Peer-to- peer fundraising is taking the non-profit world by storm as an increasing number of charitable organizations use non-profit fundraising software to employ this method to boost donations in a time of dire financial need.
Peer-to-peer fundraising, which is similar to crowdfunding, provides an innovative method for non-profits to leverage existing lists of donors to solicit more donations and to bring more donors into the fold. Peer-to-peer fundraising takes advantage of the social networks of individuals to raise funds for a cause or organization.
In peer-to-peer fundraising, individuals typically create personal fundraising web pages for the cause they are supporting. Friends who interact with these pages are encouraged to donate money via the page to the cause or charity being supported.
Peer-to-peer fundraising has a number of benefits, including:
- Easy to set up – With the right fundraising software or applications, peer-to-peer fundraising sites can be set up within minutes. Good applications allow individuals to customize their pages, adding photos, art, and other elements to personalize them. This makes the effort more appealing to your existing donors and also helps it appear authentic to their social networks.
- Building trust – We live in a time where individuals can make a difference towards their cause and do so outside of the constraints of traditional non-profit institutions. With today’s technology, non-profits can leverage their donor base to create a trusted advocacy group to increase donations quickly. When individuals browsing the Internet come across a peer-to-peer fundraising page launched by a friend, they’re more likely to trust that the non-profit described is on the up and up.
- Bind your donors more closely to your organization – Peer-to-peer campaigns give individuals who participate in them a strong sense of buy-in to the organization they’re raising funds for. By allowing participants to customize their pages, the organization signals it trusts and appreciates the opinions of the participants. The peer-to-peer effort allows participants to make the organization a part of their identity. If you recruit your existing list of donors for a peer-to-peer effort, you may well realize the bonus of additional contributions by the donors.
- A huge audience – Social networks are huge, and it only takes one click from the right person to draw a huge amount of attention to your project. By recruiting your donors to set up peer-to-peer pages, you cast a wide net for new supporters.
- It’s fun – Many peer-to-peer campaigns incorporate activities such as 5ks or other competitive events into the effort. For example, a peer-to-peer page may solicit visitors to donate a certain amount for every mile run by the individual who started the page. By tying peer-to-peer fundraising to various events, keeping up with the page and fundraising efforts becomes fun for participants.
Many non-profit groups are struggling to maintain a steady flow of contributions as demand for their services grows. According to The Non-Profit Times, more than half of non-profit managers surveyed said there was an increased demand for their services in 2016.
The same survey found that a vast number of non-profits were faced with declining revenues in 2016. Peer-to-peer fundraising provides non-profits with an important tool that will help them continue their work in their communities.
Process Donation helps non-profit charitable organizations raise more funds by connecting them with technology that makes reaching out to donors and collecting funds easy and inexpensive. Process Donation caters to small and mid-sized charitable organizations in need of fundraising and technical support and offers very affordable services.
Whether it’s creating donor websites, optimizing the use of social media, or harnessing the power of data, Process Donation can help non-profits better achieve their fundraising goals.