The Crucial Features of Online Marketplace that Matter

If you own a marketplace on the internet, it is not a cakewalk to maintain it consistently without implementing rational business strategies. You need to continually evolve your policies to keep pace with the ever-changing online scenario.

Segmenting customer profiles

You need to have robust segmentation policies regarding designating various categories to the clients. You should be able to classify multiple customers in the Online Marketplace. It will result in setting prices of different commodities, services, and related features in your platform. You should also streamline things like promotions of products, shipping features, and payment options on your website. Try to segment your B2B customers based on –

  • Their geographical locations
  • Their order volume
  • The catalog selection
  • The frequency of reordering
  • The number of products they order

You should also aim to customize their shopping carts based on behavioral patterns.

Customer-specific pricing

Besides personalizing the shopping experience, you must also focus on implementing the pricing policies of your products. It is a common feature of even the Largest B2B Marketplace. The core of the business is to set different prices for various versions of a specific product. After that, you need to target multiple clusters of customers based on a particular price tag. You also need to build a customer-specific intensive catalog of products.

Providing bulk discounts

In the case of a marketplace on the internet, B2B customers usually buy products in large volumes. You need to create different discount tiers for such customers to encourage buying. You should also have strategies to accommodate specific quantity thresholds. Setting up discount tiers specific to different customer clusters is essential in this regard.

Restricting access

For a B2B platform, you would like to make it an exclusive zone for your consumers and clients. You must make special provisions for registered clients to let only them to access your platform features. Try to make a website with advanced built-in functionality to restrict access. You should be able to block the access of any unregistered user on your website

Setting a minimum order quantity

It is a vital feature of your website. Your market platform must have a feature that permits a shopper to buy products only when he is willing to order a specific, minimum quantity. If the buyer places an order below that quantity, then the website should reject that order. It is a usual trait of any decent wholesaling website. You may also integrate a feature that sets a maximum order quantity.

Flexible modes of payment

It is arguably among the top three most critical features of your business website. You should place concrete payment options on your platform. Your clients should not counter any technical glitch while paying or receiving payment for an order. You should integrate credit card payments, debit card payments, net banking options, checks, etc. on your website. Flexibility in payment will make your platform more popular among your clients.

Relentlessly focus on customers

It is not easy to consistently maintain the quality of an online market platform. If you have a dream to build an extensive B2B marketplace, then you should relentlessly focus on improving its customer-centric features.

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