The Top Ten Reasons People Buy from a B2B Marketplace
So, your customer is looking to B2B buyers something specific. A new pair of scissors, a 56-gallon drum, or maybe they just want to resell an existing product. But where do they go?
A small business owner might have their own trusted suppliers for products. Someone with the luxury of time might start by searching Google or Yelp to see which local stores stock the item in question, but someone who needs it right now likely has ten different browser tabs open and is clicking through eWorldTrade, Amazon and eBay, checking Alibaba and Global Sources, scanning Craigslist and US Free Ads, and signing up for alerts from dozens of different companies at once. They’re drowning in options, so they probably aren’t even going to get around to buying today. Which of these B2B marketplace will they buy from?
There is no one-size-fits-all answer, but here are ten reasons why people might choose to buy from a particular B2B marketplace:
1. The B2B buyers has what they need.
If your customer needs a specific item and that item is only available from one supplier, they’re going to have to buy from that supplier. This is especially likely if the supplier is the only one who makes the product.
2. The quality of the product is high.
Customers are more likely to buy from a marketplace if they know that the products available there are high quality. Quality control is a huge issue in the B2B buyers world where a single mistake on a purchase order can mean months of delays or even lost deals. With more quality controls in place, customers might be willing to buy from a B2B marketplace that they know will only carry high-quality products.
3. The price is right.
If the customer is able to get the product for less from your marketplace than they can anywhere else, they’re probably going to buy there. If you’re an established company with decades of experience under your belt, this might not be as big of an issue because old businesses tend to have lower prices than newer companies just entering the industry. However, if you’re new and unproven then it becomes critical to sell at reasonable rates if you hope to develop a good online presence.
4. The customer has a relationship with the supplier.
It can be incredibly frustrating for customers to buy from a new business if it means they don’t have the same sort of rapport that they had with their previous suppliers. Customers who trust and like you will probably buy from your B2B marketplace again, but those who distrust or dislike you might not, no matter how good your prices are or how high-quality your product is.
5. They’ve made purchases in similar categories before and liked them.
Just as we shop at places where we already know we’re likely to find what we want, so too do people tend to stay within their comfort zones when buying certain types of products. If someone has bought from you before, there is a good chance they’ll buy from you again.
6. The Customer knows and trusts your brand.
Having a strong online presence and reputation is probably the biggest thing that will influence your customers to buy from you over other B2B marketplaces. Customers who don’t know or trust you might not even consider buying from your store because of the higher risk involved in making such a purchase.
7. The product is unique enough to have its own demand but common enough that it’s worth buying in bulk.
There are lots of products out there that are just plain ordinary, but there are also plenty that are so rare or specialized that only one supplier can offer them while everyone else is out of luck. If the product in question is common enough that it makes sense to buy in bulk, but rare enough that there’s no other way to get it, customers are likely to go to your B2B marketplace.
8. The supplier offers a great selection of products.
If the customer is looking for a one-stop shop where they can find everything they need, they’re going to go to your B2B marketplace. This is especially true if the wood buyers & supplier offers a wide variety of products that cater to the customer’s specific needs.
9. The supplier has a good reputation.
A good reputation goes a long way in the business world, and customers are no exception. If the supplier has a good reputation, B2B buyers will be more likely to buy from them, regardless of whether or not the product is available on your marketplace.
10. The supplier offers good customer service.
Even if the customer has a great experience buying from your B2B marketplace, they’re still going to need help from the supplier sometimes. If the supplier is known for offering good customer service, that’s going to give your marketplace an edge over others.
The Top Ten Reasons People Buy from a B2B Marketplace (or not) is an interesting and captivating topic. If you need help determining which of these reasons might apply to your marketing strategy, let us know. Our team of experts are ready and waiting to partner with you to create a stellar SEO or marketing plan that drives sales by considering how your customers think. Which of the above cognitive neuroscience principles have you applied?