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Marketplace Buying Groups

Improving your Marketplace with custom Features & Benefits for Buying Groups
So, You Want to Expand Your Marketplace?

Essential Buying Group Benefits, Capabilities, & Considerations

As you begin to consider the needed functions and features to grow your marketplace, buying groups can be a very lucrative solution to look into. Essentially, a buying group is a set group of people (whether definied by a role, organizaiton, etc.) that receive some sort of benefit by purchasing goods with a vendor in your marketplace.

Generally these benefits come in the form of discounts to the item price, services, or even shipping. Below we will go into a brief overview of some of the unqiue applications of buying groups as we begin our Buying Group eCommerce Resource Guide.

Fundamental Building Blocks

What are the Buying Group Basics You Need?

There are a lot of considerations that you will want to keep in mind when you are looking to implement a buying group system within your marketplace. Buying groups can work in a number of ways, but first how will you segment the marketplace userbase? Will you create unique roles for specific vendors who have high reviews? Or possibly an organization as a whole has purchased a membership tier that provides all accounts associated to them to benefit from that role? You need to determine whether or not to enable certain features and benefits to allow your business to grow efficiently.

  • How are you going to decide how to identify unique buying groups?
  • Are you going to have groups specific to vendors, buyers, or possibly an entire organization?
  • Can users easily identify the ways they can participate in a buying group?
  • When a user engages within a buying group, is there a verification process?

These steps are crucial into starting to expand the capabilities of your marketplace. With an idea of where to begin, and how to take those first few steps we can begin thinking about the additional features and benefits you should consider.

Improving Your Conversion Rates and End-User Satisfaction

Increasing Profit Margin with & User Engagement

Now you have the basic understand of buying groups and some ways they can improve your marketplace, do you have the ability to intelligently interact with your users as you bring them to your marketplace? Are you providing them with the information about the benefits and features of joining a buying group or starting one for their organization? Consider buyer behaviors as they search for products: were things on sale, were the desired items within their price range, and other consumer desires.

How are you marketing your marketplace features to users? Do they know about buying groups or tiered memberships? Are they incentivized to want to follow the process in order to gain access to those features and benefits? This list goes on and on. With so many different components to consider, it might seem like there is no way to achieve them all, but a good marketplace platform will have the right functionality and features to help you scale your business to the next level.

Countless Possible Configurations

Let's Dive Into More Advanced Pieces

With the numerous needs of your business, buyers, and sellers, there are more advanced pieces that you can consider:

  • Are you able to restrict access to specific product listings based on user roles?
  • What about intelligently displaying a unique catalog, wish lists, & more features based on the buying group?
  • Are the associated users able to collaborate on group purchases within their organization?
  • Can your users easily identify how to engage within and join a buying group?

Organizations may have their own specific pricing and information that is available on to them, which you will need to be able to display intelligently. The level of detail that you're thinking about when you're initially planning out your marketplace user buying groups is important because you're able to think about your 5 to 10-year plan. Then you can ensure that whatever architecture and infrastructure you put in place up front can grow and scale with your business.

Your Personal Tour Guide

We Can Help Guide You Through Your Project

We'd love to help you with the planning of your buying group needs are to see what key values your market segment is looking for. These guides and links below are a resource for you so that you can fully immerse yourself in the potential capabilities within the buying group functions and features. With these tools you will have the knowledge to make a judicious set of phase based decisions on what you're going to incorporate into each phase. Ideally, give yourself something that's achievable, but also put yourself in a position of strength relative to your competitors.

We appreciate you looking into our buying group section of our site and would love to help you navigate this topic. If you'd like to reach out to us, please feel free to click here and we’ll be happy to coordinate a review with you. Alternatively, you're welcome to download these resources or click the links below to navigate through the buying group area. We look forward to talking with you soon or later down the road as your project progresses.

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