Corporate sponsorship is one of the primary ways non-profit organisations receive funds. We often see non-profit organisations doing tremendous jobs for the causes that they believe in. This blog will discuss how corporate sponsorships work and how the companies benefit from the same. Read on to find out more about the same.
Table of Contents
What Is Corporate Sponsorship?
A corporate sponsorship is a marketing technique wherein a company pays a right to be associated with a particular project. Sponsorships are mostly seen where non-profit organisations team up with corporations for projects and ventures led by the non-profit organisations leveraging their brand image.
This is a symbiotic relationship where the non-profit organisations get the funds required to undertake their projects with a sponsorship proposal, and the corporations receive recognition in return.
- Not Sure About Funds? Get Money for Your Corporate Goals Here!
How Do You Get Corporate Sponsorships?
Now that you have understood corporate sponsorship, you must wonder how sponsorships work and what a charity corporate sponsorship is. We will cover the answers to all these questions in the upcoming sections of this blog.
Most non-profit organisations seek an Apple corporate sponsorship or a Deloitte corporate sponsorship. Most non-profit organisations are aware of how to apply for the same. They know their pitch and approach the companies with the same values and a positive reputation.
However, Read on to find out more on how to find sponsorship packages.
1. Networking & Fostering Relationships
Most sponsorships are won through networking and contacts. Non-profit organisations sit for a meeting and try to find contacts from businesses and companies that can help them with their fundraising goals.
Mostly, these contacts can also be found with businesses that have previously shown interest in that non-profit organisation, like subscribing to newsletters, making small donations, or those who have previously been a part of fundraisers. Nowadays, many companies support corporate sponsorships for nonprofits.
2. Fundraising Strategy
Fundraising is a great way to meet your financial obligations. Whether to sustain your basic needs or plan long-term objectives, the raised funds can be extremely beneficial. You need to have a fundraising strategy that should not only align with your organisational goals but be practical as well.
An extremely convenient way to raise funds is to start an online fundraising campaign. WhyDonate is a reputed European fundraising platform that charges a 0% platform fee and allows its users to enjoy premium features. Corporate fundraising has always been prominent and will play a key role in building the economies of countries.
WhyDonate’s wide donor network of over 600,000 trusted supporters makes it quick and easy to raise funds in a comparatively short time. By creating a compelling online campaign at WhyDonate, you can connect with trusted supporters globally.
- Take Your Corporate Objectives To New Heights With WhyDonate – Click Here!
3. Researching & Evaluating Opportunities
The next step is to study and evaluate where a charity corporate sponsorship can be landed. It is essential to prioritise reaching out to those businesses and companies with the same values as the non-profit organisation. Researching helps you weed out those busybodies and companies that don’t align with the importance of the non-profits.
4. Leveraging Social Media & Internet
Leveraging social media and the Internet is crucial to developing a corporate sponsorship strategy. The non-profit organisation seeking sponsorship can put up ads on Instagram, Facebook, YouTube, and even Google to grab the attention of potential corporate sponsors. Most of these ads do result in winning corporate sponsorship outside their local community.
Additionally, non-profit organisations can also create their social media handles on various social media platforms. These handles can include the daily workings of the organisations. This would increase the organisation’s credibility in the eyes of the corporate sponsors and give it more exposure.
5. Reach Out To Reputed Organisations
The next important step is reaching out to the corporate sponsors. This also answers how to get corporate sponsorship for a sports team. The sponsee should first list businesses and companies that can be potential sponsors.
They should then prepare a detailed and well-structured pitch and reach out to them. The pitch should contain the amount sought for the fundraiser and what the donor will be getting out of the fundraiser.
6. Collaborate On CSR Initiatives
Corporate Social Responsibility (CSR) and Corporate Sponsorships are interlinked. There is a massive encouragement for companies and businesses to take socially responsible steps.
As a result, firms and companies are interested in collaborating on corporate social responsibility (CSR) initiatives. Once non-profit organisations understand how to ask for corporate sponsorship, winning the same for their charitable cause is easy.
7. Negotiating Sponsorship Agreements
The key to closing any deal is thorough negotiation. The negotiation should be handled so that both parties walk out happily. Non-profit organisations should always remember that the sponsors should get something from the corporate sponsorship for charities and an emotional connection with the organisation.
Creative Corporate Sponsorship Examples
Corporate sponsorships can be tough to crack. In such cases, apply your creativity to garner more attention to the cause. The following are a few creative examples of corporate sponsorships that are mutually beneficial for both parties:
1. Giveaways
Hosting Giveaways is a creative idea to boost the business of corporate sponsors. The sponsee organisation can curate customised giveaways for the customers of the company.
This way, the potential sponsors can be assured of receiving something in return from their corporate sponsorship charity. This also serves as an added value for their customers when they make purchases from the business. It is a win-win situation for all involved.
2. Charging Stations
The non-profit organisations can set up charging stations with the branding of the corporate sponsor. This is a valuable example, as charging stations are very much needed in crowded areas like supermarkets, hospitals, airports, and shopping malls.
3. Limited Edition Products
This is an ultimate marketing tactic that can benefit the corporate sponsor, and at the same time, it can generate more funds for the non-profit organisations. The sponsee organisations can curate unique limited edition products and merchandise available for a limited time.
Due to the limited days when the merchandise will be available, it would create an urgency in the minds of the buyers, and they would end up purchasing the product. The money generated can go towards fundraising for the non-profit organisation, and the businesses or the companies can enjoy the publicity and the attention received.
4. Host a Space for Exclusive Deals With the Corporate Sponsors
Ultimately, all the corporate partners have agreed to the sponsorship for their business and goodwill. Sponsee organisations can pitch for exclusive deals available for the businesses’ customers by providing their services to the customers. This enhances the perks for both the parties involved and also gives exposure to the non-profit organisation.
The Only Corporate Fundraising Strategy You Need!
Establishing an effective fundraising strategy for nonprofits and organisations seeking to make an impactful statement about corporate social responsibility in today’s rapidly evolving business world is vital. A thoughtful fundraising plan not only secures financial support but can also forge lasting partnerships. Here is our comprehensive guide to developing a corporate fundraising strategy.
Feel free to use and apply this corporate fundraising strategy template:
- Align with Organizational Objectives and Set Goals: Your fundraising activities must align with the mission of your organisation for them to be truly effective. Be certain the purpose and goals are defined clearly so they align seamlessly.
- Research and Partner Search: To locate organisations that share your values, conduct in-depth research in search of companies whose ethics coincide with those of your cause.
- React to Previous Collaborations: Recognising both successful and unsuccessful past partnerships can help refine your approach and strategies for any present collaborations.
- Tell an Engaging Tale: Utilising narrative development techniques to craft an intriguing account that highlights the positive outcomes of your organisation’s efforts can help in developing a corporate fundraising strategy.
- Customised Partnership Propositions and Packages: Deliver tailor-made sponsorship levels tailored specifically to the interests and capacities of potential corporate partners.
- Engaging and Relationship Building: Build personal connections within corporations in your target region in order to drive engagement.
- Networking Events: Attend industry events to meet potential partners and showcase your organisation.
- Marketing and Visibility: Establishing opportunities to increase corporate presence via events, publications and online platforms are proven strategies for expanding corporate exposure.
- Social Media: Leveraging social media to extend the impact of corporate partnerships and reach wider audiences can be effective in developing a corporate fundraising strategy.
- Reporting and Transparency: Create transparent reporting structures in order to inform constituents how funds will be dispersed and their intended results.
- Update Your Corporate Partners Regularly: Keep corporate partners abreast of progress and any challenges, providing channels of communication.
- Acknowledging Contributions: Acknowledging corporate partners’ contributions through newsletters, events, and public acknowledgement is vital in strengthening relationships and maintaining healthy working partnerships.
- Highlight Success Stories: Illuminating achievements achieved with corporate support can be an effective way of showing positive outcomes in your corporate fundraising strategy template.
- Be Open to Negotiations: Recognizing each corporate partner’s specific requirements and constraints through open dialogue can help facilitate finding solutions collaboratively.
- Solicit Feedback: Engage regularly with corporate partners in order to strengthen collaborations and maximise mutual satisfaction.
Final Thoughts!
When worked together efficiently, sponsorship can be a boon to society. It ensures that a healthy symbiotic relationship is maintained between profit-making firms and non-profit organisations.
With this blog, we have covered the major parts revolving around corporate sponsorships. It is important to understand a topic thoroughly before making any decisions. We hope that we could bring light to the information you were looking for.
FAQs (Frequently Asked Questions)
How does a corporate sponsorship work?
Businesses and Companies associate themselves with non-profit organisations and provide them with monetary aid to fulfil their goals. Corporate organisations and businesses receive recognition and goodwill in return.
What are the benefits of being a sponsor?
There are several benefits of being a corporate sponsor. The companies and businesses receive recognition, goodwill, appreciation, branding, credibility, and connections by being corporate charity sponsors.
How do you apply for corporate sponsorship?
To apply for sponsorship, the non-profit organisation needs to prepare a pitch so that the corporate organisations can understand what they would be getting in return if they agree to be a corporate sponsor.
How do you ask for corporate sponsorship?
Non-profit organisations can ask for corporate sponsorship by leveraging their contacts and reaching out to corporate organisations with the help of their connections.
How to get corporate sponsorship for a sports team?
Sports teams can get corporate sponsors the same way in which non-profit organisations get corporate sponsors. They reach out to local businesses and companies and pitch their sponsor needs.
