Businesses often struggle with finding cashflow to reinvest in the growth of their business. As a result, marketing efforts often fall to the bottom of the priorities list. Bartercard members can resolve this situation by using Bartercard within the Exchange network on expenses relating to marketing activities.
Trade opportunities relating to marketing available through Bartercard members include:
• Advertising in magazines, newspapers, radio
• Website design and management
• Signage: billboard, taxi, truck and mobile billboards, to mention a few of many
• Creative services, including design and placement
• Merchandising, including branded uniforms
As the economy tightens up, one of the first areas many busineses look to save money on is their advertising spend. However this is a double edged sword as it can also reduce the number of customers coming through the door. One of the best places you can spend trade is on attracting new cash paying customers to your business.
There are a couple of different ways you can increase your advertising spend while competitors are reducing theirs:
The first is to spend Trade pounds directly on advertising, in the Bartercard directory, the advertising section has pages of different options for your business.
Why not spend some Trade pounds on an incentive or prize to attract cash paying customers. You could offer customers a prize draw for a mystery weekend away that you pay for with Trade pounds .
This trading tip is about spending Trade to make your business more attractive to cash paying customers. By doing so you can increase your market share without spending cash.
Bartercard is committed to helping Small to Medium Sized Enterprises (SMEs) grow and achieve financial success by facilitating a trade exchange network that offers dynamic and effective ways of conducting business.
Friday 26 November 2010
Use Bartercard to: Build business networks
As Bartercard is a membership based network, all Members have an obligation to encourage other businesses to participate. A large network with a variety of businesses selling products and services is beneficial to all Members. To grow the Bartercard network, Bartercard organize a variety of monthly networking functions. These functions provide a forum where Bartercard Members are able to network with each other and build invaluable business relationships. A large amount of cash referral business may be generated through having good Bartercard business contacts.
Necessary tools
• Business cards/promotional flyers to hand out at functions
• Social skills
Strategies
Ascertain from your Bartercard Trade Co-ordinator (Account Manager) the dates of all possible networking functions and diaries
Ask a business associate to attend a function with you
Attend the monthly functions; while there, collect business cards and build business relationships
Offer to co-ordinate a business function at your premises or sponsor an event to deliver your brand’s message
Maintain a proactive deal-making mindset by focusing on what can be done, not what can’t be done!
Thursday 18 November 2010
Win cash contracts
We find that every time a Bartercard member provides a service or product of great quality to another member, the satisfied customer is likely to recommend the business to other people they know in the cash economy. Therefore, by simply providing great service and products to Bartercard members, you’ll be in a position to gain referrals to new cash customers.
1 . Treat every Bartercard customer the same as you would a cash customer. Understand that every Bartercard customer is a business owner, staff member, family member or friend of a business owner. Therefore, every Bartercard customer has an extensive network of suppliers, customers, family and friends who, if you simply supply great customer service to, may refer your business to everyone they deal with!
2. Ask Bartercard members to refer your business.
Example pitches
“I’m not looking for any type of customer; I’m looking for customers like you? Would you be able to introduce me to any of your contacts?”
“I make no apology for the fact that referrals are an important part of my business and I was curious whether you knew of anyone that it would be good for me to get in touch with?”
“Here’s a list of businesses that we’d like to work with. Do you have any contacts at these Companies?” You’re one of the strongest advocates we have, are you able to recommend us to anyone?”
1 . Treat every Bartercard customer the same as you would a cash customer. Understand that every Bartercard customer is a business owner, staff member, family member or friend of a business owner. Therefore, every Bartercard customer has an extensive network of suppliers, customers, family and friends who, if you simply supply great customer service to, may refer your business to everyone they deal with!
2. Ask Bartercard members to refer your business.
Example pitches
“I’m not looking for any type of customer; I’m looking for customers like you? Would you be able to introduce me to any of your contacts?”
“I make no apology for the fact that referrals are an important part of my business and I was curious whether you knew of anyone that it would be good for me to get in touch with?”
“Here’s a list of businesses that we’d like to work with. Do you have any contacts at these Companies?” You’re one of the strongest advocates we have, are you able to recommend us to anyone?”
Thursday 11 November 2010
Expand your product line
Bartercard members have the option to purchase product from other Bartercard suppliers at wholesale or retail rates, thus adding new stock to their product line which they can on-sell in the cash and/or trade economy. This option opens a realm of possibilities for Bartercard members as they are no longer restricted to selling just their product but are able to sell other unrelated products.
Strategies
1. With the assistance of your Trade Co-ordinator (Account Manager) or Franchisee, source a Bartercard wholesale supplier who is able to supply a new product in bulk to your business either via the Bartercard Auction site, eMARKETplace or Online Directory.
2. Be assertive, approach new suppliers. If they are not Bartercard members suggest to
them if they were to accept Bartercard as payment, you would do business with them! In this instance, complete a Trade Purchase Request or Referral Form and forward to your local Bartercard Sales Consultant who will approach the business owner on your behalf with your purchase requests. (This referral system encourages business owners to join Bartercard and commence trading with you straight away).
3. Stay in regular contact with your local Bartercard Sales Consultant.
4. Advertise your new product either as a value added benefit (see the business solution
‘Use Bartercard to … purchase value added benefits to entice customers’) or simply a
new product to add to your range.
Case Study
A hair salon owner sells product through their salon.
A hair salon owner had accrued approximately £5,000 in Trade Pounds and wanted to trial selling product through their salon.
The hair salon owner was stocking shampoos and conditioners from a cash supplier; however, she wanted to expand her product lines to offer different items, other than hair care products. She was able to source body butter and bath bombs on Trade, which they incorporated in a creative, colourful window display to attract new customers.
The hair salon successfully expanded their product line with additional products purchased on
Bartercard.
Strategies
1. With the assistance of your Trade Co-ordinator (Account Manager) or Franchisee, source a Bartercard wholesale supplier who is able to supply a new product in bulk to your business either via the Bartercard Auction site, eMARKETplace or Online Directory.
2. Be assertive, approach new suppliers. If they are not Bartercard members suggest to
them if they were to accept Bartercard as payment, you would do business with them! In this instance, complete a Trade Purchase Request or Referral Form and forward to your local Bartercard Sales Consultant who will approach the business owner on your behalf with your purchase requests. (This referral system encourages business owners to join Bartercard and commence trading with you straight away).
3. Stay in regular contact with your local Bartercard Sales Consultant.
4. Advertise your new product either as a value added benefit (see the business solution
‘Use Bartercard to … purchase value added benefits to entice customers’) or simply a
new product to add to your range.
Case Study
A hair salon owner sells product through their salon.
A hair salon owner had accrued approximately £5,000 in Trade Pounds and wanted to trial selling product through their salon.
The hair salon owner was stocking shampoos and conditioners from a cash supplier; however, she wanted to expand her product lines to offer different items, other than hair care products. She was able to source body butter and bath bombs on Trade, which they incorporated in a creative, colourful window display to attract new customers.
The hair salon successfully expanded their product line with additional products purchased on
Bartercard.
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