Here’s a remarkable peer-to-peer statistic: fundraising solicitations received directly from friends and family (versus from the nonprofit) via email are 300 times more effective at generating donations.
Peer-to-peer fundraising is proving to be a very effective online fundraising strategy for nonprofits, community foundations and higher education institutions.
But competition for your supporters’ time, attention and funds online is increasingly stiff.
A recent Peer-to-Peer Professional Forum reported that year-over-year results for programs ranged from -15.8% (Race for the Cure, Susan G Komen for the Cure) to + 68.7% (Memorial Sloane-Kettering Cancer Center’s Cycle for Survival Program). So, there is plenty of growth potential in this area.
How do you transition your supporters to this powerful fundraising strategy and win their time and attention game?
Here are three quick strategies:
1. Let them know it’s available.
While this might seem self-evident, it’s not always so. Create and share with your participants some introductory material, such as a five-step guide for using an event center or an overview of everything that’s available. Communicate these tips via email for new online registrants or a welcome letter for new offline registrants
Recruit other participants to send the intro – people respond better to emails from people they know personally, especially if they’ve been using the capabilities successfully and can connect on the peer level.
2. Encourage participants to take the first step.
Data shows that participants who take a first step, such as personalizing a profile photo or changing the default language to their personal story are far more likely to become a regular online user and raise funds or recruit other online participants.
Online-recruited donors who then give across many channels have the highest lifetime value, so it’s mission-critical to focus your follow-up material on encouraging that first step.
3. Invest in an extra thank-you.
Your peer-to-peer solution should enable you to automatically send a customized registration thank-you email. And why not make a phone call? There’s nothing like a live voice to add warmth and sincerity into the mix.
Send a personal email. Thank the participant for signing up, tell him or her how their participation supports your mission and review the online capabilities that make outreach and fundraising easier.
Want more proven practices?
These are just some ways to transition your supporter base to peer-to-peer fundraising, and they’re a good start. If you implement these steps you’ll be closer to migrating your supporter base to peer-to-peer fundraising.
We more ways with you in our recorded webinar: How to Migrate Your Supporters to Online Peer-to-Peer Fundraising.
In this webinar, Miriam Kagan, our fundraising strategist, will review:
- The key trends and reasons it’s important to have a robust online fundraising component of your event program
- Strategies and proven practices for encouraging participants to transition from offline to online-inclusive fundraising
- Practical recommendations for enabling optimized online participant experiences
Ready to increase participation rates and year over year retention, while improving donor management and event-day efficiency?