Peer-to-peer fundraising is a flexible campaign method that you can apply to any event or campaign. When you use the right strategies, it offers benefits from gaining new donors to raising more funds. Understanding the basics of peer-to-peer fundraising and its benefits can help your nonprofit run a more successful campaign and reach more people.
What is peer-to-peer fundraising?
The peer-to-peer fundraising method relies on organizing supporters raising funds and spreading awareness. Peer-to-peer fundraising solutions let willing sponsors create personalized pages to collect donations from families and friends. These sponsors do the bulk of the fundraising by sharing links to their page on social media or other public online platforms.
Many organizations use P2P fundraising to promote donations before an event. While other digital fundraising strategies like crowdfunding use a centralized approach, peer-to-peer fundraising uses a unique and customizable page for each sponsor. They can use social media to share their connection with your cause through personal stories and experiences and link back to their page.
This fundraising type has many other names, including P2P, social, and team fundraising. It’s very flexible, allowing you to apply it to various campaigns. You can use it for online or hybrid fundraising, helping optimize your campaign to fit your needs and goals.
5 benefits of peer-to-peer fundraising
Before you plan your next fundraising campaign, learn the benefits of P2P fundraising to determine if it suits your organization and cause. This popular and successful fundraising strategy is an excellent choice for many nonprofits and can help you accomplish several growth goals.
1. Strengthening existing relationships
Peer-to-peer fundraising can already help you deepen your bond with those who care about your cause when you want to boost donor retention and involvement. Because this fundraising type requires work from individuals, it’s easier to engage them quickly.
The setup is simple and allows supporters to customize their page and share links quickly. Participants can give their time and show their passion for your cause from the comfort of their homes. Peer-to-peer fundraising also lets them get involved without needing to donate, showing you care about them as more than a source of income.
Customization and personalization can help your organization learn more about your loyal donors and participants. When someone sets up a page and shares their story, you can learn what they value most about your organization and how it has impacted them. This information helps you create future campaigns and materials that better target their wants and needs for further retention and engagement.
2. Acquiring new donors
A peer-to-peer fundraising strategy allows you to reach more people than other campaign methods. Because regular donors and sponsors share campaign information, they can spread it to people you might not contact otherwise. Social media allows individuals to share links and communicate with their family and friends, inviting them to get involved. Those people can help sponsors by boosting their posts, helping them spread the request even further.
The social aspect of P2P fundraising is what makes it so powerful. People tend to trust others they know over brands and organizations. Donors have more trust in your organization when their friends or family members share a personal connection. Donors can discover new organizations they and their loved ones are passionate about, dedicating their future time and money. This individual involvement and personal details on participant pages help make P2P impactful.
3. Increasing your social media presence
Peer-to-peer fundraising strengthens name recognition and encourages people to explore your social media pages. Most people share fundraiser information on their personal social media accounts like Facebook and Instagram. Their followers are more likely to look up your page to learn more about you and what you do when sponsors tag you in their posts. Some might just peruse your most recent posts or links, while others might follow your account so they can stay up to date about your future endeavors.
As people pay more attention to your social media pages, they will begin associating your visual marketing efforts with your organization, boosting brand recognition. Locals might see signs for your events in their area or remember your logo when searching online.
You can use your P2P sponsors’ pages to incorporate key brand details. Donation pages should have some standardized elements, like your logo, colors, and font. Donors can become more familiar with your brand even if they only donate through a friend’s page.
4. Promoting events
Peer-to-peer fundraising campaigns can stand alone as great online fundraisers, but you can also pair them with virtual and in-person events.
You can use your P2P fundraisers to develop events and increase attendance. Your donors can act as sponsors for participants, with each donation encouraging more involvement at your event. For example, many organizations hold sponsored runs or walks, where participants run or walk a lap for every donated dollar they earn. Your participants can set goals for how much they have to pledge, boosting activity at your event.
This type of fundraising is also a great way to raise awareness for upcoming events. You can start accepting donations in the weeks leading up to your event, encouraging donors and sponsors to meet personal and organizational goals. This campaign option allows people to learn about your cause and organization before committing to your event.
5. Empowering donors
People love to volunteer and donate because it makes them feel good. They like to be a part of impactful causes that support people and drive change. Donations can feel impersonal — it’s sometimes hard to see how donor money affects the cause. Peer-to-peer fundraising helps people feel more connected as they collect donations and handle marketing efforts. At the end of the campaign or event, they can see overall progress and know how their actions contributed to your success.
Organizations can use this opportunity to boost potential and morale. Temperature bars help show progress toward individual and organizational goals, motivating sponsors to stay involved and keep spreading the news. Competition boards can highlight the biggest earners and show appreciation for everyone who contributed to your campaign efforts.
Build your peer-to-peer fundraising campaign with GiveSmart
Peer-to-peer fundraising can be a powerful campaign strategy to help you raise money and engagement. P2P software is an essential tool for running this type of campaign, and the best solution for your nonprofit will pair you with strong functionality and management.
GiveSmart’s peer-to-peer fundraising solution can integrate with any campaign, helping you increase your fundraising efforts and interact more with your donors. It creates a unique donation collection pages for each interested supporter — they can upload pictures and videos for a personal touch while maintaining your branding standards. Keep your donors engaged and motivated throughout the campaign with automatic messages. The reporting and Google Analytics features help you understand your campaign efforts and develop stronger future strategies.
Request a demo from GiveSmart today and discover how P2P fundraising can transform your nonprofit’s next campaign.