Over the last 15 years Rapid Data, an Access company, (www.rapidata.co.uk) have been tracking regular giving trends and providing Direct Debit research data to the charity sector.
Today, we see the publication of ’15 Years Of Regular Giving Benchmarking’, a free resource available from Rapidata – download the report at: https://rapidataservices.com/direct-debit/research-charity-direct-debit-tracking-report-2019/
Comparison and self scrutiny
The report provides an insight into regular giving for charities and not for profit organisations. It provides charities’ with an opportunity for comparison and self scrutiny, supporting strategic planning and development. The report includes industry benchmarks to help organisations reduce cancellations and donor attrition.
Having faced highs and lows on a national and economic level, the storm of recession and recovery, ‘funding crisis’ of 2015/16, regulatory changes, GDPR and Brexit the report looks back at major events and offers findings.
How does your charity or not for profit compare against these benchmarks?
Five key findings
The report notes that Bacs’ Direct Debit remains a vital and trusted payment system in the UK and this is especially true for the charities and not for profit sectors – as Bacs’ former CEO I’d certainly agree with this claim!
But what are the key findings of the report?
Five key findings for charities and not for profits:
- an unintended GDPR effect with Direct Debit cancellation rates plummeting to just over 2%.
- a rally in the acquisition of regular givers.
- the re-emerging of Direct Debit cancellation rates of circa 2%.
- a benchmark for ‘no show’ payments – how do you rate against the suggested benchmark of 11.5%?
- the significant growth in online Direct Debits – up 55%!
Five key findings for you to benchmark your organisation against.
Plenty of room for growth
Pay.UK report that Bacs Direct Debit continues to see significant growth with 4.3 billion Direct Debits processed in 2018 – further reinforcing the importance of this payment method.
UK charities received over 108 million donations by Direct Debt in 2018 and was the fourth most popular method of giving at 33%:
- Cash: 53%
- Buying goods: 38%
- Raffle and lottery tickets: 37%
- Direct Debit: 33%
- Text messages: 7%
- Cheques: 5%
- Payroll giving: 2%
Although not covered in the report, with cash usage in decline charities and not for profit organisations need to urgently plan for the substitution of cash based donations to other payment methods and consider the role Direct Debit will have in this transition.
Find out more at http://www.cashlessuk.org
Download the report for free
The report is an excellent opportunity for UK charities and not for profit organisations to compare, scrutinise and improve their own performance – download today at: https://rapidataservices.com/direct-debit/research-charity-direct-debit-tracking-report-2019/