As the digital world continues to evolve, so too do the ways in which businesses operate. B2B eCommerce sales reached $1.63 trillion in 2021, an increase of 50% from 2019. This was caused by the growth of B2B online marketplaces, which increased by 130% in 2020 alone, or 7x faster than B2B eCommerce as a whole.Professional consumers are growing more at ease with digital solutions. In order to stay ahead of the curve and remain competitive, it’s important for businesses to embrace new technologies and trends. One such marketplace platform that has been gaining a lot of traction in recent years is Mirakl Marketplace.
So, what exactly is a Mirakl marketplace platform? And what are the best practices for enterprise success when using one? Let’s try to manage the breakdown needed to get started with the marketplace platform Mirakl.
What is Mirakl Marketplace?
Mirakl Marketplace is a SaaS platform that enables businesses to create their own online marketplace. This marketplace platform sources partners drop shippers and third-party drop shippers to bring distribution channels online and automate wholesale, manufacturing, and retail operations by providing the infrastructure and tools necessary to create a marketplace, including a user interface, payment processing, and order management, and more.
With the help of the Mirakl platform, any product volume suggested by merchants located anywhere around the globe may be easily integrated. It also helps to connect to your own system and your eCommerce ecosystem with cutting-edge technology based on APIs. Additionally, Mirakl quickly handles and integrates catalogs, client and seller communications, and rule implementation to automate complicated activities.
How Does Mirakl Marketplace Work?
Businesses can sign up for an account and then create their marketplace. They can add products and services, set prices, and start accepting orders. Mirakl Marketplace takes care of all the back-end tasks, such as processing payments and managing orders. This allows businesses to focus on selling their products and services.
Mirakl offers a number of features that help businesses to sell with zero hassles. Here are some of the functionality that Mirakl Marketplace gives B2B distributors:
Categorization AI: Mirakl uses artificial intelligence (AI) to classify products into distinct categories and subcategories. It uses an AI-powered categorization system known as Mirakl Categorization, which allows you to categorize your products and get more exposure. The system learns from consumer behavior data, which includes purchase records, search queries, and social media interactions.
Unified dropship and marketplace operations: Mirakl handles drop shipping for multiple brands in one online store. This means that any product offered for sale by Mirakl can be purchased through its marketplace and delivered directly to customers’ homes or offices. It also provides an integrated fulfillment service for all products sold through its marketplace.
Streamlined B2B selling: One of Mirakl’s key features is unified B2B selling functionality — which allows companies to sell directly to other businesses without having to create their own branded storefronts or stores on third-party marketplaces like eBay or Amazon.
Alerts and dashboards: Mirakl Marketplace notifies sellers when an order is placed and when an order has been fulfilled. Sellers can use these alerts to keep tabs on their product launches, or as a gauge of their overall performance. Sellers also have access to dashboards that show them the number of orders they receive each day and how many items were purchased from them in total.
Fulfillment capabilities: The platform can handle multiple fulfillment models including drop-shipping and direct delivery from your own inventory. You also have full control over all aspects of your fulfillment process including POs, tracking numbers, and shipping methods.
What are the Benefits of Using Mirakl Marketplace?
If you are running a B2B eCommerce business, then it is essential for you to have a store that caters to your target audience. This is why Mirakl marketplace offers you an opportunity to create your own online store without spending any money.
When it comes to enterprise marketplace success, there is no one-size-fits-all solution. However, Mirakl has emerged as a leading platform for businesses looking to create or expand their marketplace offerings.
There are many benefits of using Mirakl as your Marketplace platform.
- Mirakl provides a robust and scalable platform that can support businesses of all sizes. Whether you’re just getting started with your marketplace or you’re looking to expand your existing operation, Mirakl can provide the tools and resources you need to succeed.
- It is a cost-effective way to create an online marketplace. Businesses only pay a percentage of their sales, so there are no upfront costs or monthly fees. Additionally, businesses have full control over their marketplace. They can decide what products and services to sell, set their own prices, and manage their own orders.
- It helps your customers search for products by price, supplier, brand, and category. Quantity can be specified as well. Once you have found the product that you are interested in, simply click on the “Buy Now” button and it will take you to the checkout page where you can complete your purchase.
- Businesses may enhance conversion with Mirakl’s payment partners by utilizing unified invoicing, credit limits, numerous credit cards, and payment conditions. Additionally, teams may use the platform to handle large amounts of product data from various sources and guarantee accuracy and consistency across channels.
- Another key advantage of Mirakl is its flexibility. The platform can be customized to meet the specific needs of your business, which means you can tailor your marketplace offering to perfectly match your unique value proposition.
- It gives your customers real-time updates. Once they complete the payment process, Mirakl will send them an SMS notification with a link to click on in order to confirm the purchase.
How It Helps B2B Distributors
As a B2B distributor, you know that eCommerce is becoming increasingly important for your business. You also know that setting up and maintaining an eCommerce site can be a lot of work. That’s where Mirakl comes in. Mirakl is a marketplace platform that makes it easy to set up and operate an eCommerce site. It takes care of all the back-end work, so you can focus on running your business.
In the upcoming years, wholesalers in the industrial supply sector will face new hurdles. COVID-19 amplified the already-changing consumer expectations, while digital disruptors and new external pressures changed the whole value chain. The distributors that rise to the challenge, adopt strategies to expand their scope and sophistication, and stay up with manufacturers, clients, and rivals, will prosper in the years to come.
To succeed in the industry supply markets, it is crucial for industry supply leaders to analyze their business and find a solution that helps their business to beat the competition. Here are the three reasons that explain why every B2B firm needs a marketplace like Mirakl that solely caters to B2B customers:
- A well-designed marketplace delivers customer-specific catalog selections, prices, delivery schedules, and more. In order to create a new layer of “consistency,” distributors are taking advantage of this opportunity and using their marketplaces as an eBranch for straightforward transactions. This offers the dual advantages of allowing consumers to buy “anywhere, anytime” and freeing up the salesforce to concentrate on high-value, consultative sales.
- With Mirakl, you can quickly and easily list your products on a marketplace site. You’ll also have access to a wide range of features, including order management, payments, shipping, and more.
- Best of all, Mirakl is designed specifically for B2B businesses. That means it’s easy to use and integrates seamlessly with your existing systems.
A Quick Look At Mirakl Integration Possibilities
Enterprise marketplaces are a new and innovative way for businesses to sell their products and services online. However, setting up and running a successful enterprise marketplace is not always easy. There are many different factors that need to be taken into account, such as integrating with existing enterprise applications, choosing the right platform, and attracting buyers.
Mirakl is a suitable option for companies turning their operations into marketplaces. It can interface (seamlessly integrates with ERP, WMS, 3PL, POS, and eCommerce apps) with current commerce apps rather than needing them to invest in a completely new commerce and technology stack. A seamless one-stop shop is created that enables Enterprises to establish relationships and the marketplace rules of engagement, approve the products they will sell and how they are presented, and monitor and manage seller quality and performance. The back-end platform syncs with your front-end commerce platform to onboard and integrates third-party sellers and their catalogs.
With the help of a middleware solution, it would be easy to build a bi-directional data sync between Mirakl and other third-party platforms. And DCKAP Integrator can help you achieve this with zero hassles and increased efficiency.
Want to know why DCKAP Integrator is a better option to connect Mirakl marketplace with your third-party technology solution providers. Read our success story:
C.W. Hayden, industrial and marine products wanted their products to be available to customers at many touchpoints since their business mostly dealt with industrial and maritime equipment. As a result, they decided to promote and sell their products on 3M Marketplace.
C.W. Hayden Co. got in touch with DCKAP Integrator to integrate their P21 Cloud System with the Mirakl marketplace because they use P21 ERP for their backend processing and streamlining. This allowed them to sell more quickly and smartly because they have all the data they require in one location that is always up to date and ready to use.
By doing so, C.W.Hayden reduced bottlenecks in the order-to-cash workstream, reduced time delays in the fulfillment, delivery, and invoicing process, and eliminated the manual work done on the Mirakl system which otherwise takes hours of tedious and time-consuming work. (Read the full case study here)
Quickly Integrate your Mirakl Marketplace Using DCKAP Integrator
Looking to take your B2B eCommerce business to the next level? Meet Mirakl Marketplace – the leading platform for businesses to find, connect and sell products and services online. With Mirakl Marketplace, you can quickly and easily set up an online store that’s tailored to your specific business needs, giving your customers a convenient way to shop for all the products and services they need in one place. So what are you waiting for? Get in touch with DCKAP to know how Mirakl marketplace & its integration possibilities can bring difference in your business!