How to Host a Successful Peer-to-Peer Fundraising Event
Peer-to-peer (P2P) fundraising is a popular method for nonprofits to raise money and expand their donor base. This approach allows organizations to tap into their supporters' personal networks to leverage social networks to drive engagement and increase donations. In this post, we'll discuss the pros and cons of this fundraising strategy, explore recent research on its effectiveness, and walk you through the steps to plan and execute a successful P2P fundraising campaign.
What is Peer-to-Peer Fundraising?
Peer-to-peer fundraising, also known as social, P2P, or DIY fundraising, is a strategy in which nonprofits empower their supporters to raise money on their behalf. Often, it’s surrounded by an event such as a walk or 5k. Participants create personalized fundraising pages, share them with their friends and family, and encourage donations.
The key benefits of hosting a P2P fundraiser include:
Raising money beyond geographic limitations: Unlike traditional fundraising events that require in-person participation, P2P fundraising enables donors to contribute from anywhere in the world. This removes geographic barriers and allows nonprofits to tap into a broader donor pool.
Providing supporters with a unique way to engage with the cause: P2P fundraising transforms supporters into advocates for the nonprofit. By involving them in the fundraising process, they feel a deeper connection to the mission and are more likely to remain engaged long-term.
Leveraging social proof to attract new donors: When people see their friends, family, or colleagues fundraising for a cause, they are more likely to contribute. This sense of trust and credibility makes P2P campaigns highly effective at acquiring new donors.
P2P fundraising is an option during times when in-person fundraising is not feasible, such as during public health crises, for organizations with a broad, dispersed donor base, or for organizations raising funds for programs in other countries.
Latest Research on P2P Fundraising
A 2024 study by Nuclavis, a mobile technology company for nonprofits, highlights challenges in P2P fundraising:
54% of P2P managers reported losing staff in the past year, affecting fundraiser recruitment. Consistent staffing is crucial for building and maintaining strong relationships with fundraisers.
100% of organizations with staffing changes struggled to attract and retain participants, making staff retention a key priority.
67% of spring Walk/Run programs saw revenue declines from Facebook fundraisers, indicating the need to diversify digital fundraising channels.
Despite challenges with staff turnover, these events remain popular, “About 70% of the people that we talked to with spring campaigns said that fundraising was up, and about 60% said that participant counts were up as well. In my mind, that’s really great,” said Noel Beebe, the director of client strategy at Nuclavis.
Want to hear more? This study was further discussed in a podcast from Nonprofit Pro, which addressed the pros and cons of P2P fundraising and how nonprofits can improve.
Step-by-Step Guide to Hosting a P2P Fundraising Event
Now that you know what a P2P event is and the latest research, how do you plan one?
1. Define Your Goals
Before launching a P2P campaign, establish clear objectives. Consider:
Fundraising targets: Define the total amount you aim to raise, the number of participants needed, and the average donation size required to reach your goal. Setting realistic targets ensures that fundraisers stay motivated.
Engagement goals: Beyond just financial targets, consider how you want to engage supporters. This could include the number of new donors acquired, the reach of social media shares, and the retention rate of fundraisers who return for future campaigns.
Timeline: Outline the start and end dates of your campaign, including major milestones such as kickoff events, mid-campaign incentives, and final fundraising pushes.
2. Choose a P2P Fundraising Platform
A robust platform will enable easy setup and tracking of individual fundraising pages. Look for features like:
Customizable donation pages: Allow fundraisers to personalize their pages with photos, stories, and donation goals.
Social media sharing capabilities: Built-in sharing tools make it easy for participants to promote their campaigns on Facebook, Instagram, Twitter, and email.
Automated donation tracking: Ensure that all contributions are accurately recorded and attributed to the correct fundraiser.
Integration with donor management systems: Connecting your P2P platform with your donor CRM, like Julep, helps track new donors and follow up for future engagement.
Intuitive and easy-to-use: UX for participants: P2P events depend on donors and participants. Make sure the software is easy to use and users of all ages and technology levels can set up personal pages.
3. Recruit Fundraisers and Ambassadors
Engaging dedicated fundraisers is crucial for campaign success. Identify:
Past donors and event participants: People who have already demonstrated commitment to your cause are more likely to participate again.
Volunteers and board members: These individuals are often deeply connected to the organization and can serve as effective fundraisers.
Social media influencers or community leaders: Well-known individuals with a strong online presence can amplify your campaign’s reach significantly.
Encourage participation with:
Personalized outreach and training: Provide one-on-one support or group training sessions to help fundraisers feel confident.
Toolkits with social media templates, email scripts, and fundraising tips: Equip fundraisers with everything they need to succeed. This step is particularly important for groups such as businesses and churches that want to participate as a team.
Incentives, such as branded merchandise or competition leaderboards: Friendly competition and tangible rewards can boost engagement and motivation.
4. Equip Fundraisers with the Right Tools
Make it easy for supporters to share their campaigns by providing:
Sample social media posts and emails: Pre-written templates allow fundraisers to quickly and easily spread the word.
Fundraising progress updates and encouragement: Regularly checking in with fundraisers and celebrating milestones keeps them engaged.
Quick guides on how to engage their networks effectively: Provide training on best practices for making fundraising asks and leveraging their personal connections.
5. Promote Your Campaign
Maximize exposure through multiple channels:
Email campaigns: Send out an initial email to introduce the campaign, followed by periodic updates and success stories.
Social media: Create shareable content such as videos, infographics, and testimonials to engage a broader audience.
Corporate partnerships: Partner with businesses to offer matching gifts or sponsor fundraisers.
6. Monitor and Support Fundraisers
Regular engagement with fundraisers can boost participation and motivation. Consider:
Weekly progress updates and leaderboards: Showcasing top fundraisers can inspire friendly competition.
Virtual check-ins and pep talks: Host live Q&A sessions or motivational webinars to keep momentum going.
Recognizing top performers on social media: Publicly acknowledging fundraisers’ efforts fosters appreciation and encourages continued participation.
7. Celebrate Success and Follow Up
After the campaign ends:
Send thank-you notes to fundraisers and donors: A personalized message of gratitude strengthens relationships.
Share campaign impact stories: Highlight how the funds raised will be used to create change.
Invite participants to stay engaged with future events: Encourage fundraisers to participate again or become long-term advocates.
Pros and Cons of Peer-to-Peer Fundraising
If you are undecided on hold a P2P event for your nonprofit, consider these pros and cons.
Pros:
Expands donor base: Encourages supporters to introduce the cause to new audiences.
Increases engagement: Fundraisers feel more connected to the mission.
Cost-effective: Relies on digital tools with minimal overhead.
Boosts donations: Events with P2P components raise 4.5 times more than ticketed events alone.
Cons:
Requires a strong network: Success depends on having a large, engaged community.
Staffing challenges: Inconsistent staffing can hinder fundraiser activation.
Platform dependency: Changes in social media policies (e.g., Facebook) can impact revenue.
Quality control: Messaging and branding are decentralized, making it harder to maintain consistency.
Final Thoughts
Peer-to-peer fundraising is a powerful tool for nonprofits looking to expand their reach and deepen engagement with their supporters. While challenges exist, strategic planning, the right technology, and proactive engagement with fundraisers can drive success. By continuously analyzing data, adapting to trends, and investing in fundraiser relationships, nonprofits can maximize the impact of their P2P campaigns.
As you consider launching your own P2P fundraiser, take the time to evaluate your goals, train your fundraisers, and create a compelling donor experience. With the right approach, your nonprofit can unlock new fundraising potential and build lasting connections with supporters.