AU MA Social Media

A class blog about social media.

How Much Does A “Like” Cost?

Posted by Stephanie on June 12, 2013

Crowdsourcing is an increasingly popular platform used by companies or businesses as a way to monetize a venture or an audience. Two popular sites that target entrepreneurs and fully intertwine  social media into their strategies are Indiegogo and Kickstarter. Campaigns launched through these sites attempt to gain engagement and activity from their present Twitter and Facebook follows; but my question is, how do social media followers equate to dollars?

These businesses can strategize, crunch numbers, and produce sky-high analytics by simply posting interactive comments during peak hours on a regular basis. But what is it about a campaign that makes it so sticky that people actually “like”  it enough to go to the crowdsourcing site and physically donate?

As someone who is currently working on a crowdsourcing campaign for my job, I feel these platforms are missing the boat in terms of social media. A price can’t be placed on a Twitter follower, and if it can, it is very very low. A business could have 5,000 people “like” their page on Facebook, and yet have not one of them actually donate to the cause they’re trying to promote.

Brandname recognition for these sites are growing, which is helpful, but in the meantime good old fashioned fundraisers, events and personally contacting potential donors seems to be the way to go. Social media may still just have a few things to learn about the fundraising world…

-Stephanie Saulsbury

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