Peer-to-Peer Fundraising on Social Media: An FAQ Guide
Modern society has embraced social media in a variety of ways—using it to stay in touch with loved ones, keep up with the news, and directly interact with brands online. Fortunately for nonprofits, this means there are more opportunities than ever before to engage with supporters and encourage online giving.
With an informed approach, your organization can harness the power of social media to connect with more people and empower them to raise funds on your behalf. In this guide, we’ll cover some key frequently asked questions about peer-to-peer fundraising on social media to set you up for success:
What is peer-to-peer fundraising?
What are the benefits of P2P fundraising on social media?
How do you promote P2P fundraising on social media?
How do you support peer-to-peer fundraisers?
By 2027, the number of worldwide social media users is expected to reach 5.85 billion. With this in mind, now is the time to broaden your nonprofit’s fundraising horizons and tap into the rising potential of platforms such as Facebook or Instagram. Let’s start with the basics.
What is peer-to-peer fundraising?
According to GoodUnited, there are several possible reasons that motivate donors to give to a nonprofit. For instance, they may be inspired by your mission. Or, they may choose to give in support of a loved one who is committed to your cause.
Peer-to-peer (P2P) fundraising is a fundraising approach that involves individual supporters of a nonprofit creating personal campaigns to solicit donations on that organization’s behalf. Often, these supporters contact family members, friends, and other people in their personal networks to encourage them to give.
How does P2P fundraising work on social media?
Peer-to-peer fundraising is an effective strategy for nonprofits looking to raise funds without putting too much of a strain on their budgets. While these campaigns traditionally involve an in-person event, such as a walk-a-thon, conducting peer-to-peer fundraising on social media allows more people to participate, regardless of where they’re located.
Several platforms, such as Facebook, provide fundraising tools that make it easy for nonprofits to involve users in their fundraising efforts. All a supporter needs to do is log in, create a fundraiser, and select your organization as the recipient of donations. Then, they’ll share this fundraiser with their connections on the platform to generate revenue for your mission.
What are the benefits of P2P fundraising on social media?
Peer-to-peer fundraising can yield significant funds without expending too much of your staff’s time and resources, since your supporters are taking it upon themselves to fundraise. Additionally, conducting the entire campaign on social media cuts down on any costs that might be associated with an in-person event, such as booking a venue. This makes social media P2P fundraising an effective way to:
Reach more potential supporters.
Strengthen relationships with existing supporters.
Boost awareness of your mission.
Enhance your social media presence.
Bypass processing fees that are common on other P2P platforms.
Innovation is essential to the long-term success of your nonprofit. As social media continues to open up new fundraising opportunities, it’s up to you to steer your team toward these promising avenues. If you’d like to learn more about the traits of an effective nonprofit leader, tap into Mission Capital’s expertise in this leadership guide.
How do you promote P2P fundraising on social media?
While peer-to-peer fundraising on social media can be an impactful venture, you’ll need to recruit passionate participants to set your campaign up for success. According to Double the Donation’s rundown on nonprofit marketing, social media is a helpful way to share stories that connect users with your cause and inspire them to take action.
Reach out to potential peer-to-peer fundraising participants by:
Specifying how your nonprofit will put donations to good use. As you post information about peer-to-peer fundraising opportunities, be sure to include the impact gifts will have on your mission. For instance, you could mention that all revenue generated will go toward providing emergency food and supplies to an area following a natural disaster.
Segmenting your communications. Keep track of your interactions with users and collect important details about your audience, including engagement history, connections, and interests. This way, you can create posts that appeal to your most dedicated supporters, encouraging them to fundraise on your behalf.
Offering incentives to supporters. Add a little extra inspiration for your peer-to-peer fundraising participants by coming up with rewards for those who raise a certain amount for your nonprofit. This could be anything from branded merchandise to free tickets to your next event.
Additionally, you can even consider creating ads, such as Facebook ads, that promote peer-to-peer fundraising. This way, you can better direct your messaging toward specific users based on characteristics such as location and interests.
How do you support peer-to-peer fundraisers?
Once you have users ready and eager to create social media fundraisers for your nonprofit, ensure that they have everything they need to succeed by:
Sharing tips throughout their fundraiser. For some users, it may be their first time raising money for a cause. Help them build a strong foundation by providing fundraising tips, such as sharing their personal connection to your nonprofit, to appeal to more potential donors.
Providing a brand guide. Since your supporters are fundraising on your organization’s behalf, you’ll want to keep their efforts consistent with your overall branding and visual style. Consider creating a guide with your logo and high-quality images that users can incorporate into their individual fundraising pages.
Creating templates for them to use. Make it easy for your peer-to-peer fundraising participants to reach out to their personal networks by producing messaging templates that they can adapt and use. This has the added bonus of ensuring that their language is consistent with your nonprofit’s voice.
By supporting your peer-to-peer fundraising participants on social media, you’ll be able to boost their results and cultivate lasting relationships with them. This ensures that they remain enthusiastic about fundraising for your organization in the future.
After each successful peer-to-peer fundraiser on social media, take the time to thank your supporters for all of their efforts. For instance, if a user created a Facebook birthday fundraiser for your nonprofit, follow up with a sincere message expressing appreciation that they dedicated their special day to your cause. Doing so allows you to build a solid base of social media supporters invested in your mission and committed to powering your impact.