Benefits of Using a B2B Portal for Small BusinessesTechQre
Before moving on to the benefits of b2b portals for your small businesses, it is best that you understand this term first. Now, you must have heard this term “B2B” quite a lot in recent times. Well, the literal full form of b2b is business-to-business. You must also have heard the term “B2C” on many occasions as well and the literal meaning of B2C is business-to-consumer.
What exactly is a B2B portal?
In simple words, a business-to-business portal is a website, where business organizations from all over the world meet and trade in large or bulk quantities. You can find thousands of buyers, sellers, vendors, suppliers, manufacturers or wholesalers on this portal, who are looking to trade in their desired products or goods. These platforms or portals are a way for such businesses to come together and act as a bridge between the two parties to make trading possible and easy. Some of the world’s leading websites such as Alibaba.com and Eworldtrade.com are examples for b2b portals, which have made bulk trading easier for business organizations across the globe easier.
How is a B2B portal different from a B2C website?
A business-to-consumer website is quite different from a b2b portal. See, to understand this you need to understand the difference between a customer and a consumer. A customer is anyone, who buys products or services from you. It can be a business or an individual. However, a consumer on the other hand is a person, who consumes the product or service after buying it.
Now, every business, which buys in bulk from another business organization, is their customer. However, these businesses are buying only because they intend to sell the products or use them as raw materials for finished products, which they will sell after value addition. However, a consumer simply buys a product from a business organization with the intent to use it.
Therefore, a b2c portal is a website where business organizations are directly coming in contact with people, who are buying the products to use them. An example for a b2c website is Aliexpress.com, where consumers can buy products from different businesses.
Benefits of Using B2B Portals for Small Businesses
Now, the use of b2b portals has increased tremendously. Over the years, business organizations across the world have started to prefer the use of b2b portals rather than doing business through agents or sales executives instead. Furthermore, due to COVID-19, the trends are changing even faster. According to the recent reports, over 80% of the business organizations across the globe are using b2b portals for bulk trading and the percentage of b2b users is increasing. According to reports, business organization are feeling safe with the business being done through b2b portals.
Furthermore, most of these business organizations shifted to b2b portals only because of COVID-19. However, now they are using it by choice and do not want to go back to their old method of trading.
Here are a few benefits, which your business organization can receive by using a b2b portal for trading purposes.
Low Costs & High Returns
B2B portals do not cost much to use. Yes, they do have their charges but these charges are nothing as compared to the service and returns they can help you with. Now, most b2b portals may charge you somewhere between $500 & $3000. However, after paying this cost, you can easily get an unlimited access to all the information you need to trade. You receive information about thousands of verified traders, which can help you contact them and trade with them. Furthermore, the opportunity to earn a profit from the little cost, which you are bearing, is far more than the cost.
It Keeps the Trading Cycle Moving
One of the most amazing things about being active on a b2b portal is that you can keep the trading cycle of your organization moving by using this portal. With b2b portals, you have an easy and unlimited access to thousands of potential customers or vendors for your business. This means, that you can easily have access to the products you want or if you are looking for a seller then you can easily increase your sales by coming into contact with various sellers on the portal.