Toronto business news - Social marketing and barter
Why are so many Toronto businesses using barter and social marketing to increase their sales and reduce costs of purchasing materials and supplies? Over 1000 Toronto area businesses are members of the ITEX Business Bartering organization
ITEX Toronto - January 21, 2013
Why are so many Toronto businesses using barter and social marketing to increase their sales and reduce costs of purchasing materials and supplies?
Over 1000 Toronto area businesses are members of the ITEX Business Bartering organization which counts over 25,000 members throughout Canada and the US.
Even though bartering exchanges have been around for decades, over the last few years, there has been an explosion in the use of business bartering by businesses of all sizes and types.
What is a barter exchange? It is a professional organization that enables its members to sell their products and services for barter money (in this case ITEX dollars) that they can then use to purchase a wide range of products, services and supplies from other member businesses. It is basically creating an alternate currency – carefully regulated and safe.
Why are businesses flocking to barter? Not only can they increase their sales by an average of 10 to 15 percent without marketing or advertising costs, they can also decrease the cost of materials and supplies they need to run their business. Barter is great for moving excess inventory, transforming your employees’ down time to cash, and efficiently marketing advertising, entertainment, hotel rooms, or other service resources that disappear if not used.
According to Michael Muzzin, President & CEO, ITEX Toronto, "In addition to providing an interactive online marketplace ITEX also provides a community – in many ways this is COMMUNITY MARKETING – social marketing if you will – because those members who sell their products & service by ITEX now have ITEX dollars to spend on other ITEX members products & services."
In addition to listing a company’s products and series, ITEX also works with them – on a daily or weekly basis – to expose the ITEX community to each company’s products and services, as well as providing a service that advertise company’s wish lists.
Does your restaurant need cleaning services and products? ITEX can help you find it. Does your business need accounting, flooring, new equipment or advertising, ITEX will help you make contact with the appropriate ITEX vendor who can provide those and other products and services.
More about ITEX Toronto
ITEX Corporation has helped tens of thousands of businesses generate new sales, conserve precious cash flow and increase profits. With our leading payment technology platform for processing cashless business transactions and our exclusive distribution channel, member businesses utilize our digital currency "ITEX dollars" to exchange goods and services, rather than use cash.
For information about ITEX in Toronto, please visit http://www.creativebarter.ca/