Click the link http://www.npr.org/2011/09/27/140596332/smaller-banks-use-free-checking-to-lure-customers for a great story about how local banking keeps money in our community and how the larger banks continue to raise their fees on everything from checking to ATM use. In Reno checkout Heritage Bank of Nevada http://www.heritagebanknevada.com/

For most businesses, times are tough and sales are down.  The need to cut costs makes a lot of sense. One line item that usually tops the list of expenses to be reduced or eliminated is advertising.  Many experts agree that advertising dollars should be viewed as an investment for long and short term gain, not an expense. No matter your view on advertising, before you chop your marketing dollars consider the following.

• Media feels the pinch too - Television, radio, newspapers and online media outlets are all feeling the pinch of a slowed economy. This means that there are good deals to be had for advertisers and they are ready to barter.
• Consumers are shopping for service, connivance, and price -To make their  income go further, consumers are spending more time comparing prices and services before making a decision. The internet makes finding the best deal a powerful tool for consumers and a great way for your business to reach them.
• Get a foot up on your competitors  - As your competitors reduce overhead on their advertising, it provides you with an opportunity to improve branding and increase market share at reduced costs.  When you use your barter company to offset these cost your competitors will be chasing you trying to figure it out; while they are watching their customers walk in your door. 
• Be creative - Review your in-house marketing plans and budgets. Make sure you are getting the most bang for your buck. Shop around and ask lots of question. Sometimes the best deal isn't the cheapest. Look into free resources such as The Reno-Sparks Local Business Co-op http://www.livelocalrenosparks.com/.  

Reno businesses are finding that bartering is common in virtually all media. The media must sell their advertising space (or time) or else the deadline will pass, and the opportunity will be lost forever. Therefore, many publishers and broadcasters are eager to "trade out" their unsold ad space or time, whether the company is a small weekly newspaper, a television or radio station.  Western Trade Alliance offers several media outlets for our members to use their trade dollars to barter for advertising.  

Western Trade Alliance businesses can also generate cash as a by-product of earning WTA Trade Dollars. Hotel Casinos are a good example of this process.

Cost such as the mortgage, insurance and utilities for hotel are fixed, whether the hotel is fully occupied or  empty. The  cost of filling an unused room is minimal and once a room goes unoccupied that money is lost forever.  To pay for the extra house cleaning, laundry, and complimentary items such as soaps and shampoos, it costs about $18 per room night. 
Now think about how much cash revenue that eighteen dollars can generate. The people staying in the room gamble, order room service, show and enertainment, magazines and gifts from the gift shop, use the spa and eat in the restaurant. as you can see visitors spend a lot of money on the services the hotel offers.  The hotel has generated cash it would not have had while receiving full value for the room in Trade Dollars. In addition to the new cash flow, the hotel casino can use the WTA Trade Dollars it earned from selling excess inventory to offset cash expenses.


There are many other types of companies that can also generate new cash sales from participating in a barter exchange. These include, auto repair facilities that also sell vehicles, computer repair companies that sell computers and HVAC service companies that sell equipment. The companies can offer their repair and maintenance services on trade and also market vehicles, computers and equipment to these new customers to generate new cash sales.

 

Any business or individual that sells a product or performs a service can become a member of Western Trade Alliance.  The more members our network has the better variety and options our members have to spend their trade dollars.  WTA is always looking for quality businesses to join our network and we would be happy to discuss your business needs and goals. Please contact WTA to get your business started down the road to increased market share, higher profits and cash savings with the power of barter.  

I attended a seminar on marketing over the internet and social media at the Reno Sparks Local Business Co-Op on Thursday http://www.livelocalrenosparks.com/ .  The speaker Dr. Bret L. Simmons opened my eyes to the power of social media and to what he calls 'inbound marketing".  Dr. Simmons approach to social media is to give first and the sales will follow. He also teaches that by posting useful information to your blog and not trying to make sales increases credibility to your business and to you personally. Dr. Simmons has a great website http://www.bretlsimmons.com/ that you should checkout and if you get a chance to hear him speak don't pass it up!  

Reno businesses are taking advantage of an ancient form of commerce called barter.  The way traditional or "one-to-one" bartering works is: a business trades its goods and services for goods and services from another business rather than using cash.  This form of barter works well until it doesn't.  The difficulties associated with one to one trades can include: determining who keeps track of the trades, a limited trading variety, risk of loss (trading partner goes out of business), and tax implications. The number one pitfall is that people tend to trade with cash customers, thereby converting a cash paying customer to trade. Reno businesses are finding a solution to these issues by joining a formal barter and trade company such as Western Trade Alliance.  Formal barter companies work with several hundred businesses, allowing companies to trade with many instead of one, tracking trades with convenient monthly statements, offering 24-hour website account access, and by utilizing barter professionals to help facilitate transactions and making it easier to spend.  The Reno barter economy is growing and Western Trade Alliance is the engine for that growth. 

WTA will pay 100 trade dollars to you and 100 trade dollars to the businesses you refer.  This exciting new referral program rewards you for helping WTA grow and gives your referral a chance to try the network completely risk free. We are looking for restaurants, pest control, dentists, lawyers, media, electricians, lawn and garden maintenance, and any other business that would benefit from increased sales and savings with the power of barter. Please contact Nate Lance at 775-636-8191 or nate@westerntradealliance.com with your referrals today.