By Tanisha Lele
This proven model may sound like old news, but here are the clear-cut benefits to consider before an upcoming fundraise.
Peer-to-peer fundraising, also known as social or team fundraising, is a technique used to raise money online for a cause and empower individuals. It relies on people you are associated with reaching out to their networks on behalf of your cause. This method is immensely popular amongst non-profit organizations – and rightly so, as its benefits are remarkable.
1. Relies on word-of-mouth: The main purpose of any fundraiser is to raise a substantial amount of money for its cause. The peer-to-peer fundraising method makes this possible by using trust to facilitate the fundraise.
When you ask your network to spread the word about your cause, people associated with them are more likely to show support than they would have if you were fundraising alone. This happens because those people trust your donors, look up to them, or may even be related to them.
Any investors in your social enterprise or non-profit may prefer this method, as the responsibility of keeping the organization funded no longer falls solely on them. In addition, peer-to-peer fundraising is more attractive to amateur investors and everyday people as it allows them to contribute small monetary funds instead of larger, riskier amounts of money.
2. Builds on existing relationships: Instead of reaching out to new people and explaining what your organization is all about, you just have to contact your existing partners and convince them that your cause is worthwhile and their time will be well-spent.
Most people will be more than happy to help you, as most companies are looking to be involved in projects that win them positive recognition. However, in order for you to successfully use this technique, you must be sure to preserve your relations with them and interact on a regular basis.
3. Increases awareness for your cause: Through peer-to-peer fundraising, you can reach new audiences and build connections with them. When these audiences come across your organization, they will gain an understand of the values, principles, and goals that your organization is based on. Lots of people might resonate with your cause and make connections with you.
4. Grows your social media presence: Fundraising peers are usually open to publicizing their contributions, and sharing your organization and your cause within their social media networks. They can do so by simply mentioning you in their posts and stories, making it simple for them and beneficial for you.
This in turn will open you up to a huge audience that can follow your every update through your social media posts. These are a much more engaging form of marketing, and may lead to more organic donations as opposed to those obtained by paid marketing. All you need to do is be active on these platforms, and put forward all the information about yourself that you think is necessary.
5. Promotes your events: Peer-to-peer fundraising can be promoted through any events that you conduct, and vice-versa. This kind of cross-promotion hits two targets with one arrow: you raise funds as well as gain good publicity for your upcoming events.
6. Increases your brand recognition: While fundraising for your business or non-profit organization, your name, logo, ideas, and goals are laid out on display. That earns a lot of recognition for your brand and helps to shape and polish its image.
7. Allows for selective support: Through peer-to-peer fundraising, if an individual or group is willing to invest in you, they have the choice to invest selectively. For example, they may really like one project that you’ve initiated, but may not feel as strongly about another campaign in the pipeline. Instead of choosing to support neither one, they can contribute exclusively to the project that they believe in, which in turn works in your favor.
Peer-to-peer fundraising is a strategy that all kinds of organizations use to raise money. While it’s gaining popularity as a form of startup investing through platforms such as CircleUp, it still remains largely geared toward social causes.
When you are well versed in your goals and plan your fundraiser accordingly, there will only be gains. In fact, each peer-to-peer fundraise you conduct might bring out new possibilities for your organization.
