Managing donor data is essential to successful peer-to-peer fundraising for nonprofit organizations. With a clear plan and access to the right donor management software, you can easily identify and nurture active fundraisers. You can also connect with those making an online donation to your cause for the first time.
A sophisticated donor management strategy and streamlined nonprofit CRM helps your organization:
- Track donor interactions
- Evaluate fundraisers’ performance
- Utilize segmentation to personalize pre- and post-campaign communication
- Steward new donors more effectively
Here, we’ll explore the value of donor management and donor relationships in peer-to-peer fundraising and provide practical tips for implementing a successful strategy.
What Is Donor Management?
Donor management is the process of tracking, engaging, and stewarding donors to build strong relationships and maximize supporters’ lifetime value.
At Classy, we believe if online fundraising conversions aren’t followed up with intentional outreach and strategic donor stewardship tactics, it risks leaving potential donors untapped for your organization.
Access to accurate donor information is key to creating a sustainable and successful peer-to-peer fundraising strategy. Having accurate information is also vital for establishing meaningful relationships with your supporters.
What’s the Point of Peer-to-Peer Fundraising?
Peer-to-peer fundraising is an extremely effective, efficient way to raise money and source new supporters for your organization. In Classy’s State of Modern Philanthropy report, we found that time-based campaigns with a peer-to-peer element raise on average 3.8x more than all other time-based campaign types. Plus, four out of five donors who donate to a peer-to-peer campaign are brand new to the organization.
When you factor in the impact of higher donation volume and wider reach on the ability to execute your mission, the value of peer-to-peer fundraising almost goes without saying. Plus, peer-to-peer campaigns create a sense of ownership and investment in your cause. This leads to increased levels of supporter engagement and long-term donor retention.
At its core, a peer-to-peer campaign is a stage for storytelling and an opportunity for meaningful connection. Your nonprofit fundraising team has the chance to distill your brand, mission, and impact into a succinct narrative that supporters can share with their personal networks proudly. That trickle-down effect is extremely powerful in inspiring people to join your community.
5 Reasons Why It’s Worth Tracking Your Peer-to-Peer Donor Data
1. Craft Segmented, Tailored Outreach to Re-engage and Retain Generous Supporters
It’s crucial to know who engaged with your appeal and if those individuals are interested in further supporting your mission following a peer-to-peer campaign. To begin that process, you need to know who fundraised on your behalf or donated to a supporter’s personal fundraiser. You also need to know how to connect with them.
Then, after the initial discovery steps, it’s critical to know each supporter’s level of previous involvement, giving history, and volunteer history with your organization to reach out in a way that resonates. Craft a personalized, intentional message that captures their attention and expresses your gratitude for their contribution.
From there, customize your message as you see fit to present opportunities for re-engagement, whether through a volunteer event, upcoming campaign, or branded content on social media.
2. Pivot Your Strategy in Response to Timely Giving Trends
A real-time analysis of campaign performance and levels of donor engagement is vital for identifying what’s working and what’s not. Doing so allows you to shift or redefine your strategy as needed.
One crucial element of campaign success is capitalizing on timely giving trends. If your campaign doesn’t perform as you hoped, your donor data can provide you with the contact information to learn firsthand what donors and fundraisers loved (or didn’t love) about the experience.
For example, if they let you know that their preferred payment method wasn’t available on your donation form, you can immediately incorporate that option into your campaign with some back-end adjustments or take a mental note for the next time.
Pro Tip: Keep close tabs on today’s donor preferences, like preferred payment types, communication channels, and campaign types. Staying current on the latest fundraising trends can help guide your decision-making, ensuring donors are satisfied with the donor experiences you serve.
3. Understand Your Target Audience Better and Identify Ways to Expand Your Reach
Different generations of donors look for different things. Specifically, regarding next-gen donors, Classy’s Why America Gives report found that they are:
- 2.7x as likely to host an individual fundraising page on behalf of an organization they support
- 3x as likely to advocate on an organization’s behalf than traditional donors
- 1.6x as likely to be motivated to donate following a sudden news event or crisis than traditional donors
If your cause aligns with current events or emergency response, these insights might inform why you see a majority of Gen Z donors in your peer-to-peer database. And while that demographic is becoming increasingly philanthropic, engaging various donor profiles is critical.
Once you identify who your primary donor base is, you can start strategizing how to target other generations more effectively.
4. Identify Donors With the Potential to Increase Their Impact
One of the most important factors of fundraising sustainability is asking existing supporters to increase their involvement over time. Their support safeguards your revenue streams and opens the door to powerful relationship-building opportunities.
A simple way to increase loyal fundraisers’ impact is by inviting them to subscribe to a recurring giving plan. Nailing down your recurring donor acquisition strategy may feel overwhelming, but your donor data will streamline the process and guide the way.
Once you know who’s a potential candidate and how they prefer to engage with your cause, get up to speed on the talk tracks, resources, and communication styles that feel most comfortable to them.
From there, emphasize the benefits and impact of becoming a recurring donor. Consider highlighting testimonials from others who have already joined your recurring community. You may also consider creating a customizable email template for recurring donation appeals since they’ll occur regularly.
5. Recruit Top-Performing Fundraisers to Advocate for Your Cause
When someone is willing to dedicate time and effort to a peer-to-peer campaign for your cause, it’s a sign that they feel a deep connection to your work. Capitalize on that connection to plant a seed and discover if they’ll take their advocacy to the next level.
Whether through social media, speaking opportunities, or just casual conversation with friends and family, ask your top-performing fundraisers if they’d be willing to spread the word on behalf of your mission.
Equip them with a fundraiser toolkit or brand book that tells them everything they need to know about your story. You could also invite them to your community events to get face-to-face time with your beneficiaries. These events also provide a chance for supporters to connect with others who care about your cause as much as they do.
3 Nonprofits Making the Most of Classy & Virtuous to Fuel Peer-to-Peer Success
1. Portland Rescue Mission
Portland Rescue Mission has been there to give hope and restore life to men, women, and children struggling with hunger, homelessness, and addiction since 1949.
Through effective peer-to-peer fundraising and many other campaigns on Classy’s fundraising platform, the nonprofit can offer meals and shelter, comprehensive recovery, vocational training, and community transitions.
2. Oasis for Orphans
Oasis For Orphans meets an immediate need to bring children in Kenya into an environment of safety and belonging through a holistic development model.
The nonprofit utilizes a unique model to develop kids holistically. Specifically, the program gives children hope and molds them into community leaders. This program is supported by peer-to-peer fundraising and a balanced mix of other revenue streams.
“Classy helps our donors know us through front-end donation pages that present who we are. Virtuous helps us know our donors through internal systems that keep us organized. Combined, we have everything we need to accomplish our goals!”
– Oasis for Orphans
3. Kids Around the World
Kids Around the World is on a mission to share God’s transforming hope with kids and their communities through food, play, and stories. The team creates environments where kids will experience hope through a daily meal, a safe place to play, and stories from the Bible—none of which would be possible without effective fundraising campaigns.
“The seamless integration between Virtuous and Classy is a great example of how utilizing the strengths of each platform can create a powerful solution. By combining the expertise of Virtuous in donor management and Classy’s donation platform, we’re able to save time and resources, while also maximizing our fundraising efforts.”
– Kids Around the World
Refine Your Donor Management Process Now, and Reap the Benefits for Years to Come
Proactively defining your data collection and organization processes is a huge piece of the fundraising puzzle. Without the right donor management system and fundraising tools, that can be an impossible challenge.
Explore how Classy and Virtuous can help solve any current fundraising software or donation management roadblocks you experience, and lean on our data-backed best practices to guide your strategy for 2023 and beyond.
