What is Peer-to-Peer Fundraising?
Peer-to-peer fundraising is an online fundraising strategy that relies on peers reaching out to each other on behalf of a cause. Peer-to-peer fundraising allows your supporters to use personalized fundraising pages to spread awareness of your cause and engage new donors. This type of fundraising is usually done through in-person and virtual events, and individual and team fundraising through social media or online giving platforms.
Top 5 Performing Peer-to-Peer Strategies
According to NonProfit PRO’s 2021 Peer-to-Peer Fundraising study, the top performing peer-to-peer strategies are:
- In-person events- Coming in at 26% of the highest revenue performing strategies are in-person events, which include walk-a-thons or other a-thons, races, galas, cookoffs, etc.
- Virtual fundraising- Virtual fundraising is any campaign that is conducted online. Virtual fundraising became popular during the pandemic as nonprofits were forced to change the way they engaged donors in order to provide a safe method for donors supporting their cause.
- Social media fundraising- Social media has become an indispensable tool for fundraisers allowing supporters to reach a larger audience. According to a 2021 article by Facebook, people have raised over $5 billion for nonprofits and personal causes through Facebook and Instagram fundraising tools.
- Individual fundraisers- Sometimes known as DIY Fundraisers, these involve an individual raising funds for a personal goal or cause.
- Team fundraisers- Individual fundraisers join together to work towards a goal. Teams can have competitions to power up their donations.
Acquiring New Donors with Peer-to-Peer Fundraising
So, how do you engage new donors? Ask donors to share your stories directly to their networks. Give them a compelling story about your cause or campaign and a fundraising goal to motivate potential donors and show them how close you are to meeting those goals.
Make it easy for your donors to give. If the process is too long, people will leave your page without donating. Ensure your donation page is mobile responsive. Consider investing in an online giving platform that will manage your constituents' data, process their payments, and send automated messaging thanking them for their donation.
Once you’ve got new donors and collected their data your organization can analyze that information to use it for donor retention and increase fundraising growth. Donor retention efforts help to engage your new donors so that they continue to give to the organization each year.
Reasons to use Peer-to-Peer Fundraising Software
With so many options for peer-to-peer fundraising, many organizations are using technology to increase their reach and save time setting up fundraisers with online giving platforms.
The StratusLIVE Ignite Digital Engagement Platform allows your nonprofit organization to engage donors in new avenues such as peer-to-peer, DIY and team fundraising empowering them to own their impact.
With StratusLIVE Ignite Give with Friends, your donors turn the everyday event into an extraordinary opportunity to give back. Donors create DIY fundraising campaigns, set goals, and add personalization with a campaign photo, headline, and body text. By providing a list of email addresses, donors spread the word to their friends and family.
All this data filters into powerful visualizations for nonprofit administrators to track campaign success.
What you can do with StratusLIVE Ignite:
- Donors have access to DIY campaign setup including page details, content, fundraising start and end dates, and goals
- Donors can share their campaigns easily via social media share buttons or email
- Administrators easily create fundraising categories such as Birthday, Disaster Relief, or Program/Cause to provide better campaign structure and simplify reporting
- Track key metrics including event participants, individual, team, and volunteer registrations and compare with other giving scenarios and modes in the platform
- Quick launch feature inspires admins to easily take actions including create or manage a DIY Fundraising Campaign
- Low-code, no-code environment allows users of all technical skill levels to create visually impactful fundraising pages
Lastly-Don't Forget to Say Thank You!
Make sure to thank your donors right away. When the donor receives a personalized message, they feel valued. The StratusLIVE Ignite Give with Friends module allows you to automatically send branded emails to your donors thanking them. Consider making a thank you video to everyone who has donated and post it on social media and send in an email.
Want to find out more about peer-to-peer fundraising software?
Schedule a demo and we’ll tailor the content to your needs, work around your schedule, answer your questions. But mostly, we’ll amaze you at what our technology can do for your organization!
Eager for more best practices on peer-to-peer fundraising?
Watch our webinar - Peer-to-Peer Fundraising: The Ultimate Guide for Nonprofits!