We all know and recognize that CASH is king; but I’ve been wanting to put together a series of posts with the sole focus of PUTTING MORE CASH IN YOUR POCKET, via creative trading through a trade exchange like the Bartercard Network.
The majority of tips that will be featured in this series will work whether you are a member of Bartercard or not… But what ‘trade exchange members’ will find here, are ways you can easily spend and get real value from your “trade dollars” – in a way designed to: Generate more CASH customers | Increase your customers average CASH spend | Multiply your customers purchasing frequency… and allow you to spend your trade dollars in creative, tax deductible ways.
A real frustration faced by a great deal of business owners, especially businesses who must quote prior to order, is getting customers to say, “Yes, I will take up your offer TODAY”. In a world which offers consumers an over abundance of choices you need to put together an offer which will motivate the prospect to make an instant decision and purchase today.
If your prospect does not place the order, walks out of the store, and basically doesn’t take action immediately chances are they never will. That’s why you have to present an offer that gets the attention of your prospects and encourages them to immediate action.
One powerful way to get customers to purchase today is by adding ‘value’ to your offer. A ‘value add’ is an addition to your basic offer, which is perceived to have enough extra value it motivates them to take immediate action. All pretty obvious, right ?
The most commonly used ‘value add’ is a FREE BONUS GIFT.
Free Gifts by themselves however are not enough to get your prospects motivated to take action TODAY. For a Free Gift to be an effective ‘bonus’ they must be combined with 2 other elements:
1. Limited Time
2. Perceived Value
Looking at the first element ‘Limited Time'; means making the free gift only valid for a specific time period. Your ‘Value Add’ must have a deadline if you are going effectively motivate your prospects to take action.
For example, ONLY offer the free gift to clients who order at time of quotation, or book at time of inquiry etc. By adding a deadline, it will motivate your prospect, as it’s their only opportunity to get the ‘Valued Gift’.
Speaking of ‘Valued Gift’, whatever it is you are giving away free, as a limited time bonus to motivate immediate response, it must be of great value to your prospects. You can easily create the importance of the gift by simply stating its value: For TODAY ONLY: If you take up this offer and place your order TODAY you will receive a XXXXX valued at $79.95 FREE.
So lets look at how BARTERCARD CAN GET YOUR CUSTOMERS TO ORDER TODAY.
You’ve guessed it, you can use your trade dollars (or interest free line of credit) to purchase the gift you will be using as your ‘value add’, which will motivate your fencing sitting prospects to do business with you…. and don’t forget; due to your ‘cost of trade’ you’ll be picking these up at a fraction of your typical cash cost.
Here are some examples:
- A Restaurant could offer a free bottle of wine to any customer who pre-books their next meal at the restaurant, at time of their current meal.
- A Gardener could offer a free window clean to any customer who takes up his quote on the day of issue.
- A Concreter could offer a voucher for a Hi-Pressure Clean for use 6month after the original job, if they book within 10 days.
- A Furniture Shop could offer a free carpet clean for people who place an order during a specific promotional period.
By using Bartercard to purchase those ‘Free Gifts’ to use as ‘Value Adds’, you will be able to if and only if, you are prepared to commit to using this idea in your business starting today.