There are a whole lot of sub-topics when it comes to the use of social media and networking. The multitude of uses is of course one of the fundamental reasons why this way of networking has become what it is today. It dominates our overall communication and is probably the best way to find new markets, people, and partners, depending on what area of usage you are utilizing it for. As an individual, you probably don’t spend too much money on your social media efforts, but when we jump over to businesses and nonprofit organizations, we start talking about something entirely different. The investment in social media has actually increased by quite a lot over the past year.
The average spending for a nonprofit organization is less than $10,000 per year; however, even when their funding increases it seems they find new ways to keep costs down and still manage to increase their presence. A new infographic from blackbaud, NTEN and Common Knowledge, called The Social Harvest, shows a great increase in the presence of nonprofit organizations on the social networking scene.
The cost for a Facebook Like is still higher than the cost of a Twitter Follower, and that is likely not to change. The mentioned price for a Like is $3.50 while the price for a Follower is hovering around $2.05. Even though it’s a necessity to measure these metrics in money, I still find it hard to see it that way. For us here at Bit Rebels, the price for a Like or a Follower is what we pay in content. The worthiness of our content is merely the impact it makes. Sure, it doesn’t throw around numbers in cash, but the conversion from impact to cash shouldn’t be too hard to figure out once you start getting into things.
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