Putting on an event is challenging enough but throw fundraising into the mix and it can feel daunting. Many events like the idea of putting on a fundraising event; it’s an excellent way to raise money and awareness for a cause. Peer-to-peer fundraising platforms are a natural stepping stone for this process; getting your participants to solicit donations on behalf of your event and your cause will generate more funds than simply taking the proceeds from running an event by itself. However, simply setting up this functionality is no longer enough. To really break the fundraising glass ceiling, you need to be actively engaging your participants, and a great way to do this is through fundraising milestones.
Fundraisers will go the distance if they have something to shoot for. Offering incentives is a fantastic way to encourage participants to reach a goal. To motivate your participants, offer them rewards for hitting certain fundraising milestones.
Milestone rewards are a way to break down a larger goal. For example, if you’re asking each participant to raise $1000 for your cause, offering rewards at $300, $500 and $700 will get them closer to the $1000 goal faster than if the goal had simply been presented to them as is.
Offer Exclusive Rewards
Rewarding people for their efforts goes a long way, especially if the rewards are exclusive. Keep in mind that a reward doesn’t need to be pricey, a good example of this is making limited edition event branded items, like shirts, that fundraisers will get if they reach a certain milestone goal. Having a limited-edition memento from your event will both give fundraisers a tangible goal to shoot for and will make them feel that their fundraising efforts were both worthwhile and appreciated.
As fundraisers hit more milestones, up the exclusivity of the reward! For example, you could offer a special mug to fundraisers who reach their first milestone, a T-shirt to those who reach the second, all the way up to a VIP dinner or exclusive access to parts of your event for those who make it all the way to the end goal. Offering something that can only be accessed or acquired through fundraising will not only encourage your current fundraisers, but it will entice more people to sign up for your event, just so they have a chance to try to get one of these exclusive items or experiences. If your event is annual, having something exclusive will also give people something to look forward to, and may become an iconic part of your event experience.
To tie everything together, make sure you communicate with your fundraisers once they reach a milestone. People love hearing that they have been successful and have a token to look forward to on event day! This can be done easily through our Fundraiser Outreach tool. Simply select the threshold you want to reach out to, and the date range, and all fundraisers within that date range will get your congratulatory email.
It’s also important to communicate with people who are close to a goal. You can use this same tool on our site to reach out to those who are just under the threshold for a reward. Give these fundraisers a little extra push, and a reminder of what they could earn, and you’ll get another effort from them to meet the milestone.
Milestone goal tracking can be setup in PledgeReg, our peer-to-peer fundraising solution, so you don’t have to actively manage who has reached which goal and when. To set this up for your event, navigate to ‘Threshold Notifications’ and enter in the milestone goals you want your fundraisers to reach. You’ll get a nightly email summary of who has reached which goal if you want, and you can always download a full list of all who have reached each goal at any time.
If you want to know more about these features or want help in getting them setup for your event, give us a shout. Our customer support team is always happy to talk through our fundraising solutions.