So, you want to know what the barter system is, how it works and how you can benefit from it? Well, you’ve certainly come to the right place! Online Presence Manager is a firm believer and current user of the barter system. Continue reading our article below to learn everything you need to know about the barter system.
What is the barter system?
The barter system is one of the oldest ways of transferring goods and/or services without involving cash. Although we do not use bartering much nowadays, many years ago this was the only way to exchange goods and services. Also known as trading, bartering can be of great use to many people worldwide – even right here in the USA. With the evolution of the internet, we have now brought the bartering system into the digital age and online. Bringing the barter system online not only makes bartering a lot easier, it opens up more options than ever. You can barter for almost anything you can imagine online!
Online Bartering Options
From basic bartering of general goods and services to sites offering home-swaps and even babysitters, you can literally find any type of bartering site imaginable.
Craigslist is one of the original online bartering sites but social networks such as Facebook are now joining the online bartering sites. On Facebook, you can find groups geared specifically towards bartering or even use their new marketplace to find others who are interested in bartering. Since everyone is now attached to their phones, you may even find users looking to barter on new mobile apps like OfferUp, Recycler, or LetGo.
In addition to bartering on Craigslist and Facebook, businesses can also find business specific sites for B2B (business to business) bartering. One of our favorite bartering sites for businesses is Florida Barter. Since we are a Florida based company, Florida Barter makes it very easy for us to trade our services for other services and goods in the local area. There are currently over 1,800 businesses in just the Orlando and Tampa Bay area who are members of Florida Barter.
If you cannot find a company who you are looking to barter with on a bartering website, you could always use the cold call tactic. You would first find a company to barter with then begin collecting some useful information such as names of owners or decision makers, phone numbers, emails, services they offer, etc. You want to make sure that you can connect on a personal level instead of approaching the business with a sales pitch. You also want to understand exactly what they offer and know exactly what you can/will offer in return. Set yourself apart, make the offer worthwhile and you will receive great results. Don’t get discouraged if you don’t receive a response. It may take multiple times of contacting a company or companies to even receive a response. You may even have to visit the business in person as opposed to using email or phone calls. Stay persistent and you will obtain exactly what you want.
How can the barter system help my business?
If you’re a small business like us, this is an excellent way to expand your client base and assist in filling up your days up when your workload is slow. Maybe your business cash flow is low and you need assistance without using money. There are a ton of ways to take advantage of online bartering systems.
For example, say you run a cleaning company and are in need of additional clients. You could join a site like Florida Barter and offer your cleaning services in exchange for the promotion of your cleaning business. There would be no exchange of money, just services. Keep your outbound cash flow to the minimum while obtaining additional clients. It’s a win-win!
Online bartering can be beneficial as most online bartering sites also offer more detail on who you are bartering with. This can include direct contact information and reviews, which can be extremely helpful when choosing who you wish to barter with so that you may maximize your efforts.
How to begin bartering?
The first thing you want to do before you jump into online bartering is to make a list of what you can or will offer. Make a list of every good or service you want to offer along with an approximate value.
For example – if you’re a graphic designer, you could make a list of services including but not limited to; social media graphics, website graphics, logo design, or custom design work. You could even bundle your offer to include multiple services to increase the value of what you have to offer.
The next thing you’re going to want to do is create a list of what you want to barter for and who you want to barter with. Think of this preparation as somewhat of a business plan. Your offer needs to match the interests of those who you wish to barter with.
Once you have a solid plan together, begin your ‘attack’ and do not give up! There will be times where you do not receive a response or receive a simple no, but continue on. Once again, persistence is key!
Need help with bartering?
As always, if you have any questions or concerns about bartering, you can contact Online Presence Manager to help you build a plan and get you started. We have a substantial understanding of how bartering and the barter system works and would love to help! In addition to helping you get started with bartering, we can get you a $100 Barter Dollar bonus on Florida Barter for becoming a barter member! If you’re a small to mid-size business in the Orlando or Tampa Bay area, give us a call @ 833-732-3278 and let us help you improve your business today!