The internet is the most powerful tool any business today has at their fingertips, and yet it still remains under used. Those who recognize the potential that it offers are miles ahead of their competition. Not only is it an excellent tool for product and company promotion, it’s valuable when it comes to managing suppliers. You should be using B2B Exchanges to find new suppliers for your business.
B2B stands for business to business e-commerce and it’s use is increasing. More than 80% of businesses are using the internet in one form or another, so it just makes sense that you would turn to the internet to find new suppliers and get your products at the lowest possible price. Because when you reduce your cost of goods, you increase your revenues. However, you don’t want to be using a ton of resources surfing looking for suppliers so what do you do. You use B2B exchanges.
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A B2B exchange is simply an online market where sellers, buyers, and intermediaries come together to offer services and products, exchange views, and conduct business. B2B offers you an easy way to source out new suppliers and decrease your cost of goods.
When you become a B2B member, you open the door to finding highly functional, easy to use channels for your business. As an added benefit you expose your business to a targeted audience you would not otherwise have exposure to.
At a B2B marketplace, you will find suppliers posting goods for sale, combined with buyers who are looking for specific goods. This type of global exposure wasn’t available in the past. How do you think big box stores like Future Shop, Target, or Walmart, keep their prices so low? They source out the best possible supplier using tools like B2B exchanges.
What you will find on most B2B Exchanges:
- Marketplace – a place to buy and sell your goods
- Electronic Catalogue – you can add products or services to the online repository which is a collection of all members goods
- Web Store – you can create a B2B website for an online e-commerce site, where you can conveniently handle online sales.
- Auctions – this is one of the most underutilized tools on a B2B exchange. It’s a great way to get a deal on products and to sell off overstocks. What’s an overstock in one area can be a hot item somewhere else.
B2B exchanges offer you a convenient, affordable method to source out new suppliers offering the products you need at the best possible price. Don’t miss out!
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