Think Big, Win Big: Maximize Corporate Relations in Challenging Times
Those of us in nonprofit circles have had a heck of a first quarter and if the daily news cycle is any indication, the second isn’t going to be any calmer. Some of you have asked me for advice about reaching out to potential corporate partners in this topsy-turvy climate. We have all been reading about the immense pressure on corporate America to abandon DEI initiatives. Some fear that other longstanding commitments to corporate philanthropy will be on the chopping block as well.
Change is definitely afoot, but let’s take a look at what the experts are seeing, and consider how nonprofits can adjust. A recent survey by the Conference Board found that, “more corporate philanthropy leaders plan to ramp up their companies’ efforts around economic opportunity and education.” The survey also indicated a shift as corporations infuse gender and racial equality into “broader frameworks – like workforce development, technical trainings, and financial empowerment.”
Can you successfully raise corporate dollars in this landscape? I believe so. But before I shower you with tips and suggestions, I would like to point out two realities: 1) corporations in every corner of our economy, and the people who power them, are also coping with a chaotic environment, and 2) corporations that are committed to being engaged community partners, and the people who power them, will continue to look for ways to be good neighbors.
Further, given the scope of the changes at hand, the time has never been riper for a bold approach to corporate outreach. Here are some ideas for preparing your nonprofit for success in building a corporate relations program that translates into corporate support:
Know your nuances. People often use the terms sponsorships and partnerships interchangeably, but “sponsorship” generally refers to a company’s support for an event or program. Prominent logo placement and branding opportunities (think social media posts, guest blogs and opportunities to take the podium at fundraising and friend-raising events) are prioritized in this kind of relationship. “Partnership” generally refers to two entities, a for-profit corporation and a nonprofit, working together on a deeper level to the benefit of both parties. In this type of relationship, a company will place the power of its brand and marketing behind the nonprofit cause to generate profits and positive public image outcomes for both.
Where is the engagement? You’ve heard it before: people give to people. This holds true for companies as well. Community-minded businesses are eager to generate volunteer opportunities for employees, from river cleanups to board seats. It’s about more than polishing their corporate image; many companies see community involvement as a valuable addition to their employee recruitment and retention efforts.
Go for the fit. Just because a company is making major corporate gifts to nonprofits in your area does not necessarily make them the right fit for your nonprofit. Do your research and look for alignment in mission, core values, products and services, goals and overall strategy.
Create a mutually beneficial case for support. Focus on how the partnership can benefit both partners through achieved goals, engaged employees, and added brand value. Identify solutions and benefits that create shared value and articulate how working together will create a meaningful impact on the social cause.
Build and nurture multiple relationships, connect deeply and – always – aim for the top. Of course, the most impactful relationship will be the one at the top of both organizations. But don’t neglect engaging employees at all levels in the corporate partner and the nonprofit. In particular, seek out members of the company’s marketing and sales teams, as well as engaged employees who are leading employee resource groups (ERGs). Building relationships in many areas of the company will contribute to continuity and long-term partnerships.
Collaborate to create and set goals, benchmarks and clear deliverables. Review them – together – and be ready to communicate what matters. Measure progress against shared goals and connect regularly to report progress. Identify gaps between expectations and results and work as a team to understand what adjustments need to be made.
Corporate-nonprofit partnerships can be multilayered. A cause marketing component, such as pink ribbons or a special button, can raise awareness about your work. Matching gifts and workplace payroll giving programs can be lucrative when a large number of employees are advocates of your organization. Customer/client giving campaigns enlist customer donations while also highlighting a company’s corporate citizenship. Employee volunteerism helps organizations “staff up” for special programs and events and brings much-needed talent to committees and advisory boards.
Don’t sell your nonprofit short. Too often nonprofits sheepishly ask for low-level event support and miss the opportunity to use this as a door opener to greater opportunities. Learn about and leverage the synergies between your organization’s work and the community interests of the company. A robust corporate relations strategy that includes prospecting, multi-level engagement and stewardship will lead to maximum return.
Your cause is worthy of investment. And don’t underestimate the businesses, and the businesspeople, who have a genuine interest in building strong communities. Instead of walking into a company to ask for a contribution, have a big-picture plan to build a lasting – and lucrative – relationship.
The More Than Giving Co. can help you in building a diverse revenue base – including corporate fundraising programs.
Schedule a call today to learn how we can help.