Fees drive up expense ratios
The various platform transaction fees in peer to peer software significantly eat into the dollars raised in fundraising campaigns. First of all handing over 5%-10% of your donations to a software vendor makes it impossible to maintain desired expense ratios. Also throw in credit card fees, marketing, event expenses, staffing, etc. and you have a campaign that can’t keep expenses in the 15% or less range.
Ask your donors to help eliminate pesky credit card fees. Give donors the opportunity to add the transaction costs to their donation. In this donation form, a donor can click “Yes, I would like 100% of this transaction to go to Cupid’s and will add 2.75% for card processing costs.” Their donation total updates to include the credit card fees.
Data shows that donors opt in to eliminate credit card costs
In our SWEET! Peer to Peer platforms, 66% of donors use the credit card opt in feature. We are amazed by the frequency of giving. But it makes complete sense when you consider the nature of peer to peer giving. The donor gives to their friends and family. Hence more likely to use a opt-in feature to add a few more dollars to their donation.
At Blue Sky Collaborative our goal is to help you maximize the benefits of online peer-to-peer fundraising to achieve your mission. To learn more about our SWEET! platform and how we can help, visit our website www.blueskycollaborative.com or call us at (p) 800-330-4109 ext. 803.