Episode 2 of monetizing online communities looks at donations – an overlooked revenue stream and the social media tools that enable donations online.
Currency has no inherent value itself – only what we, the community, say it’s worth. Sometimes $2 coins are annoying – we throw them in a jar or give them to a busker rather than have them rattling around in our pocket. Other times, we will give a stranger a $5 note because we desperately need $2 for the car parking meter, and don’t have any change. So currency can change in it’s value contextually depending on what is being transferred. Donations play very much into the socailized aspect of money transfer. What do we value, how do we show we value it, how do we feel and what good will it do? This does NOT have to be Not For Profits – social networks that have a “community” feel, can also connect with the goodwill of the members and seek donations as a revenue stream. Note: you can subscribe to video on iTunes 
but I’m waiting for them to offer the audio RSS version too!
Donations as Revenue: Social Media Business Ep.002 from Laurel Papworth on Vimeo.