How to Make the Most of Crowdfunding: Birthday Fundraisers, 5K’s, Facebook Fundraisers, and More
You’ve probably participated in, or even run, a peer to peer or crowdfunding (P2P) fundraising campaign. P2P campaigns have grown in popularity over the last decade since anyone can launch one and fundraise for themselves or an organization they care deeply about! Whether your fundraiser is a 5K run, a day of giving like Giving Tuesday, or another event, you can use your P2P campaign to mobilize your board and volunteers and raise money from a large audience.
While these campaigns have great potential, there are a few considerations to determine if a P2P Fundraising Campaign is the right strategy for your organization.
Pros and Cons of Peer to Peer Fundraising
P2P fundraisers can be a powerful way to generate revenue for your organization, but they can also be time intensive and disappointing. Like any fundraiser they take a strategy, a base of committed supporters, and the know-how to execute a fundraising campaign.
Done well, a P2P campaign can open up your mission to an army of new and returning supporters, and give your donor base a way to feel truly engaged in your work. This can generate new donors, significant revenue, and expanded awareness for your organization, since so much of P2P campaigns are done via social media and email!
But, P2P campaigns are far from fundraising magic bullets. One of the main challenges start-up and small nonprofits face is underestimating the amount of time, energy and management that goes into running a campaign — and overestimating how easy it will be to actually get people to donate!
And, P2P fundraisers need a strong leader to project manage and motivate. That might be you - creating the assets, supporting your board and volunteers, and helping them solicit funds. But, if you don’t have the time to lead a P2P campaign, you’ll need to make sure you have a strong champion to take that role and make sure that you have a base of supporters.
Is a Peer to Peer Fundraiser Right for You?
Before you go running off to create a P2P fundraising campaign, make sure that it’s the type of fundraising that will most benefit you and your donor base. Successful P2P fundraisers have one thing in common: a base of champions who will send emails and make phone calls to ask for money on your behalf. If your board is disengaged or afraid of fundraising, and your larger base of donors, supporters, and volunteers isn’t used to working with you in this way, you’ll need to make sure you can support, motivate, and educate them. In this case, start small - a Giving Tuesday campaign with a modest goal can help you work out the kinks before you set a loftier revenue goal.
Peer-to-Peer Quick-Start Checklist
☐ Take our short quiz to see if a P2P campaign is right for you, and identify what support you need to be successful.
☐ Make sure that you have a clear plan for your campaign, from the logistics to the branding.
☐ Find a P2P platform like GiveLively to host your campaign.
☐ Update your P2P planning workbook.
☐ Get buy-in from your board and volunteers and start motivating & training them.
☐ Give your individual fundraisers the tools to be successful by customizing your P2P toolkit and sharing with the whole team!
☐ Thank everyone who participated and donated with personal emails, handwritten cards, and phone calls.
☐ Plan for next year’s campaign!
Free Resource- Peer to Peer Campaign Planning Workbook
One of the steps identified in the checklist above is to make sure that you have a clear plan for your campaign so we have a free resource to help you do that! We’ve created a step-by-step workbook to plan your campaign, develop assets, track action items, and identify volunteers.
Sign up below to receive your Free Campaign Planning Workbook today!