What Your Nonprofit Needs to Know About Credit Cards
Thriving in the nonprofit industry means thinking strategically to create the most impact. Nonprofit leaders are solving the world’s most critical problems on very tight timelines and with fewer resources than for profit businesses. Cash flow and having the money to fund your good work is a critical part of the equation and how that is managed can be the difference between serving your constituents or not. Getting up and running on a system that meets your needs is easy. We’ve put together a list of a few features specific to nonprofit needs that will help you use your point of sale system to run your organization more strategically and manage donors.
Many nonprofits rely on the revenue created by signature events. Having a point of sale system to process credit card payments that is flexible and reliable is crucial. Everything from annual galas to 10K races must be run smoothly in order to give your guests a positive experience. How you process ticket sales, donations and auction purchases will effect that experience. Having a point of sale system that is mobile so that you can take payments anywhere is a necessity that your nonprofit needs to have. At SilverEdge we recommend using a system like Clover that can be run from any mobile device or tablet. Purchases will run securely over wi-fi, but if connectivity goes down then the system will still run and smoothly process payments when you’re back on a network. So there’s never a hold up at registration or when checking out attendees at the end of an event.
Point of Sale as a Fundraising Tool
Cause marketing is hot for businesses of all types and sizes. A popular method of cause marketing is called the “point of purchase” donation. This is when the customer has the option to add on a donation or round up their bill to benefit a nonprofit organization. Clover has an app called Donate at Checkout that puts the power of these type of campaigns in the merchants’ hands and makes it incredibly simple to set up a campaign. The merchant chooses the nonprofit it would like its sales to benefit, the options that will be offered to customers at check out and can control the message in a marketing campaign. As a nonprofit yourself, this makes working with businesses simple because the function can also be turned on and off at anytime. Creating a campaign around a particular date or event that your nonprofit has is an excellent way to build relationships with businesses, spread your message to a new audience and raise money.
Accepting donations online is a fact of doing business in 2018. So when choosing a way to process online gifts, make sure that the platform you use works with your current credit card processor. Otherwise you will end up with multiple merchant accounts and varying costs which makes it difficult to budget.
Managing recurring donors, or what are often referred to as “Evergreen Donors” is made easy if you use credit cards to process gifts on a monthly basis. The average monthly online donation is $52.00 ($624.00 per year) compared to the average one-time gift of $128.00. So giving your donors a recurring option can significantly increase your revenue.
Here at SilverEdge we are ready to help you grow your business and are happy to help you to understand the marketing tools that our point of sale systems offer that can make spreading your mission and raising money easier. Contact your SilverEdge representative today for an appointment and we’ll help you make your business richer.