12 Profitable Barter Strategies for the New Year!
12 Profitable Barter Strategies for the New Year!
1. Increase Marketshare: When accepting barter business, not only do you increase sales, but you take the sale away from your competitors.
2. Reduce Overhead Costs: Using incremental barter sales to offset daily operating expenses can reduce overhead costs, i.e. janitorial service, water or coffee service, vehicle maintenance, signage, etc.
3. Collect Slow Receivables: Offer barter as a method of payment for buyers who are collection problems. Barter can also be a great alternative for buyers whose purchasing power is limited because of their credit standing.
4. Penetrate Lost Accounts: By accepting other goods as payment and filtering them through the network, you can penetrate elusive accounts.
5. Generate Referrals: More barter business typically means more people talk about your business and refer new potential cash customers, whom you otherwise would not find.
6. Reduce the Cost of Borrowing: Rather than paying cash interest on working capital or capital expenditure loans, establish a credit line from IBE Barter against future products sales – the interest is all on trade.
7. Enhance Employee Benefits: Secure employee loyalty and productivity by bartering for medical services, vehicle repair, uniforms, travel and other employee incentives.
8. Utilize Excess Capacity: As fixed costs remain the same during good times and slow times, utilize excess capacity to pay for operating expenses that are normally paid for in cash.
9. Convert Excess Inventory: List slow moving goods with IBE Barter and earn trade dollars that can be used for today’s operating expenses
10. Expand Your Advertising: Bartering your advertising will bring in new cash customers and you’ll be more visible as your competitors conserve their cash budgets.
11. Revamp your Printed Materials: Start off the New Year by revamping your company’s printed materials. Offset cash costs of printing, graphic design and commercial photography with barter.
12. Budget and Implementation: Lay out a barter budget and implement the plan throughout the year. If you budget for it, you can make it all happen!
