Use BBX as a mechanism to win cash contracts (this can also be used to retain a cash customer you may possibly lose)

Winning contracts is sometimes tough without discounting. However discounting devalues your product or service. To secure a sale from a prospective cash paying customer you can offer to accept part of the payment in goods or services. You can then either use the product or service yourself, try and sell for cash or BBX can sell the goods or services within the network turning the inventory into BBX Pounds.

Here is an example of how this worked for a radio station.

Media companies struggle with discounting because once you discount then the customer wants the discount ongoing and then they tell other people who in turn want the same discount. Ever had that happen to you?

A particular radio station had several customers who had turned down an advertising package because it was out of their budget or couldn’t afford it. One of these was a painting and decorating company who was offered a package that was valued at £5K however their budget was only £3K. Rather than discounting or having to let the customer go the radio station offered the campaign in return for £3K in sterling AND £2K worth of credit for painting and decorating. The radio station didn’t require any painting or decorating however a marketing company within BBX had just moved into new offices and needed all their walls painted. The radio station sold the £2K worth of painting and decorating credit to the marketing company for £2K BBX.

The Net result being:

• The Radio Station maintained integrity in their price, received £3K sterling and £2K BBX, gained a new customer that they otherwise would have lost AND If the radio station deliver value it is likely the painting and decorating company will renew their campaign.
• The Painting and Decorating firm are happy because they picked up the advertising campaign within cash budget AND they received a new customer.
• The Marketing company got their new office walls painted saving £2k in cash.

This is a tip for winning business outside of the BBX community.

Tendering for any jobs?

Who have you recently quoted for that haven’t gone ahead because of price/budget?

Similar tips: See Offer to Supply and Trade Purchase Request.

Need further explanation or you would like to know how to implement in your business? Call your account manager on 0333 400 2014 or request a call back below.