{"id":447,"date":"2020-05-08T01:54:00","date_gmt":"2020-05-08T01:54:00","guid":{"rendered":"https:\/\/www.ellect.biz\/?p=447"},"modified":"2021-01-14T02:59:01","modified_gmt":"2021-01-14T02:59:01","slug":"top-benefits-of-having-an-online-marketplace-for-your-business","status":"publish","type":"post","link":"https:\/\/www.ellect.biz\/top-benefits-of-having-an-online-marketplace-for-your-business\/","title":{"rendered":"Top Benefits Of Having An Online Marketplace For Your Business"},"content":{"rendered":"\n[et_pb_section fb_built=”1″ _builder_version=”4.7.7″ custom_padding=”10px||10px||true|false”][et_pb_row _builder_version=”4.7.7″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.7.7″ link_text_color=”#440099″ header_5_text_color=”#440099″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ sticky_enabled=”0″]

Online marketplace<\/a>\u00a0<\/span>allows businesses to sell, market, promote and showcase their products and services with the help of a trusted\u00a0digital marketplace<\/a>. Business owners can leverage the\u00a0marketplace for businesses<\/a>\u00a0<\/span>to connect with corporate and government buyers without setting up their own online store\u2014provides a flexible business opportunity\u00a0with relatively low start-up costs.<\/p>\n

The relevance of marketplaces is\u00a0indispensable given with the steady rise in eCommerce sales by the year,\u00a0with the total value rising from $1.34 trillion in 2014 to $2.84 trillion in 2018. This is expected to reach $4.88 trillion in 2021.\u00a0In 2020 alone we can expect a $4.13T sales, according to the\u00a099firms<\/a>.<\/p>\n

Considering the marketplace growth, its relevance is something that entrepreneurs should be diving into; here are the benefits of the online marketplace you must know before you take the plunge.<\/p>\n

Provides Additional Channel to Market<\/strong><\/h5>\n

Having a digital marketplace allows you to have an additional channel to market and sell your products and\/or services. The marketplace allows you to grow your connection without doing the heavy lifting. Your business will be promoted to your service provider\u2019s network and social audience, which gives you an edge to reach a higher number of crowds.<\/p>\n

Increase Efficiency\u00a0<\/strong><\/h5>\n

The digital marketplace is a platform that offers reduced marketing costs as they will promote you to their network just like how\u00a0Ellect<\/a>\u00a0<\/span>promotes its verified suppliers, given that you will provide ample information for them to help you market. On top of this, your customers can also compare prices and services from a single\u00a0source,\u00a0optimising efficiency while securing a sale.<\/p>\n

Higher Revenue and Conversion\u00a0<\/strong><\/h5>\n

Being part of an established online marketplace provides a level of trust between you and the buyer which provides more opportunities for your business.\u00a0You will also be exposed to corporate and government buyers, which will offer opportunities to establish new trading partnerships with other businesses, either within or outside these buyers\u2014resulting in increased sales.<\/p>\n

Guaranteed Online Visibility<\/strong><\/h5>\n

With today\u2019s fast-paced industry if you are not online then you are not existing. With a digital marketplace, you\u2019ll be able to show up on your target market\u2019s online search provided by the add-on promotion of your marketplace. This provides you greater transparency when it comes to your products and\/or services as well as\u00a0accessibility to a wider audience.<\/p>\n

Value Proposition<\/strong><\/h5>\n

When you are part of a digital marketplace their reputation will automatically reflect on your products and\/or services, giving an impartial review that may give new customers the confidence to buy and trust your services. Digital marketplace offers you an edge that this doesn\u2019t require any initial investment just like how a physical store works, you can choose to showcase the products and\/or services that you still have now.<\/p>\n

Proven and Scalable Business Model<\/strong><\/h5>\n

An online marketplace offers lesser financial risks compare to other eCommerce stores as you don\u2019t have to invest in other things other than choosing the right digital marketplace where you can get the service. On top of this, they are also top-notch in providing you the possibility to operate around-the-clock time constraints and varying international trading hours are removed.<\/p>\n

Digital marketplace is a great value addition to your business and a great way to improvise how you sell your products and\/or services. Customers and potential partners now seek convenience and safety on how they purchase, and that\u2019s what an online marketplace can deliver.<\/p>\n[\/et_pb_text][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjI5MyJ9fQ==@” button_text=”Back” button_alignment=”right” _builder_version=”4.7.7″ _dynamic_attributes=”button_url” _module_preset=”default” custom_button=”on” button_text_size=”1.1em” button_text_color=”#ffffff” button_bg_color=”#440099″ button_border_color=”#440099″ button_border_radius=”25px” button_icon=”%%179%%” button_on_hover=”off” custom_padding=”6px|41px|6px|26px|true|false” button_bg_color__hover_enabled=”on|hover” button_bg_color__hover=”” button_bg_enable_color__hover=”off” button_text_color__hover_enabled=”on|hover” button_text_color__hover=”#440099″ button_icon_color__hover_enabled=”on|desktop” button_icon_color__hover=”#440099″][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"

Online marketplace\u00a0allows businesses to sell, market, promote and showcase their products and services with the help of a trusted\u00a0digital marketplace. Business owners can leverage the\u00a0marketplace for businesses\u00a0to connect with corporate and government buyers without setting up their own online store\u2014provides a flexible business opportunity\u00a0with relatively low start-up costs. The relevance of marketplaces is\u00a0indispensable given with […]<\/p>\n","protected":false},"author":1,"featured_media":469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

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