The 4 Reasons Peer-to-Peer Fundraising Works
Peer-to-Peer fundraising is not just a great way to raise money for you organization, but for some it has made all the difference in their fundraising efforts. Take peer-to-peer cycling initiatives for example. The Pan Mass Challenge in Massachusetts, California’s Aids/LifeCycle, and Ohio’s Pelotonia, have all raised millions of dollars. And let’s not forget the Ice Bucket Challenge that brought in over 100 million dollars for ALS.
So why does Peer-to-Peer fundraising work so well? There are a couple reasons:
1. Friends Asking Friends Works
First, and most importantly, friends asking friends to donate results in about 10 times higher response rates and 52% higher donations than a cold call and email. Friends asking friends also expands your reach exponentially. Think about it: if you have 5,000 contacts, those 5,000 contacts know hundreds of thousands of people! You can do the math. Peer-to-peer fundraising equals big bucks for charity!
2. Not Age Specific
People tend to think that peer-to-peer campaigns only target Millennials who spend a lot of free time online. The statistics tell a different story: Over 80 percent of Millennials are receptive to participating in P2P, and over 85 percent of Gen X, 77 percent of Boomers, and approximately 63 percent of mature people (ages 70 and up) are receptive to this fundraising method. St. Baldwick’s Foundation is a good example of P2P that spans all age groups. Back in 2000, the organization started a head shaving campaign to raise funds to fight childhood cancer. Today, literally thousands of head-shaving events take place around the world involving people of various ages. Their website invites everyone to “Be a Shavee.”
3. Allows for Creativity
The “next generation” donor wants to do things differently. They want to be in control, take action, and be creative. Peer-to-peer fundraising allows them to do just that! Each fundraiser can use their imagination to create and promote their own campaign while supporting your great cause.
Choice Humanitarian, for example, started a peer-to-per campaign to end poverty and they give fundraisers the freedom to raise money in their own way. One fundraiser says he will do pushups to end poverty and another commits to petting lamas 2,000 times.
4. Builds Lasting Relationships
Beyond people donating, P2P has the ability to make one-time donors fundraising advocates. In the long run it enables supporters to strengthen their relationship with your organization. The Polar Bear Plunge, for example, started out as a small charity event twenty plus years ago, but has kept donors participating and spreading the word year after year. Last year, close to a 10,000 people took the plunge on a cold January day.
Our digital world has made possible a new era of fundraising, and it’s pretty amazing both for organizations, and for participants! If you’re ready to get started, there are many peer-to-peer solutions to choose from! See our list of 5 Peer-to-Peer Fundraising Solutions.