Know the Facts about Facebook Fundraisers
It’s almost halfway through December and you’re constantly looking for new ways to capitalize on the biggest giving month of the year. One new option available is through Facebook’s Fundraisers and Donations – an extension of an existing Donate Now button on Facebook pages. But will this really be something that could have an impact on your year-end giving?
Before you rush out and sign up, there are a few things you need to consider.
It runs on Facebook’s ad network
This requires Facebook users to use and/or store a credit card on their Facebook account. With many privacy concerns permeating popular sentiment, this may be a steep adoption curve before the general public is using their credit card on Facebook.
Facebook can hold your donations indefinitely
You must accrue $100 in donations before Facebook will release your funds to your organization. If you do accrue more than $100 in donations, payouts are made bi-weekly meaning you may not see that donation money right away.
Not only will Facebook withhold 2% for administration, their processor also takes 3%, meaning your org can end up having 5% skimmed off every donation.
Is this how your constituents want to be engaged on social media?
You also need to consider how your current followers want to be engaged on social media. Are you currently generating revenue from social media? What is your goal of social media? Is it to inform my followers about things happening within the organization or is this another avenue to ask for their support? And if you do decide to use Facebook as another way to ask people to donate you need to ask if this will make it any easier for my donors to give.
While Facebook is a great platform for organizations to share their mission and engage with their audience, Facebook’s Fundraisers is not necessarily a foolproof way to immediately increase revenue. Make sure you understand all that is at play before going all-in.