It’s an understatement to say that social networks are booming. Facebook has 750 million active users. Twitter has 175 million users. LinkedIn has 100 million users. So many potential new donors, so little time…
Nonprofits use peer-to-peer (P2P) fundraising tools and techniques to take advantage of the enormous fundraising potential of social networks. Peer-to-peer fundraising takes place when social network members promote a cause within their network, soliciting donations and other support for that cause from other members of that network. Nonprofits can leverage their donors’ social networking activities by providing tools that allow donors to raise mission awareness and funds leveraging their social networks.
While most nonprofits have heard of peer-to-peer (P2P) fundraising, what’s surprising to the fundraising experts at Greater Giving is how few organizations have actually implemented a P2P campaign, or included P2P fundraising as a standard component of fundraising strategy, despite the enormous revenue potential in a P2P campaign. To help the nonprofit community get started with P2P fundraising, Greater Giving has these tips:
1. A-thon not necessary.
You don’t have to run an a-thon to execute a successful P2P campaign. A P2P campaign can be built around a nonprofit standby, the fund-a-need.
You don’t have to run an a-thon to execute a successful P2P campaign. A P2P campaign can be built around a nonprofit standby, the fund-a-need.
2. Define a specific, compelling need, and personalize.
The need or cause around which you build a campaign should be compelling and specific. In order to engage potential new donors that know nothing about your organization or cause, you need to create empathy. The best way to do this is to personalize the need with a constituent case study. Specificity also helps your campaign participants to more easily solicit donations.
The need or cause around which you build a campaign should be compelling and specific. In order to engage potential new donors that know nothing about your organization or cause, you need to create empathy. The best way to do this is to personalize the need with a constituent case study. Specificity also helps your campaign participants to more easily solicit donations.
3. Leverage sponsors. As you are planning a P2P campaign, include a sponsorship component. Talk to your existing sponsors and ask them how they want to participate. They’ll give you some great ideas. And, remember, if you engage sponsors, you’ll be able to take advantage of their social media investment.
4. Set realistic timelines and goals.
The more money you intend to raise, the longer your pre-execution timeline should be. The Greater Giving clients running the most successful P2P campaigns started with one or two small “test” campaigns to help them understand how long it actually took to plan and execute.
The more money you intend to raise, the longer your pre-execution timeline should be. The Greater Giving clients running the most successful P2P campaigns started with one or two small “test” campaigns to help them understand how long it actually took to plan and execute.
5. Set firm deadlines and stick to them. Campaign participants and support ers work better with deadlines. Make sure that you clearly communicate deadlines even for a test campaign.
6. Provide training and resources.
Train participants on how to use your P2P fundraising software and provide them with fundraising resources to help ensure their success.
Train participants on how to use your P2P fundraising software and provide them with fundraising resources to help ensure their success.
7. Encourage competition among participants.
Whether you choose a team or individual participant fundraising model, encourage competition to raise more money. Post results, hold participant motivational meetings, and communicate fundraising standings to participants.
Whether you choose a team or individual participant fundraising model, encourage competition to raise more money. Post results, hold participant motivational meetings, and communicate fundraising standings to participants.
8. Promote, promote, promote.
Use social media, email, sponsors, your website, the press, every opportunity you have to promote your P2P campaign.
Use social media, email, sponsors, your website, the press, every opportunity you have to promote your P2P campaign.
To learn more about P2P fundraising, including more detail on the tips listed here, join Greater Giving at the Peer-to-Peer Fundraising Strategies seminar scheduled for Wednesday, August 10, at the Center for Nonprofit Management (2902 Floyd Street, Dallas).
For more details and to register, click here.
Patricia Borders
For more details and to register, click here.
Patricia Borders
Greater Giving
