Small and medium scale enterprises have limited fiancé compared to large scale enterprises. Lack of finance and resources has always been a barrier for small businesses to enter global market. B2B portals can help to overcome this barrier. Small and medium scale business can register on various trade portals to reach global markets. They can easily buy and sell products in foreign markets through business to business portals. Traditionally you had to travel long distance to strike a deal for your business but now the trend has changed. You can easily get list of buyers, suppliers, manufacturers, importers, and exporters on various B2B portals.
Some benefits of B2B portals for SMES include feasibility, less time consuming, easily accessible, can find number of buyers and suppliers at one place. You can create a virtual organization for your business and enter every untapped potential markets easily. SMES can create more brand awareness through online marketing. Buyers and suppliers can interact with each other via inquires. They can contact each other and make business deals. You can easily compare various suppliers and strike the best deal for yourself. Suppliers can showcase their products all over the world through online trade portals.
B2B trade portals help you to create a virtual office for your business. This virtual office functions 24×7 for 365 days. People from all over the globe can view your products through trade portals. This will help to improve the sales of the business. Less manpower and finance required for virtual office. So B2B portals are an effective tool for SMES to reach global markets easily. Just marketing your products on online trade portals in not enough you have to present your products very effectively. Become a premium member on business to business portals to get more business.
Small Scale enterprises can attract global customers without spending much. Same is not possible through other marketing channels. The customer database of small scale industries is very less. They can increase their customer database through online trading portals. Buyers from all over the globe send inquiry or contact you through Business to business portals. You can use this information as database for future promotion or marketing of your products. B2b portals are like online showrooms you can display your product catalogs with description. Buyers who are interested in your products will communicate with you via these marketing portals.
In actual face to face marketing you have to explain or provide demonstration of the product to each and every customer who visits your shop or showroom. In case of online market you need not waste your time and energy. You have to just upload your products with specific description so that customers can easily understand the product features. In internet marketing whole world is single market. You can promote your business internationally at low cost through business to business portals.