Attracting Buyers Instead of Sellers

The latest "hot button" on my radio show is the importance of attracting buyers and not sellers in your marketing. It seems like a "no brainer," after all, no one purposefully seeks people who want to sell to them, they want to find people who want to make a purchase. Ironically, their marketing often has the exact opposite effect.

How does that happen? It is really quite simple. Every day, business people are eagerly developing slick radio, print, TV, and web ads with the intention of attracting new customers. The car dealer who is hoping to snag a few customers, the home builder developing a new subdivision, or the accountant wanting to help more businesses with their taxes. All with smart intentions, but they often suffer the wrong results.

When they write these ads they fill them with broad hyperbole that says little about the company, bore potential customers with songs they don't want to hear, or make claims that every other company can boast (you are open FIVE DAYS A WEEK? What a concept!).

Meanwhile there are untold numbers of account executives who are in desperate need of customers. There has been a major shift as to where people go for their news and information and most in media sales can't keep up with the changes. They are losing customers faster than they are gaining them.

So while the rest of us shun print advertisements, clever radio spots, TV ads, and other propaganda. These account executives often look for such content exclusively. They will spin their radios away from their favorite songs if they think there is a potential buyer -- that could be you -- out there waiting for them to call. Just think, spending thousands on an advertisement that solicits other advertisement sales people.

So what can buyers do differently? They can emphasize their differences with other companies by shying away from price competitive approaches and focusing on the things that separate them from the pack. They can position themselves as the expert and instead of placing their content where people don't watch, read, or listen, but where such gets attention. This form of sophisticated marketing makes a major difference in a company's performance.

So it is time to ask the question, is your marketing working for you or is it merely attracting more sales people? We want to help you answer that question in a new audio program available at no cost by emailing 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.

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.