I came across an intersting site when doing an online search for the definition of 'Barter' in response to a recent request I had. You can check it out here: http://www.barterco.com/v4/aboutbarter.cfm
Sometimes the easiest way to pay for something is to offer your services in exchange. In the world of construction this could apply to a one supplier who does concrete work exchanging the service with a drywaller for new drywall for a project they are doing at home.
The real question though is how to determine the face value of something. Do you balloon the value in a quote or offer it as you would in a normal quote? My preference is to offer it at face value as you would with a normal quote, the worst thing that could happen is your partner in the exchange finds out you set your prices higher and they do not finish the work you each agreed upon.
In today's economic environment bartering may be a great way for you to tape into advertising and the marketing of your business. A client we have dealt with for several years for a service we use at the head office recently asked me if he could offer us a credit on our account in exchange for some ads to run for a new product. After speaking with the team we agreed to do it, we have a long standing relationship and the service does offer a return on something we us on a regular basis.
Now does bartering work for everyone and is everything open to a trade like this?
Sometimes the easiest way to pay for something is to offer your services in exchange. In the world of construction this could apply to a one supplier who does concrete work exchanging the service with a drywaller for new drywall for a project they are doing at home.
The real question though is how to determine the face value of something. Do you balloon the value in a quote or offer it as you would in a normal quote? My preference is to offer it at face value as you would with a normal quote, the worst thing that could happen is your partner in the exchange finds out you set your prices higher and they do not finish the work you each agreed upon.
In today's economic environment bartering may be a great way for you to tape into advertising and the marketing of your business. A client we have dealt with for several years for a service we use at the head office recently asked me if he could offer us a credit on our account in exchange for some ads to run for a new product. After speaking with the team we agreed to do it, we have a long standing relationship and the service does offer a return on something we us on a regular basis.
Now does bartering work for everyone and is everything open to a trade like this?
Answer is as long as both parties see value then yes, however as soon as one party feels they are not getting something they need the prospect of the deal falling through become a reality.
Personally when dealing with long standing relationships for a barter proposition I tend to offer more advertising or marketing value in return for the products or services. This ensures both parties see the value and continue the relationship.
Have you dealt recently with a situation where a client or customer offered to barter their construction services or office products with you? Share your experiences with me at chasemarketing@sympatico.ca
Personally when dealing with long standing relationships for a barter proposition I tend to offer more advertising or marketing value in return for the products or services. This ensures both parties see the value and continue the relationship.
Have you dealt recently with a situation where a client or customer offered to barter their construction services or office products with you? Share your experiences with me at chasemarketing@sympatico.ca
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