Peer-to-peer fundraising is a type of nonprofit fundraising that lets your supporters raise funds on your behalf. It is a very effective way when it comes to fundraising for nonprofits since it not only helps you receive donations but also helps add new donors to your organization and thus extend your network. It is also known as team fundraising and personal fundraising but is more conveniently known as p2p fundraising.
The core idea of peer-to-peer fundraising is to draw in your network’s network. This helps scale relationship-building by tapping into your current supporter’s respective networks—their friends, family, and colleagues.
It is a unique opportunity where you can spread your messages, campaigns, and causes to your supporter’s network. Each of your donors and supporters will ask their friends, family and colleagues to donate through their personal fundraising page. This will add a trust badge to your fundraising campaign since people are being approached by someone they know.
Although there are numerous easy fundraising ideas, in peer-to-peer fundraising the choice remains with your fundraisers on what to choose and how to plan and execute. As a nonprofit, your responsibility should be to see whether your fundraiser’s strategy resonates with your mission.
Though there are many ways to grow your peer-to-peer fundraising, we have outlined four of the best ways to do so.
Build a compelling campaign:- The very first step and basic thing you must do is set up a campaign. Since in peer-to-peer fundraising, audiences do not directly connect with your organization rather connects with your supporters, they have the liberty to create a personal fundraising campaign. Let your fundraisers construct a full-fledged plan and streamline their ideas. But to run a compelling campaign, the key is that your fundraisers catch the momentum in its own course rather than aiming for an instant mass appeal.
Organize events and activities:- Events and activities such as walkathons and marathons are a great way to bring in a pool of potential donors. Since it’s your supporters who will be fundraising, they will be creating events and activities. What you can do is brainstorm with your fundraisers. Help them with ideas and setting up the overall campaign.
A great way to start organizing events and activities is on special days. Holidays, birthdays or anniversaries are occasions which brings more people into your contact. What you need to begin with is a theme of fundraising that will resonate with the occasion.
Blend some creativity:- The challenges and hurdles you face while fundraising is something that you are familiar with. Given the situation, the tried and tested methods may often fall short on your expectations. Try executing some unique fundraising ideas that will captivate the audience.
Selling merchandise is something everyone does. How about organizing a chocolate making competition to raise funds for an orphanage? This will surely inspire people to participate and thus bring you one step closer to achieving your overall goal.
Train your fundraisers:- Your fundraisers i.e your supporters have the onus of doing the asking but that doesn’t imply you can sit back and funds will roll in. They should be trained and coached beforehand so that they are capable of effectively reaping in the benefits of peer-to-peer fundraising.
Coaching is important, both for new and existing supporters. The training will provide new fundraisers with the required skill sets. It will also help alleviate the knowledge of your existing supporters who have thus far run a successful peer-to-peer fundraising campaign.
Along with training, provide them with the required resources which would help them raise funds confidently and efficiently. Resources and tools that will help set up an online fundraising page, for creating a social media post, to curate content, images and videos among other requirements.
A cost-effective method to engage more donors, peer-to-peer fundraising will help you grow your supporter base beyond your capability.