Social networking - an income generator?

I’ve been thinking a lot about this subject recently, and I saw an article today from the States that has inspired me to post.

It’s always interesting to hear how charities are beginning to tap into the potential of online social networks, because it's such early days yet, and there's still not much evidence around of this type of engagement with charities converting into income on any scale.  However, I think organisations need to change their perceptions about this anyway.

Debates seem to be raging all over the place – particularly online – about whether digital media will replace print media (most people are focusing, as usual, on direct mail), and whether charities should ‘switch their budgets’ from one to the other.  I've also heard budget-holders say that they're considering digital because it’s ‘a cheaper medium to reach more people’ than direct mail. This all seems to be in the context of recruiting financial supporters.

(A bit of an aside: I’m supposing direct mail receives all the focus because it’s more expensive than doordrops and inserts, and that digital media would seem to provide the same direct route to the individual that direct mail does, at a fraction of the cost.)

Well, I think that all of this is missing the point a bit, because:

1.    Not every charity will have, or be able to develop, propositions that will work across all media

2.    No approach will work unless it matches the right ask to the right audience and uses the most appropriate media to deliver it

3.    Social media are relationship-building tools that will help organisations engage with individuals who might support their mission in many ways; not necessarily financial.

Time will tell, but my hunch is that social media offer excellent channels to connect with new audiences, increase awareness, recruit campaigners and advocates (remember that a lot of these people have proactively joined up around your cause – they’re online activists), and create a new kind of self-selecting prospect pool, from which a percentage will convert to financial support if you engage them in the right way.

Mind you, they’ve got to fix this first, or I’m off ;p