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Business: Xenox Diamonds
Owner: Karl Schwantes
In August and September last year, I decided to do something a little creative with my Bartercard trading points. I used them to book accommodation in Thailand and Fiji; not for myself, but as a reward for customers.
I ran a promotion giving people who purchased an engagement ring within a certain time period the chance to win an incredible trip to Fiji or Thailand. Because I’d used trade dollars to fund it, there wasn’t a great strain on cash flow, and the way it both generated sales and got my company’s name out there more was invaluable.
This was a really great idea that worked well for me, and I’ll definitely be running similar promotions in the future.