by Sally Fink
The OPN Platform is a global packaging marketplace designed to connect buyers, suppliers, and vendors quickly.
You know how it goes. You took the plunge to start your own business and now you’re facing the prospect of finding customers and entering an already established market. The good news is thanks to industry 4.0, the rise of digital marketplaces has given smaller producers and manufacturers the opportunity to compete against large manufacturers, on a global scale.
Here’s how digital marketplaces give indie packaging companies the upper hand.
Discover a market for niche products
Digital B2B marketplaces are not too far off from their B2C counterparts. You can create detailed product pages for your items complete with specifications and descriptions. This allows buyers to “window shop” and give your products proper attention before they make a buying decision. This is a huge boost for small businesses unable to attend trade fairs or those with humble marketing budgets. Digital marketplaces essentially market your product for you to a large audience and simplify the procurement and payment process to drive sales. So while recycled paper bottles might not be in demand in your specific geographic area, a digital marketplace allows you to cast a wider net and find the buyers looking for them right now.
It equals the playing field
For small businesses, the idea of their products competing against larger, established enterprises may seem like an impossible task. Traditionally, buyers and procurement departments would have pre-existing relationships with suppliers and preferred vendors. In a digital marketplace, you’re no longer competing against existing relationships, but rather on price, quality, availability and service delivery. With the current supply chain disruptions caused by COVID-19, companies are looking to diversify their supply chains in order to survive. A digital marketplace gives you the opportunity to present your offer fairly, and on equal footing with your competitors.
It opens up international doors
Digital marketplaces experience a lot of traffic – notably existing global buyers with intent. According to McKinsey, one of the biggest benefits a digital marketplace offers small businesses is the ability to scale. Not only are small suppliers exposed to a huge international market of willing buyers, they suddenly have insight into international market structures and pricing standards, as well as customer and market analytics. Thye can also access lower shipping costs allowing them to expand their scope to new, global markets they wouldn’t have been able to access before without a middleman.
Digital marketplaces are on the rise and have the potential to make a lasting economic impact, especially for small businesses. Indie suppliers are able to find a market and increase demand for their products on the global stage. In these times of worldwide disruption, digital marketplaces offer a way for small business to continue to operate and find new buyers for their products when orders begin to slow down.
Perhaps now is the time that we all should migrate to the cloud.
The OPN Platform is a global packaging marketplace designed to connect buyers, suppliers, and vendors quickly. Access new markets, conduct deals online and forge relationships with new contacts across the globe.
Try the basic plan free here.
Sally Fink works as content writer for Open Packaging Network.
