Many Bartercard members are shining examples of how the network’s alternate payment of Trade Dollars can be utilised to benefit their business and lifestyle. Maximising cash flow, retaining customers, and keeping stock moving are all important elements of any business, so using Trade Dollars to buy and sell goods and services can offer a wealth of advantages for business owners.
Are you familiar with Trade Dollars and how they work? Continue reading to learn how Bartercard can help you grow your business.
1. Treat Trade Dollars as an addition to cash-paying business
By operating as an addition to cash business, Bartercard gives members complete control over which products and services they sell through the network by accepting an additional payment method, members can move slow or idle stock, or reduce downtime in slow moving periods.
When you add Bartercard to your business, you are essentially accepting additional customers to utilise your goods and services with Trade Dollars, which can help create new business, customer loyalty, and increased profits.
2. Use Trade Dollars to move inventory and fill occupancy as business fluctuates
Convert downtime and spare capacity into new revenue by moving inventory and equipment through the Bartercard network.
Businesses can also sell slow-moving stock without the need to heavily discount their prices. Members receive Trade Dollars as payment, which they can then spend on other goods and services within the Bartercard community, which helps conserve cash.
3. Reward staff with Trade Dollars
Retaining talented and hard-working staff members can be difficult and many businesses struggle to find ways to reward exceptional staff without increasing wages or salaries. That’s why many members use Trade Dollars as employee bonuses, incentive schemes, or gifts to boost retention. For example, by using Trade Dollars, a business could gift a staff member a reward such as a dinner out, a night away, or a retail voucher.
4. Take advantage of the referral network
Bartercard has a large referral network that allows members to extend their customer base and geographic reach. This can then translate into additional cash business. New customers generated by Trade Dollars are in addition to existing cash business, so they don’t interfere with current business.
Through referrals and word-of-mouth marketing, Bartercard members have an advantage over their competitors.
5. Manage cash flow and make use of interest-free credit
Trade Dollars work like a credit card or bank account, using alternate payment instead of cash so you can continue to make purchases even when cash flow has slowed. Trade Dollars are transacted electronically via our website and mobile device, making payments seamless.
Bartercard can expand your business to new customer markets, improve cash flow, reduce business expenses and clear idle and excess stock without having to offer discounts.
Make Trade Dollars work for you
Find out more about how Bartercard can work for your business by contacting Bartercard today!