In last month’s The Chronicle of Philanthropy Fundraising Fundamentals Podcast, Gail Bower, author of How to Jump-Start Your Sponsorship Strategy in Tough Times, explained why generating corporate sponsorships is so crucial for nonprofits- now more than ever. Listen to the Podcast here: http://philanthropy.com/article/Setting-Up-Corporate/151071/
Why this matters.
Building corporate relationships is often difficult for many nonprofit organizations, especially smaller ones. But in the constantly evolving world of fundraising, knowing how to create the most productive corporate sponsorships is key.
1. You must begin with a laser-focus strategy. Being able to adapt rapidly to the changing tides of corporate philanthropy will give you a serious advantage. Nonprofits have to pay attention to the challenges that corporations face, and must stay abreast of these concerns. Part of achieving this advantage is keeping your research relevant. Always ask: What is going on with them as a business, and how can we mold our strategy to give them what they want? Nonprofits must be sure to align their sponsorship opportunity with the goals of the corporation.
2. Keep your value as strong as possible. Nonprofits must always be sure to value themselves to their fullest potential. Remember that corporate sponsorship is a marketing vehicle! We are experiencing a change in dynamics within fundraising – an increase in personalization. People no longer feel satisfied with being “just another consumer”. Donors see themselves as individuals, and want to be treated accordingly. Businesses can use the value of an organization to set themselves apart from the competition. Corporate – nonprofit sponsorships are a great option for business, and nonprofits alike.
3. Stay away from generic offerings. There is very high competition for sponsorship dollars. In order to stand out, you must tailor and customize your sponsorship opportunities to the needs and interests of the corporation. Remember that what your organization has to offer is highly valuable, and you can leverage this value through sponsorships to establish powerful relationships and build support for your cause.