Same Old Tactics, Same Old Results... Try Something New - Modern Barter

Can Bartering Help Your Business?

 Direct Swap Barter Transactions

 My introduction to direct swap bartering was pretty straight forward.  I would bet that if you have done any bartering that your experience was much the same.  Back in the early 90’s, I owned a license to produce a poster sized business map of communities done in cartoon style.  The first map I did was of Carrollton.  I would sell ad space on the map and we would do a cartoonish rendition of local businesses.  It was really quite fun and cool.    

 I found a restaurant that wanted to be on the map, and of course I wanted to sell them a spot.  The manager suggested that we do a ‘swap.’ He would provide me $350 worth of his gift cards in exchange for me putting them on the map.  I jumped at it.  It was a good restaurant that I could see eating at about once a month to use the gift cards, and more importantly, I got a sale!

 This was a simple and straight forward barter transaction.  The values matched, the time for performance was reasonable, and we each were satisfied with what we were receiving in the trade.  We documented the transaction.  These four criteria also represent the 4 perils of direct swap barter transactions.  They often don’t work out so smoothly.  In fact, nearly everyone I talk to about bartering has a nightmare story to tell about how they got the short end of the stick in a deal.

 Modern Barter Alleviates the Perils of Direct Swap Barter

 Modern Barter transactions happen through what are usually called Barter or Trade Exchange organizations.  There is no direct swapping so the value mismatch peril is eliminated.  Also, the have and wants not matching is also avoided. 

 Think of it this way. A Modern Barter Exchange, such as ITEX, provides a marketplace where there is a centralized virtual currency used instead of cash.  When you want something available in the marketplace, the organization debits your account and credits the seller’s account.  Just like in a bank transaction.

 At ITEX it’s even easier as we have several ways to consummate a transaction.  The most recent and most popular is our mobile App.

 A Barter Exchange is like a bank and chamber of commerce rolled into one.  We connect buyers to sellers and sellers to buyers.  In essence we broker transactions.  There is a nominal fee of 6% per transaction side.  Quite affordable verses many forms of marketing and especially against the cost of a sales representative.

 So, Will It Work for You?

 A key question to answer is, on a scale of 1-10 with 10 meaning you have all the business you can handle and 1 meaning you don’t know where your next piece of revenue will come from, where do you fall? 

 If you are a 1-3, we recommend that you continue a focus on generating more cash paying business.  At a later time Modern Barter may be a fit.  If you are an 8-10, first, congratulations.  Unless this is a seasonal high for you, we may not be a fit as you may not have the capacity to handle our referrals at a high level.

 Now, if you are a 4-7, Modern Barter may be a perfect fit to help you generate more revenue, save cash, and make additional cash profits.  The application and benefits are individualized to each business. 

 If you would like to see how this would work for your company, just give us a call for a brief meeting.  In less than 15 minutes you and I will be able to determine if there is a fit. 

 Jeff Weaver

ITEX in N Texas, Franchisee

214-222-4389