One of the primary objectives of a barter exchange is to help your business increase sales. By joining a barter exchange, it enables you to reach out to a new customer base you otherwise would not have had the opportunity to market your products or services too. Just imagine being able to market your products and services to a private network with hundreds of businesses.
Members of a barter exchange are motivated to buy from you, and will generally turn to barter first before thinking of spending their cash. Bartering through a barter exchange is a great resource to generate incremental sales on top of your cash business. It’s like you getting extra business you otherwise would not have gotten.
Below are some common tactics in which a barter exchange can help promote your business:
Get promoted via the barter exchange’s e-newsletter. Let your Trade Broker know what you’d like promoted and they’ll send out an e-newsletter on your behalf to the entire barter network.
Provide a testimonial or get your business profiled in a video. The more times a barter member sees you, the more confident they’ll become in doing business with you.
3) Social media
With the popularity of social media, get your barter exchange to promote you on their social media feeds such as Facebook, Twitter and LinkedIN. Provide your Trade Broker with content or information that you’d like promoted.
4) Trade Brokering service
The best way to get promoted is through your Trade Broker. Let your Trade Broker know that you are seeking new business, and your Trade Broker will get in touch with barter members interested in your product or service.
5) Tradeshow exhibition
Be sure to provide your local barter exchange with your marketing materials (i.e. brochures, business cards) so that they can display your information on their display table.
6) Networking events
If there is an opportunity to exhibit with your local barter exchange at their networking event, take advantage of it! Display your marketing materials and network with the barter members in attendance. Don’t forget to bring lots of business cards for networking.
7) Member directory
It’s important to ensure that your information is up-to-date in the online or printed member directory so that other barter members can find you when they’re ready to make a purchase.
Sales through a barter exchange is a function of a number of key factors. First, if your product or service is in high demand, you are almost guaranteed sales. Second, you can better your odds of increasing sales if you work with your barter exchange and Trade Broker by participating and providing them with information to promote. Third, it’s important to have an open line of communication with your Trade Broker. The more your Trade Broker knows about you and your business, the easier it is for your Trade Broker to promote you! Last, by building relationships and providing great service to members of a barter exchange, you can find new cash referrals through word of mouth. If a barter member is happy with their buying experience, they’re likely to tell their non-bartering friends about you which will lead to new cash sales.