Showing posts with label Marketplaces. Show all posts
Showing posts with label Marketplaces. Show all posts

Friday, July 28, 2017

How To Buy Efficiently From B2B Marketplaces?

How To Buy Efficiently From B2B Marketplaces?
B2B marketplaces are excellent platforms where you can browse listings of potential vendors and suppliers from around the world and make online purchases. However, in order to leverage the full benefits of online bidding and to ensure that you get the best products for the best prices, you need to know the right tips and tricks to buy on B2B platforms.

Here are some tips that will guide you to make efficient purchases from B2B portals:

Complete your Company Profile and Contact Information
In order to establish a strong and credible presence on a B2B portal, you need to complete your Company Profile and include your contact details. Sellers prefer to contact buyers who provide detailed information about their company and business. Buyers who don't complete their profile or who fill-in incorrect information are not considered serious about doing business and find it more difficult to source their desired products.

A detailed Company Profile and complete contact details not only establish your credibility and authenticity, but also provide potential customers an insight into your business. Make sure your profile includes your company logo, history of the business, key verticals etc. in addition to your email address, phone, fax and postal address.

Search for Products & Suppliers
B2B websites typically offer search functions so that you can enter relevant keywords and find your desired products. Make sure you select the right category from the list to reach relevant suppliers and vendors.

Communicate your Requirements
When you send an email to a potential vendor or supplier, make sure you include all the necessary details pertaining to your desired products including product specifications like model, quantity, mode of shipment, delivery port etc. This will inform the sellers about your exact requirements and, in turn, they can send you appropriate offers. Remember, effective communication is the key to successful trade.

Post your Product Requirements
When you post your product requirements (i.e. a description of your buying needs on B2B portals), a large number of industry sellers can view it and send you their bids. You can compare the bids and make your buying decision effectively. Make sure your RFBs (Request for Bids) contain relevant details such as product specifications, model, quantity, shipping and destination ports.

Respond to Bids
After you post your RFB, it’s important to view your received bids regularly and respond to them on a timely basis. Once you start receiving bids from sellers, you need to send emails to some chosen ones. Select the ones that appear close to your required specifications. After you short-list these, compare the offers for prices and other terms and conditions and respond to the ones that are the most appropriate. If you are interested in particular sellers, you can try to bring them to mutually agreeable terms. Remember, smart negotiations can make even a less attractive quotation into a profitable purchase. So, keep your options open! Make sure you stay in continuous communication with sellers. After a few email exchanges, you may actually close a very favorable deal.

Trade Safely

Even though B2B marketplaces are professional trading platforms, you need to secure your business. Therefore, follow all the necessary guidelines and investigate your possible future business partner. Research about prospective sellers and investigate their contact details.

Disclaimer :  Sabra Easterday is the owner and founder of MatchB2B.  Sabra is also a lawyer with a special interest in business issues and e-marketplaces.  Notwithstanding that Sabra Easterday is a lawyer, nothing in this article and no services of MatchB2B or its website are legal services and no attorney-client relationship exists between any reader of this article or user, customer or potential customer of MatchB2B, and MatchB2B, its website or Sabra Easterday.

Sabra Easterday is the founder and managing member of MatchB2B, a professional online trading portal that allows buyers and sellers from across the world seek compatible business partners. Businesses can hire online services and also advertise their business on the portal.




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