As evidenced by the Ice Bucket Challenge, P2P fundraising is a vital method of fundraising nonprofit organizations should adopt. P2P, also known as social fundraising or peer fundraising, is a simple and effective method of fundraising that encourages donors to share their support and passion for an organization with their network of family, friends, and colleagues.
P2P fundraising creates a level of credibility for an organization that other fundraising methods, such as street corner solicitation, cannot achieve. Think about this. Who is someone more likely to donate to? An unfamiliar organization that cold-called someone to persuade them for a donation, or are they more likely to support a good friend whom is running a 5k for a cause they are passionate about?
P2P fundraising allows an organization to spread its message organically through a very impactful strategy - word of mouth - while spending limited resources. Supporters for an organizations cause are likely to turn into donors, event attendees, volunteers and most importantly fundraisers. By utilizing these fundraisers, the biggest advocates and supporters of a cause, nonprofits have access to an expanded network of individuals. Through these ambassadors, an organization has instant access to a larger donor pool while having little impact on the limited resources they may already be working with.
As further revealed by the Ice Bucket Challenge, social networking has a major impact on the effectiveness of a P2P campaign. While it may be extremely difficult to replicate the Challenge and the results they had, that shouldn't discourage organizations from promoting their cause via simple and effective social media campaigns. Focus on a creative campaign message that is simple, brief, and mobile, that encourages supporters to instantly share the cause with their network of peers via social networks.
Finally, make sure any campaign and overall message catches, in part, the eye of the millennial generation. The millennial demographic, as a whole, is far and away the most connected with their networks via social media. Engaging with the millennial generation through user-friendly applications and websites, allows for easy sharing and promoting of your organization and its cause.
Make certain you have the right tools and strategy in place to support peer-to-peer fundraising, and in turn create long-term relationships with supporters who you may have otherwise never reached.
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