In a recent survey conducted by one of the top Business to Business portals, was able to find that there was 140% increase on international traders seeking the help of B2B portals for their business needs. The sudden increase in demand of premium memberships has in fact, spurred the portal to learn more about the phenomenon.
The major reason cited for this sudden demand in B2B premium memberships is the global economic deceleration. In the latter half of 2007, leading B2Bs attracted exporters and by early 2008, these portals were able to witness an unprecedented demand for premium membership even from the importers, transporters, brokers and international service providers.
Most of the premium members were of the opinion that they joined with an intention of bringing down the expenses incurred in the process of gaining international reach through trade shows and other expensive advertising tools. Although, initially their interest was in cost cutting, but today they feel B2Bs are the right comprehensive business tools in any distant trade. The interactive nature of these portals has enabled international businesses to expedite their business processes. Besides, the traders were able to channel their energy towards potential business deals with fewer work forces.
Usually when the companies participate in trade shows, they have to be present with a huge contingent to make an impact in these shows. And most of the members in the team are not hired from outside, and they being away from their establishments, in fact have lowered productivity of these companies. Especially, small and medium businesses have been largely affected by unsuccessful attempts made through trade shows. Such bitter experiences of traders in recent times, to a certain extent have helped B2Bs to get more exposure in the world of business.
B2B portals have done a marvelous job for international businesses by not only bringing down cost of their marketing but also in quick delivery of positive results. B2Bs have succeeded in delivering as well as convincing an international trader about the business opportunities. After more than a decade of B2Bs’ existence, they are proving to be the most effective and efficient business tool of modern times. Initially they acted as database of businesses around the world, and now evolved as an ultimate interactive tool in the world of business. B2Bs have once again become an incredible concept even in times of global economic mess. They are evolving to provide services beyond business to business, some portals have even started offering spaces for expanding a trader’s business to other overseas locations.
The most interesting finding of the survey was– many traders, who used the portals’ premium services, ran their international businesses single handedly without seeking any help from ones’ employees. A back ground check on premium members who participated in the survey revealed, a surprising fact, close to 5 percent of them carried out their businesses alone or as ‘one man’ business entities.
Thus, B2Bs have empowered small businesses to excel in international business arena without investing large sum of money to derive manifold returns. Though there were few members who could not do business through B2Bs in the survey, yet, they showed optimism in doing business through these portals in due course. Barring few members, majority of them in the survey opined, there will not be any international business in the world which would not seek the services of a B2B portal in the near future.