You might have heard of peer-to-peer fundraising. You might have heard that it is when donors make their own fundraising campaigns which then raise money on your behalf, making it a type of multi-tier crowdfunding for nonprofits. It’s been used by such heavy hitters as the Multiple Myeloma Research Foundation and the American Cancer Society. That’s impressive, of course, but why would they turn to it? Well, there are a number of reasons.
It Capitalizes On Your Donor’s Assets
According to a Guardian article, 70% of people who donate to crowdfunding campaigns also give in non-financial ways. Most of these non-financial contributions are in the form of telling all their friends about their favorite charities. Beyond the potential donors that your new partners can reach, though, are talents that you don’t have. Giving your donors access to the Peer-to-Peer module makes it easy for your donors to use their talents. Some of your donors may have a gift for writing or have a collection their willing to give away. You don’t know what they can bring to the table until you give them a chance to show you.
Diversifies Your Donors
When a peer-to-peer campaign kicks off, the far-flung social media connections of the donor kicks in. These days it is incredibly easy for your donors to reach even the remotest corners of the globe as they fundraise for you. Your charity in Boston could wind up with a pool of donors in Dubai. This doesn’t just bring more money into your charity. It safeguards the future donations. If most of your donors tend to be from one place or be from one group you will lose your income when that group of people change their minds or suffer a setback. For instance, if you draw a lot of money from one town and that town is hit by a flood, you will lose a lot of donations. Peer-to-peer fundraising reaches out beyond that one town so your income is safeguarded against local catastrophes.
Increases Donor’s Engagement
Giving people the power to do what you do creates buy-in. People are more interested in things that they have some say in, and a peer-to-peer fundraising module on nonprofit fundraising software provides that say. Besides, there is something intrinsically rewarding in creating something and seeing it pay off, and that feeling of satisfaction will increase the likelihood that an individual donor will give more money and more often.
Allows Individual Donors To Up Their Game
It’s a well-known fact that most charities get the bulk of their donations from a small percentage of their donors. Not everybody can give a ton, but that does not mean that they are not passionate about your cause. Peer-to-peer modules can give your donors a chance to collect as much money as they genuinely feel you deserve.
Fortunately, there is donor management software from companies such as Process Donation that can make setting up peer-to-peer fundraising campaigns easy for you and your donors so you can take advantage of these benefits.