If you’ve been considering a local currency program at your chamber, you may be wondering how it will fit into your current offerings, what’s required, and whether your members will like it or not. All of these questions affect your chamber’s adoption of the program.
In our experience chamber execs, staff, board members and members love it. Here’s why:
It’s an Additional Source of Non-Dues Revenue
Dues bring in a nice stream of revenue but you are limited by the amount of businesses that will join in your area. You need to bolster that with something that is not member dependent and can be purchased over and over. Chamber currency programs are often purchased by non-members and given as gifts so the number of sales is unlimited.
It Increases Loyalty Among Members
Every month they participate in the program, and someone uses their business, you’re able to bring a check to a member merchant. That feels great for everyone involved. Even though you’re not actually paying them, it feels that way, and merchants soon equate the chamber as a source of revenue for them instead of the cost involved in membership.
It Makes the Sale and Administration of Local Currency Easy
You can create a local currency program on your own and administer it through a spreadsheet but if the program takes off, the administrative time required to run it will be excessive. If on the other hand, you use a program that helps you manage it, your monthly processing can be done in minutes. Who doesn’t love a sufficient solution?
It Solidifies Your Dedication to Buy Local
Implementing a gift certificate program illustrates your dedication to your buy local campaign and supporting local merchants. It gives you an opportunity to attract media coverage to unveil an entire program and not just a desire for people to buy from local merchants.
Finally, it helps your chamber provide smaller businesses with an easy way to offer gift certificates. You appear to take on the administrative headache for them and they’ll appreciate it.
