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11 Essential Best Practices from Leading Enterprise Marketplaces
The definitive guide to enterprise marketplace success, as told by the leading organizations that embody them
Introduction
Enterprise marketplaces are the largest and fastest-growing drivers of eCommerce growth. In 2020, online marketplaces represented 62% of all online sales, which totaled $2.67 trillion globally, and grew at twice the rate of overall eCommerce during some of the most remarkable quarters of online sales growth ever.
While the success of the enterprise marketplace model was initially proven in retail, for the past couple of years this acceleration has broadened to encompass all industries, whether they serve consumer or business buyers. 75% of B2B enterprises now report that they’re developing enterprise marketplace strategies of their own, and according to Gartner, at least 70% of enterprise marketplaces launched will serve B2B transactions by 2023.
Enterprise marketplaces are by now essential for any organization seeking to meet its customers’ needs. To do it successfully, enterprises must accept that launching a marketplace is the beginning of a new way of doing business. Marketplace operators leave behind the traditional pipeline model, in which they buy, make, hire, store, and ship to meet buyers’ needs, and turn to the platform model, where they have an ecosystem of sellers and partners to deliver more choice and value to buyers – fast.
This new way of doing business requires a new set of best practices for success. Mirakl has codified the expertise of more than 300 leading enterprise marketplaces, operating in 40+ countries, across industries in retail, wholesale, manufacturing, and procurement – all powered by Mirakl and run by Platform Pioneers who recognized the power of the enterprise marketplace model.
In this eBook, you’ll discover the 11 essential best practices every organization needs to build a successful, rapidly scaling enterprise marketplace business, each supported with case studies, examples, and insights from leading Platform Pioneers across industries. The best practices fall into three categories:
-Strategic vision to ensure that your marketplace will launch successfully and achieve the continued growth that defines the world’s most successful marketplaces
-Key operational decisions that determine how your buyers experience your enterprise marketplace, and ultimately whether they’ll come back for more
-Enablers and change management, which are dedicated to fostering, monitoring, and responding to marketplace success by creating the right conditions for growth
These best practices, as told by the leading enterprise marketplace operators across the globe, form the foundation of success in this new, innovative way of doing business.
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