace

Jerson Cayo

March 19, 2020

Why build your own marketplace?

Create & Manage your Online community of local stores with our Multi-Vendor Marketplace. 73% of all online transactions will take place on a marketplace. Whether you want to build a B2B, B2C or C2C we have the tools to help you get up and running in as little as 30 days. Our powerful CMS driven marketplace allows merchants to manage all aspects of their stores allowing them to make dynamic changes to their product offerings based on the profile of the buyer. Our systems integrate with financial processing, analytics and logistics to deliver same-day or next-day delivery.

Why build your own marketplace?

You control all customer communications. Businesses can create a custom shopping experience for each of your products. You can customize pricing and promotion for your customers. Your clients can pay securely with your proprietary discounting engine. You can integrate your marketplace with your existing ERP, CRM and other accounting software.


What is a marketplace?

When you think of a marketplace, think Amazon, eBay or Etsy. Many of the B2B marketplaces above actually fall into this category, so we’ll cover that as well. In order to do business successfully, you have to engage and win the hearts and minds of your customers, but how can you do that if you aren’t talking to them directly? The current state of B2B marketplaces To get a sense of how B2B marketplaces work, let’s talk about a few of the most popular ones out there. Salesforce Who is using it: 30,000+ organizations including Accenture, Cisco, Boeing, Dell, GE, Genentech and Kaiser Permanente Using Salesforce, you can collect contacts, send them a standard greeting, offer a new product or service, and send them to a page to set up a meeting and purchase the product or service.


The Different Types of Marketplaces

The B2B market has traditionally been viewed as a one-to-many of consumer-centric. The types of B2B marketplaces include: Supermarket Catalog Vendor Marketplace Local Neighborhood Grocer Independent Retailer B2C Marketplace B2B Direct Marketing Platform (B2DMNP) Financial Technology Platform Non-Profit Marketplace B2B Direct Mail Buyer Marketplace Best Practices in Creating & Maintaining an Online Community The B2B market place solution should be easy to use by merchants. To keep the online community members engaged and driving transactions, you must start by having a presence on social media and optimizing it as well as sharing your daily offers.


How to create a marketplace

Bring together buyers and sellers in a transparent, secure and convenient transaction. Secure your vendor and buyer profiles Bring them together in a secure environment for communication and collaboration Merge your buying data from your previous customers Create buyer profiles for your suppliers Develop a buyer profile for each individual SKU you offer Read what others are selling Read articles on relevant industry sites Start creating your community "The Needle" is an example of how to do it. Needle is a multi-vendor marketplace that allows vendors to list their products, sell them through an online store, have one stop shopping all on one platform. Needle has worked with over 100 retailers and 3,500 suppliers to increase their reach to customers.


Conclusion

For most companies the most challenging part of running an online store is making sure your ecommerce website is functional, easy to navigate, and easy to browse. Adding a robust multi-vendor marketplace to your business helps you achieve all of these goals, and ultimately allows you to increase sales and profitability. Do you have any tips on how to start a B2B marketplace that drives more traffic? Are there specific tools you like to use for online business? If you have additional questions, comments, or thoughts please feel free to post them below.

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