How to run a successful virtual or peer-to-peer fundraising event
Peer-to-Peer fundraising is a popular crowdfunding method that allows your community and volunteers to raise money on behalf of your organization. Peer-to-peer campaigns are a great tool to engage your supporters, involve a wider network, acquire new donors and raise more money for your cause.
Traditional peer-to-peer event types are walks, rides, runs and boxing events while virtual events that became very popular since 2020 are bike-a-thons, virtual game nights, virtual races/walks and online galas.
Running a peer-to-peer or a virtual fundraising event this year is even more important due to a several reasons:
- People crave new experiences and meaningful connections
- Your team has more time to prepare for the event than last year
- Peer-to-peer events are a great opportunity to raise awareness about your cause and mobilize a large crowd
- FundRazr’s peer-to-peer events functionality can help you effectively run and manage a successful campaigns for free
How to make your peer-to-peer or a virtual event a success?
“80:20 Pareto Rule” of Fundraising
Spend 80% of time showing and telling the results of your work and only 20% asking for support. Use a variety of content like images, videos, and updates to show the positive impact. This will help make your community feel involved, appreciated and, as a result, much more engaged.
Post updates and leaderboard results
Frequent milestones and results updates will help motivate teams and participants to stay on track and mobilize their efforts. Keep your supporters informed by showcasing the tangible outcome of their fundraising work.
Prepare to become a cheerleader
Peer-to-peer fundraising will require active cheerleading and participation of your team. Take advantage of your supporters’ competitive spirit and turn them into a positive energy. Prepare to be the ones that light the fire!
Maximize your communication channels
Optimize your message distribution network and communication channels to reach the largest pool of people. Ask your current supporters to share the campaign within their circle. They can unlock a new pool of donors, bigger contributions, and more awareness of your cause.
Speak with a crowdfunding strategist
Let our digital fundraising strategists help you design the ideal plan for your campaign success in a 1-on-1 session. Our strategists can help you with questions like how to utilize crowdfunding in a post-COVID era, how to write a compelling story, how to promote the campaign and more.
Define your broadcasting, narrowcasting & dialog channels for your communication
Turn your participants and donors into the heroes of the story
Impact statements and donor-centric storytelling will help you overcome one of the most common peer-to-peer fundraising donor acquisition limitations which is the donor retention. Very often the new donors give not because of the cause but because of their friend and never repeat their donation after the campaign is over.
Define your “Units of impact” – an arbitrary measure that helps turn your work into a tangible result (ex: saving a puppy, plant a tree, etc)
Explain how participation will impact the mission
Show results through tangible wish-list items or perks
(ex: $10 = plant 5 trees)
Celebrate the impact with Updates
Use the right feature set that will contribute to your peer-to-peer success
Engagement and admin effectiveness for you and the team:
- Storytelling capabilities
- Impact communication tools
- Internal messaging system
- Website integration
- Content control tools
- Roles and permissions
- Tax receipts
- Detailed reporting
Easy enrolment and community engagement functionality for your participants:
- Individual enrolment
- Team enrolment
- Personalized story
- Social sharing to public and private
- Progress milestones
- Media gallery
Get inspired by these amazing peer-to-peer and virtual events on FundRazr
Virtual cycling event: $200K+ raised for World Cancer Day: click here
Virtual run for Romania: $20K+ raised: click here
Virtual Spin-a-Thon: 66K+ raised: click here