A recent study by Statista revealed that the online B2B market is expected to reach $20.9 trillion by 2027. Much of this explosion is due to the rise of B2B marketplaces. The digital world has opened up unprecedented horizons for sellers, who now have every interest in adopting innovative sales strategies to stay competitive. Therefore, choosing the right sales channel is crucial for targeting the right buyers in a fast-changing B2B business environment.
One of the most effective approaches is to sell on a specialized B2B marketplace. By choosing this route, you can give your business a new boost, and offer your products to buyers specifically interested in your offerings.
Choose a specialized sales channel and get started!
Table of Contents
- I. B2B marketplaces: An essential sales channel
- II. A closer look at the benefits of a B2B marketplace
- III. In practice: Using specialized marketplaces to drive traffic and sales
I. B2B marketplaces: An essential sales channel
A. The evolution of e-commerce and the emergence of B2B marketplaces
E-commerce has rapidly changed the economic landscape, opening up new opportunities for manufacturers and distributors. Selling online enables you to reach customers all over the world, gain visibility, and increase your company's growth potential.
This sales channel gradually adapted and eventually gave rise to B2B marketplaces, e-commerce platforms that enable companies to sell directly to other businesses. In addition to simplifying the purchasing process, these marketplaces bring together a multitude of products, making B2B transactions smoother and more efficient.
B. The different types of B2B marketplaces
In the vast world of B2B online commerce, there are three main types of platforms: general, specialized, and hybrid marketplaces. Each offers distinct advantages and brings diversity to the online sales ecosystem, enabling different markets to be reached using specific approaches.
- General marketplaces
As their name suggests, general marketplaces, also known as horizontal marketplaces, are characterized by the immensity of their offerings. They provide a wide range of products, covering many different fields. These platforms are ideal for companies with a diversified product catalog looking to reach a wide audience. They also offer considerable visibility due to their high profile and wide audience. However, the high level of competition on these platforms can make it difficult to position specific products.
- Specialized marketplaces
In contrast to general marketplaces, specialized marketplaces, also known as vertical marketplaces, focus on a specific sector or product category. Whether in the world of industry - such as DirectIndustry - or medical equipment - such as MedicalExpo - these platforms stand out for their sector-specific expertise. They offer a more suitable context for niche products and facilitate the purchasing process for buyers looking for specific products within a defined range.
- Hybrid marketplaces
Hybrid marketplaces offer a 360° solution that combines the characteristics of different types of online sales platforms. They enable buyers to benefit from a complete shopping experience, covering both general and specific needs.
C. Overall advantages of B2B marketplaces
With their greater reach among potential buyers, B2B marketplaces reduce prospecting efforts and foster opportunities for lasting business partnerships on an international scale.
In addition, these platforms often offer sales management tools, such as targeted marketing services or integrated ordering and payment systems.
What's more, a B2B marketplace provides increased visibility and better referencing online, which significantly boosts traffic to product pages and thus online sales.
II. A closer look at the benefits of a B2B marketplace
A. Targeting qualified buyers
Since they are specifically focused on particular sectors, specialized marketplaces bring together buyers and sellers with similar interests and needs. By joining this type of marketplace, you immediately establish connections with an audience of qualified buyers. These are potential customers who already have a certain level of interest in the product category you offer. They are, in essence, much more receptive to your type of offer. You can therefore count on an already committed audience, made up of buyers specifically looking for the products you sell.
According to a recent study by eMarketer, over 75% of B2B sellers have seen a significant increase in sales by opting for a specialized marketplace. This figure underlines the importance of specialization in targeting buyers.
B. Relevant product categorization
On a specialized marketplace, your products benefit from optimal visibility. With well-defined product universes and sub-categories that are ultra-adapted to your offering, you can highlight the unique features of your products. This precise product hierarchy ensures that the right people see your products. This can help boost sales.
C. Sector expertise to enhance your reputation
Specialized B2B marketplaces stand out for their in-depth knowledge of specific sectors. They bring with them real credibility. This can have an impact on your reputation and perceived expertise, and thus foster buyer confidence in your products.
By benefiting from the site's sector expertise, you can also evolve your sales strategy in line with changing market trends and needs.
D. Impact on conversion rate
Since specialized marketplaces target qualified buyers, they can often deliver higher conversion rates. A high conversion rate means that a large number of visitors to the platform or product page end up making a purchase. B2B marketplaces, with their expertise, generally attract buyers with high purchase intent. These buyers don't come simply to browse but to make specific purchases. This increases your chances of closing sales.
E. Save time and money
Concentrating your sales efforts on a specialized marketplace is a smart choice for saving time and money. The ability to specifically target an already engaged audience increases the effectiveness of your sales and marketing efforts. You'll be able to present your products to professionals already interested in what you have to offer, avoiding the dispersion of your resources. With pre-defined targeting, your interactions with buyers will be more fruitful, your negotiations smoother and your sales more conclusive. You'll spend less time on less qualified prospects. The result is greater efficiency in your sales operations. In other words, you'll invest less time and money finding potential customers, and more time serving those who are ready to buy.
F. A powerful tool for setting yourself apart from the competition
On a horizontal marketplace, your products may be drowned out by thousands of others. With a vertical marketplace, you have a much better chance of standing out from the crowd. Here you can personalize your digital presence because the platform is adapted to your core business, both in its design logic and in its tree structure.
III. In practice: Using specialized marketplaces to drive traffic and sales
A. Showcasing your products
An accurate, detailed product sheet can help you win over the right buyers. By doing so, you can increase the visibility of your products. Optimize your product pages with detailed descriptions, quality visuals, and special offers tailored to buyers' needs, as these all help attract prospects' attention and keep them coming back for future transactions.
B. Presentation of the unique value proposition
By highlighting what sets your products apart from others, whether in terms of design, functionality, quality, or durability, you stand out from the competition.
Highlight the unique features of your products and the benefits they offer customers. Clearly demonstrate how your offer meets specific buyer expectations and why it is the best option on the marketplace. A clear and convincing value proposition will encourage potential customers to choose your products over those of competitors.
C. Optimal use of specialized marketplace targeting services
Consider taking advantage of the targeting services offered by the marketplace to effectively reach your target audience. Although the list is far from exhaustive, here are three interesting avenues to explore in terms of marketing tools:
- Targeted email campaigns
You can use targeted emails to send personalized offers to customers who have already expressed interest in similar products. With the marketplace's contact database, you often have access to buyers who have very recently been active, and who are targeted by product interest, country, and language.
- Sponsored articles
Sponsored articles published by the marketplace, often through an industry e-magazine, offer you a great way to promote your products in search results, thus increasing their visibility.
- Advertising banners
Promotional banners give you an attractive visual presence on the platform. In fact, according to recent Comscore statistics, well-designed banner ads can increase a brand's visibility by up to 50%, underlining their significant impact in a competitive e-commerce ecosystem.
By leveraging these services, you can reach the right people at the right time, maximizing your chances of conversion. Don't forget to track the performance of these campaigns, so you can adjust your strategy over time and optimize their effectiveness.
"To be everywhere is to be nowhere." - Seneca.
When you decide to sell on a specialized B2B marketplace, you're making a strategic decision that can radically transform your business, ensuring that you aim precisely at your target market. Access to a "tailor-made" audience, the ability to personalize your digital presence, and the benefits of expertise in your sector are all assets that will enable you to maximize your online sales.
If you're tempted by this commercial adventure, VirtualExpo Group is here to help with its six specialized marketplaces: AeroExpo for aeronautics, AgriExpo for agriculture and livestock, ArchiExpo for architecture and design, DirectIndustry for industry, MedicalExpo for medical equipment, and NauticExpo for boating and maritime. 10 million buyers a month await you.
