Nonprofits across North America are exploring new types of peer-to-peer fundraising programs from do-it-yourself campaigns to attention grabbing new proprietary events.
Too many recent efforts haven’t performed as hoped.
One key may be that groups haven’t taken the time to answer these three basic questions:
1. What is the goal of the program?
The answer to this question can’t simply be ‘to raise more money’. Having a goal beyond raising money is likely to give your program a much needed strategic direction. Without it, experts say you’re better off simply doing direct outreach to donors through an annual giving or major gifts program.
2. Who is your key audience?
Many nonprofits mistakenly believe that their peer-to-peer programs will appeal to nearly all of their supporters. But new initiatives are much more likely to connect if they target a specific demographic — with communications tailored to suit.
3. What is your risk tolerance?
Some organizations jump into creating new initiatives expecting big initial results (often based on management excitement and misunderstanding of “overnight successes” like the Ice Bucket Challenge.
Managing expectations is key — if your organization’s executive leadership or board is expecting big results right away and isn’t ready to accept the fact that new programs often take time to build, peer-to-peer might not be the best fit for you.
A new program might seem like a great idea for your organization. But without taking the right strategic steps up front, the program is likely to fall short of expectations.
Take the time at the beginning of the process to establish your goals, identify your audiences and ensure that your organization is ready to take this big step.
For more insights on how your nonprofit can launch a successful do-it-yourself fundraising program, download our free new e-book,today!