Wonder if you should spend your time campaigning in social networks?
You can use this tool to calculate an estimate of cost and return on investment for the recruitment and fundraising efforts of your staff in social networking sites like Facebook or MySpace. It works sort of like an online mortgage calculator. Just enter the starting assumptions in the yellow boxes below and the tool calculates results automatically.
Need some metrics guidelines? You might check out some of the online advocacy and fundraising benchmark studies. If you don’t measure results strictly by fundraising — maybe your results are based on advocacy or branding only — you can just look at the “cost per friend” or “cost per email name” to compare with the costs of recruiting people elsewhere. You can also see how that translates into cost per action or email viewed (opened).
If you would like to see the assumptions and equations behind the magical calculations, they are available on the original Excel spreadsheet. Email Justin Perkins to request a copy or to send feedback, and feel free to comment below.