This is the third installment in our 5 Keys to a Winning Giving Tuesday Strategy series (Read our first key here).
Following the hype of heavy consumerism days Black Friday and Cyber Monday, #GivingTuesday is a breath of fresh air for many people. They get excited about the opportunity to GIVE for a change.
With so many nonprofits competing for donations during that 24-hour period, the well-known advantages of word-of-mouth marketing are especially important.
If someone wants to give but doesn’t have a favorite charity, they’re likely to be influenced by their peers’ recommendations. Equipping your fundraisers with a simple online page of their own that they can customize (while still giving you—the nonprofit—control over your brand and story) has several benefits:
- Leverages social networks – a powerful platform for fast, widespread connections
- Legitimizes and simplifies the online giving process for donors
- Keeps fundraisers from having to manage the funds they raise
- Allows teams to compete in their fundraising goals
- Keeps not only the nonprofit’s but also the fundraiser’s progress toward their goal in front of donors with real-time goal meters
- Allows all funds from all fundraisers to flow into a unified campaign, while still maintaining each source’s details separately.
The Influence of One Social Linchpin
#GivingTuesday often fuels intense competition between groups of people. That sense of urgency drives the expert use of fundraisers’ social networks and potentially their networks’ networks.
This graphic illustrates a true story of the power of engaging just ONE social influencer’s social networks,
shared by our friends at Pollination Group:
ABCH’s Peer-to-Peer Results
Jay Boyd, Director of Development at Alabama Baptist Children’s Homes (ABCH) agrees. He believes this social aspect of fundraising adds an even more valuable benefit to peer-to-peer campaigns than simply the dollar value of each #GivingTuesday donor. He has seen that peer-to-peer fundraising grows your donor base, maximizing the lifetime value of donors.
“Engaging new first-time donors is the real value of peer-to-peer fundraising.”
To quickly recap ABCH’s story, their #GivingTuesday success began in their first year of participating, when they set a goal of $2,400 and raised over $16,000. Every year since, they have continued to see explosive growth.
Using iDonate’s newly launched peer-to-peer platform in 2016, their third #GivingTuesday, was just one of several strategies that continued the revenue lift. In 2016 and 2017, peer-to-peer donations totaled about 20% of their total #GivingTuesday revenue. Practice makes perfect, because with only 2 additional fundraising pages, they almost doubled their P2P donations and number of donors.
Even more astonishing, in 2017, nearly half of their donors were first-time donors.
What is the Value of First Time Donors?
Jay wondered if these first-time donors, many of whom may have been simply supporting a friend rather than really becoming a follower of the organization, would pan out to be of future value.
He discovered that before #GivingTuesday 2018 rolled around, 15 of those first-time donors had made subsequent donations totaling over $5,000! This speaks well of ABCH’s welcome communications that continue to engage new donors, but it also shows the potential value of campaigns that encourage new name acquisition.
Put the Power of Peers to Work This #GivingTuesday
Ready to try peer-to-peer fundraising this #Giving Tuesday? There’s no telling which of your first-time donors will become fundraisers in subsequent campaigns and turn out to be a social linchpin that exponentially reaches where your organization might never be able to go without them.
NEXT UP: #GivingTuesday Key #4 – Goals and Incentives Put the “Fun” in Fundraising