Got Street Smarts? Consider Bartering as a Marketing Strategy for Growth

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January 13, 2021 / 04:07 PM

Consider Bartering As A Marketing Strategy For Growth

While most trade credits are used for advertising media, it is important to note that the range of what a corporate barter company can provide is expanding to include air travel, hotel rooms, sales meetings, air freight, co-working spaces, cruise berths, car rentals, limousine service, and the like.
The pandemic has created turmoil for small and medium businesses more than it did to large businesses. The credit schemes of government did not really help many of them, as there were no growth prospects for months on end.

In addition, increased competition from the same industry as well as from substitute products created even more trouble for most. More and more firms have started to consider the use of corporate barter as a viable and valuable marketing strategy, not just as a way to solve financial problems.

“Retail” barter exchanges are trades of products and services among local small businesses and individuals, each paying the trade exchange a transaction fee. By comparison, corporate barter companies take title to the goods themselves. Transactions can involve crores of rupees of goods and services and are conducted primarily with large companies – in many cases publicly traded ones.

“While corporate barter originated as an industry in the 1950s, it really took off during the U.S. recession of the early 1970s”

 

To read full article at Money Control.com: https://www.moneycontrol.com/news/business/consider-bartering-as-a-marketing-strategy-for-growth-6341471.html