Are you looking to get more donations? Getting donations has become more challenging than what it used to be.
With people leading hectic lives, garnering their attention and keeping them focused towards your cause is a challenge to many organisations.
There are a wide variety of means a nonprofit can use to gain the attention of donors who believe in its cause. Digital outreach campaigns and work at the grass-root level conducted by volunteers and supporters are some means. However, nonprofits need to select strategies that work best for them.
A significant goal for fundraising for a nonprofit organisation is to attract sponsorship from corporates.
Backing from corporates offers a wide range of benefits:
- Lump-sum amounts donated on a sustaining basis.
- The corporates staff is encouraged to volunteer and provide services as long as it aligns the goals of the nonprofit.
- It adds a boost to the profile of the nonprofit when the corporate is a prestigious one
- Donations and awareness are raised and spread by, word of mouth among employees and customers.
Understanding what it takes to attract these powerful corporate sponsors can bring about a significant positive turn to your nonprofit’s efforts in gaining funds. Read further for valuable practical guidance.
How does corporate sponsoring work
The basics of corporate sponsorship
It is a form of marketing wherein a company or corporate donates or pays to gain rights to be associated with a program or social cause. The most common form example of corporate sponsorship is one between a corporate sponsor and a nonprofit organisation in which the latter receives funds in exchange for recognition or collaboration.
Corporate sponsorship is a highly useful tool for advertising many organisations since it promotes goodwill. Companies are more likely to sponsor large sums of money towards highly publicised events because of the media coverage it garners.
The contact is, in most cases initiated by the director of the charitable or nonprofit organisation. To begin with, the soliciting of funds is done by approaching the marketing directors of various companies. Instead of laying out the request for donations directly, the charities offer the corporates sponsorship opportunities in return for monterey funds. Corporate see these events as opportunities to gain public goodwill and reach a wider audience.
A contract is outlined. It will specify terms of an agreement – for example, a company sponsoring a cricket tournament. The agreement terms mention the corporates name and logo should be used on all marketing and promotional materials up to the last day of the event in this case, the cricket tournament. The corporate will be called and credited as the primary sponsor for the event in all media and advertising means. The company name and logo shall be affixed on all shirts, t-shirts and handouts given in public.
Remember two essential points:
- Corporate sponsors require special attention because they are a single large-value donor, unlike you standard individual donors.
- Existing merchandising collateral, outreach plans, mission statement, list of accomplishments are valuable. Your nonprofit may have to reformat or repurpose it to address the sponsor’s individual needs.
Nurturing and strengthening the relationship
Corporate sponsorship does not need to end after one event or after the term of the agreement has been fulfilled. A valuable conversation which states the positive outcome of the event and how continued collaboration can build a more robust and better future. You can also mention the scope for learning opportunities that can increase outreach in the next round. Strengthening the relationship with the corporate after the event is of utmost importance as it guarantees a single most considerable donation sum compared to regular donations.
Secure sponsors that are within your reach.
Securing the backing of big corporates for upcoming events or continued support is not the strength of every nonprofit. However, it allows the nonprofits an opportunity to connect with national and international companies to reach goals via such sponsorship.
Irrespective of your nonprofit is still in a nascent stage or testing the waters of corporate sponsoring, remember to focus and work hard towards gaining the trust of the multinational corporation and make the time to identify corporates that align with your mission and cause.
Ketto crowdfunding provides nonprofits, individuals and NGOs an online platform to start crowdfunding for social and personal causes. To learn more get in touch with us today!