|Make Money, E-commerce and Credit Card Processing Information|
Selling Globally Through a B2B Exchange
Participation in B2B Exchanges is increasingly becoming one of the fastest growing marketing methods for businesses looking for augmenting their client base beyond their local markets. Any good B2B Exchange offers direct contact with thousands of prospective buyers in a single location. For some new participants of a B2B Exchange, it appears to be a goldmine as they discover unexpected quantity of readymade clients without much effort from their side. Of course, there are many other great benefits companies can reap from getting involved in a B2B Exchange.
What is a B2B Exchange?
In a broader sense, Business to Business Exchange is an online platform where buyers and sellers come to communicate, collaborate and make business transactions. B2B Exchange caters a large number of participant companies as a community. The main objective of a B2B Exchange is to create a venue, filled with features that allow members to efficiently conduct business processes through the Internet. B2B Exchanges are also known as e-marketplaces.
What are the benefits?
B2B Exchanges are capable of helping companies in buying, selling and streamlining their business processes. The benefits of participating in a B2B exchange may include:
a) Efficient inventory management:
Integration of your products and services with the Electronic Catalog of the Exchange will help you manage inventory more effectively.
b) Better customer relationship management:
Ability to have constant interaction through the Exchange allows you to serve your customers better. You can track the whole ordering process from payment to delivery and bring greater efficiency in customer service.
c) New sales channel:
By becoming a member of a B2B exchange, you open a low cost, highly functional and easy-to-use sales channel for your company. You expose your company to a new targeted audience which otherwise would have been untapped to you.
d) Save significantly from reduced paper works:
Automated supply chain management helps trimming down paper work greatly.
e) Eliminate rogue spending:
Consolidated and automated procurement and approval method stops unauthorized purchasing in a company.
f) Community participation:
You can receive valuable feedbacks from other fellow buyers, receive industry-related information, build new partnerships and use the networking ability of a community.
Tips for Success
The key to ensuring success with B2B Exchanges are in planning, active participation, learning the tools necessary to use the Exchange effectively and dedication to work through it.
1. Choosing the Right B2B Exchange
Although, there are huge benefits in participating in a B2B Exchange, you have to be careful in selecting one. Not all B2B Exchanges might work for you. There are thousands of B2B Exchanges available on the Internet. Some are industry specific, some cater only certain geographical areas, and some concentrate more on delivering business tools to the participants. The challenge is to select the right B2B Exchange, which will serve your particular needs.
In order to conduct the selection process you must establish certain goal. Possible objectives for you should be to:
? Generate sales
? Get access to a large numbers of buyers or sellers
? Find distributors and importers
? Enhance customer relationships through online tools
? Develop product awareness
? Extend market shares
? Conduct market research
? Streamline supply chain
? Automate selling process
? Adopt e-procurement
Your goal should combine several of these objectives.
In evaluating a B2B Exchange you also should consider whether it has following features, as these features are vital elements for any good B2B exchange.
1. Product catalog based on an industry-standard classification system
2. Product search capability within the marketplace and e-catalog
3. Directory of members
4. Product content adding and editing interface
5. Ability to promote products and services
Other key characteristics of a B2B exchange also include:
Simplicity ? Primary tools of the exchange should be easy to learn and use.
Significant membership base ? The quantity of members should be big enough, so that new participants can expand their business from the very first day.
Flexibility ? The Exchange should add new and modify existing tools according to the market need.
Neutrality ? The Exchange owners should be unbiased and maintain absolute neutrality. Providing an open and transparent market for all the participants is an important constituent of the value proposition of a B2B exchange.
Participation in a B2B exchange in order to achieve successful result is a serious commitment. Study the exchange of your choice thoroughly. If they offer trial membership, subscribe! Spend time on learning the tools - how they work? Are they beneficial to you business?
Proper preparation will help you:
- saving money
- making seamless adoption
- increasing productivity right from the beginning
- reaching your goals faster
However, poor preparation can get you into serious trouble.
- You may encounter higher costs
- Productivity may suffer significantly
- You even may be forced to abandon the whole idea
The primary factors of company productivity are Revenue Increase and Cost Cutting. Both are easily achievable if you adopt a quality B2B exchange, train your stuffs to use it effectively, integrate exchange's various tools to your advantage and slowly but consistently make it one of your primary channels for buying and selling.
For more information on B2B exchanges or E-marketplace and how these Internet based platforms can help you, read other articles located at http://ezine.rusbiz.com/topic/2.html
Nowshade Kabir is the founder, primary developer and present CEO of Rusbiz.com. A Ph. D. in Information Technology, he has wide experience in Business Consulting, International Trade and Web Marketing. Rusbiz is a Global B2B Emarketplace with solutions to start and run online business. You can contact him at firstname.lastname@example.org
The Art of Being Human
This isn't the first time I have written about the benefits of inserting a human voice or presence into your online communications. And I make no excuse for writing about this again.
Website Marketing: 10 Resourceful Things You Can Do With A Product That Doesnt Sell
Do you have any product that has not been moving well?
How To Sell Websites Fast !
This article will explain in depth the steps needed to sell your website fast in today's marketplace.
Guide To Safe Online Shopping
Online shopping can be a little frightening to people who are new to the internet,but as long as you follow a few easy rules you should have no problem shopping online.
E-marketplaces from Sellers Perspective
What is an E-marketplace anyway?
Intranet Portals ? Collaboration through Team Rooms
Knowledge Management for beginners
Government Buying and Selling on the Internet
Global Insight, a leading economic and financial forecasting company, (formerly DRI-WEFA), states that all levels of government (federal, state, and local) should see steady increases in the purchases of goods and services through the year 2009.
Is It Easy to Build An E-commerce Web Site?
Google Catalogs - Old Gashioned Mail Order Meets High Tech Search
In addition to Google's Froogle shopping service (still in beta), which features a searchable database of online merchants, Google is also beta-testing their Google Catalog service. Google Catalogs provides a searchable central repository of hundreds of mail-order catalogs.
Online Shoppers Say They?ll Buy from Small and Large E-Businesses Alike
As the holiday shopping season begins in earnest, consumers say they're just as willing to buy from small online retailers as they are from large, national e-commerce providers.
Increasing E-Commerce Website Sales: A Guide for the Online Newbie
Because of this encouraging surge in activity, many individuals are now interested in becoming e-commerce merchants. To profit from your online business, you must first produce a unique website that will intrigue visitors and interest them in your items.
Leading eCommerce Consultant Admits You Should Only Listen to One Real Expert! (And its not him!)
Let me share with you a secret that most marketing experts and consultants don't want you to know? (many of them don't even understand this secret themselves.)
Mr and Mrs Smith Go Online, as Internet Technology Moves from Fantasy to Normality
According to NOP World, 48% of all Internet users have researched or purchased financial products such as insurance and loans on the internet, or used online banking facilities. In April, NOP World had already recorded estimates of 28 million people online in Great Britain, with 13.5 million exploiting the Web for their financial requirements.
Say Something Worth Talking About
I recently published a short e-book called 'One Thing I Know About Doing Business Online'. Seventeen people contributed - including Seth Godin, Jeffrey Zelman, Danny Sullivan, Jared Spool, Gerry McGovern and Ann Handley.
Effective Management Of Your Customer Services
With a third party merchant account you will have a dedicated 24/7 support team to handle your credit card payment on your behalf as part of your package. You will also need to provide your own support for issues relating directly to your product.
Accept Credit Cards Online Without A Merchant Account
It is often assumed if you want to accept credit cards on your website that you must have a merchant account. This is not the case. You can accept credit cards with a Third Party credit card processor.
Prompt Delivery Rules ? Internet Product Sales
The Internet is the fastest growing source of mail order sales. The explosive growth in the goods and services sold online has in the past taken many online sellers by surprise: demand has outpaced supply, depleting inventories and disappointing customers. This can lead to serious problems with the FTC.
Pitfalls of Doing Big International Brokerage Business Online
Nothing has helped international brokerage business more than the internet: it enables a businessperson to do business with little or no capital and to make quick contacts. Yet nothing has made the brokerage business riskier. This comes from a broker unknowingly linking genuine or false buyers with genuine or false sellers. Other ingredients also exist to cook the broker an unpalatable soup.
Eleven Things You Must Know About A Drop Shipping Directory And Its Company
1. Balance - You want to find a directory rich in many different categories of products rather than the quantity of products available. Many of the directories try to advertise how many products are available in their directory (i.e. 500,000 products). Why is the number of categories important? A directory will not serve you well if it has hundreds of thousands of products, and none of them are in your product interest category. A directory with a good balance has focused on their categories of drop shipper products rather than the quantity. This gives you a better chance of finding something for your line of business.
Coupons & Rebates
Yes, it's true, coupons are not just for newspapers anymore. Not to be a downer, but I personally hate the things. I can't imagine ever voluntarily wasting a perfectly good Sunday morning, getting paper cuts from cutting out the darn things: but to each their own. My opinion aside, there is no question that coupons and rebates are an effective sales technique. Printable coupons can be added right onto your website and cash rebates can be offered on your products (EVERYONE loves getting cash back.) The process of putting the little guys on your site is very simple and will definitely help boost your sales.
© 2020. Online Media . Site designed and maintained by