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Benefits of Using B2B Portals for Small Business

Over the years, Business to business (b2b) portals have burgeoned radically in the Indian markets. Various websites and startups have budded in the market offering tones of benefits to their customers. The central reason for the growth is the inevitable access to the larger market they provide to both buyers and sellers respectively. The rising competition and increasing popularity of the online portals, the necessity to reduce the operating costs and developing a market share is becoming more and more evident every day. When two trade entities are involved with each other in commercial transactions, either one needs to sustain itself in the industry. Hence, the growth of B2B portals has relied on business that takes part in those transactions and vice-versa.

The foremost constraint of Small Businesses is the lack of finance and resources that the big multi-national companies enjoy. Small Businesses reckon their growth on the ease of finding their resources. The B2B portals step in and help these SME’s to overcome the lack of finance and resources and develop a sustainable business model. B2B portals have some significant benefits that they offer to all small industries. Some of the features include feasibility, and ease of access. B2B portal helps the businesses to cater to the markets that are still primeval. Some of the features that B2B portals provide to small businesses are elucidated below.

Access to the Untapped Markets.

B2B portals are engaged in increasing their footfalls from both, the buyer’s end and the supplier’s end. The sheer number of buyers and suppliers that a business can contact is increasing rapidly. B2B portals have included all traders and industrialists from all across the globe who are looking to increase the market share and sales. Every person registered on the B2B portal can be a potential business opportunity. Getting more responses and inquires is more likely when the aim of everyone on the platform is to do business.

Access to segmented and quality leads

The B2B portals can open a wide array of opportunities for small businesses. With the increase in the visibility to its large user base, it can also segment its targeted audience and reach a specific audience that is related to the sector of business. Reaching out to the people who are looking for something related will help to develop serious leads and demand for the product. Some B2B have a segregated list of lead providers to find high-potential leads.

Gain acumen about the competition

One of the advantages of the B2B Portals is the competitive research platform that they offer. The insight of similar businesses in the same marketplace helps to understate the needs and demands of the customers. While in turn, the customers benefit from the competition, understanding the trend of the industry and competition can also help the business with a competitive edge. Multiple levels such as pricing, product features, branding strategy, etc. of the competition are some of the nuggets of advantage which businesses can develop.

Generate a Virtual Office

Available 24×7, throughout the year this virtual workplace can be viewed by customers and businesses all around the globe. The B2B portals are an effective tool to develop and generate low-cost sales virtually. Businesses can modify the things they want the customers to see. The businesses can also reach out to various suppliers and buyers and compare them before striking a deal. This Virtual office will require less amount of manpower and finance. Becoming a premium member on the B2B portal can help businesses to present their products very effectively.

Augmenting the Search Engine Rankings

Getting traffic from the Search Engine has become a fundamental factor in establishing your mark on the Internet. Going digital is not a choice but a necessity for businesses, especially small businesses that are striving to establish a mark in the industry. Several B2B portals invest laboriously in SEO. The traffic on the B2B portal is directly related to the traffic of the registered businesses on the portal. Small businesses can reach out to a lot more opportunities with the increased traffic.

Overall, the B2B portals in India are a huge advancement for the small businesses as it helps them with an increased exposure. The B2B industry is expected to reach out to 40 Lakh crore by 2020. They are really cost effective and help in many prospects to grow the business. B2B portals are a quick and effortless way to generate more sales and traffic for business.

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