As your nonprofit continues to grow, one of the major things to think about is fundraising, and how to better engage donors and turn those one-time donors into long-term supporters. And by now, many of you understand that it’s much more than just sending out solicitations, whether it’s direct mail, email, phone calls, text messages or what have you. In order to retain more donors to your nonprofit, you need to treat your relationship with them like you would with any relationship outside of your job; you have to spend time with them, get to know them and make an effort to show them you care.
Hosting a peer-to-peer fundraising event is a great way to engage with your donors. It allows your organization to bond with its constituents and get them more involved in fundraising—which leads to you getting closer to reaching your mission. So, what’s a peer-to-peer fundraising event look like?
Anything that involves your supporters fundraising for your organization (5K race, danceathon, gala, hair shaving, etc.). In this article, we’re going to talk about the following three ways you can improve your peer-to-peer fundraising event:
- Eliminate the registration fee.
- Make everything mobile-friendly.
- Learn from case management.
Moreover, after a booming peer-to-peer event, your nonprofit can gather the data from the event to elevate your brand and showcasing its support and impact to future prospective supports and funders.
Eliminate the Registration Fee
Sure, registration fees can be a sure win for a nonprofit’s peer-to-peer fundraising event, but can it also hinder a nonprofit from reaching its optimal fundraising revenue from said event?
The short answer: probably. Registration fees are fine and well, but it also creates a mindset in the supporters mind that if they paid their registration fee, their “fundraising for the day” deed has been done. Now, they can enjoy whatever activity is lined up for the day. According to the “2017 Peer-to-Peer Fundraising Study” from NonProfit PRO, 63 percent of respondents said that their highest revenue-producing event did not have a registration fee. “The registration fee is not an income guarantee, but rather, in most cases, guarantees lower overall revenue,” the study said. Foregoing the registration fees opens up more opportunities for supporters to get out there and raise more money.
Make Everything Mobile-Friendly
In today’s day in age, mobile is everything—literally! And having mobile-friendly options allows event participants to access everything more easily. Plus, getting rid all the paper makes it easier for the nonprofit to keep track of all the “paperwork.” Integrating all the necessary paperwork—registration forms, fundraising forms, donor profiles—into one seamless app, gets rid of all the grunt work that your volunteers and/or staff members have to put together, gather and organize. And that makes them more efficient at the more important tasks (networking with participants—aka building relationships).
Your participants will thank you, too! Now, instead of filling out a form that could take up to 10 minutes, they can register and donate within minutes of the app. And who doesn’t love easy?
Learn From Case Management
Before the day of your nonprofit’s peer-to-peer fundraising event, it’s ideal for your organization’s leadership team to sit down and strategize how to market the event. Using case management to look at past campaigns and how donors have responded to them is a great start. You get to see how well (or no so well) you past campaigns have done and think about different strategies to employ to take your campaign to the next level.
During the peer-to-peer event, use case management technology to automate processes and track data that comes in day-of. You will get so many supporters attending and participating in your event; gathering this data will give you ample fodder for upcoming initiatives.
Now, after the event, you now have stored data in your system. Remember all the data you collected from your participants? You can use that to create customizable reports. These reports are a great way to track your nonprofit’s progress and impact. You can use them for acquisition and funding purposes. If you’re looking for a grant for an upcoming project, this is the types of information that funders are looking for. You’ll be able to provide them with numbers and supporter testimonials. With data reports that measures your nonprofit’s progress, you’ll be ahead of the game.
Nhu Te is editor-in-chief and content director for NonProfit PRO. She is also the editor of DMAW Marketing AdVents. Reach her at email@example.com.