All you wanted to know about B2B portals
By: Fibre2Fashion.Com
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All you wanted to know about B2B portals
By: Fibre2Fashion.Com
B2B (business-to-business) websites include all internet-based technical solutions which facilitate
services in the establishment of new trading relationships between companies and supporting the
existing relationships. It can be termed as an e-market for e-business transactions. A B2B portal
primarily serves as a platform for wholesalers, retailers, distributors and manufacturers to carry
out their business activities online. It allows electronic transfer of orders, invoicing and payments.
B2B stands for business to business, so in B2B site the communication and transaction is
between one business ventures to another business venture, here the targeted customers are not
approached directly, it does not sell directly to the end user.
B2B site has become one of the most sorts out and techno-savvy mode for business transactions
as well as a platform for sales. It provides the user the opportunity to reach out to companies and
businesses globally. Marketing done through the B2B portals is exclusively online thus there are
no print, distribution or postage costs plus it is measurable through sophisticated tracking
software. B2B online marketing is an essential part from buyer’s perspective as well as seller’s
perspective. For buyers it facilitates in searching new suppliers, post buying requests, and search
for used or new investment goods. For a seller point of view, it makes easy to find out buyers for
their products, they could sell online new as well as used products. They could even access the
information about their competitors.
B2B websites are an excellent source of various types of business related information. Such as:-
The history about sales, present scenario as well as future prediction about the sales by
business pundits.
Knowledge about their competitor’s market share, the products offered by them and it
also helps the companies to understand their competitor’s marketing strategies.
It also provides information about the product’s pricing and sales in the e-market.
It provides business classifieds, i.e. indirectly business directory of sellers and buyers.
Information for the supply chain process i.e. quality, delivery time, mode of payment, etc.
Provides information about latest happenings of the industry the website is dealing to.
B2B website is a low cost electronic medium to communicate about your products or services to
the target markets. Nearly 90% of technical buyers use the internet to fulfill their business
requirements. It is very easy to operate through B2B, all that is needed a web browser and
internet connection.
Before taking decision to invest in B2B portals certain points should be cleared in the buyer or
seller’s mind, like why they want to use this platform, decision about what are products that are to
be displayed for sale on the website and to see to it that B2B marketing does not conflict with
other marketing channels been used before.
BENEFITS OF B2B PORTALS
B2B portals have made possible for buyers and sellers to carry out sales and business activities
online with the advantage of having choice of many companies that are listed through these
websites for business purpose. There are many benefits coupled with B2Bs.Here follow the gist
of the advantages that are procured by the companies using B2B websites for their business :-
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1) It is a low cost electronic medium to promote the business.
2) It minimizes the overall steps of selling procedures.
3) It also reduces the overall cost for selling and marketing.
4) There are many competitors in online auction as a result the buyer of industrial goods
could get the products at a cheap deal.
5) B2B saves time for business transactions and commercial dealings between the buyer
and the seller, thus it is a cost saving medium in terms of time, money and resources.
6) One of the biggest advantages of B2B websites is just in time delivery. Such promptness
of delivery is satisfying and favorable for both buyers and sellers.
7) It facilitates the establishment of new trading relationships between companies and
supports existing business relationships.
8) By the help of business directory and search engines provided in B2B portals buyers can
find out potential sellers and vice-versa.
9) With the help of classifieds it becomes easy to sell or purchase different products.
10) Tendering services which are a part of B2B websites assists in finding orders and
placing requests.
Technology has taken over paper communication which
has accelerated the business processes and increased
accuracy. Present time demands more speed and
efficiency for every business activity. In B2B portals the
business dealings occur with more speed and efficiency
thus providing satisfaction to its customers. These websites
are well-equipped with the latest technological resources
thus making it possible for the business to grow faster.
The delivery of the products can be traced very easily and effectively by the means of advanced
software programmes which is pleasing for both the Client and the Vendor. Prompt delivery
ensures instant profits, thus making the business transaction fruitful. Through B2B websites the
geographical and time limitations has blurred, hence it has become easy to sell or purchase
products 24/7 days a week, 365 days a year in any country without any mediator.
Business to business portals provides its members the opportunity to display their products,
deliver up-to-date information, specifications and applications as well as sell and purchase
products at one common platform that is the B2B portal. Similar products can be re-ordered from
any previous date with just a click of the mouse.
Check point for the B2B portals
B2B websites are the latest innovation in the field of business enhancing medium and platform for
various commercial activities which can be done on global basis on your computer/laptop. In
huge and vast electronic world of websites there are many B2B portals dealing with various fields.
For instance-automobiles, computers, agriculture, consumer goods, textile and apparel products,
etc. Therefore amidst so many options available on the internet it is become important to check
out the authenticity and reliability of the website before enrolling.
Here are the indicators listed, which proves the genuineness of the B2B website :-
The frequency of updating of recent data on the website is a checkpoint for a B2B portal.
Any website that is prompt in its work would always try to provide the latest information
on its web page. There would be no stagnancy of contents on the website.
The importance of its web page is calculated through its page rank in home page of Google
search engine. The website link should open by entering key word and its page rank should
be between 1 and 10.
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The portal should be certified by standard notification for
verification. For example- Like VISA, ISO 9001, Payment
Gateway, etc.
The clientele and visitor base of the portal should be studied
before the enrolment.
A portal which provides statistical data about itself is also
worth considering .The data that is provided through any authentic log analyzer holds
importance. Some of known names in log analyzing are web trends,123, Alexa ranking etc.
The portal should contain A to Z information about the field it is connected to and
that too with accuracy.
There is no better way to judge a portal than through the word of mouth, through
the feedback from its present members, the references it gets and also by its
certificates.
The class of advertisers on the portal has to seen beforehand. Good and genuine
portals will have known brands as their advertisers.
The range of topics covered in the portal pertaining to the field it is connected,
indicates its knowledge base about its field and its activeness to provide
wholesome data base to its members and visitors. For instance there can be
additional topics which could be covered by a B2B website like- news, articles,
directory, jobs, events, etc.
Thus B2B website provides equal opportunity for small as well as big businesses and
international companies. It makes possible for an enterprise or business to form electronic
relationship with their distributors, resellers, suppliers and other associates.
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