Even though you will find many online resources using fundraising and P2P fundraising interchangeably, there is a clear difference between the two. Peer to peer fundraising, which is also known as team fundraising and social fundraising, offers many additional benefits over conventional form of fundraising that’s common on the internet today.
What’s Peer to Peer Fundraising?
It is another form of crowdfunding where the original launcher of the campaign benefits from its donors’ network. In simple words, you will launch a fundraising campaign and then your donors will launch their pages to fund yours. It is multi-tier crowdfunding and offers a many benefits over the conventional fundraising format. Organisations can raise more funds using this method because it allows them to create more resource pools.
The Different Types of Team fundraising
P2P fundraising can take many shapes, and it is on you to pick the one that best serves your cause, the type of organisation you are and your target audience. While there is no limit on how many ways you can launch fundraising campaigns in, some of the most frequently used types are as under:
- Activities
In this type of team fundraising, you will arrange an activity and ask your donors to participate in it. However, the criterion for them to participate in the activity is to launch fundraising campaigns on your behalf.
- Milestones
This fundraiser requires you to set milestones for your donors. These milestones can be in the form of their contributions or personal accomplishments such as growing a beard or graduating from school. Once a donor has achieved one milestone, you communicate with them to congratulate them on their achievement and give news about the next milestone.
- Campaigns
With campaigns, you have to deal with a fixed date on which your campaign has to come to an end. The goals of your donors are tied to your primary goal of the campaign. Each donor’s goal will be to contribute some part of the bigger and primary goal of your fundraiser before the deadline.
Benefits of Team Fundraising
Here are some of the benefits for raising a P2P fundraising campaign as opposed to a conventional fundraiser.
- Multiply Your Funds
When your campaign is not tiered, it only relies on the donations from your direct donors. You can only have so many of them. On the other hand, if your donors have some say in their communities or are influencers on social media, you can greatly benefit from their network by letting them launch their fundraising pages online. In this way, you are drawing funds from your donors and the donors of your donors.
- Broaden Your Campaign’s Outreach
It requires you to put in your best efforts to convince your donors to make ample donations for the cause you support. Your donors might be people who have known your organisation for some time and who believe there is a relationship of loyalty between you and them. On the other hand, it is nearly impossible for you to convince the people in your donors’ networks to feel the same connection with your cause. However, your donors can penetrate into their respective communities and take advantage of their influence and image to convince people to donate to a cause you are standing for eventually.
- Widen the Scope of Your Cause
It is important here to know that using the networks of your donors broadens not only the scope of your campaign but the overall cause. People who are associated with your cause might know more people who want to do something for the same cause. It increases your opportunities to flourish the operations of your organisations beyond national boundaries and into international regions.
P2P Fundraising with Fundraise Digital
The choice of fundraising platform can make your fundraising campaign a success or failure. There is already a lot to manage in a conventional fundraiser, peer to peer fundraising is a different story altogether.
A platform like Fundraise Digital is inevitable to launch successful P2P fundraising campaigns. Fundraise has gamification features to get your donors excited to do extra work for your campaign and cause. It makes fundraising fun, creates a competitive environment and helps organisations with their team fundraising campaigns from start to finish. Fundraise Digital has a free plan for organisations to try the platform and discover its many benefits.
