Peer-to-peer fundraising (p2p fundraising) is basically the idea of “friends asking friends” to donate to a cause. This type of social fundraising campaign leverages your supporters by asking them to fundraise on behalf of your organization. One reason p2p fundraising works so well today is because of how much easier it is for each individual to communicate with their network of friends, family and acquaintances online.So what does peer to peer fundraising mean for nonprofits? Peer to peer fundraising is not just for individual or team fundraising campaigns. Rather, this fundraising strategy can be implemented by any organization just by tapping into its community of supporters. By asking them to reach out to their network of friends and families for contributions, the organization will expand its reach exponentially, and attract new donors.
In addition to reaching more people, peer-to-peer fundraising helps nonprofit organizations augment their resources. Every organization is limited by the amount of time and resources available for fundraising, especially nonprofits. With peer-to-peer fundraising, an organization creates an army of advocates to help tell your story and raise funds for you. So, instead of just “asking for a donation”, organizations should encourage their supporters to help spread the word. Thus “friends asking friends” can result in a much larger pool of candidates, thus a much larger financial result at the end of the campaign.
If your organization is considering peer-to-peer fundraising as part of your over-arching strategy, you will also want to think about how you will help your supporters succeed. With pledge fundraising software, your organization can offer personal fundraising pages to each individual, giving them the ability to personalize a fundraising page they can easily share with their friends. In just a few clicks, your supporters will be able to share your mission and start asking friends and family for contributions. Fundraising software includes email capabilities, social media widgets, and online tools to help your supporters easily reach their personal networks online. Fundraising software will also help your organization communicate more effectively with participants by keeping important information about the fundraiser up to date, as well as tracking fundraising progress and creating reports to help you analyze the effectiveness of your fundraising campaign.