We all know sticking to self-improvement goals is really difficult and that failing to reach a goal is disappointing and discouraging. In fact, while 45% of people make resolutions, only 8% of people stick to them. It is no wonder that the self-help industry generated over $11 billion globally in 2013. Research shows that the chance of achieving a goal increases 33% if it is shared with others and by 72% if money is put on the line. Promise or Pay combines both of these approaches by enabling people to make a public promise to do something, and if they fail to follow through, pay a nominated amount of money to a charity.
Promise or Pay harnesses social media to make a goal public and thereby strengthen the intention of keeping it and integrates charitable giving to ensure a win-win outcome is always achieved and people are left feeling satisfied. Either you keep your promise thereby benefiting yourself, or you contribute towards solving a pressing social problem via your donation.