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What is peer-to-peer fundraising?
You give $30. Your friend gives $70, and she, in turn, recruits two donors who give $40 each. There are now four donors, and the organization has more than $150.That’s a lot more than each individual donor would make alone and a lot more impactful than each gift alone. The obvious benefit is an increased volume of donations. many of these donors are likely to be first-time donors due to your fundraisers reaching outside your existing network. Peer-to-peer can be useful to hit short-term goals, but its real value is in its ability to help you gather information on hundreds of people outside your immediate network. A peer-to-peer fundraising model relies on individuals (aka personal fundraisers) combining their smaller gifts to make a big difference for a cause.
Using this fundraising technique is a good way for nonprofits to raise money, build awareness, engage supporters, and attract new donors. When you facilitate the peer-to-peer online campaign with fun, event-based campaigns, you can create a whole new level of engagement with your community.
It’s useful to look at what other organizations do to gather their supporters, whether you’re a peer-to-peer pro or just starting out.
Check out these 6 tips to help you create a successful and creative peer-to-peer fundraising event.
1.Create a campaign that will meet your goal.
First, you’ll need to choose what type of peer-to-peer campaign your organization wants to host. Running a campaign without considering your nonprofit’s goals can be an expensive and time-consuming ordeal. By sitting down to think about what you want the outcome of this endeavor to be, it will go much more smoothly for everyone involved as well as help ensure that you have a successful fundraiser.
think about your nonprofit’s goals before organizing a campaign. Remember that different types of campaigns may be better suited to different goals.
here are three main types of peer-to-peer campaigns:
Time-Based. A time-based campaign unfolds within a set period of time — typically a few weeks (although some can go on for a year). This type of campaign is often paired with a big event at the end.
Rolling. Rolling campaigns do not unfold within a set time frame, meaning your organization can have as long as it needs to meet its monetary goals. But it also means you’ll need to make sure your campaign doesn’t lose momentum and sputter out.
Giving Days. Giving days are perfect for organizations that love a challenge. With a giving day, your organization sets a monetary goal that it tries to achieve in twenty-four hours. This type of campaign also is a perfect opportunity to use social media to spread the word
Think about your goals when choosing the type of campaign that should work best for your organization.
Choose a peer-to-peer fundraising software.
Selecting the right peer-to-peer software for a nonprofit is a huge decision, as you need to find the solution that fits your needs as well as your budget. consider using peer-to-peer fundraising software that lets people donate easily and securely online from their personal computer or mobile device without too much prompting for personal details. Peer-to-peer fundraising platforms can make or break a campaign with its marketing and donation features, so choosing the right provider shouldn’t be taken lightly. Look carefully at your fund-raising needs and compile features “wish list” so you know exactly what you need. choose optimization instead of fancy, choose easy customization, abilities to share easily on social media, fundraising thermometers, useful tools like leaderboards, fundraising badges, easy technical support, etc. Make sure you involve your staff and board in the decision. Your staff will need to use the software, and your board needs to approve the budget. Input from them can help you make the right decision. People are more comfortable donating with this type of system because they do not have to go through an extensive registration process in order to make a donation and there’s no minimum contribution level needed either!
Promote your cause by recruiting supporters.
Now that you’ve decided on the type of campaign you’re going to conduct and selected reliable software, it’s time to recruit your supporters! Your supporters can be volunteers, board members, you can also try to make some close friends and family members who are passionate about your cause. One of the ways i conducted my peer to peer fundraising is to raise social media angels, my social media followers, i asked them to help in sharing our campaigns on their page this help to recruit more volunteers, I also list partner with local businesses who I asked to use their pages for social media take over, this help in spreading the campaign far and reaching more people. Most churches nowadays have more of their congregation online. It will be interesting to talk to them to help spread your campaign on their website or social media to get more awareness and engagement. This might help reach more people who might be willing to give, and who are eager to spread the word.
Encourage your supporters.
Providing your supporters with the resources they need to maximize their efforts, engage other advocates, and become effective advocates for your cause is your next (and most important) step in creating a peer-to-peer campaign.
Here’s what they’ll need:
In-person coaching meetings
Social media templates
Online training and support
Even though you may not be doing the fundraising yourself, you should be available to them whenever they have a question or require further assistance. make sure all the details are clear – make sure the why, how, what, and when are easy to find in all your communications. This is sometimes overlooked! As soon as your event is set up and running, you should turn your attention to motivating your supporters during and even after the event for the duration of your peer-to-peer fundraising event. Schedule communications based on your participants’ progress and set them to send automatically.
5 Tell your story.