The topic sounds super simple doesn’t it? Simple and desired, yes?
But there’s more to people buying chamber bucks and revenue coming in. The purchase is not the only form of revenue involved. Here’s how a chamber currency program makes the chamber money and is a continual source of non-dues revenue.
The Purchase
Chamber currency works the same way any other gift certificate would work. People go online, or come in to your office, and buy a gift certificate in the amount of their choosing. The money is collected by the chamber. The best chamber currency programs also allow the chamber to hold the money.
When the certificate is used, the information is recorded through the app and a simple report tells the chamber how much to pay out at which merchant at the end of the month. (It’s this easy if you have a chamber currency program that is online, like Conpoto’s.) The chamber withholds a processing fee (generally) and that’s part of the revenu.
Ads Sales
When a local merchant joins your chamber bucks program they will appear on the merchant list. There are ad opportunities on the chamber bucks web page as well as on the printed certificates. It’s an effective way to get the business name in front of people who have the certificates to spend for very little investment.
Chamber Membership
A local currency program shows the outside world your commitment to your shop local campaign. Members of the program feel supported by their community and the community sees that. If a business is new to town and witnesses your chamber’s efforts and interests in helping small business, they’ll want to be a part of it. Your actions speak to your dedication and it may increase your memberships because of it.
Buying chamber bucks is not the only way your chamber makes money from the program. You can also sell ad sales and it increases your reputation as a solid supporter of local business. It’s not what you say, but what you do, that motivates others to join your efforts.
