Best Practices for Peer-to-Peer Fundraising
Best practices for Peer-to-Peer Fundraising have emerged as this style of sourcing Nonprofit revenue has gained popularity. In 2018, the top 30 biggest Peer-to-Peer (P2P) U.S. campaigns brought in $1.29 billion and involved 6.3 million participants. To increase the chances for meeting goals for this type of campaign, here are some winning tactics employed by successful P2P fundraisers.
Set specific and detailed goals – All fundraising efforts should have a goal. P2P campaigns need to break down the top-level goals into team-level targets. Examples include:
Number of participants
Number of teams and team size target
Number of donors
Number of teams and team size target
Fundraising target per team and per donor
Make the process easy for leaders and their teams – To keep the excitement levels high, make sure all processes and the software that supports them are logical, straightforward, fast and bug-free. Provide team leaders special access to the system to make their administrative responsibilities easier to handle. Also, provide team leaders with the resources and training to thoroughly support their team members.
Make it mobile – Deploying the campaign content on a mobile platform is essential. This drives a sense of immediacy for the campaign. This is among the most important of the best practices for Peer-to-Peer Fundraising.
Promote via multiple channels – print, video, website, email and social media all need to be employed to execute the communication plan. Potential donors and team members will be more motivated as they experience promotional content from multiple channels.
Communicate frequently – Keep participants informed of campaign progress to maintain engagement. At the end of the campaign, thank all participants and celebrate their efforts toward achieving the goal.
Provide meaningful incentives – Swag and other promotional items are helpful, but donation matches are more impactful on revenues.
Conduct a rigorous post-campaign analysis – The analysis should include:
Actual to plan for team level target
Number of teams and team size target
Survey leaders, team members and donors for feedback on improvement opportunities
Assess the performance of processes and software to fix problems and innovation ideas.
Best practices for Peer-to-Peer Fundraising are common sense ways to make the most of this revenue-efficient and stakeholder-engaging means to fund a Nonprofit organization.