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Peer-to-peer fundraising is also often referred to as social fundraising and leverages your organization’s supporters to raise financial resources on your nonprofit's 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 provided by Nonprofit Tech for Good can be seen below:
Millennials: 87%
Generation X: 87%
Baby Boomers: 77%
Mature Generation: 63%
As you can see from the data above running strategic peer-to-peer fundraising campaigns can 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.
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 organization's brand.
Providing your supporters with guidelines and a process will also help them 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:
Making peer-to-peer fundraising fun for your nonprofit fundraisers is one of the most important steps your organization can take toward 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:
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 toward 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:
Volunteers have seen your nonprofit's 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 emphasizes 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. Your organization must leverage its will to assist as much as possible. Many volunteers would make great P2P fundraising candidates.
Communication is key when it comes to supporting your supporters. A recent study found that 18% of donors leave an organization due to a 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 a lack of communication. Here are a few ways that your nonprofit can keep P2P fundraisers in the know:
Peer-to-peer fundraising can be one of the most effective ways to leverage your current supporter’s network and find new prospects. To yield the 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.
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