Peer-to-peer fundraising has become one of the most effective strategies for nonprofits to meet their financial campaign goals.
Peer-to-peer fundraising is also often referred to as social fundraising and leverages your organization’s supporters to raise financial resources on your nonprofits behalf. Peer-to-peer continues to rise as a popular fundraising strategy and nearly 1/3 of all online donations are now made through P2P. Another interesting fact about peer-to-peer fundraising is the strategy has been shown to appeal across generations. The data provide by Nonprofit Tech for Good can be seen below:
Receptiveness to Peer-to-Peer Fundraising (source)
Generation X: 87%
Baby Boomers: 77%
Mature Generation: 63%
As you can see from the data above running strategic peer-to-peer fundraising campaigns has the ability to successfully reach and convert prospects from almost all age demographics. P2P campaigns are also run by your nonprofit’s supporters meaning that much of the legwork is controlled by outside sources and their internal networks. This benefit offers an organization the ability to free up time restraints often invested in managing campaign success. So, how can your nonprofit create a successful peer-to-peer initiative that supplements your organization’s fundraising efforts? Today, we will explore five tips and tricks your nonprofit can leverage to get the best results.
Peer-to-Peer Fundraising Tip #1: Provide Fundraisers a Direction and Process
Even though peer-to-peer fundraising is run by your nonprofit’s supporters it is always ideal to have a process in place for anyone representing your organizations brand.
Providing your supporters with guidelines and a process will also help them to learn the ins and outs of fundraising and incorporate best practices to achieve better results. Here are a few ways that you can provide a clear direction and process for your P2P fundraisers:
- Provide fundraisers with a tip sheet based on past p2p experiences (survey previous participants and learn success elements and pitfalls).
- Offer content templates for social media posts and emails.
- Develop a reputation management process and provide support in the event of a fire.
- Provide P2P fundraisers with informal information sessions to address questions or concerns.
- Provide P2P fundraisers with a sense of direction (who should they target, how, and why).
- Provide P2P fundraisers with encouragement and praise for their assistance towards your nonprofit’s mission and goals.
Did you know: The average peer-to-peer fundraiser raises $568.00
Peer-to-Peer Fundraising Tip #2: Make Your Supporters Involvement Fun!
Making peer-to-peer fundraising fun for your nonprofit fundraisers is one of the most important steps your organization can take towards campaign success. Most people enjoy a sense of friendly competition and incorporating a rewards system for P2P participants can enhance outcomes and keep fundraisers focused on achieving their goals.
Setting up a rewards system for fundraisers doesn’t have to be challenging. Here are a few ways to accomplish the goal:
- Provide fundraisers with branded products (t-shirts, keychains, coffee cups) just for participating in a P2P initiative (instant gratification).
- Create an incentive program and provide prizes based on funds raised and prospects engaged.
- Create club levels based on supporter success (everyone wants gold status).
- Provide fundraisers with rewards for reaching achievements.
- Automatically enter P2P fundraisers into a raffle when they reached specific goals.
- Recognize your participants and their efforts often and across multiple mediums.
Peer-to-Peer Fundraising Tip #3: Give Supporters Access to a Customized Landing Page
One way to make the fundraising process easier for your supporters is to create a branded landing page to use in their efforts. Taking this action will allow your fundraisers to point prospects towards their page and make the act of giving streamlined.
Your nonprofit may want to invest some resources in fundraising software that offers peer-to-peer features to make this task achievable.
Some peer-to-peer fundraising software can also:
- Help participants measure their fundraising progress
- Provide email tools to improve reach and conversion rates
- Allow fundraisers to share their progress with their network
- Provide insights on how campaigns can be improved and optimized
Peer-to-Peer Fundraising Tip #4: Leverage Your Volunteer Network
Volunteers have seen your nonprofits mission in action and many of them also donate their financial resources to your organization’s cause. On average, two-thirds of volunteers also donate monetarily to the same organization. The data emphasize’s that volunteers want to provide both time and financial resources to help your nonprofit reach its goals and fulfill its mission. They are brand champions. It is important that your organization leverage their will to assist as much as possible. Many volunteers would make great P2P fundraising candidates.
Peer-to-Peer Fundraising Tip #5: Communicate with Fundraisers Often
Communication is definitely key when it comes to supporting your supporters. A recent study found that 18% of donors leave an organization due to lack of communication. The same can be said for supporters involved in P2P campaigns. Your nonprofit cannot afford to lose your key supporters because of lack of communication. Here are a few ways that your nonprofit can keep P2P fundraisers in the know:
- Check in with peer-to-peer fundraisers often using their favorite communication medium.
- Ask peer-to-peer participants if they need additional support to achieve goals.
- Ask P2P fundraisers for feedback regarding their experience and support.
- Connect with P2P fundraisers on social channels and ask them to share their experience online.
- Provide P2P participants several ways to contact support staff.
Peer-to-peer fundraising can be one of the most effective ways to leverage your current supporter’s network and find new prospects. In order to yield that best results, it is crucial to provide fundraisers with direction and purpose, make involvement fun for supporters, create unique landing pages for campaign participants, find new prospects using your volunteer base and communicate often.