Peer to peer fundraising is an excellent way to raise funds for your organization using the social networks of the people who are already supporting your organization. When you decide to do a peer-to-peer fundraiser, such as a crowdfunding campaign, you’ll reach out to your supporters and then ask them to reach out to the people they know before you go public.
Why does peer to peer fundraising work?
The reason it works is simple. People give to people, and they especially give to people they know. So, when one of your supporters asks a member of their family or a friend to support your fundraiser, they are more likely to secure a gift than if you had approached the same person.
Here are a few excellent facts about peer-to-peer fundraising according to MobileCause.
- $66 is the average gift from a peer-to-peer fundraiser, which is likely more substantial than average gifts at many nonprofits.
- 8 donors will give toward a request for a donation from someone they know.
- 62 percent of the people who give to a crowdfunding event are new to the cause.
What are the easiest tips you can follow to ensure a successful peer to peer fundraiser?
- Select the best peer to peer platform. Depending on your fundraising goals, select a peer to peer platform that will make sense for your group. When you’re evaluating technology, you’ll want to look at tools that have ease of use, flexibility and excellent security. Some of the best platforms to look at include OneCause, Fundly, and Salsa. A few of the known crowdfunding sites include Indiegogo, Kickstarter, FirstGiving, and CrowdRise. When you’re evaluating all of your options, don’t forget to understand transaction costs and fees.
- Start with your own circle first. Once you’re ready to begin your peer to peer fundraiser, remind yourself that you want to begin with your own sphere of influence first. Yes, you will want to get new donors on board, but many will come from the people who are already your supporters. Get your current champions excited about the peer to peer fundraiser and make sure that if they will be creating peer to peer fundraising pages on whatever platform you select, that they know how to do it. If you’re doing a crowdfunding campaign, make sure they know the URL that is being used.
- It’s all about the goal. It should go without saying, but we’ll say it anyway. Create a financial goal for yourself and every person, including your supporters, that will be fundraising on your behalf should have a fundraising goal. You can tell your champions to assume a goal, which is always best, but if you prefer, you can also make a couple of assumptions about what most people will be able to raise on your behalf. Provide yourself and your volunteers with a realistic goal that they can achieve. The more people you recruit will only make volunteer goals lower, which will help you attract more volunteers. Once your peer-to-peer fundraiser starts support all of your fundraisers possible in achieving their goals.
- Get creative on content. Fundraising content must include great and compelling content. Create fun videos (or encourage your supporters to do them in promoting their fundraising efforts for your cause). Fun is the operative word, even if your cause is serious. There’s so much negativity out there that the best performing content which is shared the most is that which is humorous and fun. Get creative and provide your volunteer fundraisers, GIFS, e-cards and posts, videos and photography to capture the visual attention of the target audiences.
- Promote, promote and promote. Your peer to peer fundraiser will be successful if you do everything to get the word out there. Create a realistic marketing and communications plan that uses multiple channels to get the word out about your fundraiser. Make sure to include promotion leading up to your peer to peer fundraiser. During your fundraiser, kickstart momentum by having a quiet, soft launch with a core group of supporters so you can claim a fundraising milestone early in your efforts. Remember, once people realize you have traction, they will want to get on board and get others to join.
Peer to peer fundraisers are an excellent way to raise money creatively, get your supporters to help you and also add new champions to your work. To learn more strategies for fundraising, follow our Facebook page or YouTube channel!
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