Even though B2B operations and functionings are not new, technological innovations and how the ecosystem moves is constantly changing. Digitalism has brought a sharp shift in how businesses reach out to their users. The traditional ways of finding customers and networks through events and cold calls just don’t fly anymore in the B2B ecosystem.
While on one hand, digitalism has expanded the opportunities for B2B entrepreneurs. On the other hand, it has also made the space all the more competitive.
In this article, we are going to look into the top six platforms that bring businesses together, thus helping them grow together. But before we get on it, it is very important to understand how the minds of B2B customers works – one way to do that can be to build a B2B user persona.
The topic, in itself, is too vast to cover in this one article, so will keep this piece focused on getting you acquainted with the best B2B platforms.
Before we get started with the platforms, let us first look into the benefits that entrepreneurs can draw from them.
Benefits of B2B Platforms for Businesses
- Direct, speedy communications: the platforms act as a direct place for the vendors and entrepreneurs to collaborate – which in turn removes middlemen involvement from the mix.
- Direct transaction data integration.
- Greater possibility of getting offers and discounts, thus bringing the expense down: with no third-party intermediary in the picture to up the price, vendors tend to offer more offers and discounts to the entrepreneurs reaching out to them on the platform.
- Depersonalization of the purchase giving more opportunities to new entrants.
- Lowered hassles: Lesser commercial visits, expedited negotiation process, etc. All of this, in turn, gives buyers the benefit of price reduction while sellers can increase their margins through a few clicks.
Now that we have seen the benefits that businesses can draw by being present on B2B platforms, let us now move on to look into the different platforms which are active in the market today.
The Best B2B Platforms That Can Help Your Business Grow
Global Sources has created an important and reliable name in the list of B2B platforms that help businesses connect with vendors who can elevate their businesses.
The company serves as one of the top B2B platforms listed in the NASDAQ as a GSOL. It is popular because of its community that is made of authentic suppliers from a number of different industries. The platform started in 2000 and assists imports and exports in the international market. This, in turn, attracts small medium and large businesses across the globe.
On a holistic level, Global Sources act as a directory made of global manufacturers and suppliers. According to statistics, more than 100 retail chains across the world use Global Sources services for connecting with suppliers and manufacturers.
It is a China-based private consortium that focuses on eCommerce on the internet, including retail, consumer sales, and business-to-business. They also provide support facilities like online payment, price comparison search engines, and cloud data storage.
The brand is listed on the Hong Kong Stock Exchange. It is also one of the biggest B2B platforms around the world which has served over 35 million customers. Alibaba also has ten associated companies by the names of AliExpress, Aliyun, Alipay, Alimama, China Smart Logistics, Taobao, Tmall, Juhuasuan, Alibaba China, and Alibaba Central.
It is a new B2B website which has achieved a good reputation in very little time. It offers a digital approach to both buyers and sellers for collaboration.
Located in Texas, the B2B platform assists Chinese suppliers, mediators, and manufacturers on their business journey. In fact, there are thousands of sellers, dealers, vendors, suppliers, and manufacturers who register on the platform every day for meeting with new potential clients based in different locations across the globe.
The platform provides them a whole range of different products and services. Its wide exposure set has made eWorldTrade one of the top platforms that offer businesses a sure shot way to globalize.
It is a B2B platform that enables importers from around the world to purchase small volumes of Chinese items at a wholesale price. The platform markets over 30 million products including – decorative items, electronic gadgets, clothing, sports accessories, etc. in more than 227 global countries.
A number of suppliers provide products with RoHS, CE, and FCC certificates. This is one of their ways to enter the United States and European markets which ask for strict compliance of standards like CE, FCC, and EN71.
It is one of the most extensive B2B marketplaces in Asian countries like China, India, Pakistan, Malaysia, Taiwan, and Bangladesh.
What separates the platform from the others in the list is that it offers them three key services, which include
- The offer to buy: the people who are looking to buy products can leave a request on the platform and the suppliers then contact them.
- Wide options of companies and products: the platform offers a number of companies and products choice distributed according to manufacturers, wholesalers, and factories.
- Option to become resellers: the platform offers people to become the resellers of exporters, wholesalers, and SMBs on the platform, giving them the opportunity to earn commissions without any limitations.
It is a B2B platform that focuses on helping SMEs connect with vendors who would offer them products at affordable rates. What makes Kinnek different is its focus on clients in place of sellers. Instead of making sellers publish their product advertisement on the platform, it enables SMEs to post item requests and in turn, they connect them with the right suppliers.
Kinnek has developed an algorithm that identifies qualified sellers who are likely to sell the requested goods and then notifies them. The supplier, in turn, provides information and quotes on the cost of the product.
While still fairly new, the user base on the platform is continuously growing at the rate of 30 to 40% every month.
So here were the six B2B platforms that are known to help businesses connect with each other and grow their brand. Another platform that we would like to suggest, one which has been time tested for its networking prowess, is LinkedIn. By being present on the platform, you can make yourself open to a number of entrepreneurs who might be looking for something that you have to offer.
The question at this stage left unanswered is which platform to choose. With a number of B2B platforms that have emerged in the ecosystem, how do you decide on which platform would help your business best?
The answer to this lies in a platform that is made of a huge number of vendors and offers a slew of multiple product choices for the entrepreneurs to choose from. Only when you get a variety of product choices would you be able to find the best partner to aid your expansion and growth story.
Which B2B platform do you rely on for your business needs?