The Scoop on Peer-to-Peer Fundraising
Helen Keller once said, “Alone we can do so little; together we can do so much”. If you work for an NPO and you’re feeling a little alone and ineffective in the fundraising department, perhaps it’s time to consider some teamwork.6
Peer-to-peer fundraising, also known as P2P, social or team fundraising, relies on the clout of the collective, and as a result, it’s a powerful and efficient way to bring in monetary support for a cause.
How It Works
The peer-to-peer model rallies an NPO’s existing donors and volunteers to raise money on its behalf. Supporters get involved by reaching out to their own networks – their family members, friends and colleagues – to ask for backing in the form of funds, which are typically donated to an organisation’s mission via personalised online fundraising pages linked to a main website. The process often relies quite heavily on social media as fundraisers turn to digital means to spread the word and collect their own supporters.
Typically, peer-to-peer fundraising efforts are organised around some sort of event (think a bicycle race, walkathon or concert) or challenge (like Movember or Unogwaja), but this is not always the case. Several organisations run rolling P2P campaigns that invite supporters to get involved year-round by, for instance, “donating” their birthday to a cause – asking for donations instead of gifts.
There are several more popular approaches to social funddraising, but really, the possibilities are endless.
Why Your NPO Should Get Involved
A major benefit of the P2P model is that it doesn’t require all that much work or effort on the part of NPO staff.
Your supporters invest a lot of the time and energy for you, and the campaign takes on a life of its own outside of the framework of your organisation. As a result, the potential for impact is huge. Think about it: if just 10 individuals in your network reach out to their networks, you could have 100 new advocates in no time. Very quickly, you spider web your way to a much more extensive donor base.
Social fundraising is also often a more effective way of requesting financial support. After all, the chance that an ask will convert into a donation is much higher when the person doing the asking is a close friend or family member and not an unknown NPO representative.
The trust is already there; that bridge has already been built.
The team approach also has the added benefit of strengthening and deepening relationships with those who are already at least partly invested in your mission. By asking existing donors to help you recruit new donors, you empower them, make them feel valued and invite them to play a more significant role in an organisation they already care about.
Tips for Successful Peer-to-Peer Fundraising
To make P2P fundraising work for your NPO, you need to do a little foundational legwork. Consider the following tips:
- Choose the right peer-to-peer fundraising software. You’ll need to set up an online platform that supporters can use to request and collect donations. There are a number of great, easy-to-use peer-to-peer tools out there that let fundraisers create their own customised giving pages.
- Support your supporters in their fundraising efforts. Remember, many of them have probably never asked for donations before. Prepare and guide them by giving them in-person training and access to resources, like tips sheets and customisable email and social media templates.
- Set clear targets. Define the parameters around your campaign and establish clear goals for fundraisers. This will both motivate them and encourage accountability. It’s also a good idea to track progress towards your targets on your campaign website, where everyone can see the evolution.
Eager to start reaping the rewards of peer-to-peer fundraising? Get in touch with us at Brownie Points and we can help you to get started.
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