Written by Jeyakrishnan
Senior Manager at Royal Cyber
If you’re a distributor helping B2B audience, or a manufacturer trying to find innovative growth channels, you might be considering the paybacks of selling on other platforms and it doesn’t offer long-term growth for anybody but for the marketplaces providers like Amazon, Alibaba & others.
Rather than selling on somebody else’s platform, B2B manufacturers & distributors started to launch their own online marketplace to provide their customers with a one-stop-shop for the enterprise tech solutions that they need. On the Store, customers can research, compare, and buy products. Everything is sold and shipped by the partners, who now have an online channel to initiate sales without having to be a part of platforms like Amazon, Alibaba & others.
With their own marketplace, they get a new source of income. They also own the search data and transaction instead of handing those competitive insights over to another marketplace operator, and the important part is, their customers and partners have a better experience. Once the marketplace is launched, they are in the process of expanding the product range, reaching over millions of products listed. They will now be faster & more efficient for their customers, and their collection will be growing without having to list everything.
Initially, there was no way to purchase the Material Handling of OEM parts online. Customers who wanted parts for forklifts or other equipment used the company’s online dealer locator to find a dealer in their area. They will make a call to a sales representative, thus taking the sales offline.
The Material Handling team saw an opportunity to strengthen their position at the forefront of the B2B marketplace revolution and offer new resources to drive sales for their network of dealers by investing in a direct online sales channel. In April 2019, they seized the opportunity by launching a Mirakl-powered Marketplace: online parts Store.
Once the Material Handling used Mirakl’s complete turnkey solution to develop an online marketplace to meet the growing demand for service parts online. Now, with that online Store, the Forklift Material Handling is offering the only online source for real Genuine Parts, thus increasing their business visibility & market growth. This, in return, increases the marketplace seller offerings & thus will increase by 5-fold without investing in new inventory, lowering customer transaction costs, and speeding transactions.
At Royal Cyber, we have a great experience in understanding the marketplace opportunity for B2B companies, and now it’s only getting bigger. As a Mirakl Marketplace Solution partner, we have an agile & disciplined implementation methodology that is highly flexible and focused. All B2B companies need to look at what digital means, as the business model will change & be ready to ride the wave. For more information, you can email us at [email protected] or visit our website www.royalcyber.com