Crowdsource Your Fundraising
Tuesday, 24th November 2015 at 11:07 am
Want to launch a new Peer 2 Peer fundraising event? Then online fundraising platform, FrontStream Asia Pacific, understands the changing landscape and growth points for increasing online charity income, writes Managing Director – Asia Pacific, Dr Steve Francis.
Do you remember a time when people-powered fundraising was largely about door knocking and tin shaking and, of course, televised telethons (pause for time warp reflection). All the big name charities in Australia were visibly engaged in these types of campaigns but as our heads tilt closer to our smartphones so does the way we fundraise.
How does Peer 2 Peer Fundraising Work?
At FrontStream Asia Pacific we work with fundraising organisations in Australia, New Zealand and beyond via our online fundraising platform, so we know about the changing landscape and growth points for increasing online income. Peer 2 Peer campaigns have championed “fundraising online” for many years now and are now raising more dollars for causes than ever before.
More and more people are getting behind the work of charities to raise money, usually through completing a personal challenge like a run, walk or swim, or even by fasting or other “sacrifice” style challenges. Donations are raised when a personal fundraiser taps into their social network and asks for donations to their campaign, and generally a word of (sobering) encouragement. Just as important, is the role of the charity in explicitly connecting the money raised by the donor, with the outcome and good that will be achieved.
Converting Donors to Regular Givers
This is how a supporter can be converted to becoming a valuable regular giver for your organisation as well. People are more likely to donate to a charity when asked by their friends and family, this endorsement quickly bypasses the credibility risk, resulting in a double reward for the individual fundraiser and the charity. Our client data suggests that up to 55 per cent of Peer 2 Peer campaign donors are new to the charity, and we know that collecting new donors is a common KPI for every fundraising organisation.
Concurrently, social media platforms depend on users to create personal and engaging content so everyone can stay online for longer, ergo Peer 2 Peer fundraising has flourished in a period of digital and social revolution.
P2P and Social Media
So we know Peer 2 Peer and social media are a fundraising dream match, but I can tell you that the benefits have the potential to continue delivering long after the campaign has finished. Our data shows that the average donor gives $50 whereby the average Peer 2 Peer fundraiser raises about $500 per campaign. Fundraisers collect more money for charities with less effort, plus one in four fundraisers repeat the campaign each year. Fundraisers are your cause ambassadors and advocates, essentially Peer 2 Peer fundraisers are more engaged than typical donors which is the model of excellent donor engagement!
Tons of Data
Online fundraising campaigns capture a lot of data and analytics about user behaviour, collecting evidence that informs future campaigns to continuously improve donor engagement and retention. At FrontStream Asia Pacific we have noticed growth in the uptake of digital functionality year on year from our Peer 2 Peer campaign clients. More funds are filtering through the FrontStream online payment gateway as well as through campaign Apps utilised by our clients such as The Mater Foundation, Guide Dogs SA, The Fred Hollows Foundation, Febfast, Bowel Cancer NZ, Leukaemia and Blood Cancer New Zealand and the Leukaemia Foundation through their famous “World’s Greatest Shave” event.
Some Tips on Hosting a P2P Event
If your organisation does not host a lucrative Peer 2 Peer event yet, you may want to consider the following tips to ensure best results before asking donors to sign up. A good foundation starts with a strong supporter and donor base because it’s this group who are most likely to convert to being fundraisers. Make sure you have a Peer 2 Peer fundraising worthy event, we find endurance events such as runs, walks and bike rides work well also deprivation events such as fasting, head shaving and “sobering” can be effectively engaging. Lastly, create content to support your fundraisers such as suitable images for promotional use on social media, loads of information about your organisation and the event and develop your own campaign social pages to keep everyone up to date.
Choosing the Right Platform
Choosing the right Peer 2 Peer fundraising platform is an important decision and we continually work on developing our offering to future proof our clients fundraising capabilities. We can see that Peer 2 Peer fundraising is growing strong online! It’s less about shaking tins and more about rolling tallies of donations.
Giving makes us all feel good and feeling connected to a community of givers can make us feel even better, more connected givers gives us hope for the greater good, a sense that we are making a difference, and that is really what charity is about.
If you work in a Not for Profit organisation looking to launch a new Peer 2 Peer fundraising event or you want to find out more about our platform offerings and ongoing account management, go to www.frontstream.com.au.
I look forward to finding fundraising solutions for your cause.