How B2B Portals Help Business GrowUmesh Modi
Business Development is the ultimate goal of any organization, be it a multi-national corporation or a start-up. Generating more sales, getting more business and growth are an integral part of any organization.
As we all know, Sales is really important for the business and is difficult to generate when it comes to small businesses. Simply because they have not yet created brand value like industry giants. However, with the help of the internet and B2B portals, it has now become easier for small businesses to generate sales and revenue. Bigger players too can and do avail their services for it provides the convenience of getting business without leaving your office. B2B portals offer wide-range of benefits for business.
B2B portals help the business gain visibility. It allows your business to be visible across the globe. This creates an opportunity for businesses to cater to a larger market. This is great for businesses that are affected by seasonality. Obviously small and medium businesses benefit more because otherwise, they would have to spend millions on marketing to get the same visibility, which is not feasible for them as they need to save the funds for operational cost. B2B portals help them get more business and become a global brand.
Local and Global Trends:
This also ensures a place in the local market. You become part of a large group within the country, the group that consists of other buyers and sellers. It keeps you updated on market developments and trends, the new products, your competitors etc. B2B portals organize many trade shows which help SME's connect with other businesses in the community.
Innovation is the key to success. It is the only way to sustain in today's world where there is a new company coming into existence every day. As B2B portals have global players it can help one understand the global business trends. International players are constantly coming up with new innovative products and marketing ideas. Small and medium businesses can learn from them and gain knowledge about the industry trends through B2B portals and come up with innovation and ideas of their own.
Earlier companies had to rely on their sales staff alone to generate revenue. Today they can diversify their sales operations and register on B2B portals. You can get access to millions of buyers and sellers online but this can be time-consuming as you do not have the time or manpower to invest in making the calls and inquire about their needs. B2B portals help automate the whole process. You can choose to follow certain companies and even provide the portal with certain keywords that would help your business generate relevant queries. On B2B portals business receive relevant and authentic queries. They offer verification services to ensure that the queries come from genuine buyers. The verification is done through calls and these calls are made to all the registers users. A feedback form is also provided to the buyers after sales to get supplier ratings. Some B2B portals even allow to write feedback on their website to buyers and seller can share their experience. Due to all of these precautions taken by the portals, businesses receive 100% genuine queries that make their business more profitable and reduce the costs of overhead anywhere between 25-30%. Generating business in India is as cheap as 500 rs. Today thanks to the B2B portals.
Search Engine Optimization (SEO):
According to studies, India had about 390 million internet users in the year 2016, this number is just going to go up with time. Going digital is not a choice but a necessity for the businesses. There are many benefits for businesses in this digital era.
Digital marketing is one such revolution that helps businesses market their brands in a cost-effective manner. Especially small businesses that face constraints when it comes to funds. If you have a business, you must have a website and if you have a website, you need search engine optimization. However, as everyone is using SEO and SMO, it has become rather difficult to get traffic to your website. This is where B2B portals come into the picture. B2B portals not only help cover the branding cost to a great extent but also get more traffic on your website. B2B portals invest a lot of money an time in SEO and SEM. This allows them to rank high in the google search. When one registers on these portals, they can use the search engine strength of the portal for their benefit and get traffic on their website without investing in various online marketing campaigns and waiting for months to see the results. B2B portals are a quick and effortless way to generate and increase traffic on the website. These portals also provide businesses a chance to get higher rankings on the internal search page of the portal. If you are a premium member of the portal, you can showcase your logo and product along with the high ranking products. Apart from gaining visibility and traffic, what this also helps with is it gives SME's a place along with the leading companies. This provides them with a competitive advantage.
B2b market is growing at an astonishing rate and is expected to reach 40 Lakh crore by 2020. B2B portals can change the game for your business. They are cost-effective and offer many benefits to the business. The best part is businesses can pass these benefits on to their customers without compromising on their profit margin.