YOUR B2B ONLINE MARKETPLACE QUESTIONS – ANSWERED
Below you will find answers to some of the online marketplace questions we get asked most frequently about the SouqBox platform and the digital marketplace opportunity for B2B businesses. If you would like further information on an area not covered below please email us directly by clicking here and we will be happy to help.
A Marketplace Platform is a form of e-commerce that connects potential buyers and sellers within one platform to help market, source, negotiate and set up their trade terms and conditions on a secured payment environment.
- The technical details of selling on a marketplace such as hosting, technology, payment gateways, accounting software, and other necessities for selling online are passed to the platform owner.
- New businesses can quickly get off the ground with relatively low startup investment by using a virtual marketplace to promote and sell both their own and third-party partners goods and products.
- Digital marketplaces tend to attract more traffic than stand-alone e-commerce stores
It is easy to trade via any internet connected device with anyone from anywhere in the world at any time of day or night.
- Established marketplaces can provide safe and trusted environments for both buyers and sellers.
- Using a marketplace platform eliminates any middleman in a transaction, saving money for both buyers and sellers.
- It is possible to run a marketplace independently of an existing traditional business model.
- As digital marketplaces focused on B2B sectors are relatively new, the opportunity for early adopters to dominate markets and generate significant revenue streams is a reality for many business areas.
If you were to build your own marketplace you would need considerable investment and a team of highly skilled engineers. Below is a list of just some of the features you would need to develop:
- Securely Hosted Tools
- Storefront design
- Marketplace Management
- Search Engine Optimisation
- Technical Support
- Payment Gateways
- Analytics Tools
- Dispute Resolution
- Data Management
Fortunately with platform solutions such as Souqbox someone else has already invested the time and money in building the structure and back office functionality so you don’t have to.
Getting started is almost as simple as adding your own customization and populating the products. So instead of waiting for months if years before you can launch your marketplace you can be trading within days.
There are several marketplace platforms currently available each offering different solutions, features and pricing plans.
However most are focused on the B2C sector. Souqbox is the only marketplace platform in the UK specializing on the specific requirements of B2B sector traders.
Our platform has been designed from the start with features such as the ability to negotiate on price and order if different quantities. This functionality is fundamental to B2B trading and can’t just be a bolted on to a system meant for B2C sales.
If you are interested in finding out more about the B2B marketplace opportunity we’d be happy to help with any questions you may have.
We can also arrange a free demonstration of our platform in action and for a limited time we can even offer you a free trial.
To contact us please either click here for email or call us directly on +44(0)1234 567890.