You’ve heard the term Peer-to-Peer Fundraising, but what is it exactly? And why is it so popular? Does it really work? We have the answers to these questions and more! Read on to learn all about peer-to-peer fundraising and how to implement it for your organization.
What is Peer-to-Peer Fundraising
Peer-to-peer is a fundraising technique that leverages your existing supporters to bring in new donors and donations.
Although an organization may host a peer-to-peer campaign, for example, a walk-a-thon, the organization is not directly asking the community for donations. The supporters of the nonprofit are creating fundraiser pages and asking their social networks to support their fundraiser resulting in support for the nonprofit.
Chances are you have taken part in peer-to-peer fundraising and didn’t even know it! For example:
- Charity walks and marathons
- Birthday fundraisers
- Board challenges
- Campaign add-ons – Let’s say you’re hosting an in-person event and use the week leading up to the event for individual fundraising.
- Giving events– think GivingTuesday.
Benefits of Peer-to-Peer Fundraising
There are many benefits of peer-to-peer fundraising that can make a lasting impact on your nonprofit. Consider this:
- Donor acquisition: Peer-to-peer helps your nonprofit expand your existing donor base and gives you access to people who are new to your nonprofit’s work. Think about it, aren’t you more likely to donate to an organization that is endorsed by a friend or family member?
- More boots on the ground: Peer-to-peer expands your reach because more people are spreading the word about your work. This leads to more support.
- Deepens relationships with existing donors: Not all donors are able to do the actual work of your organization. However, Peer-to-Peer gives them a new and exciting way to get involved.
Now what is it about peer-to-peer fundraising that will draw your supporters to get on board?
To begin, peer-to-peer gives supporters a fun way to help your organization. Most donors are willing and wanting to do more than simply donate toward your cause. Therefore, hosting a peer-to-peer campaign is an easy way to get involved.
Secondly, asking, or simply providing the option, for your supporters to host a peer-to-peer campaign is what we call a non-monetary ask. Opportunities like this keep your donors engaged. Consequently, they feel like a bigger part of your success, especially if their personal charity budget has already been spent.
Moreover, a big part of peer-to-peer fundraising is that your supporters get to tell their stories. Your cause has left an impact on your supporters. Hosting a peer-to-peer fundraiser is their opportunity to share your impact.
Peer-to-Peer Campaign Types
So your organization wants to host a peer-to-peer campaign. Awesome! But what kind? There are 3 types of Peer-to-Peer fundraising campaigns.
- Fundraisers are perhaps the most recognizable type of Peer-to-Peer campaign. A fundraiser page is created by one of your supporters, then the supporter promotes the page to friends and family. In addition, the page is linked to your nonprofit and the donor information is available to your organization immediately.
- Teams are comprised of multiple fundraisers working together to hit a funding goal. The team has a central page with a leaderboard listing each team member. Teams are a great way to harness friendly competition for a great good.
- Events consist of multiple teams and fundraisers raising funds toward the same goal. The event page displays a leaderboard of the participating teams and fundraisers, a goal bar to track progress, and other event information. Events can be anything you want them to be. Maybe you only have individual fundraisers or it could be a blend of teams and individual fundraisers. It is totally up to you.
Building a Peer-to-Peer Campaign
You can start an organizational led campaign on Mightycause with a few easy steps.
To start, click the “Fundraise” button on your organization’s profile page and then select “Other Fundraising Solutions” from the popup. The “Fundraising Solutions” page provides a rundown of the campaign types. Simply scroll down on the page to select the campaign you wish to start. Then follow the prompts from there.
“I loved Mightycause. The product was simple to implement, update, and efficient to use. I honestly think you have solved every hurdle there is to running a multi-person fundraising campaign.”
Karrie with ProjectThorn
Regardless of the campaign type, the page dashboard has all you need for managing your campaign.
- The Page Editor guides you through customizing your page.
- Team and Event pages have downloadable Campaigns and Participants tracking.
- Every page has downloadable Donation Reporting. In addition, all donations will be reflected in your profile page Donations Report as well.
- The Settings tab hosts an array of options such as customizing your URL, updating your social sharing content, and managing your page metrics.
Team and Event pages will also have leaderboards listing all team or event members. Leaderboards broadcast the success of your members and encourage everyone toward your common goal, resulting in greater giving. Remember “charitable giving is contagious – seeing others give makes an individual more likely to give.”
Individual Peer-to-Peer Fundraiser Pages
Team and Event pages are great for peer-to-peer fundraising. They bring your organization’s community together for a single goal. However, a fundraiser page is typically one person directly contacting friends and family asking for donations. Consequently, the fundraiser page is most often the backbone of team and event peer-to-peer fundraising.
Each peer-to-peer fundraiser page has:
- A goal bar reflecting a dollar amount or number of donors.
- A story section including text, pictures, videos and more.
- Social sharing options making it easy for the fundraiser and donors to share the fundraiser on social media, through email, and even embed the fundraiser widget into another website.
Furthermore, the fundraiser page is a prime example of stand-alone peer-to-peer fundraising! Think birthday fundraisers or memorial fundraisers.
Supporters can create their own pages right on your organization profile page. All the supporter has to do is build and publish the fundraiser page (which is super easy) and then send out the fundraiser URL to friends and family. Just 1, 2, 3!
Recruiting Peer-to-Peer Fundraisers
Nonprofits recruit volunteers for all kinds of tasks. Fundraising is no different.
First, take a moment to consider which of your supporters you can approach for fundraising. For example you can create a campaign focused on a particular group of supporters, such as a board member challenge. Or you can select a theme for your campaign and then zero in on a group of supporters that goes hand in hand with your theme. The main goal is to get your supporters involved.
Next, make it easy for the fundraiser! No matter who you are asking, the easier it is for the fundraiser, the more participation you’ll see. So utilize our fundraiser template, provide timeline tips, create suggested content for emails and social media posts, and, if you can, offer incentives, such as a free t-shirt for the fundraiser with the most donors or the most dollars raised.
Finally, highlight the importance of your supporters’ stories. Never underestimate the power of passion! Peer-to-peer fundraising isn’t just about gaining new donors. It’s also about giving your supporters a reason to find their voice and celebrate the good you have brought to their lives.
Your supporters already have their “Why.” Peer-to-peer gives them the “How.”
Things to Note
- Just Ask! If you can ask your supporters for donations, then you can ask them to fundraise. Some of your supporters don’t even know that they can fundraise on your behalf. Others just need a little encouragement. In short- ask!
- Set reasonable goals. Your goals do not have to be tied to a dollar amount. For instance, if you are new to peer-to-peer fundraising consider a goal such as 5 peer-to-peer fundraisers in 5 months. This could be a single birthday fundraiser every month. Or perhaps you host an annual event, consider adding peer-to-peer fundraising with the goal of bringing in 3 new donors per campaign.
- Track your progress. Setting goals helps you gauge growth. Therefore, track your progress to see what works best, improvements that can be made, and goals that can be bigger.
- Follow up is key! Above all, be sure you connect with new donors and start building those relationships right away! A thank you “kick starts your donor relationship” and nurtures the relationship with your supporters. Regardless of how much they raised, the most important thing is that they created a fundraiser on your behalf. Therefore, celebrate them!
Now that you know all about Peer-to-Peer fundraising- It’s time to get started!
Make sure you have the subscription that best fits your peer-to-peer fundraising needs. You can even schedule a demo with a Mightycause team member to learn about all our fundraising features!