If you have ever donated to a friend running a 5K to raise money for a cause, you have engaged in peer-to-peer fundraising. In peer-to-peer fundraising, individuals organize personal campaigns to collect donations from their friends, family, coworkers and community. An individual might ask for donations via crowdfunding, throw a birthday fundraiser, or participate in a team fun run.
Peer-to-peer fundraising is a fantastic way to generate revenue, because your most dedicated supporters will always be happy to put themselves out there to help raise funds. It is also a great donor retention and acquisition strategy.
Creating a peer to peer campaign has its challenges. Here are the top five tips for a solid campaign.
1. Encourage Participants to Talk about their Why
Your participants will be much more likely to find success in their fundraising efforts if they talk about the reason they are raising money. Whether it be because their sister is experiencing cancer, their child has been struggling with mental health issues or perhaps they themselves have gone through an illness or misfortune, their story will make a difference in convincing their circle to donate. When your organization sees a participant authentically sharing their “why”, make sure to share it with the rest of your community so they can be inspired and potentially follow that person’s lead.
2. Ask Participants to Donate to their own Campaign
It is important that participants be the lead gift in their peer to peer campaigns. Tell your supporters that one of the first things they will be asked by a potential donor is how much they gave. By showing that they are vested in their own campaign, they are more likely to cultivate support.
Share some equivalencies that participants can share with their community to help spur donations. For example, $50 will allow Nonprofit XYZ to clothe and feed five children for one week. Sharing equivalencies will help your participants to talk about the work you do and the results that are achieved and make it easier to share why they gave a certain amount.
3. Ask Participants to Set Milestones and Goals
It is a proven fact that those who set a goal and write it down are more likely to achieve their goal. The same holds true for a peer to peer fundraising campaign. Ask your participants to set a goal and then share it with their community. In addition, suggest to your participants that they add an incentive to their campaign. For example, if they reach their goal of raising $1000, then they will match the total donation amount. Your organization should also have a goal for your entire campaign and make sure that all your fundraisers know and are willing to share your goal as well.
4. Build Camaraderie and Competition with Teams and Leaderboards
Encouraging your participants to create a team not only builds community but can also add a much more powerful force to your fundraising. Make sure teams have the same capabilities on their group fundraising page as individual fundraisers do. Let them create team milestones and track fundraising activities. Enhance the fun and excitement of competition by offering prizes to the team that raises the most.
5. Highlight your Superstars
It is important to recognize and feature your high performers or inspiring individuals during your campaign. Highlight participants and teams on leaderboards or on other platforms such as your newsletter or social media pages. You should showcase their accomplishments and highlight their milestones so they feel purposeful and stay engaged. Remember that high-performing fundraisers and team captains are equal to big donors; you should treat them with that level of care to keep them returning each year.
With events being limited and individuals still wary of attending in-person fundraisers, conducting a peer to peer campaign can help you round out your other fundraising activities. Following these tips should ensure that your participants are successful as they go out and fundraise for your organization.