Sunday, April 06, 2008

Is Bartering Practical?

Since ITEX has become a sponsor of BizPlusblog, people have asked me, "what is 'cashless marketing'?" Cashless marketing means bartering, which is the trading of goods and services and ITEX is one of the most established companies when it comes to such a system.

Bartering was the prevalent means of exchanging goods and services long before money. Money replaced bartering only because cash and coins were easier for such trades than finding a perfect match for a product or service. When countries had irresponsible monetary policies (like Germany after World War I), it was often natural to go back to trade.

So, why would cashless marketing, like that facilitated by ITEX, make sense today?

It has an outstanding history that make as much sense today as it did in the early 80s when it was founded. This is from its website: Founded in 1982, ITEX is a leading marketplace for cashless business transactions across North America. ITEX processes over $250 million a year in transactions across 24,000 member businesses and 95+ franchisees and licensees. Member businesses increase sales and open new markets by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for cashless business transactions. ITEX is headquartered in Bellevue, Washington.

What are its other advantages?

ITEX dollars are used to buy and sell products and services among members instead of spending cash

Record keeping services for expediting and simplifying the transaction process
Access to "Trade Directors" in local regions for facilitating new business among members

Private membership directory reaching new customers and moving idle inventories

24x7 online account access

ITEX offers thousands of ways to spend your dollars. In hot economies, people buy vacations and in cold ones, they cover business expenses. Whatever the reason, it makes sense in this writer's opinion. That is why I have been a member for over a year.

Kevin Price is an ITEX member and was a member before ITEX became a sponsor of BizPlusBlog. Consider the above video with the CEO of ITEX.

For a copy of the free report, "Why Your Marketing Isn't Working," email Info@HoustonBusinessShow.com and put "marketing" in the subject line.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

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Anonymous Chris Pale said...

I was in a program like this years ago. I need to look into this.

4:39 PM  

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