MSME Business: Unlike large enterprises, many micro, small and medium enterprises do not have millions of dollars to invest in marketing and sales. Also does not have the luxury of established brand value in front of customers in domestic and international markets.
Unlike B2C, B2B companies sell their products/services to other companies. Therefore in the B2B industry connections and trust matters too. Traditional ways of connecting through customer care executives are time taking and costly for entrepreneurs or startup owners. B2B portals For MSMEs Provide the online platform to micro, small and medium business units to connect with each other in one place.
B2B portals like IndiaMart, TradeIndia, MSME Global Mart in India are some among many b2b platforms that are specifically helping micro, small and medium enterprises to grow their business in 2021.
Among them, MSME Global Mart is the B2B Portal launched by the National Small Industries Corporation (NSIC), An Government of India Enterprise with the aim to help MSME businesses in expanding their market reach in India and across the globe.
All these B2B Portals provide various tools and benefits to their registered MSME business units that help them to grow their business in global markets. In this article, we are going to explore five features of B2B Portals that are helping businesses in many ways:-
1) Better Online Visibility
Without any technical knowledge any micro, small or medium enterprise can create their online website in minutes. They can showcase their product or services to other business units across the web & to all the other business units of more than 1000 different categories & subcategories registered on these B2B websites. MSMEs can connect with each other and develop long-term relationships with various communities of the target markets.
2) Marketing Support
B2B Portals provide various inbuilt tools to businesses to their registered members for helping them to maintain online visibility of their website on search engines along with taking care of various online promotional activities over different online platforms like Email, Social Media, Etc. These activities help businesses to market their brand and products/services in an easy and effective way.
3) Quality Business Leads
B2B Portals provide lots of opportunities to businesses by helping them to connect with potential buyers. Apart from helping businesses in expanding their reach to global audiences, B2B Portals enable businesses to segment, target an extremely particular & niche-specific audience in one place.
4) Get Opportunities to Expand Your Business Globally
Businesses registered on the B2B Portals can offer subcontracting, franchise, and distribution opportunities to other small or medium businesses for expanding their business in different locations across the globe. Also, Grab the opportunities to start or grow their small business by doing business alliances with bigger enterprises to enhance their reach in target markets.
5) Gather Insights, Innovate, Make a difference
The role of B2B Portals is not only limited to improving the online visibility of their businesses or exceptionally working as a sales channel. But they are useful for doing research about the industry & competitors in the target market.
B2B Portals help businesses to gather insights from the stiff competition that drive benefits to customers. These insights enable businesses to innovate their products/services. Based upon various aspects of industry-specific needs like product features. Ways for effective branding strategy, optimum pricing of product/service offerings, etc.
There are many B2B Portals available in the market. Entrepreneurs or Small business owners who are just starting up with a small team should choose a trustworthy and cost effective b2b platform. B2B platforms avail the free trial facility for their first-time members with access to limited features for a limited period of time. For MSMEs where budgets are tight, teams are small, and facing many other challenges. Registering their businesses on B2B Portals can be the best option to prioritize limited staff in other important activities.