Global B2B e-commerce business transactions crossed $12 trillion last year; this shows the bright future of online businesses. Out of all the elements that can be considered the core pillar of e-commerce B2B success, perhaps the Cloud marketplace might be the thickest of all.
The impact of the cloud marketplace can be understood by the fact that it has redefined the relationship between the B2B buyers and sellers.
Hence, as the trends grow, there is an opportunity for the traditional B2B sellers to embrace the online market with open hands and create new sources of income for theory businesses.
What Is A B2B Marketplace?
A B2B marketplace is an online platform for B2B buyers and sellers. Here the seller can put their shops and showcase their products and services to look at. If you have an audience interested in your product, they can instantly purchase it from you.
Depending on the B2B selling nature, a B2B marketplace can also be called by other names. One of the most famous B2B markets is the aws marketplace. It is well known for the wide variety of products you can get from the platform.
If you are a business owner and are thinking why to sell on aws market place when you can have your store. The answer is simple, your store will not have traffic from day1, but selling your product on the AWS marketplace means that you have access to millions of traffic from day1.
Why Are B2B Software Sellers Taking Cloud Marketplace Path?
We talked with some of the B2B sellers and tried to know what they think about the cloud marketplace and whether they are willing to sell their products and services on the cloud marketplace.
The answers we got were surprising; at the same time, we kind of expected those answers. Here we have listed down the reasons why B2B businesses are shifting to the cloud marketplace.
1. Access to Pre-Committed Dollars
While we talked with some of the B2B buyers, we came across a fact that stated that some of the B2B buyers have already committed to paying dollars even before they enter the cloud marketplace.
The cloud marketplace offers an avenue as the B2B seller tapped into pre-committed append, either to make the first payment or the potential to grow a renewal. In times like these, when the company is re-evaluating the budget, these pre-committed dollars are available to see in what path the company is headed.
2. Simplify The Procurement & Accelerate The Deal Velocity
Over time, it has been seen that individuals are trying to reduce the time taken to seal contracts. That means both sides want to have all the relevant information for themselves even before getting into an agreement.
If you are a new business venturer and can accept the cloud marketplace as a distribution vehicle and extend the contract, it accelerates the transaction velocity.
3. Unlock Co-Sell Opportunities
The cloud marketplace is incenting their seller to sell through the marketplace. That means, if you can convince others to become part of the cloud marketplace and sell the goods on this platform, you are getting an incentive.
It can become a significant revenue expansion for your business. If you have a solid story to prove to sell a product on the marketplace is profitable, your revenue just keeps on growing.
4. Get Paid Without Worry
It is challenging to get new contracts; however, if you are working with a cloud marketplace, you get a disbursement of every new contract you sign with your customers. Everyone pays their cloud bills, so when your customers pay theirs, you get your payment as well. It is really important for the small companies who have a hard time collecting their bills from the customers.
The marketplace is a great way to boost your revenue. If you are thinking of using the cloud marketplace to increase the source of revenue, you are certainly making the right choice. To keep yourself updated with the latest marketplace news, keep following us.