How Do B2B Service Marketplaces Work? We Answer Your Biggest FAQs

Updated on 14 September 2020

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One of the easiest and effective ways to boost your online presence is by listing your business in an online B2B Service Marketplace. But what exactly are online marketplaces, how do they work and how can they benefit your business?

To help answer some of the biggest questions about these platforms – we look at what the newest marketplace dedicated to SMEs, Serv, has to offer.

Launched by SME South Africa, the platform addresses some of the biggest challenges South African SMEs face, namely generating sales and revenue and marketing online by helping them to expand their digital presence as well as gain qualified B2B leads.

SEE ALSO: SME South Africa Launches Online B2B Service Marketplace for SMEs

Here’s everything you need to know about marketplaces. 

Q: What is a B2B Service Marketplace?

B2B Service Marketplace is an online marketplace where businesses can sell goods and services to other businesses. Ultimately they work to connect buyers and suppliers.

Q: How does it benefit your business?

The benefits of a B2B Service Marketplace listing are:

– List your company and connect with decision-makers looking for B2B services, reach new customers and markets.

– A B2B marketplace enables you to generate more qualified B2B leads and improve sales.

– Posting your website URL to a B2B Service Marketplace can help to increase traffic to your website.

– A B2B Service Marketplace is one of the most effective ways to collect proven client reviews.

 FIND OUT MORE: Serv – Connecting B2B service providers with businesses seeking professional services. Sign up HERE 

Q: How does lead generation on online marketplaces work?

Different B2B Service Marketplaces differ in their offerings however many follow the following lead matching process.

Step 1: Sign up your business as a SME service provider on an online marketplace and get access to a lead matching program.

Step 2: Leads looking for SME service providers submit their project requirements through an online lead form.

Step 3: The marketplace platform assesses the project requirements and creates a shortlist of qualifying service providers that may match the project.

Step 4: If the listed SME service provider is interested and willing to carry out the service, they will accept the lead, make a payment, and connect with a potential client.

Q: Which industries are best suited to list in an online marketplace?

Some of the most popular categories for SME service provider categories include:

– Accounting services
– Marketing
– IT Services
– HR Personnel
– Web development and design
– Business services
– Business registration
– Printing & prototyping
– Tax services
– Legal services
– Business finance

 FIND OUT MORE: Serv – Connecting B2B service providers with businesses seeking professional services. Sign up HERE 

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