These 3 Myths About the Barter Industry That Could Not Be MoreWrong
Joshua Smith, EVP at Sherwood Integrated Solutions
Throughout my career in the barter and marketing industry, I’ve heard a lot of ridiculous claims about barter and how it is run. Most of these claims say that barter is shady, not trustworthy, or we make weird deals.All of these things are wrong, and completely untrue.
Below I’ve outlined three common myths I hear all the time and then debunked them to show you why they are completely false.
Myth #1: You can only barter certain inventories. Fact: What you can barter is limitless.
When I hear this myth, it usually means someone thinks the only things they can barter are defunct technologies, like headphones from 1992. But that could not be further from the truth.The list of things you can barter is limitless. Here is just a small sample of what you are able to barter:
● Hotel rooms
● Real estate
● Airline tickets
It’s not just bad junk inventory: it’s anything.
Myth #2: Barter negatively impacts the quality of your media. Fact: Barter has no impact on the quality of your media.
As a barter agency, we have to follow a carefully laid out plan that has been approved by the client as well as the ad agency. It outlines objectives, KPIs…anything that the client puts down as a goal, we need to abide by. Everything we do needs to be approved by the client. It’s no different than the relationship they have with their ad agency. We’re bartering media from their media plan — all we’re doing is executing on it.
Myth #3: I already have an ad agency, so I don’t need a barter agency. Fact: You should have an ad agency AND a barter agency.
We have investments and trades with the media community that ad agencies don’t. It’s not that we’re better buyers than ad agencies, it’s not that they don’t have the skills — it’s that our internal costs are lower because of the investments we have made in the industry. We can take the leverage we gain and pass it back along to the client. You need both for your company to be successful.
Check out the full episode of Behind The BAM to get the reallll dealllll….