Testing an idea (Barter site) - been itching to this.

[BlokeInProgress]

Been having this idea on my mind to build a site to have items or services traded for other items or services. So to start, I did a couple of research online for sites that has the same theme. There are a few and sites was either not user friendly not done at all.

Before I dwell into another journey (go all-in), I'd like to have some confirmation first from the audience so I can avoid further pain and loss.

What did I do?
1. Created a Facebook Page - Business page at first but I changed it to a Community later on.
2. Went to Fiverr - created a fun little video clip for a small amount of $.
3. In the FB Page - wrote some terms and condition and a how-to post.
4. Went to Canva - created a banner and logo for free.
5. Created one post that offers an item - will have friends help out and post some of theirs.
6. Posted the 19 sec video in the FB Page.
7. Run FB Ad - promoted the page (run for a week), I can pause and adjust if needed.

Now, I'm gonna wait for a couple of days to see whether there is a demand for this. If there is, then I'll proceed with the all-in plan.

 

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[Surf16]

Great post!

I am doing a similar test but directing traffic to a landing page. We ran Google Adwords and FB ads.

1. Created a Facebook Page - Business page at first but I changed it to a Community later on.

Can you tell me the basic differences between the two?

I also just started using Canva to make Instagram posts. I didn't know I could make videos as well. I will look into that.

Good luck!

 

[BlokeInProgress]

Great post!

I am doing a similar test but directing traffic to a landing page. We ran Google Adwords and FB ads.


Can you tell me the basic differences between the two?

I also just started using Canva to make Instagram posts. I didn't know I could make videos as well. I will look into that.

Good luck!

Hi Surf16, heres a good simple defintion of the types of pages. I used community coz I wont get any profit over my page as I barter items and services.

Which type of Facebook Page should I create? | T&S Online Marketing

Yeah Canva is a good free tool for social media. Im not sure if it has videos though but there are free videos online (you can reuse) as long as you mention the authors.

Good luck on your journey.

 

[Valhalla]

How do you provide reassurance for users that they will receive the agreed upon transaction without a payment medium?

 

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[Ecom man]

I guess the main issue I have with a barter site or even a barter store is that in the US we already have a pretty well working barter system.

I have something I don’t need but need something else? I sell the first item for a certain amount of money. I then take said money and buy item number 2. That exchange is far easier than trying to find someone to trade my lawn mower for a new couch and both scenarios work the same.

Most barters are based on how much an item can be sold on the open market for anyway. I have an item I can sell for $300 on Craigslist then I want to get something that is also worth $300 in exchange for it...

 

[BlokeInProgress]

I guess the main issue I have with a barter site or even a barter store is that in the US we already have a pretty well working barter system.

I have something I don’t need but need something else? I sell the first item for a certain amount of money. I then take said money and buy item number 2. That exchange is far easier than trying to find someone to trade my lawn mower for a new couch and both scenarios work the same.

Most barters are based on how much an item can be sold on the open market for anyway. I have an item I can sell for $300 on Craigslist then I want to get something that is also worth $300 in exchange for it...

Hmmm...you actually have a point. Probably whats the reason why the barter sites I've researched didn't took off. I've also been testing the demand and has very little. I think the data doesn't lie.

How do you provide reassurance for users that they will receive the agreed upon transaction without a payment medium?

That's also one issue that I saw, I was thinking to hand over the task and responsibility to the customers which is not that good of a service.

We'll at least the data tells me that it's not a viable and worthy goal.

 

[Valhalla]

We'll at least the data tells me that it's not a viable and worthy goal

What about doing it on a B2B model? As an observation from consulting with small businesses, many owners misguidely treasure their money but not so much their time. So I think the thought of giving up some time/expertise to get some time/expertise in return might not be a crazy thought. So, for example, a platform where a user can offer up the services their company provides, ie. Graphic design in exchange for something they need, ie copywriting. It would go to a pool with a specified value so users wouldn't need to find a trading partner.

As mentioned, this is exactly what money does but from my perspective, some people hate Hate HATE spending money so providing an alternate medium of transaction might be really appealing to that niche.

The few barter sites I found are insanely bad with one offering black market Adderall so there could be an opportunity if you find the demand.

 

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[BlokeInProgress]

What about doing it on a B2B model? As an observation from consulting with small businesses, many owners misguidely treasure their money but not so much their time. So I think the thought of giving up some time/expertise to get some time/expertise in return might not be a crazy thought. So, for example, a platform where a user can offer up the services their company provides, ie. Graphic design in exchange for something they need, ie copywriting. It would go to a pool with a specified value so users wouldn't need to find a trading partner.

As mentioned, this is exactly what money does but from my perspective, some people hate Hate HATE spending money so providing an alternate medium of transaction might be really appealing to that niche.

The few barter sites I found are insanely bad with one offering black market Adderall so there could be an opportunity if you find the demand.

I agree that businesses do hold on to their money as much as they can but one thing that they need is money too which is why they'd rather sell their items than trade them (liquidation sales, too much inventory sales, excess sales, season closing sale, etc...). But you are also correct, it could be a small niche which nobody has explored that much yet so, let me look into it.

 

[BlokeInProgress]

Got my FB ad ending tomorrow.

So far not much like to even a post or inquiry. I'm thinking of parking this idea for now.

 

[MHP368]

Like simbi or skillsbarter.com?

 

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[BlokeInProgress]

Like simbi or skillsbarter.com?

That looks like a good idea!
Something to look at, thanks for the suggestion.