Round up apps are a progressive solution that puts loose ‘back-of-the-sofa’ change to good use.
The user links mobile technology to their bank account and sets their own rules for every transaction. For example, any purchase up to $10 is rounded up to the nearest dollar.
The round up amount is then taken out of the bank account and deposited in a third-party account for the user to draw on as and when they wish. Donating to charity is fast becoming one of those options.
While round up apps can function in a variety of ways, utilising developments in technology is something charities should be taking advantage of to enhance fundraising results.
For a modern-day twist on the traditional donation tin or door-knocking collection, here are some benefits of utilising round up apps in your fundraising strategy.
People have a way to give at their fingertips (literally)
The initial work lies in getting donors to sign up for the service. After that, every time they swipe their credit or debit card for a transaction, the app will round up the change and send it to the charity, usually transferring the amount at the end of the month.
The average amount from donors using the service is between $20 to $30 per month, certainly building up to a substantial amount if you have lots of donors signed up.
Donors don’t miss loose change
If you ask for a one-off $30 donation, people may think twice, but when it’s spread over a month with 10c here, and 40c there rounded up from a transaction then it’s unlikely to be missed.
Each time that little bit goes into their round up account, the donor can feel that they are making a difference, without it costing them too much.
Empowers donors to give on-the-go
People don’t always have the time to sit down and decide which charities they are going to support or exactly how much they’re going to give each month. Often, the triggers come from something they’ve seen on TV or on social media. Using the app enables donors to give on-the-go and respond directly to your campaign before they’ve had too much chance to re-think their decision.
The beauty of the system is that the companies developing and serving these apps are very security-conscious and won’t hold credit card details – often passing the amounts directly to your nominated payment gateway which will hold the amount until you transfer it to your bank account.
A read-only transaction history is usually available and with no credit card or bank details stored on the system, private information remains private putting donors at ease!
Access to donor data
Remember the coin boxes on counters? You had no idea who was putting in regularly and no way to thank them personally which is an essential element of donor stewardship. With thanks to digital solutions you can now engage with your donors as you have their contact details, and for a small fee the platforms will take care of everything.
Check with the company you decide to use whether you can get a list of donors and their contact details so you can thank them and email them tax-deduction receipts if necessary. Data protection may restrict this, but if you can access their details to thank donors, you should.
Remember how much work it is to place donation tins in businesses and arrange for collection, counting and banking of coins? Replace that volume of resource with the click of a button.
A word of caution…
There’s plenty of competition out there with quality of features and service varying across the board. Thoroughly research all options before rushing into an agreement paying particular attention to security and privacy and platform fees.
To find out more about utilising round up apps in your fundraising strategy, contact SupporterHub today.