To create ROI around your partnerships and sponsorships: Be proactive. Create a short-list of potential partners.
Here’s how to find great partners: Explore the following questions. The questions come from my work with clients who have bolstered their performance and profits through partnerships and sponsorships.
Find Excellent Partners Question 1: Who values what you value?
You care about many issues—narrow your focus to three or fewer causes that overlap with your business goals. For instance, your business focuses on the environment. You identify environmental issues and getting youth into nature.
Still stuck, noodle these questions:
Now, mull over your business goals. What causes either directly or indirectly to grow customers, engage employees, or create the infrastructure that supports your business’ growth?
Since nonprofits serve nearly every area of human endeavor, your answers will spotlight a few areas. You’ll purge many fine causes. Your reward will be a focus on those with the most potential to provide you returns.
Finding Excellent Partners Question 2: Who uses your map?
This question helps you to focus on specific organizations that share your geographic fit. Where do you provide most of your products or services? Where geographically do you expect to be in five years? Prioritize nonprofits that share that space. Free PR in California provides little value unless you’re in California.
Find Excellent Partners Question 3: Who offers star power?
To obtain ROI, be a star. When it comes to star power brand name, nonprofits are best, right? Sometimes yes. Your customers will instantly recognize the Red Cross, the American Cancer Society, and the Metropolitan Museum of Art. However, unless you make significant investments compared to other partners with these groups, you will face competition for stardom.
Instead, search “beyond the usual suspects.” Seek out high-quality and less well-known groups. Engage where your gifts will make staff and supporters cheer-and be motivated to customize your options. Depending on your goals, consider local environmental groups, employment causes, the local university, and up and coming art venues.
Support Your ROI
To find nonprofit partners that support your ROI, be proactive. Create a short-list of potential partners. Your next step is to investigate them individually. To learn more, read the full post of this article on LinkedIn.
Karen Eber Davis provides customized advising and coaching around nonprofit strategy and board development. People leaders hire her to bring clarity to sticky situations, break through barriers that seem insurmountable, and align people for better futures. She is the author of 7 Nonprofit Income Streams and Let's Raise Nonprofit Millions Together.
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