Our Chief Executive, Kerry Rock, shares her tips for finding businesses to support your cause when you’re new to corporate fundraising.
Depending on the size of your organisation, there’ll be different corporate opportunities available and you’ll need to tailor your approach accordingly.
If you work for a big charity, you may have national coverage and brand credibility. This could lead to larger corporate gifts or big sponsorship opportunities. The downside to this is that it’s usually the big conglomerates that have that kind of funding to give and if you don’t already have a connection, finding a way in can be difficult.
If you work for a small or medium-sized charity, you may not have the same ability to secure those large gifts. However, the opportunities you do have could be easier to access because you can offer localness and be more niche. The gifts may be smaller, but they are still significant – you could be given up to £10,000, £20,000 or £30,000. It might not be the multi-millions, but there’s plenty of money there. You can also offer community engagement, which can be an important part of the package for local corporations.
How do you identify the companies that might be interested in you?
Start by looking at your existing connections. Personal interest from senior managers, employees or directors is where the majority of company gifts come from. That’s why working on and engaging with your corporate connections is the best way of securing that gift.
There are a few key questions to ask yourself to help you identify and hone in on the right types of businesses for your cause.
- Commercial drivers – what businesses want to be associated with your brand? Are there businesses where there’s a real benefit for them to be associated with you?
- Personal drivers – who in the business wants to support your cause? Who are the individuals that you can influence to gain support for your cause?
- How can you align these two answers?
Three ways to discover specific opportunities that are right for your cause
- Start by looking at your database of current individual supporters, as many of them will be directors or leaders in companies. If they’re supporting you individually, that could be a solid route for further funding.
- Explore your supplier chain – who is your charity supporting with your business? Are there businesses there that could turn into a corporate partnership?
- Who’s working in your locality? Are there businesses close to you that you could engage? Is there a broader affinity, which could be at a national or local level? If there is alignment, a national business might be just as relevant as a local business for corporate opportunities.
At Prospecting for Gold, we have over 25 years of experience helping charities and non-profits meet their fundraising goals. If you have a question about corporate fundraising, email info@prospectingforgold.co.uk and we’ll happily help.