Mehul Kagalwala, Director of Global Business Development at TEXUB talks about how the company’s focus on seamless user experience powered by technology and data analytics, has helped the B2B marketplace to build trust and credibility among the users which is driving the growth for TEXUB.
What factors have contributed to the success of TEXUB?
TEXUB’s success can be attributed to several key factors. Firstly, our timing was impeccable; we launched at a time when the IT and Mobility industry was undergoing significant growth and transformation. This created a strong demand for our platform that connects business to business digitally.
Secondly, our ecosystem is diverse and extensive, accommodating businesses of all sizes. This inclusivity ensures that our platform remains relevant and accessible to a wide range of users.
Thirdly, we invest in advanced technology, this technological edge sets us apart from competition.
Fourthly, our customer-centric approach is fundamental. We prioritize customer satisfaction by providing personalized support, transparent communication channels, and effective dispute resolution mechanisms. Listening to user feedback helps us continually improve our platform.
Moreover, trust and security are paramount in our marketplace. We’ve implemented stringent security measures to protect user data and transactions, complying with industry standards and earning the trust of our users.
What strategies did you employ to attract and retain a large user base in your marketplace?
At TEXUB, our success in attracting and retaining a large user base in our marketplace is the result of a combination of strategic approaches:
We have a comprehensive product catalog amassed by actively onboarding verified suppliers from various regions, offering a wide range of IT and Mobility products to meet the diverse needs of our users. We focused on creating a user-friendly platform. We’ve invested in a clean and intuitive interface, making it easy for users to browse, search, and transact seamlessly.
We believe competitive pricing is a key factor in user retention. We work closely with suppliers to ensure our users get the best deals. Additionally, using the ‘Bid your price’ feature traders can quote the price range that they’re looking for and compare to find suitable quotes. Additionally, seamless logistics and shipping integration streamline the buying process, encouraging repeat business.
We pride ourselves on our exceptional customer support is vital. Machine learning algorithms provide personalized product recommendations, enhancing the user experience.
In summary, TEXUB’s success in attracting and retaining a large user base is a result of our dedication to trust, diversity, user-friendliness, competitive pricing, and comprehensive support services. We continuously adapt and innovate to meet the evolving needs of our users, ensuring a seamless and rewarding experience in the global IT marketplace.
How do you ensure a seamless user experience for buyers and sellers in your B2B marketplace?
The first step to form any habit is knowledge. For a lot of businesses that are not tech-savvy, we have taken steps to ensure that their move from offline to online is as seamless as possible. We provide valuable resources on customs regulations and compliance, helping users navigate international trade with ease.
We offer an array of video tutorials, providing users with clear guidance on navigating their dashboard, discovering the best offers, listing their products, and completing orders. Our commitment to user support extends to both artificial intelligence-driven interactions and direct human assistance, ensuring that we’re always there to promptly address their inquiries and needs.
What specific measures have you taken to build trust and credibility among users in your marketplace?
Through a robust verification process, we prioritize trust and security. To attract users, we employ a rigorous verification process for both buyers and sellers. This ensures that only legitimate businesses can participate, instilling confidence in our platform. We offer both Chat bot and human assistance that help address user inquiries and issues promptly.
How did you effectively address any challenges or obstacles that arose during the development or growth of your B2B marketplace?
When you enter the online B2B marketplace market, you must face various challenges, simultaneously you also have many opportunities to enter a niche market. We managed our challenges well and never had any issues. We were positive in our approach and aligned with the right financial projections, business forecasts and technologies.
What key features or functionalities have you implemented that set your B2B marketplace apart from competitors?
One of our key features is our presence in the 6 major selling hubs and having buyers from over 60+ countries. Through this we truly pride ourselves in being globally accessible and further giving this access to our customers helping them trade beyond borders.
Another factor that sets us apart is that unlike our competition which act as an e-commerce platform, we function as a marketplace. TEXUB is a managed marketplace with buyers and sellers from around the world joining the platform and benefitting from the anonymity to conduct trade without biases. They have equal opportunity to negotiate prices, list their products and find their requirements through our seamless processes.
AI-powered fraud detection algorithms are used to detect and prevent fraudulent transactions on the platform. Additionally, we have partnered with the market leader in cybersecurity to ensure our API security is protected. This improves the overall security of the platform and reduce the risk of financial loss for both TEXUB and its customers.
Overall, by leveraging AI in these and other ways, TEXUB improves its operations and enhance the customer experience on the platform making it stand out from the competition.
How do you maintain a fair and competitive environment for sellers while ensuring a positive buying experience for customers?
Unlike competition, TEXUB doesn’t stock and sell. Our model is based on complementing our sellers and not competing with them. We aim to give equal opportunities for both our buyers and sellers on the platform. Since we are a digital marketplace, we are able to set up processes ensuring seamless transactions. For sellers, by listing on the platform, they have an opportunity to connect with buyers from regions they would’ve otherwise had trouble reaching.
TEXUB allows channel partners to grow their businesses and improve their product offerings in previously untapped markets.
What marketing and promotional tactics have been most successful in driving traffic and attracting new users to your B2B marketplace?
In our journey to attract new users to our B2B marketplace, we’ve found that a combination of digital advertising, content marketing, and strategic partnerships has been incredibly effective. Our content marketing efforts, including informative blog posts and engaging social media content, have helped us establish authority and attract organic traffic.
We will be launching few interesting properties in the coming few weeks which we hope further boosts awareness and our content marketing strategies.
How have you leveraged technology and data analytics to optimize the performance and efficiency of your marketplace?
We’ve harnessed the power of technology and data analytics to fine-tune and supercharge the performance of our online marketplace. By using advanced analytics tools, we’ve gained deep insights into user behavior, preferences, and trends. This data-driven approach has allowed us to enhance the user experience by offering personalized product recommendations and streamlining the search process.
Moreover, technology plays a pivotal role in automating various aspects of our platform, from inventory management to order processing. This automation not only reduces manual errors but also boosts efficiency, enabling us to deliver a seamless and efficient buying and selling experience for our users.
Additionally, we’ve employed AI algorithms to optimize pricing, ensuring competitive rates for our users. This not only benefits buyers but also helps sellers remain competitive in the marketplace. Ultimately, our commitment to leveraging technology and data analytics is all about providing a smarter, more efficient, and user-centric platform for our valued customers.
How do you continuously adapt and evolve your marketplace to meet the changing needs and demands of your target market?
We are constantly talking to our traders. Taking into consideration all their feedback, we developed a new and updated UI/UX website experience. Building on their feedback and to keep up with the constant advancements in the tech space, we have added a lot more features on our portal which ensures ease of trade, listing and usage.
We are also now available on WhatsApp where our traders get the exclusive offers and deals. They can also initiate their order from the app.
