What is peer-to-peer fundraising, anyway?
"Peer-to-peer fundraising" typically happens when a charity or a nonprofit asks their supporters to fundraise on their behalf. It's not necessary for a charitable organization to be involved. More and more independent supporters (called grassroots fundraisers!) are choosing to fundraise for causes they care about even though they may not be directly affiliated with an organization. Peer-to-peer campaigns give passionate people the tools to do more for a cause than they ever thought possible!
Why should my nonprofit care about peer-to-peer?
Peer-to-peer fundraising bypasses the credibility gap
Fundraisers gain the support of their personal networks by simply being who they are: a credible, passionate loved one. Friends and family members are more likely to donate to Aunt Shelly who's fundraising for the local soup kitchen, than to a solicitor on a street corner asking for donations. Due to this effect, 55% of those who contribute to a peer-to-peer fundraising campaign are new donors to the charity!
Peer-to-peer fundraising expands your donor list
The larger your network, the larger your reach and potential for donations. Thanks to your supporters' networks, your nonprofit has access to a new group of donors. Previously unreachable individuals have been introduced to your organization by a credible, loved one.
Fundraisers have more long term value than donors
Did you know? The average donor gives $50 while the average fundraiser raises about $500.
Fundraisers can do more to generate donations from their network than your nonprofit could do on its own. And more often than not, fundraisers will continue to raise money for your cause. One in four people return to fundraise the following year.
With 62% of donors failing to make a second donation, wouldn’t you want to maximize the number of repeat fundraisers?
Fundraisers are your cause ambassadors and nonprofit advocates
Simply put, fundraisers are more engaged with your cause than your typical donor. If you’re thinking about donor retention (and you should), converting donors into fundraisers is an incredibly sticky way to keep a supporter engaged.
Planning for peer-to-peer fundraising success
Not every nonprofit is destined for peer-to-peer fundraising glory. For some, it’s simply not a great fit.
There are a few foundational requirements an organization must have in order to take full advantage of your network’s network.
A qualified nonprofit will have the following:
- A strong supporter base - You can’t ask your supporters to become fundraisers if they aren’t engaged right?
- A peer-to-peer fundraising worthy event - Endurance events, challenges, workplace campaigns or anything team-oriented is generally a good bet.
- Information to arm the fundraiser with - Social media images and call-to-action content, high resolution logos, further cause information, event details, etc.
Picking the right peer-to-peer fundraising platform
Choosing the right peer-to-peer fundraising platform is an important decision. There are many options out there, making it difficult to decide which one is best for you. Learn how to spot an all-star peer-to-peer fundraising platform!
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