(Submitted by Sari Holtz of CauseMatch, a Nonprofit Specialists Institutional Member)
Nonprofit organizations are constantly looking for ways to grow their donor base.
There is no question that peer-to-peer campaigns (P2P) are the most effective method of donor acquisition.
P2P creates a framework for a nonprofit’s volunteers and champions to create personal fundraising pages that are part of the bigger campaign. “Fundraising Ambassadors” set their own goals and utilize personal landing pages that contain photos and a personalized message.
These campaigns tap into all the key drivers of human motivation: goals, public accountability, competition, and social influence.The result is a community of volunteer fundraisers who feel a shared sense of responsibility and motivation to a) each their individual goals, b) encourage their peers to reach their respective goals, and c) help make the campaign a success.
Depending on the demographics of the peer-to-peer fundraisers, organizations can expect an average individual to raise anywhere from $400 – $2,000. Of course some individuals raise much more.
When nonprofits run peer-to-peer fundraising campaigns, it means they are willing to embrace three opportunities.
1) Embrace the power of the network.
All of the people involved in a nonprofit have orbits. From the executive director and program managers to board members and volunteers, each individual has fundraising value beyond what they donate.
In fact, their social capital has much more value.
Once an organization taps into that social capital – friends and family of the people in a nonprofit’s orbit – then the org has pushed the entire network forward as a mobilized unit.
2) Embrace the power of new donors.
Through the power of the network (see #1 above), organizations will see an influx of new supporters. These new supporters will have been previously unknown to the organization. They will likely adhere to the same general values, inhabit similar socioeconomic circles, and support one another’s passion projects.
Instead of purchasing lists or running a wide-net social media acquisition campaign, it makes more sense to run a peer-to-peer campaign to find new people to support your cause.
3) Embrace the potential for exponential growth.
Once new donors have been added to the donorbase, the sky is the limit.
Organizations can run every new donor through a wealth-engine scan to see if they have capacity to give more. Even donors who have given a nominal amount may have potential to give more.
In many peer-to-peer campaigns I have coached, organizations have discovered major donors hiding in plain sight.
Then, it’s up to the organization to steward and nurture those relationships.
Summary
By running peer-to-peer campaigns, organizations raise more money, tap into supporters’ networks for new avenues of growth, and take the most important step in attracting major donors to the cause.
