Will Adding ACH as the Preferred Method of Payment Decrease Donor Conversion?
Experiment ID: #189997
NextAfter
Experiment Summary
Timeframe: 08/27/2024 - 09/23/2024
An organization worked on identifying ways to retain their monthly partners long-term. Because bank account information vs. debit/credit card information tends to change or expire less often than credit cards, will we retain our donors longer? Simultaneously, we also need to see if showing ACH as the preferred method of payment on the monthly giving page hurts our current donor conversion.
Research Question
We believe that by showing ACH as the preferred of payment for donors coming the monthly giving page will achieve longer donor retention in the long run because banking information expires with less frequency over credits cards. An added benefit is the reduction in credit card processing fees as well.
Design
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)
)
)
Results
| Treatment Name | Conv. Rate | Relative Difference | Confidence | Average Gift | |
|---|---|---|---|---|---|
| C: | Control | 11.0% | $50.67 | ||
| T1: | Variation 1 | 10.3% | -6.2% | 20.2% | $90.19 |
This experiment has a required sample size of 15,647 in order to be valid. Unfortunately, the required sample size was not met and a level of confidence above 95% was not met so the experiment results are not valid.
Key Learnings
The key learnings from this experiment are that showing ACH as the preferred method of payment on the monthly giving page resulted in a 6.2% decrease in Transactions for All Traffic. However, the statistical level of confidence was only 20.2%, which is below the 85% threshold for validity. This shows us an important finding. Including ACH as the preferred method of payment on the monthly donation page DOES NOT hurt donor conversion and can be considered for monthly giving pages as the preferred method of payment as it will help retain monthly partners longer.