Starting Peer-To-Peer Fundraising: What Are The Steps Involved?

October 11, 2022
Photo by Alexander Grey on Unsplash

Peer-to-peer fundraising registers as an exciting option for fundraisers. It’s hard to view it as anything less considering its effectiveness. This fundraising model will bring about an impressive result, provided you take note of certain things.

In line with this, you have got to understand the steps involved in peer-to-peer fundraising. You need not look any further, as this article does justice to the subject matter. So, you should spare some time to digest the details communicated herein.

It Begins With a Good Plan

After choosing to go with peer-to-peer fundraising, the next port of call is drafting out your plan. This planning should be done as early as possible since it involves mustering people. You have to consider many things – some of which will be subsequently discussed. At the point of planning, you have to define your fundraising theme, goals, and vision.

Another important thing you shouldn’t overlook is weighing in on the possible challenges that might be encountered. This measure will be helpful in proactively addressing issues when they eventually arise. It’s all about “dotting the i’s and crossing t’s”, so to say.

Select a Peer-To-Peer Fundraising Platform

A peer-to-peer fundraising platform can be a huge time-saver and valuable tool on the whole. This is because it presents you with some exciting resources required to run the campaign successfully. You can get customized event pages, leaderboards, brand elements, etc., from such platforms.

From the foregoing, it is quite easy to understand the relevance of P2P fundraising platforms. More so, most of the platforms enable social media and email campaign integrations. This will further enhance communication with the peer-to-peer fundraisers and donors.

However, you should not just jump into selecting one without doing your due diligence. You need to compare and contrast the cost and available features of the different options. Also, you can spare some time to read reviews – as provided by users – on specific platforms.

Recruit Your Peer-To-Peer Fundraisers

The recruitment of peer-to-peer fundraisers is a step that must be carefully done. You should not be too quick to conclude that your friends or close associates will readily join the drive. A vetting process has to be designed to get motivated fundraisers. Plus, you have to apply some degree of tact while trying to get people on board.

You can expressly request that some of your prospects commit to the cause through word-of-mouth. Besides, you can look to engage your supporters or followers on social media. In this case, a series of related promotions can be shared in the weeks leading to the main call. This way, you can evaluate the interest of people that react to the (promotional) postings.

Empower The Selected Fundraisers

Once you have recruited your peer-to-peer fundraisers, you should reel out a plan to empower them. This cannot be sidestepped, irrespective of how motivated the fundraisers may be. For one, the training is required to ensure that they align with the vision and mission of the project. You should provide them with the resources carrying those details beforehand.  

Secondly, it will give a sense of oneness to the fundraising campaign. To this end, you will need to design unique templates that can be used for social media and email communications. You can also furnish them with graphics, content, etc., that they will regularly post. All this will enhance communication with prospective donors and even promote credibility.     

Pick And Organize a Peer-To-Peer Fundraising Event

Organizing a peer-to-peer fundraising event is another critical step you have to take. This is informed by the need to get participants together in one place or committed to doing a particular activity. Bringing the people to a social event/activity keeps this fundraising model to its name.  

You don’t have to do it alone – ensure you engage the frontline P2P fundraisers. You should put the characteristics of the prospective attendees into perspective while planning the event. It’s as simple as asking them to suggest the type of event those within their close circle will be interested in.

Though the virtual space can be precious in this regard, you don’t have to leave it at that. It is always good to complement your effort with some physical (on-site) event. Again, the event does not have to be a one-off but make sure you do one (event) at a time. You can capture an appreciable number of fundraisers by organizing various events.

Some interesting P2P fundraising events include sports competitions, online games, viral challenges on social media, dance parties, etc. You should understand that proper planning is of utmost importance to hosting these events. It is yet crucial that the attendees know the motive behind organizing the event. You have to be in charge of the event communication and planning.  

Follow Up On Your Peer-To-Peer Fundraisers

You might be getting notable results through your peer-to-peer fundraising setup, but this shouldn’t stop you from following up on the fundraisers. Many fundraisers who have adopted this model often fail in this regard. Neglecting your peer-to-peer fundraisers could be a misstep that hinders the campaign’s progress.

The reverse – proper follow-up leading to sustained progress – is also true. In essence, you should learn to monitor the performance levels of your P2P fundraisers. This is where the leaderboard integrated into the P2P fundraising system comes in handy. By frequently monitoring the activities, you will be able to quickly correct any anomaly and maintain the integrity of the campaign.

That said, it shouldn’t just be about the fundraising aspect. You should spare time to check up on your P2P team – through regular engagement. This alone can motivate them a great deal and keep their commitment level pumped up.

Conclusion

You should watch your P2P fundraising drive return great rewards as you implement them. More often than not, what you get from your P2P fundraising drive will be a function of the effort you put in. This is why you cannot afford to lose sight of the essential details communicated in this article.

Leave your vote

Leave a Reply

Your email address will not be published.

FREE: PROMOTE YOUR UK STARTUP

UK Startup Founders: We want to interview you.

If you are a founder, we want to interview you. Getting interviewed is a simple (and free) process.
PROMOTE MY STARTUP 
close-link

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.

Don't Miss

22 Top Bristol Based Medical Firms

This article showcases our top picks for the best Bristol

Buckinghamshire’s 9 Most Impressive & Successful VP’s in the Software Space

At Best Startup UK we track over 130,000 UK startups