Bitcoin: A Small Business Best Friend

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Information about Bitcoin: A Small Business Best Friend

Published on February 19, 2014

Author: victorconcepcion1



Marketing strategy for a small business would be to “get some free visibility” for existing new customers who already are buying, selling and using Bitcoin and creating new customers who are not buying, selling and using Bitcoin due to ignorance of its existence or what it is and how it works by educating them.

Bitcoin: A Small Business Best Friend “Food, electronics, precious metals, in addition to web services and gifts, are the types of companies most often using Bitcoin payment integration. It’s a good thing for business”-Brett Combs & Tom Mitsoff (Bitcoin Decoded) Earlier today at a forum, a business owner asked this question for the topic, “Should a Small Business Accept Bitcoins?"We can go through the obvious reasonsas to the “why,” namely the following from the reputable The lowest fees out there Protection against fraud Fast international payments No PCI compliance required Get some free visibility Accounting transparency However, part of a (ought to be) marketing strategy for a small business would be number 5“get some free visibility” for existing new customers who already are buying ,selling and usingBitcoin and creating new customers who are not buying, selling and usingBitcoin due to ignorance of its existence or what it is and how it works by educating them. First, according to statistics, even as I write at this moment, there are currently 3144Bitcoin accepting merchants across the globe. What this means is that there is global awareness that every day more consumers are buying, using and selling Bitcoin, all around the world who are willing and ready to use theirBitcoin who are actively searching for merchants who are accepting it as a payment.

Bitcoin is a small business best friend not only because of the above reasons giving by, but because there is an amazing growth rate of new customers reservoir ready to be added to an existing small business customer/client base. MarcAndreesson, a co-founder of the venture capital firm Andreessen Horowitz, wrote an article for the New York Times, “Why Bitcoin Matters:” “Every day, more and more consumers and merchants are buying, using and selling Bitcoin, all around the world. The overall numbers are still small, but they are growing quickly” Secondly, granted that although Bitcoin is growing at an alarming global scale rate in its popularity among those who are currently buying, selling and using it, it’s not an easy task to create new customers who have no idea of its existence, or even if they do, they are ignorant regarding what it is exactly and how it works. This is where education overcomes the barrier of “fear of the unknown” and encourage the customers to perceive the value of Bitcoin thus creating even more free visibility in order to add more to a small business’ existing customer/client base. In his book, “Marketing: Volume 3,” Patrick Bunker, writes, “in order to create a new customer, you must be able to get customer to do something that is out of the ordinary.” In this case, providing the option for customers to buy and useBitcoins as an alternative or option of payment than the traditional currency. He goes on to say that, “the product or service is not the cause of the problem, but instead it is the solution.” This is where, as a co-founder with, I highly encourage small business owners to take advantage of the company’s Bitcoin E-learning platform to educate your clients/customers of the value that Bitcoin provides: Security and control over their money Works everywhere, anytime. Zero or low fees. Protect their identity Fast international payments. Customers comes across the total opposite (problems) with traditional payment networks (credit cards, etc.). Finally, as an added value to small business owners, by providing the educational product-line via, profits are generated on a monthly basis with 100% commission on the sales of the products that is paid within approx. 2 hrs. Thus, as a small business owner, income is created by building the client/customer base with free visibility via providing educational product-line to overcome barriers due to ignorance which leads to having the ability to pay business overhead expenses, overcome problems of payment network fees among other issues that a small business experience and generate profits.

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