Find The Best Fundraising Software
Randy Coddington – Head of Product at eTeamSponsor
Randy has been in the fundraising software industry for over 13 years. During this time he witnessed the inefficiencies of the traditional fundraising process and its adverse financial impact on athletic programs. These experiences lead Randy to create a fundraising solution leveraging the latest technology, which is now central to the eTeamSponsor process.
Read Time: 4 min
Software For Fundraising
eFFECTIVE Fundraising Platform
Are you looking for the best fundraising software for your organization? With so many options available in the market, it can be overwhelming to choose the right one. In this article Randy Coddington, Head of Product at eTeamSponsor – the leader in fundraising software for schools and teams – guides you through the process of finding the best software for your needs.
Table of Contents
1. Questions to Ask About Fundraising Software
At eTeamSponsor we’ve been helping schools fundraise for their sports teams and activities since 2010. Over this period of time we have realized that not all fundraising software is created equal. In fact there is actually quite a bit of difference from one company to the next. To figure out the right partner for your organization, ask them the following questions:
- How much money do they raise on average with schools like mine?
- How long does it take to receive funds from the fundraiser? This can range from every 30 days (the industry best practice) to 4-6 weeks AFTER a campaign is finished.
- What pricing model does the company use? Typically companies use either a revenue share or license fee model for their software (see below).
- Are there additional “hidden” fees for using the software? Some companies charge for credit card processing fees or have participation penalties (a penalty if student participation in the fundraiser falls below a certain level).
- Do you get a real-time performance dashboard before, during and after the campaign? Having access to a performance dashboard during all phases of the fundraiser is an industry best practice.
2. Identify Your Needs and Budget
The first step in finding the best fundraising software is to identify your organization’s needs and budget. Do you need a tool for managing donations, event planning, or volunteer management? How much money can you allocate to a fundraising software? Generally, there are two pricing models for fundraising software:
A revenue sharing model with no up-front cost. This is a low-risk option and great if your school or team has no budget for fundraising software or is unsure of how much they will raise. You won’t have to pay anything to use the software, instead the software company will deduct a fee from the funds raised typically 20-30% to cover their costs.
Another option is the License fee model. Here the fee is paid up-front and covers the cost of using the fundraising software. This is a great option for an organization that has a fundraising budget or those with a successful track record of raising money from students, parents, and alumni.
3. Research Your Options
Once you’ve identified your needs and budget, it’s time to research your options. Look for software that is user-friendly, integrates with your existing tools, and has good customer support. Read online reviews about the different options on the company website and third-party review sites like:
4. Check for Security and Compliance
Fundraising software deals with sensitive data, such as donors’ personal and financial information. Therefore, it’s crucial to choose software that is secure and compliant with regulations such as GDPR and PCI DSS. Look for software that uses encryption and has regular security audits.
5. Consider Scalability
As your organization grows, your fundraising software should be able to scale with it. Look for software that can handle a growing number of donors, events, and campaigns. Scalable software will save you time and money in the long run.
6. Ask for Demos and Trials
Before making a final decision, ask for demos and trials of the fundraising software. This will give you a chance to test the software and see how it fits with your organization’s needs. Make sure to involve your team in the demo and trial process to get their feedback.
Finding the best fundraising software requires careful consideration of your organization’s needs, budget, security and compliance, scalability, and integration. By following these steps, you can choose the right software that will help you raise more funds and achieve your goals.
If you would like to learn more about our fundraising software options, please fill out the form below to schedule a demonstration of our products!
You Might Also Like To Read: