Archived: Currency – The Bartering Platform For All The Things Your Business Needs
iCrowdNewswire - Sep 28, 2016
The Bartering Platform For All The Things Your Business Needs
Currency is the innovative mobile app empowering small to midsize business owners to barter for the goods and services they need to grow their business and save cash.
You’ve got big plans for your small business, and you need some essential stuff to turn those plans into reality. It might be a fully-functional website, or marketing outreach, or even some interior design work.
Whether you’re just wetting your feet as a new small business owner or already well established, disposable cash can often be hard to come by.
The best part? Currency saves users a ton of money, allowing them to better run their business and create an ultimate win-win for everyone involved.
Read on to discover how Currency helps you stop paying with cash, and start buying the things you need with your currency.
Taken individually, SMBs are just that — small. But taken as a whole, they’re anything but, representing a massive (and massively underserved) portion of the US market:With the average independent contractor earning just $44K per year gross revenue, they’re finding it hard to buy the products and services they need to expand their business or even make basic lifestyle purchases.
The result? An increasing number of business owners are mired in credit card debt and struggling to survive. They are seeking ways to run their business more efficiently and conserve money. And those that are turning to online B2B bartering platforms are reaping major benefits:
But because the online bartering space has struggled to keep pace with emerging technologies, most platforms are:
That’s where Currency comes in. Our users are in the business of providing exceptional products and services. We think they deserve an exceptional platform to exchange them on. That’s why we’re harnessing nextgen technology to bring the online bartering space into the twenty-first century and create the most efficient and effective user experience possible — all with the goal of promoting the success of small businesses.
That’s our philosophy, and that’s exactly the solution that Currency provides.
Looking to have your website refreshed? Use YOUR Currency. Need a personal trainer? Use YOUR Currency. Want some help decorating your office? Use YOUR Currency. When it comes to the things you can accomplish with matches made in our network of skilled and professional users, the sky’s the limit.
When Colin Hudon opened his tea shop Living Tea Collective, he used Currency to trade tea for carpentry work, interior design, and marketing.
And then there was the magician who bartered his performance services with a user who operated photo booths for parties.
What will your currency be?
Whatever it is you need to grow your business, we’re willing to bet that you can find it on Currency. There’s an entire world of mutually beneficial connections just waiting to be made, and we’re putting that ability right in the palm of your hand.
Ready to find out how it’s done?
Discover Currency’s interface delivers best-in-class usability. After users create an account and set preferences for what they’re looking for, the matching process functions much like Tinder. Users can swipe right on the screen of their mobile device to connect with a business that looks like a good match, or they can swipe left to continue searching for connections that might better meet their needs. When there’s a match, they get notified. Simple. Quality is assured based on ratings and reviews, and the highest rated profiles are displayed first.
Converse Matched users are dropped into a chat to begin the bartering process and negotiate terms. If they have questions or need help, our users will have a direct channel to communicate with a real human at Currency via SMS from their phone. They can update their profile, change their photos, send messages, and ask questions all without ever leaving the chat.
Trade This step is being developed into a seamless negotiation tool that will provide recommendations on the value of each service and overcome any value discrepancies between services. When completed, the negotiation tool will form a legally binding contract between the two parties.
Succeed Users redeem offers and track payment activity right in the app. Services can be exchanged online or in-person. Our rating and review system provides our users peace-of-mind, and in the event of disputes, we intervene to help resolve any conflicts.
Smile Who doesn’t love free marketing? Currency markets your profile to hundreds of local businesses every month, and matches often become repeat customers.
We founded the company in January 2016, and it’s still early days, but things are moving fast. We’re gaining tons of great traction from the public and with affiliate interest. We’re finishing up private beta testing in Chicago and then it’s on to LA and New Orleans where we’ll begin our public beta testing phase.
Here’s a look at what we’ve accomplished with Currency so far.
Investments Made We raised $100,000 in investment in January 2016.
Marketing Engine In January and February of 2016, we built a scalable SMB marketing engine capable of reaching over 1,000 SMBs per hour for around $0.07 per contact.
Who Does It Target? Our marketing engine targets SMBs by state, city, neighborhood, business name, and business category.
What Was The Process? We collected over 2 million SMB records. From those, we pulled a random sample of SMBs in Chicago, and in early May sent a message to 3,971 of them.
What Was The Result? 251 SMBs converted, 56 turned into weekly active users, and 20 trades took place within the first week.
IP We have a provisional patent on our barter process: originating a barter transaction from a single computer gesture (a swipe or tap in this case).
What’s Next For Currency?
The priority now is to build on our momentum and continue rolling out Currency on a city-by-city basis to acquire as many early adopters as possible.
We will also continue implementing our marketing engine. In July and August 2016, we will contact 389K SMBs and project, on the basis of our success so far, that we will convert 24K, with 5K becoming weekly active users representing thousands of trades per month.
Want to learn more about the Currency brand and mission? Request access to the business plan side of the profile and let’s chat!
Jared Krause | CEO | Jared is a twice-funded startup CEO, marketing wizard, and all-around product guy. He was formerly CEO at TradeYa, the largest online direct exchange P2P barter platform, and Goodlife.com, an SMB marketplace with over 10K SMBs in Los Angeles. Jared’s previous experience includes former Marketing Consultant with top-tier clients the likes of P&G and Universal.
Julia Landry | Product Designer | As Senior Designer at AD:60, Julia was the lead UX designer for Songza, acquired by Google and featured in the App store; and YouSendIt (now Hightail), featured in the app store, among many others. Julia leads product design across all aspects of the Currency app.
Ryan Tomkinson | Visual Designer | Ryan is Founder of the design agency We The Collective, with clients including Levi’s and Alternative Apparel. Since selling the company in 2012, Ryan has led the design/branding for over 50 top boutique shops.