Your church or nonprofit ministry is struggling to raise funds. You're not super tech savvy and want to do more with digital giving, (which includes online and mobile app giving), but don't know where to start. After doing some cursory research, you see a few companies promising a guarantee that your total giving will increase if you use their product. Sounds enticing right? Who would pass on a guaranteed increase in funds?
The truth is simple: a 2018 study of online giving for churches and nonprofits showed this: "churches that accept tithing online increase overall donations by 32%."
Don't miss that! just by accepting tithes digitally, you automatically stand to increase giving by 32%—regardless of the giving platform.
Further, this same study showed that the large majority of people (60%) are willing to give online.
If you've been looking to expand your online giving options, now is the time! Technology has changed the way people interact with businesses—churches & nonprofits included.
By making the move to accept digital giving or adding a mobile giving app, you are able to allow the people in your organization to give using the technology they already use every single day. The simple reality is that people are more likely to give to your church if you provide a digital giving option!
Let's make these numbers a little more real. Consider a small church that brings in $150,000 in annual donations. A 32% increase would bring in an additional $48,000 each year!
If you're a larger church without any digital giving that brings in $750,000, you would potentially increase your annual giving by $240,000 simply by starting to accept online digital giving.
(Your actual experience may vary, depending on how intentional you are in promoting your new digital giving strategy, along with several other factors.)
You've seen the stats and have been convinced that digital giving is a must have for your ministry, Keep reading to discover some key things to look for before buying into a guarantee claim.
People love a guarantee, because it feels safe, but don't be lulled into a false sense of security without finding out more details.
Companies will make guarantees because they've run the math, and they know the reward of gaining a new customer is significantly greater than the risk of not living up to the guarantee. They win, even if it's not in your best interest.
Here are some things to look out for:
Rather than offer you a guarantee with a bunch of requirements, fine print, and hoops to jump through, we believe in transparency. As you work with My Well, we'll always provide you with the information and tools to successfully navigate the world of online giving.
Our promise to you
Rather than follow the traditional business model of seeing churches and faith based nonprofits as just another market to profit from, we believe that business leaders can change the status quo by offering their services to nonprofits either at cost or for free. We believe this is possible by leveraging the profits from other markets to fund ministry work.
As we educate and encourage transparency, we hope to inspire other companies to follow our model.
And we think that is much better than a guarantee with strings attached.