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Evaluating Peer-To-Peer Fundraising Platforms For Your Non-Profit
by Sean Staggs
In the changing world of fundraising and non-profit organizations, many organizations are revaluating the performance of their peer-to-peer fundraising platforms to ensure they continue to meet their present and future needs. Not to be understated, changing your peer-to-peer fundraising platform can be challenging. Making the shift is more than just a technological upgrade; it’s a strategic move towards enhancing operational efficiency and boosting engagement.
What drives this need for change? Is it the allure of new features, the hope of lower operating costs, or the pursuit of increased engagement and revenue? Understanding the ‘why’ behind a platform evaluation is crucial for a successful decision and potential transition, if a change is determined to be the best course of action.
The first step in considering a platform change is to identify the core reasons driving this decision. Are you seeking to improve business processes, reduce operational expenses, or enhance supporter engagement? Perhaps the goal is to increase revenue.
It is essential to recognize whether the motivation is a genuine need and fits within your strategic plans, is spurred by what you have seen another organization do, or an attraction to new, shiny technology. This understanding lays the foundation for a focused and effective peer-to-peer platform selection process.
A thorough deep dive discovery is instrumental in uncovering not just the apparent needs, but also the hidden opportunities that a new platform might present, as well as challenges to current ways of working.
This process involves scrutinizing your current P2P program, uncovering the limitations of platforms, understanding how the technology is currently used, and identifying areas where new peer-to-peer fundraising platforms can make a significant impact.
Once the discovery phase provides clarity on goals and needs, the next step is to craft a comprehensive list of technical and business requirements.
This is a detailed exercise where every functional need, from user experience to data analytics capabilities and reporting, is considered. These requirements should align with your organization’s strategic objectives, ensuring that the functionality of the fundraising platform not only meets current needs but is also scalable for future growth.
With a clear set of requirements in hand, the next phase is to identify potential vendors. This process involves researching the market, understanding the strengths and weaknesses of various platforms, and shortlisting those that align with your specific needs.
Don’t just look at features, but consider factors such as vendor reputation, customer support, integration capabilities, and total cost of ownership.
Comparing different vendors can be challenging, especially when their offerings vary significantly. The key is to evaluate these platforms objectively, focusing on how well they meet your specific requirements. It’s also crucial to involve all stakeholders in this evaluation process. Their input is invaluable, as they will be the ones using the platform.
This inclusive approach ensures that the final decision is well-rounded and considers the needs and perspectives of all parties involved.
A fundraising platform evaluation should not be taken lightly. When evaluating peer-to-peer fundraising platforms, apply a strategic approach. Begin with a clear understanding of why the change is necessary, followed by a thorough evaluation of your needs and the available options. It must be evaluated within the whole ecosystem of your tech solutions, including your constituent relationship management system (CRM). And sometimes, the answer may be that the grass isn’t greener, and you already have the right tool for your organization, and need to maximize its potential. And that is fine too! By involving all stakeholders and focusing on your organization’s unique requirements, you can make a decision that not only meets your current needs but also positions your non-profit for future success.
Choosing the right platform can positively impact your fundraising efforts, increase engagement, grow revenue, and, ultimately, in achieving your mission. But the whole process can be overwhelming. Choosing the right partner to guide you through this process can help improve your non-profit’s success in this venture, steering you towards achieving your mission more effectively.
With Charity Dynamics, you gain more than a service provider; you gain a partner committed to enhancing your digital fundraising and operational capabilities. Our expertise in platform evaluation ensures that your journey to selecting the right technology is guided, informed, and aligned with your mission.
Learn more about how Charity Dynamics can help increase your outreach and fundraising potential.