A B2B marketplace is a multi-vendor eCommerce platform which connects supplier and buyers and facilitates B2B business transactions. B2B marketplace sites have robust functionalities and features that help B2B companies in the growth and expansion of their businesses. B2B has emerged to be one of the most profitable and intriguing sectors, thanks to the rise of B2B marketplace sites. In this blog post, we will be discussing some of the major features required for a successful B2B marketplace website.
Customer registration forms are the critical element in B2B marketplace sites. Customers are required to register on the platform if they want to sell or buy products. B2B marketplace website has special features directed at companies selling to other companies. Various price levels, offers, payment options, shipping, and delivery options, as well as minimum order, are feasible by using details available from the client registration process.
Minimum Order Value
For certain products, B2B businesses operate on a minimum order value. Orders which are too small are not profitable specifically when they are sent to a distant region, therefore your B2B eCommerce marketplace needs this feature. You should be able to define a minimum purchase requirement on your B2B marketplace platform. This threshold must be clearly mentioned to the users.
B2B sellers need to have absolute ownership over their price settings. For a B2B eCommerce marketplace, this involves monitoring their customers’ tailored rates, integrating them into their backend framework, and allowing their distributors to set prices. Sellers demand different price settings for different customers. Therefore, an online B2B marketplace must be able to handle numerous pricing models.
Supplier Management System
The success of your B2B marketplace is very much associated with the efficient involvement and retention of the sellers on your platform. You should know which suppliers are performing the finest in your B2B eCommerce marketplace and then invite new suppliers who meet the same criteria. All these supplier details can only be known and managed via a closely interconnected management system at the place.
Customers must be permitted on their profile to modify, implement adjustments or cancel their order. If such features are not available on your B2B eCommerce marketplace, customers will walk away from your platform. Customers should easily be able to revise their orders. A certain time limit can be set for the availability of this function. So, there will be no loss in business.
The complaints of buyers must be heard and addressed immediately. Whatever issue they may be facing, should be resolved timely.
Automatic Invoice and Delivery Details
The B2B marketplace Platform should be integrated with an automatic invoicing system that should raise an invoice with the correct date, time, reference number, and other relevant details when an order is accepted. This will save you time, money, and effort.
Buyers should also be provided with an estimated date of delivery. This will allow buyers to place the order according to their requirements. Such details may seem obvious and minute but they leave a positive impact on the users. These small features help you in retaining your customers.
B2B buyers request to work with the verified and approved suppliers. Your B2B marketplace must assist these buyers and provide them with a list of all the verified suppliers on your B2B marketplace platform. Working with verified suppliers is equally beneficial for your marketplace This prevents fraudulency and scams which, in turn, establishes the credibility of your company.
Search By Filters
The key element of a B2B marketplace platform is a search filter. Advanced category and search are crucial to allow a seamless user experience. The search box could also provide the choices for filtering certain parameters to make the buying process easy. The numerous products listed on your B2B marketplace website are easier to search using different search filters. Enable customers to filter by labels, range of prices, and customized supplier characteristics.
Multiple Payment Options
The most crucial aspect for any B2B eCommerce platform is multiple and safe payment options. B2B marketplace sites must have at least 3-4 payment options that should allow safe and quick transactions. Payment gateways such as PayPal and Razor Pay are prominent these days. Make sure to incorporate every major online payment platform on your B2B marketplace website.
Complaints and Reviews
The reviews and complaints received by users should be addressed and resolved within time. An efficient customer support team should be in place. All payments and business discussions have to be archived in case of disputes. Provide sellers and buyers with credits based on their performance business.
Global Trade Plaza is one of the fastest-growing B2B portals in India. They have one of the largest B2B marketplaces in India and it is equipped with all the mentioned features and many more. They have a vast variety of products and services. If you are looking for a global multi-vendor B2B marketplace to list your business or buy something, Global Trade Plaza would be perfect for you.