B2B Marketplace Development: Best Practices 
Tags: b2b, marketplace
Published: 2021-04-07 14:59:32

---
title: B2B Marketplace Development: Best Practices 
published: true
description: This guide is covering the key stages of B2B marketplace development and will be a good help.
tags: B2B, Marketplace
cover_image: https://dev-to-uploads.s3.amazonaws.com/uploads/articles/6msdoiqigkhqxg2zoidz.jpg
canonical_url: https://www.codica.com/blog/how-to-create-b2b-marketplace/
---

The article was initially published on [Codica Blog] (https://www.codica.com/blog/how-to-create-b2b-marketplace/).

Forrester predicts that US B2B (business-to-business) e-commerce transactions will reach $1.8 trillion by 2023. So it seems that now is a good time to create a B2B marketplace. 

Thinking about where to start? This guide covering the key stages of B2B marketplace development will be a good help.


# The definition of a B2B marketplace

In simple terms, a B2B marketplace is a website where sellers and service providers offer their products to other companies.

Such platforms are famous for the specific payment options that differ from payment gateways on B2C e-commerce websites. They include bank transfers, paper checks, and wire transfers

## Classification of B2B marketplaces
Speaking about business-to-business e-commerce websites, we cannot but mention their main types. They are as follows:

* **Vertical B2B marketplaces** - focus on a specific niche or target audience;
* **Horizontal B2B platforms** - offer a wide range of products to all kinds of companies;
* **Product-based B2B multi-vendor marketplaces** - sell physical goods. The examples are Global Source and Alibaba.
* **Service-based business-to-business websites** - provide different services from content creating to event management. The most well-known marketplaces are TopTal and Upwork.

Related reading: [How to Build a Multi-Vendor Marketplace Like Amazon] (https://www.codica.com/blog/how-to-build-multi-vendor-marketplace-website-like-amazon/)

# How to build a B2B marketplace in 5 smart steps

##1. Identify your prospective buyers
For B2B clients, the customer journey is long and complicated. A lot of people are engaged in decision-making. You should consider the needs, opinions, and job functions of all of them.

Besides, B2B companies are concerned about the welfare of their business. It means that they will make a purchase only if there is a strong need for your solution. Hence, your task is to find the best possible way to address their pain points with your product.

##2. Come up with an uncanny value proposition
With a compelling, catching value proposition, you increase your chances to stand out from the competitors.

Wonder what qualities make a well-executed value proposition? Basically, it should be clear, specific, and unique.

##3. Take care of the UX
Below you can see several UX design principles you should adhere to when designing a B2B marketplace: 

* Avoid vibrant colors. Replace them with subtle shades. This way, you will make your B2B e-commerce website more professional.
* Allow users to check whether the product is available and move to a quick checkout.
* Do not forget to set automatic recurring purchases. Thus, your clients will be able to save their precious time.
* Make sure that the sign-up process is plain and simple.
* Upload demos, whitepapers, and social proofs to ensure trust in your B2B marketplace.
* Create well-defined categories for all your products so that the customers could find them easily.

The product categories on Grainger, a B2B website offering industrial supplies, look the following way:

![Alt Text](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/pd1aooonfuzxqqov6jmz.jpg)

## 4. Choose the functionality wisely
As for the basic functionality of your B2B marketplace, the following features should be implemented in the first place:

* The sign up page; 
* Company/ customer profile;
* Product catalog;
* Advanced search and filters;
* A convenient reordering and replenishing system;
* Reviews and rating;
* he product comparison page;
* Analytical dashboard;
* Multiple payment options;
* Various shipping and delivery methods.

## 5. Find the most suitable development approach
There are two development approaches you should consider. These are ready-made products and custom software development. 

Let’s discuss both of these options briefly so that you could make the right decision for your business:

**Out-of-the-box solutions**

The main advantages of off-the-shelf products include:
* Affordable price;
* Out-of-the-box solutions are ready to install;
* Regular updates;
* Customer support included in the price.

However, remember that you may lack some important functionality or get extra features you will not need.

**Custom software development**

Let’s take a quick look at the core benefits of the bespoke software:

* You can make sure that all your specific business needs and requirements are covered;
* All your sensitive data will be secured;
* All hidden risks will be taken into account;
* You will not have to pay for unnecessary functionality;
* New functionality can be added easily.

# Conclusion
B2B marketplaces are on the rise now. Statista expects global B2B sales to reach $1.2 trillion by 2021. Given that, more and more entrepreneurs invest in building business-to-business e-commerce platforms.

However, the B2B marketplace domain is more complicated if we compare it with customer-oriented e-commerce platforms. Here you need to understand your target audience and the specifics of the customer journey to succeed.

If you are looking for a reliable software partner to help you launch a business-to-business e-commerce platform, feel free to contact us. We will eagerly deliver a scalable and fast-loading B2B marketplace for you on time and budget.

For more information about building a business-to-business marketplace, check our full article: [Online B2B Marketplace Development: Step-by-Step Guide] (https://www.codica.com/blog/how-to-create-b2b-marketplace/).