Why Online Marketplaces Won't Replace Owned B2B eCommerce Platforms
The fact is that large- and medium-sized vendors have their own online stores, often with well-developed B2B ecommerce functionality and sales flow. Therefore, participation in marketplaces has its own limitations for them. Let's look at these limitations briefly.
The most common complaint about private marketplaces is the unavailability of customers’ data to the supplier(s). The supplier has no way to send reminders to the end customer, and get the client back to the sales pipeline. Also, suppliers often complain about pressure from the marketplace to participate in various local marketing, low-margin campaigns that are not beneficial to the supplier. Examples are marketplace-related events like its birthday or version update, i.e. events not interested neither to the buyers nor the suppliers.
On partner B2B marketplaces, the opposite problem happens after making a quotation request in a marketplace; the client is transferred to finalize the deal with the partner directly. Then the partner sells to the client, and the deal may include various additional options and extras. The owner of the marketplace will then not know about them and not get the commission on it.
Summing up, for any company to develop new sales channels, including online marketplaces, this has arguably become the norm for success in the market. But the truth is that having one’s own B2B ecommerce platform for midsize and enterprise businesses should be the mainstream of ecommerce, allowing the platform to properly select, develop and implement.
As a tool, a company's own B2B ecommerce website gives you much more opportunities to work with clients and apply a whole arsenal of marketing and sales techniques to your client base. It is important here that from a technological point of view, such a site is capable of being up-to-date for years to come and does not require re-platforming every few years.
Try Virto Commerce’s platform, which is API-based, cloud-ready, fully customizable, extensible, composable, and growing with your business.