Bartering For Business
In today’s economy we need every advantage to bring in those new customers and we need to be purposed in our methods to keep them coming back. At Loyal2U we highly recommend using social media and email marketing to keep customers coming back, but how can we guarantee a steady flow of new business? What would give you the edge to get that customer in the first place? How could you make them so happy that they could not help but to tell all of their friends about you? When every dollar is measured out how can you convince them to take a chance on you?
Bartering may be the answer that you are looking for. If you are a small business with cash flow problems you may be able to network with other small businesses willing to trade you for products and services.
When you stop and think about it every new lead costs you something. Every form of advertising has a price. If we spend $2000 on an advertising campaign we often can’t even tell if it worked. Tradeshows, Yellow Pages, newspapers, Google adds… all of these are an expense. Do you know how much that new customer cost you to acquire? Most companies are spending $200 per new client to get them in the door. When we offer to barter we are guaranteeing their future business with us and it only cost us our time or our wholesale costs on a product. This is where the rubber meets the road in conversion to real business. It is the perfect real world example of LinkedIn for networking that produces real clients that offer value and who pay for it.
If you are offering a service and you barter with someone who has something that you need it cost you your time. If you are already too busy maybe that has no value to you, but if you are not completely booked up you just earned a new client that loves you. You made a compelling offer that nobody else did and the next time they need your service they are coming to you! When they have a friend looking for your service they are recommending you!
If you are offering a product you can trade it at full value. Years ago I met a senior lady who had funded her whole retirement on this concept. She handled a variety of products from about 6 different multi-level companies. She bought them at wholesale and then traded them for retail on services that she needed. She was getting her hair done for 30% off, and her cleaning and gardening was 50% off.
Bartering broadens your market appeal and it stimulates new business. You were not going to be doing business with that company and you did not even know them, but suddenly you are doing business with them. You are an advocate for them and they are now an advocate for you.
The level of customer service is also increased. They would not dare do a poor job and neither would you. Both are locked into a sweet deal delivering the best and expecting the best. Care and attention is now given to details. You are personally involved. You do a great job and you receive a great job. As their new advocate you will have nothing but great things to say about them and they feel the same way about you.
Bartering stimulates the economy both directly and indirectly. It becomes the business underground economy (not to be confused with the black market economy). In current economic situations it creates a different and more healthy type of social welfare net to sustain your business in hard times.
It is totally legal and there are tax advantages as you can now claim your costs instead of your profits, or you can claim services “in kind.” Having a good accountant who understands the concept of bartering can save you thousands of dollars annually in taxes.
So what do you have to offer? Who needs your products and services? Can you make a compelling bartering presentation?
Who would you approach to make an equitable deal? That would depend on your needs both personally and for your business. What is it that you have been thinking about doing or buying that there just never seems to be quite enough profitability to attain? What do you need to make your life better? What services are you presently paying for? What products would you like to try to solve an issue in your life?
At Loyal2U we believe in bartering. We offer unique social media, email marketing and internet strategies that produce measurable results (unlike traditional advertising.) We could be your greatest advocate as we love to promote those who do business with us. We may be willing to barter with you if you offer a service or a product that we have need of. We may agree to a partial payment or full payment arrangement with you depending on your compelling offering. We may be interested in barters and trades within the Calgary area or even beyond.
Since this is our blog I will tell you just a few products and services that we would love to barter for and what we would offer you in return.
Our packages for small businesses start at $100 but the best deals are in the $300 range. For that we set up your email accounts, gather new leads for you, recommend your services and repost your ongoing emails on Facebook, Twitter, and LinkedIn. We communicate with your customers for you as though we are you, so that you can be more free to be “on” your business instead of “in” your business. We can write your articles, your blogs, and your books. We can take your pictures for special events or your marketing campaigns and make you look beautiful and professional. We can put your videos on You-tube, or even create motivating sales material and train your staff. Our relationship with you will equip you to use social media more practically in less time and eliminate your anxiety over the subject. That is just some of what we have to offer.
Larger companies hire us for complete email marketing and social media representation often for $20 000 – $50 000 and up annually. For an example of what that kind of a program would entail see our article “Social Media Strategies For Large B2B Organizations.” Yes, we may even be willing to barter with large companies. Make us an offer we can’t refuse!
What we have need of personally are manicures, house cleaning, chiropractor services, weight loss programs, carpentry, clothing, jewellery and new vehicles. As we have larger clients that sometimes take months and tons of money to woo we could also use flowers, wine, chocolate, travel packages, and more.
What do you have?