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February 18, 2014

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer... 02/18/2014

Guaranteed Financing For Independent Hoteliers

Worry free FF&E, revenue guaranteed financing. To learn more, click here.

NATE's 30th Annual Convention Coming In May

The National Association of Trade Exchanges (NATE) will be convening at the Double Tree Hotel in Orlando for its 30th annual convention, May 15-18.

The convention will include a CTB (certified trade broker) training program, availabilities for sponsorship, and vendor opportunities for displaying your merchandise.

For more information, contact Raye at 617-763-3311 or e-mail raye@natebarter.com

Do Words Equal Wealth?

Every person who has attained wealth, regardless of how they did so, had to speak to someone. And whether your aspiration is to start a company, acquire a promotion or seal a multimillion-dollar deal, it's skillful communication that will set you apart from the crowd.

A new book (Universal Talk Laws: How To Increase Your Net Worth With Words) covers the power of persuasion, the art and science of verbal communication — both personally and professionally —— and how to talk to yourself in a way that creates opportunity and going out on top.

More Women Are "Marrying Down"

Tying the knot with men less educated than they are is a growing trend for women, reports the Pew Research Center. Nearly 21% of married women in 2012 were better educated than their spouses, a threefold (300%) jump from 1960. In the 50 years of tracking this issue, it's the first time that a higher percentage of women than men have married down.

Talent Retention Now Top Priority For Business Leaders

PayScale Inc, a provider of cloud compensation data and software, reports that businesses of all sizes are concerned about their ability to retain top-performing employees as a result of the increasingly competitive talent market. (Retention was listed as a top business concern by nearly 60% of the companies surveyed, up from just 28% in 2009.)

The study was based on surveys of more than 4,700 human resources practitioners and business line and executive managers from small, medium and large companies in the U.S., Canada, Australia, India, New Zealand, South Africa and the United Kingdom.

All back issues of "From the Desk..." can be accessed by clicking here.

(Please feel free to forward our newsletter to your friends and colleagues. We have a "box" at the end of the newsletter for your convenience. See you next week...)



BarterNews.com — World's Largest Depository Of Barter Information

Hundreds of valuable articles, techniques, and strategies are found in the following various barter categories:


(The Barter Categories are found on the horizontal bar at the top - 3rd button from right.)

Three Reasons Why Your Trade Exchange Membership Is Priceless

1) Lower Customer Acquisition Cost

Your cost for customer acquisition in the barter marketplace, when working through your trade exchange, is lower than in the cash marketplace where you have to hunt and pay for every lead and sale. Unlike the cash world, your barter business is driven to you through the various efforts of the exchange and your hard-working trade broker. You're fishing where the fish are — and that's a major difference!

2) Greater Customer Retention

Mail-order catalog consultant Jack Schmid says that only 50% of first-time buyers come back for a second catalog purchase. Ouch! In the barter world the percentage of first-time buyers returning is considerably higher. Why? Because we all operate in our own best interests.

Plus the trade exchange system rewards us for buying products and services at our "barter cost," which is always the most economical way to make a purchase. Therefore a trade client is more of a core customer than a cash-paying customer, and will continually frequent your establishment if all things are equal.

3) Ever-Increasing Sales

The real measure of a healthy business lies in the strength, depth, and length of its relationships with its core customers. A satisfied barter customer will go out of his or her way to increasingly do business with you — buying more often, as well as placing larger orders.

Money-Making Reports Available From BarterNews


Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter company's listing on BarterNews.com isn't current, you are definitely missing out on new business. The web site BarterNews.com receives heavy traffic -- with over 150,000 page-views every month. Entrepreneurs and corporate executives check the thousands of articles, the weekly "Tuesday Report," and the "Contacts Section" of our site. They use the latter to find barter companies with which to do business.

Is your barter company's listing up-to-date?

To keep your listing current is very easy. See the links below to (A) update any changes to your company's listing, such as new location, phone number, web site or other information, and (B) if your company has not been listed.

Here's how to get on board:

To make changes to your listing click here.

For new listings click here.


Economist Says America On Verge Of Resurgence And Dispels Five Major Myths

Economist Joel Kurtzman, a senior fellow at the Milken Institute, says America is ready for resurgence. Leading the way will be these four transformational forces: tremendous creativity (America produces more creative ideas than any other country), tremendous energy reserves, reserves of capital, and a re-shoring of manufacturing.

Five myths about the U.S. economy dispelled:

1) America is broke: The private sector and the American consumer are healthier than ever in the last 35 years, according to Kurtzman. The public side is another story, but it's improving.

2) High unemployment rates are here to stay: High jobless rates are concentrated in people without a college education and those under 25. Unemployment for those over 25 with higher education is around 4%.

3) China is ascending while America is declining: Kurtzman says China is coming of age at probably the worst time in history for a country that wants to be a manufacturing power. China's strategy involves having 200 million people working in manufacturing within a decade, which can't be accommodated. Meanwhile, the U.S. has moved from a manufacturing-centric economy to a service-focused-one — a transition that China will eventually have to make and it will be a very difficult one for them.

4) America is a spent power: The U.S. is in a great position for growth because it remains the world's leading military and manufacturing power, has trillions of dollars in capital to deploy, and is now less dependent on imported oil given the development of its own energy reserve.

5) America doesn't make anything anymore: Simply not true, argues Kurtzman. America is the dominant manufacturing power in the world, if you include what we make overseas. But if you look at just what we make in America we make 20% of everything produced. That's about the same as China, but China makes low value-added products such as towels and clothing. We make the big expensive stuff like airplanes, radar, and turbines.

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Taking Your Customer From Hell To Heaven In 60 Seconds Or Less

By John Tschohl, President of Service Quality Institute

Every company makes mistakes that could cause them to lose customers. I don't care what business you are in, something will go wrong. But the smart companies know how to recover a customer and turn them into loyal customers for life.

However, less than 2-percent of companies use service recovery techniques — which is pretty sad. All companies make mistakes; all companies have things go wrong.  Unfortunately, many companies and most employees run for cover instead of solving the problem.

The problems are only getting worse, thanks to social media. If customers aren't happy, they'll post the problem on Twitter and Facebook. They'll do it fast. Then you'll have a massive public relations problem that will take time, effort and money to fix.

Instead of handling problems quickly and efficiently, most employees pass the buck or lie! That's because people don't like confrontation. Instead of saying they messed up, they might say the product was shipped.

Companies spend a fortune on marketing. But they don't spend a dime teaching front-line employees to keep the customer from defecting. Wouldn't it be better to spend that money on training employees to handle problems in the first place?

The most important person is the one who has direct contact with the customer. Unhappy customers won't call the company president. They will talk to whoever is in the store or answers the phone.

Those are the people who need to follow the 5 Golden Rules of Customer Retention:

  • Apologize and offer a better option. For example, they might offer expedited delivery at the company's expense.

  • Act quickly. They must respond to the complaint within 60 seconds. That's when the magic happens.

  • Take responsibility. Most employees shovel the problem off and blame others. Customers know when they are being passed along the chain, and they don't like it.

  • Empower employees to make a fast decision. Each front-line employee should be able to take action quickly. They shouldn't have to ask for managers to get an approval or pass the buck to them. Empower them to take action.

  • Give away something that has high value and low cost. Customers will be pleasantly surprised and delighted with your company if you not only make things right, but make things better.

    For example, let's say a customer calls to complain about a new computer that has a hard-drive crash in the first month. In addition to solving the problem, you might offer an extended warranty. It costs the company nothing, but it has a high-perceived value to the customer.

While I find it hard to find examples of companies doing this well, here are two companies that stand out from the pack:

  • Outback Steakhouse

If there is any kind of a problem, they immediately take care of it. I once had a dirty knife with water stains. I only wanted a new knife. The waiter apologized and brought me a new knife. The manager also came over to apologize. He also offered me a free dessert that cost about eight dollars. The dessert might have cost him only a dollar but it meant everything to me. Now I tell thousands of people about my positive experience.

  • Red Box:

I recently ordered a DVD movie but it wouldn't play on my TV. I called them and quickly realized that I ordered the Blue Ray version by mistake. Blue Ray doesn’t work on my TV. Even though it was my mistake, they offered me two free rentals. What’s the cost two DVD rentals to them? Nothing. They turned me into a customer for life! Very few firms understand that concept.

Companies should spend some of their money on customer retention, it is all about creating loyalty and a fan base. Customers will come back more often and their loyalty is greater when they have experienced service recovery.

That's how you can take a customer from hell to heaven. 

John Tschohl, described by Time and Entrepreneur magazines as a customer service guru and service strategist, presents strategic keynote speeches to companies worldwide.  He is the author of Loyal for Life.


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The Growth and Use of Secondary Capital (New Money) Creates Unprecedented Wealth In Today's New Age Of Possibility

There are many forms of secondary capital — which can be defined as any financial instrument that measures and communicates value in a common language. Would you like to see and learn more about the many forms of secondary capital?

 We have 70 free, informative and inspiring, articles for you in our "Secondary Capital Section."

Check it out... www.barternews.com/secondary_capital.htm.


Get New Money-Making Ideas And Valuable Contacts!

You can obtain useful, informative ideas and contacts in every available back-issue of BarterNews.


Every barter company in the world is listed on our web site, click through to our Global List of Barter Companies.



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