5 components of a successful peer-to-peer fundraising campaign
Peer-to-peer campaigns (P2P) are a great way to reach a new network through your existing donors. P2P fundraising also grows awareness of your nonprofit through a trusted source. This type of marketing is word of mouth. One of the best ways to market your nonprofit, it will encourage people to become donors because someone they know is.
Peer-to-peer fundraising can also save your nonprofit money by using your current donors as your marketing force. They will share your story for you and encourage others to join along—free of charge to you!
Once you’re confident about using P2P fundraising, these are a few guidelines to follow for an effective campaign.
1. SMART Goals
To have a successful fundraiser you need to have one major goal. This goal should explain exactly what you are trying to fund along with how much is needed to make you successful (i.e. $25,000 for 75,000 meals to feed the homeless). Your goal should be ambitious but realistic and be presented in a way that donors can relate to.
On top of exactly what you are trying to fundraise, you will need a time basis. This can create urgency in your campaign, encouraging donors to give before the deadline. In P2P fundraising, each individual fundraiser may have a different amount they are trying to fundraise but the timeframe should all be the same.
To attract potential donors to your campaign, you’ll have to be creative. If your layout and wording are dry, you risk losing the interest of potential donors. Use designs and wording that reflect your nonprofit image in the peer-to-peer campaign.
Creativity also includes how you share information about your nonprofit. Consider crafting emails, stories, videos, etc. that explain why someone should donate to your nonprofit. Focus on what is important to your nonprofit and use those resources for your P2P campaign. If you are doing events for your campaigns, make sure they relate to your nonprofit’s brand image.
When you put the hands of fundraising into your sponsors, you need to give them the tools for success. Providing a tip sheet will dramatically increase your fundraisers’ success. Include advice on who is more likely to donate, effective ways to post on social media and offer an open line of communication in case questions arise. Communication is key for nonprofits and peer-to-peer fundraising campaigns are successful with clear, open communication.
When it comes to recognition, you have to be aware of who is taking part in your P2P campaign. Recognizing your fundraisers either on social media or on a leaderboard can help promote your fundraisers to encourage more people to donate. Mixing a fundraising thermometer with a leaderboard would be a fun way to show the total funds vs. who is raking them in.
While running your peer-to-peer campaign you will want to stay in contact with your fundraisers. Talk to them about what is working and what isn’t. Offer them advice if they are struggling with getting donations. This will keep your fundraisers engaged and motivated to continue the peer-to-peer campaign.
Bonus Tip – Matching
Contact any of your large sponsors to ask if they would match donations during the fundraiser. Donation matching encourages people who may feel like they can’t give enough to donate because a match allows them to contribute a larger amount.