How to Not Compromise Brand Identity: Taking Advantage of Marketplace Opportunities
Using a B2B marketplace as an opportunity to expand product assortment
When customers are online, they are always one click away from a website that has what they are looking for. It’s important to keep that in mind because unless you have what customers want, they will switch to a place that does. Marketplaces, in this instance, provide a single point of entry for a wide range of customers, all looking for different products.
When customers head to a company’s site with a specific product in mind, they don’t want to find out that it’s out of stock or missing important complementary items. Chances are they might not be returning later. Creating a B2B marketplace with multiple vendors solves this predicament. By connecting numerous diverse sellers on a single B2B ecommerce platform, the company can expand product assortment, thus increasing the chances of catering to the customer’s particular wants and needs.
Besides providing a wider assortment, marketplaces collect vital data that can be further employed to optimize the customer’s experience and develop new products and services.
Moreover, as it happens, a broader selection of goods and services contribute to an increase in customer satisfaction. According to Mirakl, a wider assortment increases the CX index score by 1.5 basis points on average.