Peer-to-peer appeals have become a staple fundraising method for many charities since the advent of social media. For this week’s “FUNDRAISING DOs & DON’Ts” we raise a couple of crucial points we must remember if we want to make peer-to-peer a part of our fund development strategies.
DO use peer-to-peer as a part of your charity’s donor acquisition methods.
For those who haven’t heard of the term, peer-to-peer are personal fundraising appeals that board, volunteers, staff or current donors launch through social media platforms like Facebook, Instagram or TikTok to people within their respective spheres of influence.
A majority of individuals who contribute to peer-to-peer appeals are first-time donors who are not overly familiar with your organization’s work. Some may be remotely acquainted with your group’s core programs, yet few are likely to have a genuine understanding of how they impact the well-being of the community.
Thus, when a peer-to-peer gift is made, instantly begin cultivating a relationship with that donor. Start with a sincere but heartfelt “thank you” both from the appeal host and a charity leader. Ensure the donor is thoroughly aware of the difference their generosity will have in the lives of your program beneficiaries.
Generate a two-way conversation with each peer-to-peer donor and encourage them to ask questions about any facet of your organization’s operations. Help them to see the astonishing change your charity has created throughout its history. Introduce them to people with inspiring stories of how their lives were transformed through your organization’s programs.
Communicate with them regularly – though not too frequently – to share news and updates, but also to learn about their interests, reflections and experiences. Ask about their impression regarding how your programs are managed. Invite their feedback about your organization in general. Guide them along the early stages of their donor journey with your charity.
The short-term objective is to convince the donor to make a second gift to your charity. The long-term aim is for them to become one of your group’s most committed stakeholders. Overall, the goal should be to repeat this process as often as possible by adopting peer-to-peer as your organization’s primary means of donor acquisition.
Don’t view peer-to-peer fundraising as a “silver bullet” for your organization’s challenges.
Launching a peer-to-peer campaign can yield surprising large sums of urgently needed money for a charity. It’s also fairly common for first-time campaigns to raise 5-, 6- and 7-digit dollar returns.
Having said that, we must be careful not to have inflated expectations when organizing peer-to-peer appeals for the first, second or third time. Like other revenue streams, it can take years for peer-to-peer to gain real traction. Total proceeds will likely be meagre to modest for many of the first few attempts.
The main purpose of peer-to-peer should be to welcome new donors into your base of support rather than amass large sums of funds within a short timeframe.
Organizations that approach peer-to-peer as a panacea to funding shortfalls or to cover deficits within a couple of months are most likely setting themselves up for a massive disappointment. Even if a charity succeeds at generating an attractive amount, it does not mean it will happen a second time. Falling short of unrealistically high goals can be an extremely demoralizing and traumatic experience for financially fragile charities.
