Nonprofit Fundraising Ideas: How to get Corporate Sponsorships

Summary

In this video, Amber Melanie Smith discusses strategies for nonprofits to secure corporate sponsorships. She emphasizes the importance of building relationships and community reputation, researching potential sponsors to ensure alignment with their values and goals, and understanding how companies fund charitable giving. Smith advises nonprofits to identify the correct contact within companies, make specific asks, and follow up politely. She also stresses the value of learning from rejections and maintaining relationships with sponsors for future opportunities.

Takeaways

• 🤝 Building relationships is crucial for securing corporate sponsorships, as it helps establish trust and familiarity with potential sponsors.
• 🔍 Researching potential corporate sponsors is key to finding companies that align with your nonprofit's cause and values.
• 📊 Understanding a company's charitable giving motivations can help tailor your sponsorship pitch to meet their goals and needs.
• 👤 Identifying the correct contact within a company is essential for effectively communicating your sponsorship proposal.
• 📋 Creating a clear and specific sponsorship proposal that outlines what you're asking for, the benefits for the sponsor, and how the funds will be used is important for a successful ask.
• 💡 Be mindful of IRS regulations regarding unrelated business income to ensure your sponsorship benefits align with your nonprofit's mission.
• 🗣️ Make your sponsorship ask by introducing your cause, expressing your sponsorship needs, and inviting discussion for potential partnerships.
• 🔄 Following up on sponsorship requests is necessary, as many companies receive numerous requests and may require reminders.
• 🚫 Learn from rejections by seeking feedback, which can provide valuable insights for improving future sponsorship proposals.
• 🤝 If you secure a sponsorship, follow through on your promises and maintain a relationship with the sponsor to potentially secure ongoing support.
• 🙏 Express gratitude and continue to build relationships with sponsors throughout the year to foster long-term partnerships.

Q & A

What are some strategies nonprofits can use to successfully get corporate sponsorships?

Nonprofits can use strategies such as building relationships, researching corporate sponsorship prospects, understanding how companies fund their charitable giving, identifying the correct contact within the company, making specific asks, following up on requests, learning from rejections, following through on promises, and maintaining relationships throughout the year.

Why is building relationships important for securing corporate sponsorships?

Building relationships is crucial because it increases the nonprofit's visibility and reputation in the community. Companies are more likely to invest in organizations they know, trust, and that have a good standing.

How can nonprofits identify companies that align well with their cause?

Nonprofits can identify aligned companies by reviewing the corporate social responsibility pages on their websites, checking out events and sponsorships of similar charities, and considering how their mission aligns with specific companies' goals.

What motivates companies to engage in charitable giving and sponsorships?

Companies may be motivated by goals such as enhancing their public relations, building employee community relationships, or aligning with causes that match their brand and business objectives.

How should nonprofits approach finding the correct contact within a company for sponsorship discussions?

Nonprofits should first consider personal connections they might have within the company. If none exist, they can contact an administrator or look for information on the company's charitable giving process to identify the appropriate person.

What should a nonprofit's sponsorship ask include?

A nonprofit's sponsorship ask should include a clear outline of what they are seeking from the company, the benefits for the sponsor, and how the sponsorship will help further the cause. It should be specific and ideally presented in a visual one-pager or brochure.

Why is it important for nonprofits to follow up on their sponsorship requests?

Follow-ups are important because many companies receive numerous requests and can become overwhelmed. Polite and persistent follow-ups can help keep the nonprofit's proposal at the forefront of the company's consideration.

How can nonprofits learn from rejections when seeking sponsorships?

Nonprofits can learn from rejections by politely asking for feedback on their proposal. This can provide insights into timing, fit, or other factors that can be improved upon for future requests.

What should nonprofits do once they secure a sponsorship?

Once a sponsorship is secured, nonprofits should follow through on the promises made during the partnership, acknowledge the sponsor as agreed, and maintain credibility and trust.

Why is it beneficial for nonprofits to maintain relationships with sponsors throughout the year?

Maintaining relationships with sponsors year-round is beneficial as it builds trust and can lead to repeat sponsorships. It also ensures that the company feels valued beyond just being a source of funding.

What is the role of personal connections in securing corporate sponsorships?

Personal connections can significantly aid in securing corporate sponsorships by providing an introduction to the right person within the company, which can increase the chances of a successful sponsorship request.