The ancient concept of bartering has been around for centuries, yet it's still very relevant today and trading your products in exchange for what you need or would otherwise have purchased in cash can be the ultimate business tactic. Not only do you attract new customers in the process, you can also increase the profitability of your business, managing stock more effectively and participating in a supportive network of other businesses. What's more, your Bartercard members can serve as the perfect opportunity to increase your cash paying clients. Who would pass up an opportunity like that for extra income?
Building a customer base
If you're a small to medium-sized business and looking to acquire new customers, bartering can be advantageous. Often, Bartercard members achieve new levels of success after successful trades turn into cash-paying business clients. Word-of-mouth referrals from within the Bartercard network can also help you broaden your existing customer base, leading to increased sales and profits.
Increasing customer retention
Barter systems, like Bartercard, can help increase customer retention by expanding your business' potential to offer rewards and loyalty schemes. As a Bartercard member, you'll gain access to the excess inventory of other businesses, generating a win-win scenario for both of you and allowing you to get creative with what you can do to hold on to your best customers and build a relationship of mutual trust and appreciation. Your fellow Bartercard members will thank you, but more importantly, so will your customers.
Improving inventory management
If you are having trouble converting older or excess inventory into revenue, Bartercard might be just what you need to clear that shelf space. Instead of liquidating excessive inventory at discounted rates, turn them into profitable stock by trading your excess products in exchange for goods and services through the Bartercard network. You don't need to devalue your product, your investment won't go obsolete, and you get to trade for something that you would have otherwise paid for in cash!
Additional source of revenue
Maintaining a healthy cash flow can sometimes be a struggle, that's where bartering can help you keep hold of that all-important cash. For new business owners, Bartercard serves as the ideal platform to trade your products and services with other members, helping you to keep a greater amount of cash in reserve for future investments and expenses. Also, exchanging unwanted assets for something valuable can safeguard cash that would otherwise be lost.
Bartercard Australia is one of the world's largest cashless business networking platforms, striving to provide business opportunities to its members. Contact Bartercard today to learn more about these opportunities.
For more information on how Bartercard can benefit your business, visit Bartercard.com.au or call 1300 BARTER.