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Posted 06/01/2021

What is B2B Service Marketplace?


What is B2B Service Marketplace?

One of the most frustrating aspects of establishing a business is finding customers. More often than not, this is because small business owners invest in marketing channels that do not work for them.


One of the strategies B2B businesses should consider to find more customers is joining a marketplace. There has been a rise in the number of marketplaces in South Africa. Most marketplaces cater to business to consumer (B2C), however there are a number of business to business (B2B) service marketplace available in South Africa.


What is a B2B Business?


B2B businesses sell business products and services to other businesses. 


Examples of B2B businesses are Bidvest's Walton which provides office stationery and The Workspace with shared office spaces.  


B2B businesses that sell business services are different as they render a service rather than provide a tangible product. These services include accounting services, commercial law, IT companies, web development and many more. 


What makes B2B different from B2C? 


Since B2Bs and B2Cs are so different, their approach to key business processes such as marketing, their target market, sales funnel and strategies are also bound to differ. 


Here are three differences between a B2B and B2C business that you need to take note of:

 

  • Target market

The target market is the biggest difference between B2C and B2B businesses. B2C businesses' target the individual customer who is the decision maker, whereas with B2B the decision maker is a group of individuals who make decisions on behalf of their business, such as the CEO, HR or IT heads. 


  • Sales strategies 

How a customer makes a purchasing decision will also differ depending on whether you are a B2C or B2B. B2C customers are driven by emotion and experience, this is why it's important to speak to their emotions, as their purchase intent is largely driven by the benefit, experience and quality 


B2B customers are looking for logical reasons to make a purchase and are mostly driven by the need to get the most out of the purchase and to get a solid return on investment. B2B customers also need to be educated and will want to know how the product or service will benefit their business and help them to reach their goals.  


  • Sale processes

The sales process for B2B businesses deals largely with customer relationship management (CRM). As a business owner, it is important that you continually remind the customer of the value they will get by using your service. It's also critical to upsell and to keep the lines of communication open. B2C businesses also need to constantly remind their target market of their product/service and to communicate it to remain top of mind. 


Which businesses can register as a B2B on service marketplaces? 


Now that you know the differences between B2B and B2C - to list your particular business on a marketplace you need to find out if your B2B applies/can be listed.


On a B2B service marketplace only businesses that offer a service that is rendered to other businesses. An example of a B2B marketplace is Serv which connects SME service providers with business owners looking for business services.



Which businesses can list on Serv? The following businesses can list on Serv


  • Accounting firms - businesses that offer accounting, tax, payroll and financial reporting can be listed on Serv. 
  • Digital marketing agencies - agencies that offer digital marketing services such as PPC, SEO, social media, content and email marketing, video marketing and SEM. 

  • Creative agencies - businesses that offer branding, advertising, public relations and communication agencies. 

  • Training and development  - businesses that offer training to other businesses including sales training, development training, first aid training, safety training and business training. 

  • Web design agencies - businesses that offer web and mobile application development.  

  • SEO agencies - any businesses that offer SEO services

  • Business consultants - business management, financial consultancy, business brokerage, property consultancy and more. 

  • Business law firms - businesses that offer commercial law, labour law, contracts law and any industry law. 

  • IT Services and Support - businesses that offer IT services, AI services, IT support and VOIP and VPN networks. 

  • Social media agencies - business that offers social media management services.

  • Logistics and supply - business that offers goods transportation and logistics services. 

  • Recruitment services - businesses that offer permanent, temporary and contract recruitment. 


Why should businesses list on a marketplace?

 

1. A marketplace offers an alternative way for you to market your products or services. Small businesses can market their businesses on marketplaces and reach larger audiences. 

 

2. Small businesses without big marketing budgets can use marketplaces to advertise their products or services for a small fee. 

 

3. Being listed on a marketplace allows your business to be exposed to new markets beyond your location.

 

4. Customers are more likely to trust your business or services when they can see that others have used your services and are happy with the services rendered. Your customers act as your brand ambassadors. 

 

5. A marketplace allows customers to compare quotes. This means that you are able to compete in a completely neutral market. 



How Serv Can Help You 


On the Serv service marketplace, leads or potential customers come to you. Once you have secured your leads all you have to do is convince them to choose your business over your competitors.


Serv gives small B2B businesses a platform to shine and compete with big corporations. Join Serv now for as little as R125 per month and get qualified leads straight to your inbox.



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