It’s a challenging time for businesses. The uncertainty of lockdowns, restrictions and the ever-changing rules around COVID-19 make it difficult for even the most astute business owner to stay ahead, or even keep their doors open.
More and more business owners are getting back to the basics – improving cash flow while saving cash. They’re turning to digital currencies such as Bartercard as a great way to improve their cash flow, while keeping that all-important cash expenditure low, especially during these challenging times.
Many are even managing to grow their business using digital currencies which is a mighty achievement.
So, what makes digital currency such a great tool to use in difficult times?
Digital currency helps attract new customers
Think about how you currently bring new customers into your business. You might hire additional salespeople, spend money on advertising, discount your products and services or offer crazy incentives. Every single one of these costs you money and none are guaranteed to increase your business enough to cover that cost. It’s an expensive exercise – spending money to make money – even more so in these difficult economic times.
By accepting an alternative method of payment, such as Bartercard’s trade dollars you open your business up to a whole new market. Customers, such as Bartercard members who have digital currency can only spend it with businesses who accept it. If that’s you, then those customers will beat a path to your door (bypassing your competitors) to spend exclusively with you.
With an online community of business members, numbering in the tens of thousands, both locally and globally, Bartercard guarantees to increase your customers by at least ten per cent. These are customers who are also happy to pay full price for your products or services. No discounts, sales or incentives are needed.
You decide how much trade business you want and when. It’s the perfect way to fill those empty chairs or to book appointments in your slow periods. You can also use Bartercard’s online marketplace to clear your excess stock – at full price!
That’s extra business on top of your existing cash customers and an extra boost in income your business could use when times are tough.
And… if you treat your Bartercard customers well, they will bring refer cash customers to you, helping increase your cash flow even more.
Digital currency helps offset your business and lifestyle expenses
When you use a digital currency such as trade dollars through Bartercard, you keep valuable cash in your business… and every bit of cash helps, especially in the current uncertain economy.
As for where you can spend your trade dollars, the list continues to grow every day. You can offset your business expenses by using your trade dollars to pay for computer equipment, website development, marketing, accounting, printing, car servicing, painting, gardening and more. Some business members are even able to source products on trade which they then on-sell for cash!
When times are tough, your lifestyle often suffers, but with Bartercard, it doesn’t have to. You can still have those little luxuries that you need now more than ever to get you through. Use your trade dollars to stock up your cellar, take family and friends to dinner, buy beautiful gifts for special occasions, or brighten up your home with new furnishings.
When restrictions are lifted, you can enjoy holidays to a multitude of wonderful destinations, all paid for through the trade dollars you’ve earned in your business.
Digital currency help build your business network
It pays to continue building your business network, especially in times like these. The Bartercard online community is made up of business owners who support one another. They would rather spend their trade dollars than cash, so would rather shop with a Bartercard member than your cash competitor. It just makes better business sense.
Bartercard members also refer cash business your way. They want you to do well, so they can keep using your services or buying your products. It’s a win-win for everyone. You will find members turning to each other in difficult times to share their experiences, seek out advice and offer ideas for getting through the storm. All members benefit when everyone is successful.
Discover how to grow your business, even in challenging times by embracing digital currency. Bartercard is here to help. Watch this short video to find out more.