Build a Better B2B Marketplace to Connect Buyers & Sellers
What is a B2B Marketplace?
In traditional B2B eCommerce, one seller engages in digital commerce with multiple buyers. A B2B marketplace brings together multiple buyers and sellers on a single website. The marketplace operator may sell their own products and services in addition to serving as the marketplace operator, simply running the marketplace.
Marketplaces are popular with B2C buyers (think eBay and Etsy) but according to Gartner research, by 2023 70% of transactions on enterprise marketplaces will be B2B (think Amazon Business). By that time, medium to high-merchandise value digital sellers will have created an entirely new digital ecosystem with marketplaces.
Sourcing, procurement, and vendor management (SPVM) professionals love the versatility of marketplaces. Buyers can fulfill a variety of their purchasing needs with a single onboarding process and maintain a central digital record of purchases and quotes. Operators and sellers are drawn to B2B marketplace solutions for their ability to generate revenue by reaching audiences they might otherwise miss.
A B2B eCommerce marketplace can be global, offering a wide variety of products (Amazon); vertical, offering many of the same types of products (Carenet); or horizontal, offering different products but with similar characteristics (e.g. used goods, like thredUp).
Business Benefits of a Multi-Vendor B2B Marketplace
- ENRICH OFFERINGS
- IMPROVE CUSTOMER EXPERIENCE
- DIVERSIFY REVENUE
Change the Way You Do Business
Think beyond selling directly to customers. Start facilitating transactions between third-party sellers and their customers. Efficiently grow your marketplace by adding vendors, products, and services. Enrich your core offerings without investing in additional inventory, marketing, or manufacturing and warehousing facilities. Move beyond linear selling relationships and leverage the power of partnerships.
When you see business through the lens of a B2B marketplace platform, you’ll see new opportunities and look at your entire organization differently. Harness the power of the marketplace and your digital transformation will completely transform your business model and operations. Prepare now for the way business will be done in the future.
Create Your Own Ecosystem
Don’t be walled in by the limits of your upstream suppliers and the constraints of your downstream customers. See beyond to a complete ecosystem where technology vendors, financial service providers, complementary and even competing vendors engage in commerce with new participants to the benefit of all.
You’ll greatly improve your customer experience through expanded offerings and become the first place customers will search when they start their buying journey. Transform your value chain into a rich value distribution fabric by removing friction, solving problems, and bringing buyers and sellers together in a 24/7 ecosystem that scales and evolves to meet their needs.
Enjoy New Revenue Streams
Generate new revenue streams from commissions, service fees, advertising, technical service offerings, logistics services, and even payment processing without increasing your overhead costs. Once your marketplace is established, you can even expand your brand offerings into new niches identified within the marketplace and benefit from new sources of revenue you didn’t even know existed.
B2B eCommerce marketplaces allow you to leverage existing suppliers and generate additional profit for you as you help them grow their sales. You can even generate revenue when your competitor makes a sale. Your eCommerce website becomes a destination: it allows you to sell services, subscriptions, and build relationships. When you simplify the buying and selling process, you open the doors to financial rewards.
B2B and B2C Marketplaces are Not the Same
B2B marketplaces are built for the needs of B2B eCommerce. B2C eCommerce just isn’t up to the challenge of serving buyers and sellers in B2B marketplaces. It takes a platform built for B2B eCommerce. Unlike their B2C counterparts, business-focused marketplaces support the complexities of B2B sales through:
Bulk ordering capabilities
Purchase order acceptance
Unique pricing with tiered or quantity discounts
Quote, RFP, and negotiation workflows
Personalization for pricing, products, and marketing
B2B-friendly payment types and terms
B2B eCommerce Marketplaces Create Value for All Players
With B2B marketplaces, everyone wins. Buyers get a frictionless purchasing experience and sellers enter markets they may not even know exist. A digital marketplace makes everyone’s job easier.
Marketing Leaders
Marketplaces are one of the greatest disrupters to B2B eCommerce in the last 5 years. Access markets that otherwise represent walled-off gardens.
Directors of Digital
Enrich your offerings through complementary payment, credit, and logistics services while maintaining your core competency.
SPVM Professionals
Streamline your provision processes, take advantage of a wider selection of products, and destroy the perception that procurement is a bottleneck.
Why Choose OroCommerce for Your B2B Marketplace?
Multi Organization Capabilities
Why place limits on how well your marketplace does? Easily scale up to accommodate new vendors without affecting marketplace performance.
Built for B2B
Pick an eCommerce platform that simplifies the complexities of B2B selling and you’ll have the flexibility to configure and manage buyer and vendor accounts with multiple permission levels. Buyers and sellers will love the convenience of a marketplace built specifically for B2B transactions.
Powerful Pricing Engine
Support for complex pricing rules ensures every order and every quote is priced properly.
Showcase only the relevant prices to the correct buyer.
Streamlined Negotiations Capabilities
Vendors and buyers will love the ease of the automated Bid to Quote to Order and Request for Proposal processes. Digitize the negotiation process and speed up the sales cycle.
Multiple Payment Options
Support for credit, debit, ACH, terms, and all other popular forms for B2B payment. Digitize the credit approval process to the delight of sellers and buyers.
Easy Integration
Streamline your business processes integrating with multiple business systems. Readily available APIs allow 2-way instantaneous synchronization between your B2B marketplace solution, ERP, CRM, WMS, 3PL.
Flexible and Customizable
OroCommerce conforms to how you want to build and manage your marketplace. We never ask you to change how you do business to fit the software. Open-source software is completely customizable.
Why Choose OroCommerce for Your B2B Marketplace?
Multi Organization Capabilities
Multi Organization Capabilities
Why place limits on how well your marketplace does? Easily scale up to accommodate new vendors without affecting marketplace performance.
Built for B2B
Built for B2B
Pick an eCommerce platform that simplifies the complexities of B2B selling and you’ll have the flexibility to configure and manage buyer and vendor accounts with multiple permission levels. Buyers and sellers will love the convenience of a marketplace built specifically for B2B transactions.
Powerful Pricing Engine
Powerful Pricing Engine
Support for complex pricing rules ensures every order and every quote is priced properly.
Showcase only the relevant prices to the correct buyer.
Streamlined Negotiation Capabilities
Streamlined Negotiations Capabilities
Vendors and buyers will love the ease of the automated Bid to Quote to Order and Request for Proposal processes. Digitize the negotiation process and speed up the sales cycle.
Multiple Payment Options
Multiple Payment Options
Support for credit, debit, ACH, terms, and all other popular forms for B2B payment. Digitize the credit approval process to the delight of sellers and buyers.
Easy Integration
Easy Integration
Streamline your business processes integrating with multiple business systems. Readily available APIs allow 2-way instantaneous synchronization between your B2B marketplace solution, ERP, CRM, WMS, 3PL.
Flexible and Customizable
Flexible and Customizable
OroCommerce conforms to how you want to build and manage your marketplace. We never ask you to change how you do business to fit the software. Open-source software is completely customizable.