The Powell River Money Society is a member of the Powell River Chamber of Commerce
PR Chamber logo
The Chamber accepts PR$ at their regular lunch meetings.

How to use PR$ to Benefit your Business

1. Attract new customers

People with PR$ in their pockets are actively looking for places to spend them. While we list your business in our online directory page and on the printed list we give everyone who buys PR$, you can also do more yourself to target those people and attract them to your business:

  • Use the “We welcome PR$” door decal and tent cards we supply to remind passers-by that you accept PR$
  • Use the “we welcome PR$” graphic in your online and print advertising
  • Post on Facebook, Twitter or other social networks that you accept PR$
  • When you donate PR$ to a non-profit, ask them to let their members and supporters know that you’ve done so
  • Include PR$ in special event displays

2. Encourage “lookers” to buy, and buyers to spend more

  • Use the tent cards by the till and on displays
  • When talking to potential customers, let them know you take PR$
  • Iincude PR$ information on your service list or restaurant menu
  • Include PR$ in your window displays

3. Set your everyday rates to attract more business

  • Consider that focused, larger PR$ percentages are more attractive to potential customer than a lower PR$ rate across the board
  • Look for “underused assets” in your business that you can use PR$ to get better use from: empty restaurant tables or theatre seats are a good example. This article is a very good explanation of how this can work
    The short version is: offer a great PR$ rate during slow times to bring people in the door, or on slow-moving products to get them out the door
  • Set your PR$ rate to cover your direct CN$ costs, but not necessarily overhead, on the assumption that a new PR$ customer is extra income over and above what would have been earned that day
  • Consider your “lifetime customer value”: how much is a new customer worth to you?

4. Offer “Specials”

  • Offer regular “super deals” for PR$ buyers
  • Offer a temporary high PR$ rate at a specific time
  • Offer a temporary high PR$ rate on a specific product
  • Offer a special deal which is only available to PR$ buyers. This would also encourage more people to buy and use PR$
  • Let us know about your specials, and we’ll feature them in the newsletter