In our previous post, Why a private marketplace should be part of your SaaS growth strategy, we talked about the growing power of marketplaces in the SaaS world. In particular, we looked at how using a private eCommerce marketplace platform can help boost your tech company’s growth. An excellent customer experience, speedier procurement processes, and faster access to the tools they need are all key reasons why modern B2B buyers today prefer to buy from marketplaces.
Today, we’re going to take that discussion a step further by looking at some of the additional benefits of choosing to sell services and apps via an eCommerce marketplace platform.
1. Embracing an eCommerce marketplace platform instantly increases your scalability.
As more and more B2B buyers turn to marketplaces to make tech and services purchases, selling your own apps and products through an eCommerce marketplace platform gives you the ability to reach thousands of customers, all through a single distribution channel. Selling through a marketplace – especially a trusted, well-established one – offers a much more efficient and cost-effective way to scale than through more direct channels, as you’re able to get in front of potential customers who have come to the marketplace on the hunt for a range of solutions and services.
For example, the Partnership Leaders directory promotes both their tech partners and service providers, providing organizations in both categories the opportunity to convert eyeballs into customers thanks to a steady stream of users browsing the wider ecosystem.
2. Sharing a marketplace with your tech partners pre-solves integration issues for your customers.
Using an eCommerce marketplace platform to promote your partners’ services, apps, and products alongside your own does more than just provide your partners with a valuable new sales channel. Remember, B2B customers today want a smooth, holistic tech experience. This means that software and systems from different providers need to seamlessly integrate and share data with one another. By selling your solutions alongside your tech partners’ apps and products on a shared marketplace, you’re pre-solving for the customer by getting yourself in front of users who are looking for products that integrate with their favorite tools and systems.
In addition, selling your products alongside the solutions and services of your accredited partners allows you to win their customers’ trust simply through association. This works both ways, as your partners are likewise able to piggyback off of your reputation by selling their services on your eCommerce marketplace platform.
3. eCommerce marketplace platforms provide a frictionless customer experience.
The B2B buying journey is a notoriously long and complex process, requiring both the seller and buyer to tick seemingly endless boxes. Even once a deal has been signed, project delivery often involves corresponding with multiple contacts on both sides, resulting in a confusing mess of email threads and out-of-date documents.
Thankfully, B2B eCommerce marketplace platforms remove much of the friction associated with the traditional B2B customer experience. We covered how marketplaces reduce friction by simplifying procurement processes and providing faster access to accredited services providers and tools in our post, Why a private marketplace should be part of your Saas growth strategy.
In addition, the best B2B services marketplaces also simplify communication – from the initial introduction and deal negotiation, right through to project delivery, and beyond – by providing a private, secure Customer Portal where all communication can take place in one unified place.
Our Customer Portal also makes it easy for customers to track the status of their project at any time. Here’s an example of what a customer will see when logged into their Morphed Customer Portal:
According to McKinsey, 70-80% of B2B decision-makers prefer remote human interactions and digital self-service over more traditional in-person purchasing interactions. That’s why the Morphed Customer Portal offers users the option of integrating VideoAsk into your marketplace to get quick answers to questions, as well as the ability to communicate with real humans when they want or need to. Finally, when it comes to collecting payment, B2B marketplaces need more flexibility and additional functionality than B2C marketplaces. B2B marketplaces need to be able to accommodate a range of different payment terms – single lump sum, recurring monthly, or based on staggered project deliverables, for example – through a specific solution, like Payment Milestones.