As a web design, digital marketing and lead generation company, It is not often that we make recommendations for other marketing services since they are so flawed and lacking in real value to the business paying for it. But, without question, we recommend IMS Barter to almost every business in Cincinnati.
So what is IMS Barter and why should you join it?
IMS Barter is a company that operates nationally, but seems to have a big presence here in Cincinnati and Northern Kentucky, and also in Columbus, Ohio. In a simple sentence or two, they allow you to barter your products and services with other businesses on the network.
But, it is even better than that. When you provide a product or service to someone, you earn a credit to use with any business on the network. So, if we sell a brand new website to a roofing company, we earn credit that we can use anywhere (we don’t have to buy a new roof).
In the Very Beginning….
We signed up not really knowing what to expect, but we didn’t have to pay any fees until they sold some of our services. To put that into different words, our IMS Reps (Mark and Charlie in our particular case) went out and found businesses wanting new websites for their business.
Once we did the work and earned the IMS Barter credits, then we paid a really low fee, about $6 per month, and another $6 in IMS Dollars, and we earned thousands of dollars in our first few months just building a number of small business websites.
It was like having a sales staff that only took 12% after the sale, and we were able to then use the IMS Barter to do a number of things, including fix a retaining wall, build a brand new back porch, replace an aging and leaking roof, go out to dinner 2 times a week at local IMS restaurants, get hair and nails done for my wife each month at a local salon in Fairfield, etc.
Possibly my favorite was going to Findlay Market in Cincinnati and purchasing all of our chicken, steak, hamburgers, roast beef, and turkey from the 2 meat vendors there. We literally buy all of our meat on IMS Barter and keep a ton of money in our pocket from not having to buy meat at Kroger anymore.
You get the idea, the IMS Barter credit was an incredible way to stop paying for so much of what we already were paying for. Sure, we had to spend time working on the websites, but we structured our business in such a way that all the IMS accounts were handled directly by ownership and not paid staff.
This way we had virtually no overhead in terms of payroll allocated to the IMS clients which would have put us in a negative cash flow position. This allowed us to really understand the IMS Barter clients and build a powerful reputation within that community.
If your business can handle additional clients without too much added overhead per client, IMS Barter will be the best decision you ever make. A good talk with your CPA and/or Tax attorneys is recommended, because if you are a C Corporation, it was my understanding you could not use any of the IMS Barter for any personal reasons.
Changing to an S Corporation was what we were advised by our CPA firm to do prior to earning IMS barter dollars.
With IMS Barter, you definitely want to be a little proactive, talk to your broker and let them know the different services you offer, and types of customers you want. While they are not working full time for you, they have an entire network of customers and are out in the field every day talking to new businesses.
If you on IMS Barter, definitely get in touch with us if you want to sell us something, or if you want any of our services, which you can find on our services page. We offer everything on IMS Barter and would be happy to have a conversation with you.
Hopefully this helps explain a little bit about IMS Barter and how it can work for your business.