When sizing up buyers, remember that these companies are likely to be competitors, yet they will have to work together to create aggregated orders. Also take into consideration where the buyers in the industry are when it comes to e-procurement. Their level of sophistication in this area will have a big impact on their ability to successfully participate in the e-marketplace. Consider, too, how committed the buyers are to using this channel. You want an e-marketplace that will become the de facto standard, not one that will sit alongside existing channels.
Brand awareness is key, too.
This will be especially challenging now that the economy has softened, and e-marketplaces will be less inclined to spend big money on advertising. A company that is getting ready to join an e-marketplace also must check out the suppliers and determine how committed they are. It is important to determine whether suppliers will be willing to move forward with the initiative before the benefits of cost savings and larger markets materialize. Sometimes competitive pressure forces companies to join early. If there are dominant players in the industry, they should be part of the e-marketplace.