About 8 years ago while boarding a flight from Oklahoma City to Tucson I found myself standing next to an Executive Vice President from Sonic, the drive-in fast food company. Knowing that Sonic was among the first fast food outlets to test using credit cards I took the opportunity to ask how that had worked in a notoriously profit thin industry.
Smiling, he said. ”Our average ticket went from a little less than $3.00 per ticket to almost $8.00 per ticket!”
Remarkable evidence of 2 key points:
- More and more people are carrying less and less cash
- A striking example of the business axiom: Make it easy for your customers to give you money!
What does this have to do with Why Nonprofits being Square?
Square is a postage stamp sized adaptor that plugs into a smart phone and allows you to accept credit card payments on the spot!
I saw this nifty little device in action recently in a local park. The Lupus Foundation of Southern Arizona was holding their annual “Loop the Loop for Lupus” walk and selling raffle tickets for a new car. The car raffle tickets cost was $25 each. More cash than many people carry - especially at a walk!
More than 75% of the raffle tickets sold was via credit card avoiding lost sales because of a lack of cash. Now with the swipe of a credit card, approval code, an approval signature written by finger tip, and a receipt sent to the buyer’s smart phone - all at internet speed.
While visiting www.square.com I learned that simply by signing up Square will send you the postage stamp sized card scanner AND the software application all absolutely free. The cost per transaction is nominal considering the portability and the opportunity to increase ticket/event sales in remote locations.
Nonprofit organizations be Square(or something like it) and make it easy for your donors to give you money!
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