© Can Stock Photo Inc. / magannIf you have a local gift certificate program designed around chamber businesses, you should be seeing a significant amount of non-dues revenue. If you aren’t, or if your system is more headache than happiness, it’s time to switch programs.
Technology capabilities surrounding local currency programs have changed over the past several years. If you have any of the following problems with yours, it’s time to see what else is out there:
Problems with Most Local Currency Programs
Long Payouts
If your local currency vendor partner holds the revenue and pays it out to you so you can pay it to your members, payment times can be long. Business owners who are providing the service or product want to see quick payment. If not, they are less likely to feel the benefit of being part of the program.
Someone Else Cutting the Check
If your vendor partner mails the check directly to your retail member, you are missing a key opportunity for engagement and good will. When a member business is part of your gift card program and you walk in there every month to present them with a check, your chamber becomes the hero. They associate the good will of receiving payment with your smiling face. This works wonders for establishing loyalty in the gift card program and increasing chamber dues renewal rates.
Administrative Nightmare
Without the proper tools, managing a local currency program can become a full-time job. Most chamber employees don’t have that kind of time. Look for a program with online access and efficient dashboards to help pare down what currently takes you hours into something that takes only minutes a month. Yes, minutes.
Difficult to Purchase
Many local gift certificate or check programs must be purchased at the chamber. This inconvenience means you will never get the business of the last-minute buyer. Gift cards are convenient. If you make them available only at your office during regular business hours, you’ve just alienated a whole group of purchasers. Look for systems that allow you to purchase online 24 hours a day, seven days a week, and receive the gift certificates immediately via email.
If you’ve been considering a change in your local currency program, the advances in technology and software on the market are worth checking out. There’s no reason this benefit should take up huge amounts of your most valuable resource – your time.