Getting the right product and services together to offer in a contra deal can be a challenge but you should not make the mistake of underselling yourself. If you are in business and operating (particularly through these challenging times) then it is logical to assume you offer something of value to your customers. Think about this when devising your contra dealing strategy.
When the word ‘contra-deal’ is thrown about it is easy to conjure up images of boardrooms and long complex negotiations, however a contra deal can be as simple as asking for a business recommendation in return for what you offer. Today we break down this and some of the other great things you can offer
1. A link back to your website
If you are operating your business in the digital space, or even if you are a company operating offline a link back to your website can be great for SEO (Search Engine Optimisation) which can help drive more visits to your business. This is good for increasing brand awareness and a good website with high traffic can be a great way to drive more sales for your business.
2. A recommendation on LinkedIn and other platforms
Recommendations are a good way to build authority and trust amongst potential customers. Whilst these contra-deals can work well on LinkedIn, they also are good on many other different platforms. Some of the best ones include: TripAdvisor, Yelp, Trustpilot and the popular social media platforms.
3. Ask for referrals and hand out some business cards
Referrals are another good way to get more business for your company. Asking for them as part of a mini contra deal is also a good way to get some return on investment for any ad hoc work you have done for a client but for whatever reason do not feel comfortable billing for.
Try and ask for these without being too pushy as they are a great way to perform more contra dealing in the future.
4. Ask for endorsements and recommendations for your website
Whilst referrals are normally offline, endorsements and online recommendations can be a good way to transfer that value to an online platform. Whilst this return from a mini-contra deal will not give an immediate impact in terms of potential leads, it’s a great way to build credibility on your site.
5. See if they have any non-productive stock you could use
One of the ways that you could get some value for your business not from a marketing perspective is through seeing if the client has any products they could offer you in return for your services. Bare in mind that as with other contra deals they should match the value of the service you are offering. This can be a good way to keep your business productive if you are entering a slower period.
6. See if they are willing to provide feedback on your services
Feedback is also a good way that you could get some valuable information in return for any service you give in a small contra deal. As this will not require a huge amount of effort from the client it could be asked for in tandem with other contra deals listed here and other more in-depth options.
Use the small contra deal as a springboard for bigger projects
As with many aspects of business getting your foot in the door is one of the biggest challenges many face. These smaller contra deals can be a good way to build trust with your clients and can act as a springboard for bigger projects in the future. If you do embark on this, make sure you have a thorough understanding of what to offer in a contra deal and how to structure one.