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Improve customer service Ability to have constant interaction through
emarketplace allows you to serve your customers better. You can track
whole ordering process from payment to delivery and bring greater efficiency in customer service.
Efficient information sharing method When needed, you can instantly update your catalog and inform your customers about changes. Whether you are launching a new product or having a web seminar, through emarketplace you can share
information more efficiently.
Reduce supply chain cost According to eMarketer, automated supply chain process through emarketplaces can reduce your overhead costs 20% to 40%.
You may ask, if participation in an emarketplace is so beneficial, why companies are not flocking to emarketplaces.
The slower adoption can be blamed on various inadvertent factors:
- Many companies had fall short to generate significant sales from their own websites and look at emarketplaces with a dose of skepticism. But as studies show ecommerce endeavors fail, mainly, due to lack of proper planning and marketing, as many site managers take
attitude that build-it-and- they- will-come.
- Many conservative suppliers claim that their business depends on close relationship with local buyers. In reality, you can also get access to local untapped market through emarketplaces. Another aspect - you can bring efficiency to your business by co-adopting an emarketplace along with your buyers.
- Many elderly executives are not very tech-savvy and afraid of adopting new technologies considering them too complex. In reality, e-business is virtual implementation of real life business processes and not very difficult to embrace.
- Fear of price shopping by buyers is another factor, why suppliers are reluctant to use emarketplaces. The ability of emarketplace to emphasize all characteristics of
product in product content and demonstrate buyer-specific pricing should eliminate this fear.
- Many, mistakenly, consider that participation cost in emarketplace is very high and will hurt their bottom line. The expenses related to emarketplace membership are, usually, a mere fraction of what you can save from
use of its different features.
What to look in an Emarketplace?
As an online venue, where participants expect to conduct substantial part of their business processes, emarketplace has a large range of useful features:
- Product catalog based on an industry-standard classification system - Product search capability within
marketplace and e-catalog - Buyers and sellers search capabilities - Supply chain process, i.e. request for quote, quotation, purchase order, billing system, etc. - Directory of members - Shipment tracking - Simple system of adding and editing products - Simple offer posting system - Ability to promote products with special offers, sales, and discount
Apart from these, some emarketplaces boast other interesting features like auction and reverse auction, new product listing notification, business forum, XML interface, Internal messaging system. Naturally, implementation of these features may vary significantly emarketplace to emarketplace.
Where to look for Emarketplace?
The best place to find an extensive list of emarketplaces is
B2B directory site: http://www.bocat.com.
The open directory project DMOZ has a good list of emarketplaces. However, not all listings in both of these places are, in reality, emarketplaces. Some of them are simple trade boards. This list is located at http://dmoz.org/Business/E-Commerce/Marketplaces/
Yahoo! directory is not organized well enough to locate emarketplaces. They are scattered under
subcategories: Vertical marketplace builders, Trade directories and even Trade.
Forbes magazine has a quality list of many B2B companies including some emarketplaces. You will find
list at: http://www.forbes.com/bow/b2b/main.jhtml
To be continued in next issue: Selecting
right Emarketplace.

Nowshade Kabir is the founder, primary developer and present CEO of Rusbiz.com. A Ph. D. in Information Technology, he has wide experience in Business Consulting, International Trade and Web Marketing. Rusbiz is a Global B2B Emarketplace with solutions to start and run online business. You can contact him at mailto:nowshade@rusbiz.com, http://ezine.rusbiz.com, http://www.rusbiz.com