If you’re considering an external chamber bucks program, there are several things that will increase your success. For instance, choosing a system that is online will help you spend less time on the administration of the program and will allow people to buy from you when the chamber is closed.
But there are also less obvious features/requirements that are still just as important in selecting a system.
5 Little-known Requirements for a Successful Chamber Bucks Program
Chamber Holds the Money
This seems like a basic one but not all vendors with chamber bucks programs allow the chambers to hold the revenue. Most of the time this is fine but occasionally it causes trouble, like if the local currency vendor goes out of business.
The Appreciation Is all the Chamber’s
When people buy chamber bucks and spend them with local merchants, how does your chamber bucks vendor pay out? A successful program will allow the chamber to cut the check and hand deliver it to the business. This produces a lot of good will. Instead of asking the business for their yearly dues, you’re giving them money. That feels good for everyone and establishes a positive expectation when they see you.
Revenue Opportunities Are the Chamber’s
Some local currency programs allow you to sell upgrades for more visible merchant placement or ads. Before selecting a vendor, find out if that revenue is yours or theirs. Often if they do the selling for you, you’ll receive a portion of it. If you sell it yourself, it belongs to you, minus perhaps a small processing fee. Make sure you understand the extra non-dues revenue component.
Large Employer Participation
Many chambers see a chamber bucks program as something for just their local merchants and small businesses. Large companies will appreciate it too. While some chains are unable to be a part of a chamber bucks program, they may give out employee awards and gift certificates. Approach them and encourage them to give out chamber currency instead. This allows them to be part of supporting local. There’s room for all businesses in a strong economic community.
Point of Sale Compatibility
A great chamber bucks program allows restaurants and bars to incorporate it into their point-of-sale system for easy processing and coding. Not every system does, so be sure to check with the vendor.
Chamber bucks programs can have some vast differences. Often selecting to work with a vendor is easier and less time-consuming for you and your staff. Many systems end up paying for themselves and it sure beats entering everything in by hand.
