Nonprofits come to me regularly asking me “How do I find new donors and how do I find them fast?”
My response: “Mobilize your donors, multiply your impact” (which just so happens to be Peerfect Fundraising Solutions’ motto!).
What do I mean by this?
Your current donors are your most prominent advocates for your cause; they are already invested in your mission and trust has been built over time. It is widely known that your existing donors are your best bet for increasing ROI. With the time, money and effort that goes into prospecting for new donors, many who work in the development field question the returns on seeking new funders.
Giving by individuals in the US accounts for 70% of all giving, totalling an estimated $324.10 billion in 2020.*
Therefore, when creating a fundraising plan, individual donors are one of your most sustainable funding components. According to The Fundraising Authority, “individual fundraising should form the backbone of 90% of all development organizations that exist today.”**
What is P2P?
One fundamental way to mobilize your existing donors is through peer to peer (P2P) fundraising: which is any fundraising effort that relies on peers reaching out to each other on behalf of a cause. Your supporters fundraise on your behalf by reaching out to their networks. P2P fundraising is a powerful fundraising strategy for any cause.
43% of Millennials are donating through P2P.***
P2P fundraising has the power to mobilize your current donor’s network to, in return, multiply your impact. Your current supporters are some of your most ideal donors, as their networks contain like-minded individuals. By mobilizing your existing donors to fundraise on your behalf, you are gaining an introduction to people who might not have otherwise connected with your organization.
With the rise in social media and the effects of Covid bringing the world online, it’s no surprise that P2P fundraising has seen a boost in popularity. After all, this fundraising strategy relies on social networking. Social media makes it easier than ever for your supporters to appeal to their social networks directly!
When looking at your fundraising plan, do you have peer to peer strategies integrated? If not – you’re missing out!
Download my free Peer to Peer Comprehensive Checklist to successfully launch your next campaign: (DOWNLOAD- COMING SOON)