Making the Most Out of Corporate Sponsorships
Corporate sponsorships are amazing tools for nonprofits, helping you to raise funds, increase awareness, and legitimize your organization. They’re also great for businesses, helping them to improve their brand perception, increase employee satisfaction, and attract new customers. These partnerships are beneficial for both parties- a win-win!
Small and large businesses alike benefit from giving back to their community. With the emphasis on corporate giving growing in the business community, corporations are looking to show responsibility and distinguish their brand. Partnering with nonprofits helps them motivate their employees and reach new people. In addition to all these brand benefits, most businesses also genuinely care about doing good.
For nonprofits, corporate sponsorships seem like a no brainer and for the most part they are. Corporate sponsorships help accomplish fundamental nonprofit goals, raising more money and awareness and even providing new donor and volunteer prospects. As long as the business you’re partnering with is compatible with your brand and your team is prepared to be a good partner, corporate sponsorships are a great tool for nonprofits.
Many nonprofits only think of event or branding partnerships when they think corporate sponsorships, but there’s actually so much more to do with business partnerships. Below are five ways to make the most out of your corporate sponsorships.
- Recruit event sponsorships.
Event sponsorships are a simple, easy way for businesses to get involved with your organization. This ask is a great first ask, introducing the company to your nonprofit and letting them get to know what it’s like to work with you.
Offer brand exposure by featuring a company on your event promotional materials in exchange for a donation. Encourage businesses who buy a table at your dinners to actually fill the table with interested parties and work to build relationships with them. Think of creative ways to incentivize higher-level sponsorships, like more drink tickets or more brand exposure.
- Create a matching campaign.
Individual donors and businesses alike love to see their money grow. By creating a matching campaign, a corporation can double the impact of their gift. Once they agree to a maximum donation amount, promote the matching campaign far and wide. T People who give to matching campaigns are thrilled to feel like their donation is doubled and corporations love the exposure they get through these fundraisers.
- Start a corporate giving campaign.
You can make it convenient and easy for individuals to donate all year round by starting a corporate giving campaign. With a corporate giving campaign, employees sign up to donate a specific amount of every paycheck to a nonprofit. The donation is taken out before the employee even receives their paycheck so they face no hassle at all. Some businesses will even match a percentage of these gifts, further incentivizing this employee giving.
Once you create a corporate giving program, reach out to businesses you’ve worked within the past to get one started. It’s best to get team captains at each business—individuals who take on the responsibility of recruiting new employees to join the campaign. Provide marketing and educational materials for these captains so they can make a strong case for individuals to chose to support your organization.
- Solicit year-end gifts.
Many businesses make donations at the end of their fiscal year just like individuals do. By giving large donations, they avoid getting taxed on huge surpluses and usually receive a tax break. Therefore, year-end fundraising is just as important with your business partners.
Businesses have many nonprofits to choose from and usually, they sponsor many organizations and events throughout the year. Work with your loyal volunteers and donors to stand out to companies. Ask your supporters to speak with the businesses they have close relationships with—either because they work there or have close ties.
Rewarding outstanding employees by donating to a nonprofit of their choice is a great way for companies to improve company morale. Encourage your supporters to seek out these donations in any way they can.
- Run corporate fundraising events.
Corporate fundraising events are just like peer to peer fundraising. Individuals at a business don’t just donate to your campaign, they solicit donations from their network. This way, you can reach more people and raise more funds. Corporate fundraising events are usually even more fun though because it’s super easy to encourage the competitive spirit.
Help those participating be better prepared by providing them with a fundraising toolkit that includes sample social media posts, email templates, videos and images, and compelling stories to tell.
Now that you know the ways you can use corporate sponsorships, the next step is to prepare your offerings and seek out business partnerships. In our next blog, we’ll discuss how to find the best corporate sponsorships and what you need to do to be an attractive partner as well.