Cost effectiveness of contactless giving examined in white paper

first_img Tagged with: contactless “I have no doubt that this paper will help to clear some of the confusion around contactless; helping fundraisers make more effective decisions and enabling them to address the rapidly evolving contactless landscape with greater confidence.”Digital copies of the full report are available by emailing [email protected]  389 total views,  2 views today UK contactless technology provider GoodBox has published a white paper giving an insight into the effectiveness of contactless fundraising, based on the experiences of its charity clients.Contactless Technology: Worth the Investment? was launched at Fundraising Convention on Tuesday 2 July, and is the first in a two-part series supported by the IoF.GoodBox both rents and sells contactless hardware, as well as delivering purpose-built solutions for spaces with heavy footfall such as museums, art galleries, places of worship and hospitals.It analysed its client performance under several different metrics; including purchased, rented and purpose-built devices, and found that in less than a year purchased devices produced an overall ROI of 340% for its clients, while rentals have produced an overall ROI of 212%, and purpose-built devices 1,384%.Looking at its charity clients’ experiences with purchased devices, it found that in total, the 25 organisations in the study that had bought devices spent £69,035 on the upfront cost of contactless technology with the technology yielding £303,967 in returns so far to give the ROI of 340%.84% of these organisations saw a full return on investment within 12 months. GoodBox estimates that they will have made a return on their investment of 2,485% within five years – the expected lifespan of a GoodBox device.The 35 organisations in the study that rented GoodBox devices raised a total of £53,849, having spent £17,225 on the cost of renting hardware – a total of 212% return on investment. Renting for a week is roughly one tenth the price of buying a device outright, according to GoodBox’s figures, which also show higher levels of profitability for devices rented over a shorter period of time, due to the devices being used for targeted events.Andrew O’Brien, CEO GoodBox commented:“GoodBox is founded on the belief that in order to prosper, charities must have equal access to cutting-edge technologies. However, for charities to put their trust in innovation, is it essential that we increase access to relevant data. This white paper provides ground-breaking and honest insight into the effectiveness of contactless fundraising. I hope that it will enable more charities to thrive in an increasingly cashless society, and to do so with confidence. I am very grateful to the IoF for their support in the creation of this work; a report which I believe will meaningfully contribute to shaping the future of giving.”Adam Bryan, Director of Partnerships and Innovation, Institute of Fundraising added: Advertisement Melanie May | 3 July 2019 | News  390 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis28center_img About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Cost effectiveness of contactless giving examined in white paper AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis28last_img

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