By Nexus Marketing

Peer-to-peer fundraising is a great way to bring a community of supporters together to raise funds on your behalf. But if your peer-to-peer fundraisers are falling short of their fundraising goals, or you just want them to be more successful, a great place to start making improvements is by maximizing the potential of your peer-to-peer fundraising software. Here’s how! 

Use peer-to-peer fundraising software to help participants fundraise effectively

Cannonball Kids’ Cancer Foundation empowered their supporters to share their own stories as part of their Gold Gala event. These fundraising participants reached 168% of their fundraising goal thanks in part to sharing the reason why this cause matters so much to them.

The beauty of peer-to-peer fundraising is that your supporters raise funds on your behalf. That’s why the first thing we’re focusing on is how to help your event participants fundraise effectively. There’s nothing wrong with fundraising participants showing up the day of your event with a bunch of cash and checks, but only if that’s their preferred fundraising method! If they’ve got to rely on physical payment methods, you may be leaving cash (well, credit cards) on the table! 

Your peer-to-peer fundraising software should do more than make it easy for you to raise funds. It should provide new opportunities for fundraising participants to raise more money too. A big part of that is offering the ability for their friends and family to support them virtually.

When you look for a peer-to-peer fundraising platform, choose one that offers at least some of the following tools for your fundraising participants:

  • Unique text fundraising keywords for participants
  • A Facebook fundraisers integration
  • Customizable fundraising pages for fundraising participants

Custom text fundraising keywords

Text fundraising is becoming more popular as we become more reliant on our smartphones. A great way for participants to fundraise more efficiently is with the option to create their own custom text fundraising keyword for their peer-to-peer fundraising page (this feature is included with Qgiv’s peer-to-peer platform). They can then share their personal keyword with their friends and family to quickly raise funds that are automatically attributed to their personal fundraising goals. 

Facebook fundraisers integration

The ability to integrate your event with Facebook’s fundraising tools can make it infinitely easier for your peer-to-peer participants to raise funds for your event. Facebook fundraisers have already raised more than two billion dollars for nonprofits! Why? Because it’s easy for nonprofit supporters to reach their friends and family on social media and ask them to donate. An integration with Facebook fundraisers makes it easy for supporters to view the total amount they raised in total without adding up the number from their peer-to-peer fundraising thermometer and then navigating to Facebook and adding in additional donations. Qgiv has an integration with Facebook fundraisers that even factors Facebook donations into an event’s overall fundraising goal!

Fundraising pages for participants

Your supporters each have their own unique reasons for encouraging friends and family to give to your organization. Their unique stories are what will inspire their family and friends to give. If your supporters are stuck with a generic fundraising page to use while raising funds for your event they’re not going to be as successful. Instead, give your fundraising participants the option to tell their story via a customizable fundraising page. This can include the ability to add pictures, write their story, and set their own fundraising goals.

Essentially, when you give your fundraising participants the tools needed to reach their friends and family and solicit donations more efficiently, they’ll be more successful. 

Increasing Donations to Your Peer-to-Peer Event

BEACON’s Walk for Literacy used a fundraising thermometer paired with text fundraising to raise an impressive 211% of their fundraising goal!

While your fundraising participants will likely be doing most of the heavy lifting when it comes to your peer-to-peer events, you can get more out of your peer-to-peer software by incorporating features that encourage increased giving. Hopefully, your current peer-to-peer fundraising software offers the following features you can implement to boost your event’s fundraising performance:

  • Add your branding to your event page using your software’s customization options.
  • Include a fundraising thermometer with a fundraising goal so donors can visualize their progress toward the goal.
  • Incorporate text fundraising and a live screencast into your event to reach your fundraising goal quickly.
  • Incentivize giving with fundraising badges for top fundraisers.
  • Use a peer-to-peer platform that supports recurring donations.

Brand your event page

You may be wondering why adding your branding to your peer-to-peer event page matters. It matters because branded donation forms result in 38% more donations. Plus, your branding being present makes your supporters 70% more likely to give again on that form. Therefore, not only is your branding driving larger donations to your event’s donation page, but you’re also earning more frequent donations. Why? Because you’re giving your supporters confidence that they’re supporting the right organization and that the funds they give go directly to you. If your peer-to-peer fundraising solution doesn’t include the ability to add your branding to your event page, it could be hampering your fundraising.

Include a fundraising thermometer

Want your peer-to-peer event to reach your fundraising goals more often? Then a fundraising thermometer is a must. Incorporating a fundraising thermometer on your main event page to track your progress toward the event fundraising goal gives your supporters a visual way to measure their progress. They want you to get fully funded, so seeing you falling just short of your goal can encourage more gifts to push the fundraising thermometer to the 100% mark.

Text fundraising and a live screencast

A great way to encourage donations quickly during a peer-to-peer fundraising event is through text fundraising. Chances are, even if your participants aren’t carrying cash, they’ll have their smartphones on them. With software like Qgiv’s Mobile Suite, you can set up a text fundraising keyword and a FundHub Live screencast. Then, when your event attendees give via text their contributions appear on the screen and donors can see how their gifts impact the fundraising thermometer when it comes up on the screen. This also provides social proof to reluctant donors that others in attendance are giving to support your cause.

Incentivize giving with badges

Gamification can be a great motivator for fundraisers. A peer-to-peer fundraising system that offers prizes for reaching fundraising milestones or claiming the top fundraiser spot can be all the motivation your supporters need to solicit more donations in support of your cause. Better yet, you could create an incentive program of your own where each badge earned by the end of the event earns the participants a physical prize or raffle ticket. 

Recurring donation support

Not everyone who finds your peer-to-peer event is interested in fundraising on your behalf, but that doesn’t mean they won’t support you in other ways. They may choose to give a gift to your event instead. One great way to make their event donation go further is encouraging them to make their one-time gift an ongoing, regular donation. This can be accomplished by using peer-to-peer fundraising software that supports recurring donations. With this option in place, your donors can give weekly, monthly, quarterly, whatever giving frequency works for them! The best part? You keep earning donations well after your event ends!

Utilizing Peer-to-Peer Fundraising Software After The Event

After your event ends, your peer-to-peer fundraising software can still be helpful to your nonprofit! For instance, your peer-to-peer event collects a lot of donor data from new and existing donors alike. But if you don’t do anything with that information, it can make stewarding those donors difficult. Why? Because you wind up missing important information, like how much they gave at your event or that they showed up at all. Use your peer-to-peer fundraising software to your advantage by making sure to put your data to use. You can accomplish this in a variety of ways, such as:

  • Setting up integrations with your CRM
  • Sending post-event emails based on your participant lists
  • Analyzing event performance against previous events
  • Using participant data to set up an invite list for the next event

Integrate with a Client Relationship Manager

A client relationship manager (CRM) should empower you to put your peer-to-peer event attendee and donor data to good use. Set up an integration between your peer-to-peer software and your CRM of choice so that your donor profiles are kept up to date. Peer-to-peer event data can provide a more complete picture of who your donors are, how much they give, and why. You can also map out your connections between donors and fundraising participants in your CRM so that you get to know who your supporters know!

Tailor post-event communications based on donor data

Your events are more effective when they’re tailored to the specific person you’re reaching out to. But more than just calling a donor or fundraiser by name, personalizing communications also means taking the peer-to-peer event data you have and crafting communications that speak to how each contact was involved. Export your peer-to-peer event contact lists to your email service provider by supporter type. You should craft post-event emails based on who fundraised for you, who gave to your event, and who sponsored your event. The messaging should differ between the groups you send emails to. This makes it easy to show those who gave or fundraised that you recognize their contribution and understand how their support helped. This can endear you to them and keep them giving beyond your peer-to-peer event.

Analyze peer-to-peer event performance

When your peer-to-peer event wraps up, it’s easy to move on to the next fundraising activity. However, when your event ends it’s a prime opportunity to compare your event’s performance against previous fundraising events you’ve held. What was successful? What raised less than expected? How did the number of participants change between events? Having this data and understanding what it means about your event makes it easy to modify your future fundraisers to make them more profitable by sticking to the elements that work and reworking what fell short.

Build invite lists for the next event

Chances are, if your supporters came to one peer-to-peer event, they’ll likely want to support the next one too. Your peer-to-peer software should include the option to build an invite list or even automatically send invites to past peer-to-peer participants when it’s time to plan for the next event. Qgiv’s participant invite tool, for instance, makes it easy to invite previous event attendees to upcoming fundraising events. It’s a great way to quickly get your upcoming events on supporters’ radar, especially if they’ve already participated in one of your peer-to-peer events.

Conclusion

By getting to know your peer-to-peer fundraising software and using the features it includes you can boost the performance of your events. You can accomplish this with tools to help fundraising participants raise more, customizing your peer-to-peer event to boost donations, and even capture valuable donor data you can use after your event.

All of the tips shared for getting the most out of your peer-to-peer fundraising software are possible with Qgiv’s peer-to-peer platform. If your current peer-to-peer fundraising solution isn’t working for you, take ours for a test drive!

Author: Abby Jarvis

Abby Jarvis is the Nonprofit Education Manager at Qgiv, a company that’s dedicated to building powerful fundraising tools that empower nonprofits to thrive and grow. In her 8 years at Qgiv, Abby’s become passionate about understanding industry best practices, learning how they can help nonprofits be more effective, and sharing that information with other fundraisers.

How to Get the Most Out of Your Peer-to-Peer Fundraising Software