The Perfect Match: 5 Strategies to Build Corporate Partnerships in Today’s Climate

As many nonprofits are looking to steer away from uncertain government funding in today’s climate, expanding and strengthening your revenue streams from other sources is more vital than ever. Corporate partnerships, often slotted for fundraising dinner sponsorships and other events, can truly be a significant part of your fundraising mix, not just for financial support, but as a source for volunteers and board leadership as well. But it doesn’t happen overnight.

Here are 5 strategies you can take to build and grow robust revenue while building rewarding partnerships with corporations.

1. Explore your programs: Corporate funders can do much more than buying a table at your annual gala (and truthfully, many dread trying to fill seats). Really take a good look at your programs and events to see where there might be natural links to certain companies, and it helps even more if they have a local presence. For example, for an exhibition on transportation, I reached out to a rail company that was expanding in our city, and they ultimately became a sponsor. I also built partnerships with several companies that I’d discovered had special interest groups for women in tech which had great alignment with our Girls in STEM program. They ended up supporting the program via fun, personalized collaborations. The bottom line is ‘go beyond the gala’ to see where there could be deeper engagement and alignment.
    
2. Create special opportunities for support: The next step from point #1 is to take those programs and create special opportunities for companies to be involved as part of their support. In the Girls in STEM example, we worked with several corporate partners to design customized workshops with activities that reflected their specific industries such as engineering and finance. In addition to female professionals from the companies serving as mentors for the workshops, we also included speaker panels for them to share about their work and career paths. These strategies truly helped make their support much more meaningful and personal, and the companies loved it. Also, having successful case studies helped in pitching the idea to other companies who were excited to explore possibilities.
   
   In another example, we designed a special water conservation-themed lesson that integrated easily into our classroom outreach program. The corporate supporter loved the customization, and had the opportunity to speak to students about their work and careers in the field. The impact was way better than just putting their logo on our program page.
    
3. Research prospective companies well: You can absolutely find hidden gems of alignment with your programs and companies - if you do thoughtful research. Do a deep dive into their community involvement, press releases, annual reports, and social media. See what kinds of charitable efforts companies are doing, and note the synergy with your nonprofit. For example, I recently saw a post from a corporation who had just opened a new office nearby, and to celebrate their launch, they awarded a sizable donation check to a local nonprofit which does similar work to one of my clients. Seeing this, we’re now making plans to approach them.
   
   Also, read your local business journal, and search on LinkedIn for posts on giving and grant awards to similar organizations. Moreover, don’t be shy to reach out to company staff for an initial introduction. If you’re respectful and genuine, it can often lead to successful corporate partnerships.
    
4. Build the relationship: Just as with individual donors, corporate giving officers are people too. Take the time to get to know them, and lead with building a mutually-rewarding collaboration. If they’re local, invite them for a tour or schedule a lunch visit. One corporate donor told me over lunch that our organization stood out because we took the time to meet with them and keep them updated on their impact. This same donor shared a personal connection with one of our programs which inspired them to support us. I would never have known this if I hadn’t taken the time to meet and listen. Seek opportunities to send periodic updates with success stories, testimonials, and photos of the programs they’re supporting. It doesn’t have to be formal. Just making the effort can set you apart from other nonprofits.
    
5. Stay connected: Even after the sponsored or supported program is completed, it’s critical to stay connected with your corporate partners for renewed funding, and to be aware of any changes to their giving priorities or processes. Continue to meet with them, and follow their social media pages to stay informed and engaged in what they’re doing. This not only helps you have more insight, but you’ll be able to demonstrate to them that you’re paying attention to their work in the community - that it’s not all about you. This can make a huge difference, especially if there are leadership changes at their companies. This gives you a great opportunity to invite the new CEO or corporate giving officer for a tour, or to have lunch with your board chair. At the very least, sending a ‘congratulations’ card from your executive director is a fantastic way to strengthen the relationship.

Key Takeaways
Your corporate partnerships can go well beyond an event sponsorship if you take some steps to understand them better, deepen the relationship, and provide meaningful opportunities for support and engagement. Moreover, you truly can have fun in the process while securing needed funding for your mission and programs. Their involvement can add credibility and help attract other corporate supporters as well.