Many nonprofits already have a peer to peer fundraising platform. Typically, the peer to peer system is a part of a more extensive, integrated donor management system. The primary benefit of an integrated approach is data management. But many integrated peer to peer systems fall short, leaving the charity from truly realizing the potential of their fundraising campaigns. Many organizations will choose to tolerate their current peer to peer fundraising platform rather than make the change because it is part of their donor management system. Plus they fear transition costs and complexities.
But, as the economy looks increasingly questionable, nonprofits need to prepare for a long period of time when government funding and major gifts will become unavailable. The good news is that peer to peer fundraising has proven to be “recession-proof.” This is no surprise as I’ve seen communities rally around the causes that they support even during lean years.
Should you make the change to a new peer to peer fundraising platform?
At this point, most organizations have some peer to peer fundraising capability. The thought of switching can be scary.
- What are the costs?
- Can we learn something new?
- Will our supporters buy into a new system?
- How does this impact our back-office?
Ultimately all of these concerns are superseded by one thing – a better peer to peer fundraising system can substantially increase your fundraising revenue.
Don’t be afraid. Making the change to a new peer to peer fundraising platform has never been easier.
Five reasons to replace your current system with a dedicated peer to peer fundraising platform
1. Cost
Peer-to-peer platforms that are part of a more extensive donor management system have rigid pricing structures. Normally they include a monthly fee and a platform fee that is X percent of the money raised in the campaign. A dedicated platform like SWEET! is priced to fit the needs of your charity.
The pricing model can be flat fees, platform fees or a combination. This type of pricing model allows your charity to maximize the ROI of its peer to peer campaign by choosing the right pricing for you.
2. Limitations
Most integrated platforms have a limited set of features that force you to alter your campaign and limit your creativity.
3. Flexibility
A platform dedicated to peer to peer like Sweet! can offer custom features to help your peer to peer campaign standout. Examples of such features are:
- Minimum fundraising requirements
- Product Sales
- Incentive prizes
- Promo Codes and marketing campaigns
4. Keep more money
Choosing your pricing model allows you to structure a price that maximizes your revenue. Why pay 7% if you know you will raise $100k when you can pay $4000.
5. Integration is easy
Most donor management platforms have API’s that talk to 3rd party software. Integrating a dedicated peer to peer platform, where you have total control of the features you need, allows you to have the best in peer to peer without sacrificing data integrity.
If you have been thinking about finding a new peer to peer fundraising platform that integrates seamlessly into your donor management system, it’s not as scary as you may have thought. Switching to the right fundraising software platform that supports your needs is an important move that can be done with ease.