Monetize in an online B2B Marketplace can be done in multiple ways. This can help in leading the generation of revenue by the business owner.
With the B2B Marketplace model, the business owner can have a huge structure to acquire revenue. So, if you are establishing a business it is compulsory to fetch revenue to make it stable.
However, the store owner must keep in mind that if the scale and liquidity of a marketplace. This, in turn, increases the strategies of monetization.
The most basic and important way of generation of revenue for admin is via their product sale. The admin can showcase their product in the marketplace along with the other sellers.
Thus, on the sale of each product the admin directly gets the price for the product or service sale. This is customer revenue generation technique where admin gets money directly from the customers.
The next major strategy is Commission which can help in acquiring revenue from the seller. Here, the seller pays a particular part of the complete sale to the admin.
However, this technique is one of the most recognized ways for the business owner. Hence, followed by a few of the renowned organizations like- Uber, eBay, Etsy, and many others.
The commission in a business model can be implemented in various ways. The admin can calculate the commission here on the bases of various entities like- categories, products, different kind of sellers.
Thus, allowing the variation in the commission charged for each condition.
- Global Commission- The marketplace owner can acquire monitory benefit via charging the seller for the showcase of the products. The store owner can set this commission on Global bases or on individual bases.
In the case of global commission, all the seller will pay the commission as per global commission rate set by the admin. However, the individual rate will be as per each seller in the marketplace.
Here, the commission calculation will take place as per Fixed Rate or Percentage Rate on the product price.
Thus, the commission will be the amount which the admin will receive on the sales of the product.
- Category based commission- To Advance the commission acquiring technique the store owner can apply the commission as per the category. Here, in this case, the commission can be as per the fixed or percentage.
So, the store owner can acquire the revenue with the help of the commission charged, Which will be deducted from the complete cost of the sold product.
This is a most recurring form revenue generation wherein the store owner can charge the seller as per membership. Here the seller can be charged as per the service one takes.
Likewise – Seller needs to pay the admin a set fee to enable each of the products under his account. The calculation of this fee as fixed or on the percentage basis.
This structure can help a lot in the creation of an effective B2B marketplace. The store owner will assign an expiration time for the sellers. After the completion of the time limit, the seller will again pay for the subscription fee.
For this Webkul’s subscription model, can help a lot to resolve the issue. Here, like the customer, sellers can also be given multiple Plan to choose from. Thus, the seller can now pay for the selected plan.
In a B2B marketplace structure, the store owner can even charge for the number of products being listed. So, another way to monetize is to apply a fee on the product being showcased by the sellers.
Wherein, this fee is for the listing of the product for a specific time span and quantity of product. With this method, the store owner can generate maximum profit.
Another method popular in today’s era is an advertisement, where the seller purchases a particular part of the complete website.
Wherein the seller can easily showcase their product. This providing the store owner with the power of monetary benefit.
Webkul offer Modules for Adversitment management to allow the store owner to host the seller product advertisement. Here, the admin can charge different charges for different page sections.
These advertisements will help the seller get many eyes catching experiences. For which the store owner will charge. That is, if the advertisement is homepage then it will be more costly as it gets noticed much easily.
One of the major strategies nowadays is Affiliate Marketing wherein the product in a marketplace will influence the sales of other marketplaces.
That is, for example- if the products are being sold on Amazon then with the affiliate program it can be introduced in your B2B marketplace website. Thus, helping the generation of sales on both platforms.
However, here royalty plays a vital role wherein, your sales of one store can help in the generation of the other.
That’s all for ‘How To Monetize In an online B2B Marketplace?’, still have any issue feel free to add a ticket and let us know your views to make the module better https://webkul.uvdesk.com