How to Boost Profitability with Digital Marketplace Capabilities

Diversify revenue streams, reduce inventory risk, and win loyalty with a digital marketplace.

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Financial services organizations have a large customer base, institutional trust, and rich data. A marketplace model is a great way to leverage these resources to grow revenue and help customers find success. For example, if a customer takes out a new auto loan, marketplace capabilities could uncover personalized insurance offers along with other aftermarket product opportunities, like maintenance and theft deterrents.

Consumer goods (CG) leaders report that implementing a marketplace is a top priority in 2022. From food and beverage to household products, customers expect assortment and variety when they shop for consumer goods. Marketplace technology makes it easy to collect first-party data so brands can deliver on this expectation with personalized recommendations, intuitive storefront search, product filters, and more.

Retailers see digital marketplaces as a way to keep up with rising consumer expectations. Shoppers demand a wide selection of in-stock products at competitive prices. On top of that, they want fast shipping. The bar is high, and marketplace capabilities help retailers deliver on these expectations and drive loyalty.

Manufacturers can also significantly benefit from marketplaces. By creating localized supply networks, marketplaces enable manufacturers to respond quickly and efficiently to increasing demand. With valuable commerce tools, access to new customers, and actionable insights made possible with marketplaces, manufacturers are also able to reduce channel conflict across distributors and suppliers. This helps ease the burden that manufacturers often feel as a main piece of the supply chain puzzle.

As more healthcare organizations focus on opening digital front doors to increase patient satisfaction, marketplaces offer a unique opportunity. The consumerization of healthcare has changed how consumers and business buyers shop for everything from healthcare services to insurance to medical devices. Marketplaces can provide consumer-like experiences that make it easier to price shop, compare insurance plans, and more.

Win loyalty with deeper customer insights.
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Almost three quarters (73%) of customers expect companies to understand their unique needs and expectations.

88%

PRIORITIZE COLLECTING FIRST-PARTY DATA

30%

SAY FIRST-PARTY DATA IS THEIR TOP PRIORITY

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A whopping 94% of shoppers say that a positive customer service experience makes them more likely to purchase again.

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A full 72% of companies that built a B2B marketplace experienced market-share growth. B2C marketplaces are also realizing major profits.

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One third of B2B sellers report that launching their own marketplace is a priority over the next two years.

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