The lifeblood of any nonprofit is the ongoing effort to acquire new donors. Donor acquisition efforts take a lot of time and investment and often do not produce dividends in the short term. However, it is absolutely vital to have a consistent flow of new donors in order to, at a minimum, replace those donors who lapse through normal attrition. Without a robust donor acquisition strategy, your donor file will shrink and, over time, your revenue will plummet.
There are multiple platforms you can use to acquire new donors:
- Email campaigns
- Direct mailings
- Social media
- Outbound phone campaigns
- Display and retargeting ads
Each of these platforms has their own benefits and pitfalls. The cost of acquisition for a new donor varies with each of these platforms — as do the characteristics of the donors acquired. This is why it is important to develop a clear multi-platform strategy, a good marketing campaign, and the right media mix in order to experience success.
Today, let’s focus on peer-to-peer fundraising which is a form of crowdfunding. Peer-to-peer fundraising, also known as social fundraising, leverages your supporters to fundraise on your behalf. It’s a great way to acquire new donors and reach a whole new audience of people. It is a cost-effective tool to raise money for your organization.
Peer-to-peer fundraising will mobilize your committed supporters and empower them to help share your story with their network of friends, family, co-workers, and community. Instead of your organization soliciting individuals, your loyal donor base are the ones asking others to contribute to your cause. New supporters are more open to your organization and trusting because their friend endorses your organization.
Peer-to-Peer fundraising is a great way to strengthen relationships with existing donors, acquire new donors, and raise more money. Let Infinity Concepts help you roll out a peer-to-peer fundraising strategy to empower your donors to engage their individual communities and raise money for their favorite cause.