Soapbox Engage Blog

Peer-to-peer fundraising is one of the best and easiest ways to get your donors and supporters involved in the fundraising process. More than 43% of nonprofits that use peer-to-peer fundraising report that it makes up over 50% of their annual revenue!

New data suggests that peer-to-peer fundraising is one of the most effective fundraising methods available to nonprofit organizations. Unfortunately, over 45% of nonprofits don’t take advantage of this new and relatively low-cost fundraising method.

Are you ready to incorporate peer-to-peer fundraising into your fundraising plan? Here are five steps you can take to ensure your peer-to-peer fundraising campaign is a success.

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1) Have a strategic plan for fundraising

Fundraising is essential to nearly every nonprofit. You rely on financial partnerships to pursue your mission and make the world a better place. Unfortunately, many nonprofits don’t have a fundraising plan.

Fundraising takes time, energy, and a well-designed strategy. It is critical to develop a long-term strategic plan as well as specific goals for each fundraising initiative. Donors want to support organizations with a clear, well-written vision and a strategy to make that vision reality.

As you develop your fundraising plan, treat peer-to-peer fundraising like any other fundraising initiative. Decide what percentage of your total budget you’d like to raise through peer-to-peer strategies.

Make sure you have clear, realistic goals. This will help you plan better, take the right steps, and stay motivated to accomplish those goals.

You should also assign someone on your team to head up the P2P campaign. When one person is responsible for organizing and leading the initiative, it’s far more likely to succeed.

2) Choose a peer-to-peer fundraising event that fits your organization

Before the social media age, peer-to-peer fundraising usually involved a specific event like a walk-a-thon, a charity concert, or some other activity. If your P2P plans include an event, make sure you choose one that your core supporters will be very enthusiastic about. The sky's the limit and you’d be surprised what will draw a crowd! Well Aware proved that with their “Shower Strike” in which their supporters stopped showering until they met their fundraising goal.

Survey your network of supporters to see what types of events excite them. Consider using the event as the kick-off or celebratory end to an extended crowdfunding campaign. This is an excellent strategy to either celebrate a job well done or launch your supporters with enthusiasm and maximize your fundraising potential.

3) Engage your network early and often

The success of peer-to-peer fundraising (and all other crowdfunding methods), depends on how well you can mobilize your network of donors and supporters. It’s essential to equip them for fundraising success.

Start by connecting with your most loyal supporters. Engaging your core audience before you go public helps build early momentum and increases the likelihood of success.

After you recruit your core team of passionate fundraisers, it’s essential to offer all the tools for success. No matter what kind of event or campaign you are planning, your supporters need resources to help them fundraise effectively on your behalf.

Organizations that host successful P2P fundraising events and campaigns usually offer the following resources to their supporters.

• Training (or resources) on how to ask for donations
• Sample social media and email templates
• Social media graphics and resources
• Access to individual fundraising web pages they can personalize
• Opportunities to interact with your team, ask questions, and get support through the process
• Some kind of community (private Facebook group, etc.) to connect with other supporters and people who work for your organization

You can offer these resources in a variety of ways. Whether you host online “how-to” sessions, offer training booklets, or make all the resources available online, it’s essential to equip your team of supporters and answer all their questions.

These resources are also crucial for your organization’s message. Before you set your enthusiastic supporters loose across the interwebs, make sure they understand the core of your message and how to communicate it effectively.

Of course, it’s essential for your supporters to share their own stories and why your organization matters to them. But when they launch their P2P donation page, they are representing your organization and “brand” to their network of friends and family. Make sure they receive the best resources possible to represent you well.

Training your P2P fundraisers is just as important as training any of your staff members. Offering excellent resources helps them fundraise successfully, increases their connection to your organization, and increases the likelihood that they will participate in future initiatives.

Even after the training is complete, continue checking in with your fundraisers. Offer encouragement, answer questions, and create a space for them to offer feedback. Make sure you take the time to encourage those who are having a slow start and congratulate your supporters who are having great success. This communicates that you value and support everyone who participates.

4) Choose the peer-to-peer fundraising platform with the right features

Before online giving was widely available, organizations armed their supporters with clipboards and spreadsheets and sent them out to collect cash, checks, spare change, and sponsorships for the upcoming event.

P2P fundraising platforms and online giving revolutionized the crowdfunding model. Now, you can mobilize supporters around the world with just a click of a button. No more bags of cash and change or trying to read illegible handwriting scrawled on pledge forms.

The right fundraising platform streamlines the entire process and makes it significantly easier for your organization to manage P2P fundraising effectively. Not all fundraising platforms are created equal. Make sure you choose one with the right features and capabilities to meet your needs.

The best peer-to-peer fundraising platforms have the following features.

• Mobile-friendly donation options
• Customizable donation pages for each supporter
• Shareable links to make social media networking easier
• Consistent branding across all donation pages

If your P2P campaign includes an event, it’s helpful to choose a platform that allows you to sell tickets or register people for your event in addition to accepting online donations. Your event organizers will thank you, and your accountants will be forever grateful.

5) Collect the right data

We really hate to sound like a broken record, but data is king in the fundraising world. No matter what you are doing, you must collect the right information about your donors and volunteers. Major investors want to know they are backing a successful, responsible, trustworthy organization. Smaller donors want to know their efforts are making an impact. The correct data will help you paint an accurate picture for both groups of people.

The right CRM (customer relationship management) system can help you collect as much data as you would like as you go and in a convenient, organized manner.

Every interaction you have with a supporter or donor can give you more data, which will help you understand your donors better, reach new networks, and utilize major philanthropy opportunities (like corporate grants or matching gifts).

Start by collecting the necessary information.

• Address and other contact information
• Age bracket
• Profession
• Giving dates and amounts (you should be able to see exactly when and how much each of your donors contributes to your organization).

Collecting this kind of data will help you develop targeted fundraising strategies and follow up with donors who can give more. It will also help you identify fundraising events and campaigns that are more successful--in fundraising, success is not just the amount of money raised, it might be the number of people reached or the number of significant gifts received.

Take the time to understand what the data is telling you and adjust your fundraising efforts accordingly. Donor data should influence the fundraising decisions of every nonprofit.

Peer-to-peer fundraising campaigns have the potential to bring in significant amounts of money and dramatically increase the number of people connected to your organization. It’s vital that you are able to follow up with these new donors, welcome them to your “community” and offer more opportunities to get involved.

Equipped with the right CRM system and an understanding of your data, you’ll be able to bring in larger donations, grow your community of supporters, and take advantage of corporate philanthropy programs.

Are you ready to launch your first P2P fundraising campaign, or do you want to improve your existing campaigns? Here are three more resources to help you take the next steps.

• Step-by-Step Guide To Creating A GivingTuesday Campaign: One way to improve your P2P fundraising campaigns is to tie it to a specific event or day, like GivingTuesday. Here are some practical tips to help you put together a successful GivingTuesday campaign.

• Best Nonprofit Fundraising Software: 6 Awesome Tools: No matter what kind of fundraising campaign you plan to launch, the right CRM system and fundraising software is key to your long-term success. Here are some fundraising software options you should consider.

• Boost Your Revenue with These Matching Gifts, Tips, and Tricks: Matching gifts are an excellent way to increase your donations. Matching gifts are excellent ways to motivate supporters to raise more money through their P2P campaigns! Learn how to market matching grants and leverage them well!