A Nonprofit’s Guide to Peer-to-Peer Success
Peer-to-peer fundraising is one of the best ways to raise money. The reason is simple: People like to support known causes that their friends and family already support. So if you haven’t had the chance to get your current donors involved in reaching out to people they know, now may be the time to start. Fundraising is about building relationships. And the reality is someone new to your cause will likely give if they know the asker.
Still not convinced? Well, let’s take a look at some of the facts about peer-to-peer fundraising that might change your mind.
Peer-to-Peer Fundraising By the Numbers
As Classy explains, peer-to-peer fundraising can transform your organization. In other words, it’s an opportunity to get new people involved with your organization. When you have passionate people who care about your work, who have nothing to gain, the message gets through louder.
Meaning, new donors like to hear from passionate people they know about organizations that they might want to get involved with.
Further, take a look at some of the numbers concerning peer-to-peer fundraising in an infographic from Classy called, “The Value of Peer-to-Peer Fundraising”:
- The average fundraiser raised $568 from seven donors.
- Between 2013 and 2014, social network fundraising grew by 70%.
- All generations respond to peer-to-peer fundraising. And it includes those over the age of 70.
- This kind of fundraising offers a year-round opportunity to raise money.
5 Strategies to Crush It With Peer-to-Peer Fundraising
As with anything else, you have to be smart about developing a peer-to-peer fundraising program. The following ideas will help ensure that your nonprofit achieves fundraising success.
1. Choose the right platform. The first place to start is by choosing the right peer-to-peer fundraising platform. Fortunately, there are a lot of good ones out there, so you have a lot of choices. One of the features you’ll want to ensure is ease of use for your supporters to create their fundraising pages.
You’ll also want to understand the fees each platform charges for gift processing. If you’re just getting started, take a look at sites, such as CrowdRise, FirstGiving or Fundly. However, there are several others on the market, so do your research and choose a platform that makes sense for your organization.
2. Provide all of the content and resources for peer-to-peer fundraising. Once you’ve selected your platform, it’s time to turn your thinking to the peer-to-peer fundraising plan. Remember, you’re going to ask your current supporters to raise money on your behalf, so remember that most people are not professional marketers or fundraisers. They need your support.
To be clear, they will need you to give them content. Consider creating content that is specific to why you need the funds. Think about creating email templates that will include links to personal fundraising pages.
Make sure to have high-quality pictures people can use. And definitely develop social networking posts that people can share as they promote their peer-to-peer fundraiser. Also add elements, such as funny GIFs, e-cards or videos.
3). Choose your goal wisely for your peer-to-peer event. Once you’re ready to get started on your event, think about your financial goal. You should give donors a goal to aim to achieve. So if you’re seeking to raise $5,000 for supplies or a pilot program, be clear about it. Then, once you’ve made that determination, reach out to loyal supporters.
Begin by thinking about how many people it will take to fundraise in order to achieve your goal. For instance, to raise $5,000, you can ask 10 people to raise $500. Each person can create their own fundraising page, and then ask people to contribute. Your champions should be happy and enthusiastic about supporting your cause.
4. Your circle will be the first to raise money for you. When you do this type of social networking event, you’ll always want to start with the people you know. As I mentioned earlier, recruit champions to lead the effort for you. But also realize that before you get the general public involved, you’ll want to make sure you’ve reached out to your entire database.
Rely on your champions, but also invite all of the people who support you to participate in your fundraiser. Give them a chance to donate and/or to fundraise for you. Also consider re-engaging people who might have become lapsed donors. There’s nothing better than re-engaging with people through a timely event.
5. It’s all about promotion. Finally, no peer-to-peer fundraising event can be successful without consistent marketing. Lots of times, nonprofits promote a few times and don’t have a constant marketing effort. Take the time to determine how many times you’ll post on social media. Think about what other methods can support your fundraising efforts.
As an example, you might want to send out a series of emails. Or you can invite your champions to a private event to get them pumped up before reaching out to a broader base and the public. Whatever it is, promote assertively, and do it with a plan.
Wayne Elsey is the founder and CEO of Elsey Enterprises. Among his various independent brands, he is also the founder and CEO of Funds2Orgs, a social enterprise that helps nonprofits, schools, churches, civic groups, individuals and others raise funds, while helping to support micro-enterprise (small business) opportunities in developing nations and the environment.
You can learn more about Wayne and obtain free resources, including his books on his blog, Not Your Father’s Charity.