Peer to-Peer Fundraising

Peer-to-Peer Fundraising
Richard Dietz, Nonprofit R+D

Agenda
What is peer-to-peer fundraising?
Why peer-to-peer fundraising?
What do you need to get started?
How do you gauge effectiveness?
Q and A

Consultants have all the answers…
Nope, not really
Great at coming up with “Best Practices”
Only way to know if it works for YOUR organization is to test
Always be looking for what is working

Previous Webcasts in the Series
Myths of Online Fundraising
Myth #6 - Only Real Way to Measure Fundraising Success is the Amount of Money Raised
The Funnel – 7 touches
Raising Friends – Peer to Peer Fundraising
Improving Donor Engagement Online
Mind the Gap – graduated offerings
More actions = more “invested” in your organization

What is Peer-to-Peer Fundraising?

Standard Definition
Peer-to Peer-Fundraising:
The process of empowering individuals and groups to raise funds on your behalf by allowing (or assisting) them to communicate and solicit prospective donors from their own networks and communities.
Also known as:
Person-to-person
Network centric
Grassroots
Collaborative
Viral

Seth Godin – Flipping the Funnel
Seth Godin has a better definition in his e-book “Flipping the Funnel”
Turn strangers into friends.
Turn friends into donors.
And then... do the most important job:
Turn your donors into fundraisers.

Traditional vs. Peer-to-Peer
Traditional Fundraising
One to Many (Org >> Supporters)
Impersonal, one-way, expensive, controlled message
Ineffective?
Peer-to-Peer Fundraising
Many to Many (Supporter > Supporter > Supporter…..)
Personal, Interactive, Inexpensive, uncontrolled message
Been around forever, but mostly offline
Much harder to do offline

Why Peer-to-Peer Fundraising?

2010 Millennial Donor Study*
71.7% of Millennial donors said they’d be willing to communicate with friends and family about ways to be involved in an organization they support.
Asked who could get them to donate to an organization, most Millennial donors say they would be likely or highly likelyto give if asked by a
family member (74.6%) or
a friend (62.8%).
Only 37.8% would be likely or highly likely to give if asked by a coworker.
*Source: Achieve: www.millennialdonors.com

Why Peer-to-Peer?
Increases engagement
Taking action deepens the relationship
Creates a Community
Example: Komen and LIVESTRONG wristbands
Very powerful (psychology)
Collective good, social recognition (Maslow)
Can be much more effective than traditional means
Response rates can be 100 times higher
Red Cross vs. Grandma
Focus for social media campaigns
Something to take action on instead of just being seen

What Do you Need to Get Started in Peer-to-Peer Fundraising?

Get Started in Peer-to-Peer
#1 thing needed
Desire and ability to Take Action
Focus on a big event or issue
All of the key factors of a good fundraising campaign (See “Myth #2” - previous webinar)
Compelling, call to action, deadline, people give to people, etc.
Example: Walk/Run event, Haiti Relief
Tools of the Trade

Keys to a Successful P2P Campaign
Compelling story and message
Clear picture of impact and where the money is going
Individal > Collective Impact (“Yes we can”)
Deadline (create urgency)
Simple tools for supporters
Follow up and Tracking
Most Important…… Ask!

Simple Tools for Supporters
Fundraising pages
Place for supporters to send friends and family
Personal blogs are best
Widgets
Progress meters, donation forms, banners/badges, etc. that supporters can use on their pages
Pre-built Communications
Sample emails, blog posts, tweets to re-tweet, social media buttons, etc.
Make it easy for supporters to reach out
Sage Fundraising Online is one easy way to do this
www.sagenonprofit.com/fundraisingonline

Follow Up and Tracking
Make sure to thank them!
Build the relationship, further engagement
Personal thank you and public recognition
Ideas:
Newsletter just for supports (Maslow)
Contest for top supporters
Special thanks / recognition of top supporters
Tracking and reporting
Software should track top fundraisers and where those donations are coming from

How Can You Gauge Effectiveness?

Gauge Effectiveness
Dollars raised is of course one measure
Fact: Very small number will raise most of the money
Identify them, give them all the support you can!
The long tail will raise a big chunk too but harder to support them
Give them the pre-built tools and content
Need new ways to evaluate success
What is success for your org?
Think outside the box

Return on Investment (ROI)
Soft ROI (Hard to measure but vital to long term success)
Increased awareness / branding
Higher engagement
Community building
Education
Hard ROI (Easier to measure, numbers)
Money raised
Increase in # of supporters
Increase in major donors
Email acquisition
Social media mentions (hash tags #)
Blog mentions (Google Alerts)
Increase in Friends / Followers
Traffic to your website

Conclusion
Peer-to-peer fundraising can turn friends into fundraisers
Take action
Only YOU can figure out what works for YOUR organization
Check out the new online tools like newSage Fundraising Online:
www.sagenonprofit.com/fundraisingonline

Where to go from here
Watch recordings of previous webcasts here:
http://ow.ly/2hUFc
Learn about new Sage Fundraising Online and enter for your chance to win a $5000 unrestricted grant
www.connectwithsage.com

Question and Answer
Contact Richard Dietz:
richard@nonprofitrd.com
512-850-6501
Contact Sage:
www.sagenonprofit.com
800-811-0961

Peer to-Peer Fundraising

by Sage Nonprofit Solutions on Jul 29, 2010

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