Step 1 – Better manage inactive accounts
Change the terms and conditions so that if accounts are not accessed yearly then they are suspended. Accounts over the DEBIT limit will also be suspended. Drawing a line in the sand encourages an active membership.
Step 2 – Create truly local exchange groups located by suburb
Local area coordinators are to be based around suburbs, these groups are to be fully autonomous.
Encourage them to organise local meetings, even if it is just a coffee in a local coffee shop.
Create local marketing opportunities by holding trading days at local markets, sharing a stall, and encouraging people to join the exchange. Pay for the stall by selling goods for $’s.
Step 3 – Provide an incentive for recruitment
New account holders need to be introduced by an existing member. Reward this behaviour by crediting the referring account with 20 units for example. Encourage local area coordinators to hold new member meetings.
Step 4 – Pay your volunteers
Pay people to perform tasks for the organisation. The admin account has an unlimited amount of credits as it is an issuer of the currency. Do it wisely with measurable outcomes.
Step 5 – Introduce an annual renewal process
For example.
Introduce a 20 unit annual fee on all active accounts.
Introduce a $20 voluntary annual fee – Give a 20 unit credit to the account holder.
Send out an annual statement via snail mail, with a renewal letter requesting the $20 fee and as a notification of the 20 unit Debit.
The exchange needs active members an annual reminder letter will help.
Step 6 – Create a marketing plan
Use social media, local advertising, letter-box drops, and spend $’s if you need to.
Step 7 – Partnerships
Seek out alliances with other groups – co-advertise each other’s events.
Step 8 – Governance
A committee? Decide on the roles of the committee.
What about sub-committees?
How will you communicate?
How often will you communicate?
What about democratic models with your members?
