BizX enables business owners to turn their spare capacity into value. Empty tables, unbooked hours, empty hotel rooms - all swapped for BizX dollars, a currency redeemable at any of our 6,700+ business members. How BizX members spend their new revenue varies and is driven by their business & personal priorities, but there is one priority that is more common than the rest. GROWTH.
One of the best ways to utilize your BizX is to grow your top line by investing in media. And in case you don't make it to the end of this article, FORM and we'll reach out to you to help build your media strategy. Read on!We hear it time and time again. "I didn't open my business to save money - I opened my business to make money!" I get it. It makes sense. And used properly, your BizX dollars can be unleashed to accomplish this fundamental business objective.
The #1 Spending Category in BizX is Media & Advertising
Advertising to a business is like gas to a car. Without advertising, the business won't run for very long. The US Small Business Administration recommends that local businesses spend 7%-8% of gross revenue on advertising initiatives. Yet, most local business owners forego advertising entirely, as it doesn't feel "essential." This is a big, BIG mistake.
Think of it this way.. Do you provide a great product or service to your customers? Are they pleased when they patronize your business? If so, it stands to reason that the more ATTENTION you draw to your business, the more customers will be drawn to you, and the more loyal customers you will build with your great offering. But the financial pressures are real.
For many business owners, BizX is like a secret weapon that makes investing in GROWTH possible.
Because all BizX dollars earned are incremental to your business, you can stow them away to invest - guilt free - in advertising your business. The average BizX member earns 5% of their total gross revenue in BizX dollars, so if they were ALL invested in buying media, that would make major progress against the SBA guideline! And the idea of using your BizX to drive in more CASH customers is just - well, its beautiful isn't it?
The Story of an Iconic Northwest Brand Turning BizX into Cash
Gene Juarez Salons & Spas, in Bellevue WA. If you live in the Pacific Northwest, chances are high that you know these guys. You might have even walked through their doors once or twice to tweak the look, or hit the spa.
This iconic northwest beauty brand employs nearly 1,000 service providers, performing a wide array of beauty services. The forward-looking leadership team at this thriving business understands that to continue to grow, they need to get creative and - let's face it - a little bit scrappy in the never ending quest for new customers. So in 2014, Gene Juarez joined BizX to earn new clients & improve their cash flow.
GJ draws new clients to the salon via the BizX network and has managed to accumulate a large and sustained balance of BizX dollars. With growth as their #1 priority, GJ uses this new revenue to drive in even more awareness & clientele - a double whammy of growth.
Primarily, GJ uses their BizX to broadcast their brand across several media channels, including Print (425 Magazine, South Sound) and outdoor (bus boards). The strategy is working, with the company posting record new client growth in recent years.
There is a Plethora of Media Options Available to BizX Members
Local & national, print, digital, radio, out-of-home, and social media options as well. Which of these formats you leverage, and how you bring your brand to life (keep in mind, there are truly terrific creative & design companies in BizX to help with this step) is up to you. But we are here to help.
Taking the next step is simple. Fill out this quick FORM and one of our media experts will reach out to you to help turn your BizX into cash.
Still on the fence? Ask yourself this question: Would your business be better if more people knew about it? I thought so 😉