Peer-to-peer Fundraising has become a powerful new tool for non-profits to double down their work in the world of charitable giving. The best peer-to-peer fundraising platforms empower organizations to utilize their existing supporters as a way of leveraging access to the various networks that those people are part of, leading into an unprecedented amount and type of fundraise. To wrap-up my thoughts on these platforms as I close the article, here is a bit more about how they do it and why they matter so much to non-profits.
What is Peer to peer fundraising?
Peer-to-peer fundraising is the concept of raising money on a nonprofit’s behalf. Through P2P, instead of relying only on the organization to make asks for donations via solicitations/calls/applications, supporters lean significantly on their personal contacts — friends/family/work relationships in order to bring in those gifts. Not only does this extend the potential donor pool but it humanizes giving.
Read The Ultimate List of Peer-to-Peer Fundraising Platforms for more information.
Other benefits include wider reach and engagement
The most apparent benefit of peer-to-peer fundraising software is its power to help your fundraisers raise more money. Every supporter was like a mini-campaign manager, and they would touch their [100] friends on Facebook. And through this kind of cooperation, you find a cumulative effect that can make for much greater fundraising total than traditional means.
Community Building
P2p fundraising creates a sense of community, and common purpose. These people will form solidarities with the good will and feeling they had during that campaign. This collegial keg-kill raises money while it also heightens awareness of the charity.
Enhanced Donor Relationships
Donor appeals :: When fundraisers raise funds in the name of a charitable organization, they frequently tell their own stories about why they have such emotional attachment to this type of work. Ah, yes — and it shows donors why they should care. Connecting the emotional dotsBetween you and me, your supporters are just people too.RELATED: Why Most Nonprofits Fail at Donor Engagement—And What They Can Do to Succeed (FREE EBOOK)People who care about things, but have skeptics like we all… — Medium
Easy-to-Use Technology
Today, most peer-to-peer fundraising platforms offer ad-hoc-a campaign creation options and provide easy to use interfaces for setting up the campaigns. Supports can fundraising pages anytime; these side by sides also have their own dollar and donor goals, as well as updates they want to share with the people they know. This simple approach allows more people to take part in the fundraising.
Select the Right Fundraising Platforms for Nonprofits
Questions to consider when choosing a peer-to-peer fundraising platform:
Features and Functionality
The platforms that have customizable fundraising pages, social sharing tools and ability to track real-time progress may be preferred. And, there are some (like Werbylo) which does have inbuilt Donor Management as well helping the NPOs to keep track of their supporters and donations.
Cost Structure
Cost structure: Having a clear idea of the cost built behind this platform is significant. If we used the logic of existing options, some platforms are paid a percentage whilst others get charged in flat fee. Look at your budget and determine where you can afford to take a platform.
Support and Resources
Check the support services of platform. Most provide educational resources, customer support and community forums for tips to help nonprofits raise the most funds possible. A marketplace with quality support will make a significant difference in the success of your campaign.
Integration Capabilities
If you have already put specific tools in place for donor management or event planning, make sure the peer-to-peer fundraising platform will work with these systems. This will save you time during processes and prevent typing the same data over and over.
Effective Peer-to-Peer Fundraising Best Practices
Goal : Clearly define your fundraising goal inform and educate to our followers. You can challenge them to score more by setting an occasional target.
Give them Resources: Empower your fundraisers by providing email templates, social media posts and tips on how to contact their networks.
Acknowledge and Celebrate Success – Recognize the successes of your fundraisers throughout this journey. Sharing successes and milestones replicates the setup in point number 1 of ensuring that everyone, even those less likely to have contributed on a project or task basis feel they are part of something bigger which is an incredibly powerful motivational tool.
Follow Up: Following the campaign, get in touch again with both your supporters and their donors. Appreciate their efforts and let them know how much difference it has made.
Leverage Data — Analyze the data presented by your fundraising platform so that you can look through what did and didn’t work. By planting this data in your Decision Engine, you can better inform the strategies behind future campaigns.
Conclusion
Peer-to-peer fundraising platforms are changing the way that nonprofits can interact with their advocates, and raise dollars. With the help of their supporters networks insights, organizations can get more outreach opportunities with them as well directly engage and make some impact in policy or advocacy matters using a human perspective.
By focusing on platforms such as Werbylo, nonprofits can up their fundraising game and give the donors something they really want to engage with. In combination, your organization and the individual have access to resources that are capable of unleashing peer-to-peer fundraising success. Take advantage of peer-to-peer fundraising and see your impact skyrocket!