Given the current situation, Bartercard feel it is important to explain the huge benefits to your business of maximising cash flow, by buying and selling using Trade Dollars, and want to remind you of the different ways to use your Trade Dollars to maximise the benefits and grow your business. They also wish to point out the interest-free line of credit that is offered to all members which could be a real win for many businesses.
Maximising cash flow, retaining customers and keeping stock moving are important elements of all businesses. That’s where Bartercard comes in. Buying and selling using Trade Dollars offers advantages to business owners, across several key areas, treating Trade Dollars as a supplement to a cash-paying business. Bartercard gives members complete control over which products and services they sell through the network. When you add Bartercard to your business, you essentially allow other members to utilise your goods and services with Trade Dollars, which can help create new business, customer loyalty and increase profits.
You can use Trade Dollars to convert downtime (such as during the COVID-19 lockdown) and spare capacity into new revenue by utilising inventory, equipment, and employees. Businesses also have the ability to sell excess stock or slow-moving inventory, without the need to discount heavily. Members receive Trade Dollars as payment, which they can then spend on other goods and services within the Bartercard community.
Again, keeping good staff members during this time is very important, so use your Trade Dollars as employee bonuses, incentive schemes or gifts. Similarly, through referrals and word-of-mouth marketing, members have an advantage over their competitors, as every time a Trade Dollar member spends, it will come back to them in the form of new business from another member’s business.
As we are all experiencing reduced cash flow during the COVID-19 lockdown, use your
Trade Dollars like a credit card or bank account, using electronic currency instead of cash so you can continue to make purchases even when cash flow has slowed. Trade Dollars can be transacted via EFTPOS, online over the phone, using an app like the Bartercard App, or by transaction vouchers.
Bartercard can open up your business to new customer markets, improve cash flow, reduce business expenses and clear idle and excess stock without having to discount. It’s easy to use and acts no differently to a normal bank account or line of credit.
You can find out more about how Bartercard can work for your business by downloading their free eBook, ‘How to Use Bartercard to Grow Your Business’, and for more information on Bartercard business benefits, Bartercard mobile apps, increasing customer retention and Bartercard marketplace please go to www.bartercard.co.nz .