Social Media Fund Raising
What does social media fund raising mean for donors?
The usefulness of social media fund raising isn’t limited to the actual fund raisers. In this new environment, donors can expect more from their causes and make more informed decisions. Donors today suffer from what called “philanthropic overwhelm,” in that there are too many charities to choose from. While the use of social media adds to the number of charities a donor is exposed to, it also provides opportunities to quickly learn more about a charity.
By viewing a charitable donation through this lens, it becomes easier for the donor to demand the accountability and transparency they would expect from a company they invested in. After performing due diligence and selecting a cause that will make the best use of the donation, it’s also easier to spread the word via social media and become a champion for the charity.
Why Social Media?
On top of providing a great communication tool social media also provides an excellent means of gathering data. Expert says, “Social Media tools, if used properly, are also exceptionally valuable for gathering data and experimenting. You can spend a week and $100 gathering data from a small experiment and then double your efforts, focusing on what worked.” Readers of The Four Hour Workweek will recognize this tactic from the section on starting a business.
One example of the power of social media tools to measure the effect of a promotion is the experiment in which donation gift cards were sent to Twitter followers that could be redeemed for a $3 donation to a classroom at DonorsChoose.org. The results of this experiment showed an astonishing 30-50% return on each dollar given away!
