The notion that social media is making these companies financial powerhouses is, likely, silly. Most of their financial success is due to good products, traditional marketing, and long-term–pre-social media–brand recognition. This report is post hoc fallacy at its worst.

Here’s a thought. If a non-profit had $500,000 to spend on acquiring new supporters, how much would an experienced, prudent fundraiser allocate to various media including new, new social media? I suggest $25,000 to make sure the website would serve as a good response device, and $475,000 in mail, phone, and earned media. Amount to Facebook et al, $0.

In fact, if you want the best return on investment with $500,000, put the money into reactivating lapsed donors and upgrading current ones, if that has not already been maximized.

For most organizations, social media is fundraising snake oil.