Between 2012 and 2013 web sales rose 21% on Black Friday and 28% on Cyber Monday. On Giving Tuesday, over $10 million dollars in online donations were processed. DonorPerfect recorded a raise in online donations of 46%, and the average gift amount increased by 25%. So what does this say about the evolution of spending in the United States, and how you can capitalize on it for your university?
The message is clear. People spend (and give) more online than ever before. In the past few years, nonprofit sectors have seen double digit growth in online donations, and the trend will only continue. Sure, direct mail pulls the lion’s share of funds now, but you’re leaving money on the table if you’re not promoting online fundraising.
Alumni are becoming very comfortable with giving online. In fact, ages 18 to 64 are more likely to make their first donation online. Furthermore, in a study of millennials ages 20 to 35, 70% made their first donation online, and the majority prefer to make subsequent donations online as well.
Plus, the average gift of those that elect to give online far exceeds those that give only offline. Think of it in terms of how you use your credit card. Psychologically, people are more likely to spend if they are not handing over cash, or writing a check. In fact, a study conducted by MIT found that individuals will spend up to 100% more with a credit card.
If your university doesn’t have an online giving portal that is engaging, easy to find, and easy to use, you could be missing out on millions of dollars a year. If you’d like to learn how to improve your university’s rapport with alumni, while simultaneously meeting and exceeding your fundraising goals through online donations, give us a call at (203)-253-5860, or schedule a demo today!