Summary: In today’s podcast, A.J. Steinberg from Queen Bee Fundraising and Stephen Halasnik from Financing Solutions discuss essential tips for successful sponsorship for nonprofits. These solutions are helping nonprofits attract sponsorships for their fundraisers leading to increased revenue streams.
Successful Sponsorships for Nonprofits
Knowing how to attract sponsorship for fundraising events has always been a big challenge to many nonprofits. Moreover, the inability to develop a comprehensive working plan for fundraising events has negatively impacted many nonprofits leading to a poor revenue stream generation for the successful operation of these organizations.
The major problem is that potential sponsors are unaware that many nonprofits exist until they reach out to them. And getting in touch with these sponsors entails being systematic of some sort. Owners of nonprofits should be ready to go the extra mile in knowing what endears your nonprofit to businesses. Business executives want to be sure that the investment they make yields an attendant positive result. However, having a clear roadmap will help nonprofit organizations in identifying and drawing companies to sponsor their fundraisers.
One good thing is that it doesn’t matter if you’re a small nonprofit or international organization. What is overly essential is that you apply some fundamental principles while soliciting and signing on sponsors. Learning the requisite skills in fundraising will help you seal sponsorship deals effortlessly. Creativity is of utmost significance in preparation for a fundraiser. Owners of nonprofits should have the ability to use their imagination to produce novel ideas that appeal to their sponsors. It is important you think of sponsorship as a valuable opportunity you offer for a business to partner with you to grow its reputation and popularize its brand.
Think Like a Business
Businesses don’t sponsor events just for fun; they are always rational in decision-making. No company would want to risk putting their money in a program with minimal or no benefits. Moreover, owners of nonprofits should bear in mind that sponsorship deals are veritable avenues companies use to boost their image to the public. Having known this, you should learn how to think like corporate executives when securing a sponsorship deal. Thinking like corporate executives means adopting similar strategies businesses use to scout donors. You should be able to convince your potential sponsors with your sponsorship package. That’s to say, that the investment they are making will generate a sizable return for their companies.
In addition, using the proper vocabulary and statistics while negotiating with companies to secure sponsorship will excite them and put you in a pole position to get a good offer. What’s more, using statistics will make your fundraising project more realistic and less farce. Business executives are enthused with data-driven decisions. They want to be convinced that the investment they are about to make will be cost-effective. As a result, a data-driven proposal will sell your idea more than any other method pretty quickly. For instance, in your proposal, tell your potential sponsors how your proposed event will offer them the opportunity to have their logo included in your sixth pre-event emails blasts that you will send across your 15000 supporters. And also, that their emblem will continue to be visible through your pre-event marketing full-column articles in three local newspapers, each with a circulation of 30,000; in addition to a series of tweets and Facebook posts to your 4,000 followers. A data-driven proposal of this kind will appeal more to your potential sponsors than some hollow embellished overture.
Treat Your Sponsors Like Valuable Entities
Besides telling your sponsors what you will offer in return for supporting your fundraiser, it’s also crucial to give them that sense of belonging and recognition. It’s worthy of note that when a company agrees to sponsor your organization, what it typically wants is to build its brand image. Consequently, you should strive to appeal to people who value social responsibility and want to buy from businesses that impact society.
In addition, show a profound sign of appreciation by thanking them before, during, and after the event. Also, introduce them before your audience by letting your audience know how significant they are for the success of the fundraising event.
Communication is Key
You should learn to focus on the quality of following up and following through. It’s essential that you make your sponsors feel appreciated by keeping track of them. Adequate communication will help you build long-lasting relationships with your sponsors. It also makes them collaborators with your nonprofit’s projects. Sharing progress, news, or data from your organization, inform your sponsors about how their support furthers your mission.
About A.J. Steinberg
With over 20 years of experience as a nonprofit event planner and engagement strategist, A.J. Steinberg has produced over 100 successful events and raised millions of dollars for organizations with her Los Angeles-based production company. In 2015 A.J. launched Queen Bee Fundraising to share the art of nonprofit event planning and engagement strategies with organizations worldwide. She is a recognized topic expert and trainer and presents on subjects such as nonprofit event planning, event sponsorships, committee and volunteer leadership, generational giving, and guest engagement.
About The Host Stephen Halasnik, Financing Solutions
Stephen Halasnik is the host of the popular, The Nonprofit MBA Podcast. The Nonprofit MBA podcast’s purpose is to help nonprofit leaders. Stephen is the Co-founder and Managing Partner of Financing Solutions, a leading provider of Lines of Credit to nonprofits and small businesses. Stephen is a best-selling Amazon author and is considered a leading authority on building great, purpose-driven businesses. Stephen lives in New Jersey with his wife, Gina. Mr. Halasnik’s number one purpose is raising his two boys, Michael and Maxwell, to be good men.