It is undeniable that when charities team up with a business, the financial support can have a huge impact on beneficiaries. However, these corporate partnerships can deliver so much more than just a cash injection- you just have to know how you can develop your sponsorship into a more meaningful relationship, and where possible a long lasting partnership. Below, we take a look at 3 things all charities should know about developing a great corporate partnership.
Corporate sponsorship shouldn’t be a one-sided affair
Many corporate sponsorships today are a partnership- the key word being ‘partnership.’ Each party needs to consider the other’s needs to create the best possible scenario.
The pairing of a corporation with a charity is not too different from starting to date someone new. You need to consider what the other person wants, make no assumptions and ask the right questions; for example, if you were a company, what would you want from a partnership with a charity? It needs to be a two-way street so if you can enhance their brand reputation and they can provide access to a network of people as well as funding; both these aspects need to be considered. If you are able to develop a corporate relationship that is a true partnership the collaboration could last longer and you could develop the breadth of your campaign.
Your sponsorship should tell a story
Whilst it can be tempting to jump at any opportunity for a corporate partnership, you should ensure it is a right fit for your charity. Partnering a health organisation with a fast food company, for example, may not produce the best outcome. When you take the time to fully understand your charity’s brand you can be realistic about what companies you can work with. The best corporate partnerships incorporate the story of your brand and it is essential not to forget that before jumping into a collaboration.
Get your pricing and packaging right
If you are trying to gain sponsorship from a business in order to fund a project you must ensure your partnership is cost effective. Once you have priced your project you will have a greater power to negotiate- you can lose money without proper pricing. It is also essential to learn how to package your project effectively to make them more appealing to the funder’s eye enabling them to visualise your project/cause.
Layla has 20 years fundraising experience in the charitable sector and the arts; specialising in corporate fundraising and sponsorship. Layla’s expertise lies in both securing new business as well account management.
The breadth of sectors Layla has worked with have been extensive; ranging from financial, insurance and legal to retail, beverages, tourism and architecture. Clients have included JP Morgan, Accenture, Credit Suisse, Goldman Sachs, Bloomberg, Barclays, HSBC Insurance, AirFrance-KLM, Bally and Pizza Express.