A craft barter exchange can be used in some creative ways to the benefit of all parties involved, but is often overlooked – here are some ideas for you, and ways in which you, your customers and your suppliers can benefit from these trades.
Craft Barter Exchange To Pay For Services Or Products
When I started my business I didn’t have a big budget for advertising, but it was obviously necessary, so I would seek out other small businesses where I could make contact directly with the owner to discuss the option of paying for advertising not in cash or on credit, but with products of mine to the value of the service.
For example, we have a local A5 booklet dropped in our mail boxes once monthly which is purely advertising – the first half is devoted to home improvement services, and the second half to other local products and services, which I noticed also included advertising for craft and handmade items. I picked up the phone and contacted the company who prints and distributes the booklet, and was pleasantly surprised to find that it was all run by one woman, so we started chatting… I ended up with a full color half page ad which was very successful, and which ended up costing me less than half the full price!
You see, the beauty of barter exchanging your products for services is that you’re trading them at their retail value, but that’s not what they’re costing you to make them!
Craft barter exchanges can be used to pay for many different services which can either help boost your business, such as advertising, or services/products which are just necessary, such as getting business cards printed.
Whether you have the budget for these things or not, always try to negotiate a barter exchange wherever you possibly can – you will save a lot in the long run, which can then be put towards more advertising or promotional activities.
Craft Barter Exchange To Boost Sales
Upselling is a term you should be familiar with (if not, go research it now!) and is usually limited to your own products, but let’s do some thinking outside the box…
If you find someone who sells products that are complimentary to yours, they can work well as good incentives for upsells – here’s an example:
You have a booth at a craft fair or market, and a customer is admiring your handmade jewelry. She’d really love to go home with your beautiful (most expensive) jeweled necklace, which she knows is going to match her evening gown just perfectly, but she’s hesitating because of the price.
You, however, have barter traded with a crafter who makes handmade purses – for just this reason! You approach your prospective customer and suggest that if she’d like to purchase that necklace, you’ll also let her have this lovely evening purse which matches the colors of the necklace fabulously… sold!
There are many other examples – offering free fancy gift packaging or handmade greeting cards if the item is being bought as a gift; a free dining table candle if someone is buying handmade napkin rings, or vice versa; even seasonal promotions such as free Christmas tree decorations with something purchased at that time of year.
Use your imagination to find items that are complimentary to yours, and when you introduce the idea of doing a barter exchange with another crafter s/he will probably thank you for sharing the idea too!