Attending the 2018 NTEN Conference but need a little financial help? Thrilled to see my old agency is the scholarship sponsor. Way to go MWD!
I enjoyed attending the 11th Annual Bridge to Integrated Marketing & Fundraising Conference last month. While there I had a chance to discuss CharitySprout with a number of nonprofits, and many were surprised to learn that rounding-up has been around for a while. So here is your short history in five paragraphs!
Banks have been offering round-up for decades. Bank of America was one of the firsts to offer “automatic savings” through its Keep the Change program. When you enrolled your Bank of America debit card, BofA automatically rounds-up your purchase to the next dollar and transfer the difference to your BofA savings account. Let’s face it though, savings accounts don’t really earn any interest to speak of and … some banks not-to-be-named have a reputation of opening accounts for their customers without even their knowledge!
Rounding-Up also made its emergence for building retirement savings. Among the most well know is Acorns, which is an app that rounds-up every purchase you make to the nearest dollar and invests the difference. Acorns helps its users find stock market based investments through the app, and charges a small monthly fee. Newsflash, even in a booming stock market, your nickels, dimes and quarters won’t propel you into a luxurious retirement.
Surely, there is a better use for all those nickels, dimes and quarters from rounding-up.
It was only a matter of time before rounding-up would make a debut for charitable giving. We are thrilled that CharitySprout is on the forefront of leveraging this technology for nonprofits across the country. Although supermarket chains, restaurants, and even rideshare services have rolled out round-up giving programs to engage their customers for charitable giving … these programs have their downsides. Namely, the nonprofit doesn’t own the donor relationship and, these programs only capture a fraction of the charitable giving potential of rounding-up. We’ve solved this by putting our client nonprofits at the center of the donor relationship and also building a tool that allows donors to round-up every single transaction.
During a time when nonprofits are struggling to retain current donors and acquire new ones, we are excited to be building a new fundraising channel to support charitable giving. Contact me at firstname.lastname@example.org if you are interested in learning how our tools can help your nonprofit.
By Daniel S. Doyle
We are thrilled here at CharitySprout by the incredible response we’ve received since announcing our new venture. Thanks to all who reached out to us!
Our goal with CharitySprout is to help people live their life and do good … at the same time. We strive to help organizations connect to the growing mobile generation.
And we’ve got a couple thoughts to share about fundraising with this mobile generation.
Connecting with the mobile generation
A lot of research has been done the past few years about the impact mobile is having on fundraising. The CharitySprout team has spent a lot of time trying to better understand “the mobile effect” and how it plays in the fundraising process. It’s clearly more than just a “channel” or a “market” – it’s now a full-fledged cultural, social and lifestyle phenomenon, driven by Millennials who have grown up using mobile devices of all kinds.
For many in this generation, constant connectedness is a normal part of their lives. This generation is also very aware of what people in their digital circles are doing in real-time, whether it’s eating out, traveling, attending a concert, shopping – or supporting their favorite cause.
At CharitySprout we think it’s important to understand and tap into this mobile generation and develop tools that fit their lifestyle and mobile habits. It comes as little surprise to us that Millennials expect to connect with nonprofits on mobile, and do nearly all their giving online and through mobile.
Rethinking mobile fundraising
Blackbaud’s Annual Charitable Giving Report notes that nearly 17 percent of online donations were made on a mobile device in 2016. The two main ways this happens is that people either tap a link in an email they’re reading on their mobile device, or they see a fundraising campaign on a social channel such as Facebook or SnapChat, or a website or App.
As mobile has become the primary tool for reading email, browsing the web, checking social channels, or using Apps, we believe it’s primed and ready for a new wave of fundraising. Fundraising platforms such as Indiegogo, Google One Today, and Facebook Giving have clearly demonstrated the viability of Apps to raise money for charities.
Mobile as a new donor cultivation channel
We like to say “Welcome to your new fundraising channel” at CharitySprout, but we’re also excited to welcome you to a new donor “cultivation channel” which can break free from the sole reliance on email messaging. Using our mobile platform provides a fundraiser with three integrated cultivation opportunities; in app notification, email messaging, and text messaging. And with our round-up giving approach, contributions are made on a “continuous sustainer” basis – so, we will be focusing a lot of our time and attention to stewarding and cultivating this new donor category. It will be exciting to shift from constantly creating needs-based offers to inventing new ways to thank, reward, and connect a donor to outcomes made possible through their ongoing support.
We believe it’s time for App-based fundraising and cultivation to take their rightful place in helping build relationship between nonprofits and their donors. We know CharitySprout can play a critical role in moving that goal forward and invite you to contact us for a presentation about our upcoming fall product release.
CharitySprout helps people live their life and do good … at the same time. Our mobile app is branded to your organization and delivers a suite of fundraising tools based on rounding-up purchases and donating that spare change to your nonprofit. During a time when nonprofits are struggling to retain current donors and acquire new ones, we hope to build a new fundraising channel to support charitable cause. Visit us at www.charitysprout.us to learn more.
By Daniel S. Doyle
I’m excited to announce my newest venture … CharitySprout … a mobile app, branded to your organization, that delivers a suite of fundraising tools based on rounding-up purchases to the nearest dollar and donating that spare change to your nonprofit.
Think of it as your new fundraising channel.
Most donors know that every little bit helps. But donors are busier than ever, and sometimes just finding time to donate can be difficult. With CharitySprout we have fixed all that by creating an easy way donors can make a big difference by just going about their daily life.
How CharitySprout Works
It’s quite simple. Every time a donor uses a linked card/account, we automatically round-up their purchase to the nearest dollar, and that spare change is donated to their favorite charity. But there's more ...
Initially we will offer three ways for donors to engage:
And we have plans for a Campaign tool, which nonprofits can use to promote a special appeal, and a Crowdfunding tool to maximize campaigns through social networks.
What We Hope to Achieve
We are building this integrated mobile app and website so donors can get excited about connecting their every-day activities to charitable giving. And during a time when nonprofits are struggling to retain current donors and acquire new ones, we hope you will be excited about a new fundraising channel for your important cause.
If you consider the average round-up from credit/debit cards is $0.52, and people use their cards an average of 21 times a month, the potential round-up giving for a CharitySprout donor is $132 a year. And because the program is based on banking transactions pre-authorize by donors, you will enjoy retention rates like a monthly sustainer.
We are confident we can help you grow a new and increasing source of income since we are on the leading edge of two important trends: the mobilization of commerce and the growth in younger generations.
How You Can Learn More
Even though CharitySprout isn’t launching until this Fall, we are preenrolling charter nonprofit partners who want to get involved at the ground floor. We’re looking for a variety of nonprofit sectors, and programs large and small, to join our venture – especially those interested in new fundraising opportunities.
You can reach me at email@example.com if you want to learn more or schedule a presentation. And you can visit www.charitysprout.us to learn more about the fundraising potential of this new channel.
P.S. I’ll be at the DMAW Bridge Conference this August, and hope to connect with you then to explore collaborations.