The Benefits of Peer-to-Peer Fundraising
Human beings have always been social creatures. We’ve satisfied our need to connect with others digitally through social media sites, but this social need has also given us the power to achieve great things by providing a platform for peer-to-peer fundraising.
Sometimes called personal fundraising or social fundraising, peer-to-peer fundraising harnesses the power of a person’s social network to raise money for a personal goal. Unlike traditional fundraising done by nonprofits, peer-to-peer fundraisers raise money through people the fundraiser directly knows.
There are a few reasons this method of fundraising has been causing such a stir lately, and all of them point to an increased efficiency, especially in personal fundraising. For the skeptics in the room, we’ve tried to break down the benefits of peer-to-peer fundraising.
Benefit #1: P2P fundraising lets you bypass the long trust-building process with your donors
This one seems pretty self-explanatory, but it bears mentioning: People are more likely to give to a fundraiser if they know the individual who will be benefitting from that fundraiser. Before, fundraisers had to work really hard to gain the trust of potential donors, establishing that their cause was worth donating to and emphasizing the impact donations would have. But many donors still weren’t convinced their money would be going to the right place, and the fear of their funds being misused kept some people from donating.
Personal fundraising eliminates this fear by allowing donors to clearly see what their impact will be, and building on the existing trust between friends and loved ones. Transparency by fundraising sites also informs donors of any fees, and how much money will actually make it to their loved one’s cause. By cutting out the middle man, peer-to-peer fundraising makes securing those much-needed donations easier.
Benefit #2: P2P fundraising helps you maximize your fundraiser’s reach through digital avenues
Before, getting the word out about a personal fundraiser was limited to how far you could walk or drive to post flyers. So the number of people you could reach was somewhat limited. But today’s peer-to-peer fundraising uses digital means to extend your pool of donors around the world.
You can capitalize on this general idea by adding members to your fundraising team and distributing your fundraiser over multiple platforms. The more people you have on your team, the easier it will be to organize tasks and the more donations you’ll receive. And if each team member shares the fundraiser with their friends and loved ones on Facebook, through email, over the phone, in person and on Twitter, your pool of donors increases exponentially.
Benefit #3: P2P fundraising creates an environment of support both on- and off-line, allowing us to satisfy our need to connect
Unlike organizational fundraising, personal fundraising helps create a community of support for individuals raising money for a cause like paying off medical bills due to an illness. There’s no better way to connect with like-minded individuals than by rallying around a cause you believe in for a person you care about. And that’s the beauty of peer-to-peer fundraising: When you need it most, you discover just how many people are willing (and eager) to help you reach your goal.
Start your own peer-to-peer fundraiser today!