Social Media In An Economic Downtown

Photo by Vagamundo

Hundreds of nonprofits across the U.S. - from advocacy groups to local community co-ops - work directly or indirectly to bring about financial systems reform. They have offered a variety of responses to the recent events involving our financial systems. The Blue Avocado has a round up of nonprofit commentaries.

Chris Brogan offers 25 Ways Social Media Prepares You for the Downturn with some tips about being proactive as we anticipate what impact this crisis will have on our day-to-day lives.   

Jeremiah Owyang shares out four questions that you should answer about social media an economic downturn.  I've remixed them with a nonprofit view point.

1) Is social media usage going to increase or decrease during a recession by consumers?
2) Will organizations cut all spending on social media that is generally unproven?
3) Will these be tools to improve communication and collaboration within the enterprise?
4) Will the economic downturn force efficiencies to occur by shedding nonprofits that lack innovation?

Charity Navigator blog suggests that in the nonprofit sector that the worse run nonprofits will disappear and suggests this is a sliver lining in a economic turmoil - less competition for dollars.  In a blog post pointing this prediction, the Chronicle of Philanthropy asks its readers what they think.  In the comments,  many feel that the crisis will hit all nonprofits, hard, no matter how well managed they are. Others fear that fear will drive some nonprofits to make poor fundraising strategy decisions.  There is also the suggestion for increased collaboration and resource sharing and also suggest that non profits and donors to think more creatively about ways they work together.

Over at SocialEdge, they are hosting a timely discussion on "Where's the Money."

See also:

The Market's Toll on Nonprofit Organizations by Alice Korngold
A New Paradigm for CRS by Alice Korngold
Arts Funding Shifting Gears from LAtimes
Planning With Major Donors During a Down Economy by Amy Kincaid

How will the economic downturn impact your nonprofit's social media strategy and implementation?  What are you doing to prepare?

Comments

[Geoff Livingston]

This recession will be good. It's going to separate the weak from the strong, and great non-profits and companies will adapt to meet the time. Fear should be shed, and the challenge should be met. We can succeed so long as we want to.