Here’s six reasons why:
- Compared with traditional fundraisers,P2P requires less money and resources. The Digital-First Peer-to-Peer Fundraising Study found that peer-to-peer increased revenue by 30% in 2021 vs. 2020. That’s almost 9x the increase in revenue generated by physical and hybrid fundraising efforts!
- Peer-to-peer fundraising enables your nonprofit to connect with Gen Z, who are accustomed (and expect) to be able to engage online.
- Peer-to-peer fundraising boosts the donations of almost any campaign. According to The State of Modern Philanthropy 2021, “The median amount raised by events in which attendees raise money on behalf of an organization through peer-to-peer fundraising pages, typically is 4.5 times greater than ticketed events.” (source)
- Peer-to-peer fundraising creates a personal, meaningful introduction of your cause and nonprofit to new donors. Existing supporters are the ones spreading the word to friends and colleagues.
- Peer-to-peer fundraising nurtures a sense of community around your organization and cause.
- Peer-to-peer fundraising helps you build a tailored approach to your donor relationships by providing another way donors can choose to participate in fundraising.
What is Peer-to-Peer Fundraising?
If you’re not 100% sure what the heck peer-to-peer fundraising (aka p2p fundraising) is, you’re in good company. This study found that over 40% of nonprofit organizations don’t, either.
A peer-to-peer fundraiser is one in which your supporters raise money on behalf of your cause. A good example is almost any kind of “walk for a cure” event, which is essentially an “a-thon” fundraising campaign with a peer-to-peer component. Participants promote their involvement (and ask for donations) through social media.
What makes p2p fundraising uniquely effective?
- Think of each peer-to-peer participant as a mini-influencer, out there telling the story of your cause and galvanizing their followers to donate and participate. There’s a whole constellation of potential new donors out there, and this is how you connect!
- Team fundraising is a unique aspect of peer-to-peer fundraising. It introduces gamification, which is a fancy word for an online marketing technique intended to inspire engagement. In short, participant teams compete to see who can raise the most money and are often incentivized by a prize (which could be branded swag!).
- The donation ask comes entirely from your supporter-participants.
Peer-to-peer fundraising is NOT crowdfunding!
Crowdfunding is when a nonprofit directly asks supporters to give (usually small amounts)—GivingTuesday is a good example of a crowdfunding campaign. Engagement with the person donating begins (and, in many cases, ends) with the click of that “Donate Now” button.
How to create a peer-to-peer fundraising campaign
Since p2p fundraising is conducted online using social media, a peer-to-peer fundraising platform will not only help you run a p2p campaign effectively, it’ll also help you and your staff be more efficient. This Nonprofit Pro study found that “just over 74 percent of participants said that peer-to-peer fundraising software has made keeping track of information on participants, volunteers and fundraisers easier.”
Using our all-in-one fundraising and events platform, you can create a fundraising page, enable participants to create their own customized pages, and manage volunteers, teams, and participants. You can also gather donor data and level up engagement with things like leaderboards, fundraising thermometers, and a list of prizes/accolades for top performers. That’s a lot of words, so we’ve created the below video that explains how to build and host peer-to-peer campaigns.
This how-to-video will:
- Provide an overview of how to build your own campaign
- Show how using peer-to-peer and team fundraising boosts donations and engagement
- Demonstrate built-in gamification and sharing tools
Peer-to-peer Fundraiser Ideas
- Every November, men all over stop shaving and grow out their beards and mustaches for Movember to raise awareness of men’s issues.
- Golf fundraisers are a great way to raise money, especially when you add p2p into the mix. Teams can compete to raise money, and you can even create special higher-value donations for holes-in-one (or two or three!).
- A push-up, plank, yoga, pilates, or CrossFit (you get the picture) challenge. For instance, the Prostate Cancer Foundation hosted a great push-up challenge in which participants had to “commit to doing 10 push-ups for every $20 donation received. All challengers are encouraged to capture the fun with photos and/or videos and post it to their social media platforms using #PCFPushUp to help share a message of hope and solidarity for anyone affected by this disease.” (via the Prostate Cancer Foundation)
- In a “give it up” challenge, participants are invited to choose a favorite food or beverage (like a latte), and for each day they don’t purchase it, they donate the equivalent amount. Participants’ friends and family can get in on the action, too, by pledging support for different lengths of time the participant will last!