Boosting the effectiveness of your peer-to-peer (p2p) fundraising campaigns is not as difficult as you might think. Taking some time to gather, analyze, and use data from your past campaigns or events can help you uncover trends and find new opportunities to improve your fundraising results.
Here are some simple ways you can use data from your constituent relationship management (CRM) system to take your peer-to-peer fundraising campaigns to new heights:
Determine when to start recruiting
Dig into past years’ campaign or event data to find out when your top performers registered. Your biggest fundraisers typically will register much earlier than others. So, while it’s usually a good idea to open registration as early as possible, consider waiting to focus on a multi-channel recruitment approach around the time when your biggest supporters typically register so you can use their enthusiasm as a launching point.
Decide where to focus your efforts
If possible, use source codes in all digital recruitment efforts so you can attribute registrants to specific marketing channels. This will help you determine which strategies are worth keeping (and even putting more resources toward), and which to leave behind.
Also, review your fundraising/revenue based on a person’s connection to you. In many cases, those who raise the most money are a small percentage of your participants. This is not to say that you don’t care about other participants, but it does let you know where you might want to focus more of your recruitment and fundraising resources to recruit more of that “type” of top-performing participant.
Make your recruiting efforts more personal
Using data from previous campaigns or events to add personalized notes to your recruiting emails can help you tap into the loyalty of past participants. For example, look up your previous years’ results, and add a personal note to your recruiting email, such as:
- “Thank you for raising $X last year.”
- “Thank you for being one of our top 50 fundraisers last year.”
- “Last year you ran X:XX in our 5K and took Xth place. Are you ready to do it again?”
- “You’ve participated in our event X times and have raised $X throughout those years with us. We sincerely thank you for your continued support.”
Make your campaign even more compelling
Often, organizations include basic messages about past campaigns in their recruiting emails, such as “Last year, we had X participants and raised $X.” By adding more compelling data from your past campaign, you can motivate more people to participate and raise even more funds. For example, “Last year we raised $X million dollars. With that money we were able to fund XX research grants. So far, those grants have produced XXX hours in the lab, which resulted in X new clinical trials set to launch in Q1 2019.” Now there is data in action — letting people know specifically where their money has gone and will go, with measurable results!
Motivate participants to raise more
Once someone has registered, you can use data to personalize their experience and improve the likelihood that they’ll fundraise for your organization. For example, team captains are usually more engaged than other participants. Use your data to segment team captains and communicate with them in special ways, such as a phone call or personal email. Consider asking them to help in other ways, too, such as recruiting more participants.
Reconsider your fundraising incentives
If you have fundraising incentives or use milestone badges, look up your levels and see how many participants are reaching them. If you find many people are falling short of your lowest tier, you might want to lower it. Or, you may test more effective communications to encourage participants to reach the goals. Alternatively, if it seems that too many people are quickly reaching your lowest tier, you might consider raising it.
Improve the event day experience
If an event is at the center of your p2p campaign, collect and record data from your event day to improve on future event day experiences. For example, did you have a photo booth that was booked solid? If so, consider adding another photo booth next year. Was parking over-filled? Maybe add a second parking location and a shuttle bus for next year. Did your post-event silent auction raise significant funds last year? If so, consider adding more items this year.
Decide if your campaign is really working for you
Define what success means to your organization — for example, # of people, fundraising dollars, or net revenue. Then, review data from your p2p campaigns to ensure you want to continue to host them. You just might find that it’s time to try a new campaign.
It’s important to note that you can spend weeks analyzing data and not actually get anything done. Be sure to identify the metrics that are most relevant to your p2p program and focus on improving a couple of areas at a time.
It is also helpful to remember to test things in isolation. If you use data to identify various changes you’d like to make to your site or processes, do just one or two at a time so you get a true idea of the impact of the change.
Using these simple data tricks can help you personalize the p2p experience for your participants, strategize based on past successes, and leverage your limited resources while raising more funds for your organization.
Learn more about how to take your peer-to-peer campaigns to new heights: Contact Cathexis Partners.