Our Chief Executive, Kerry Rock, shares her tips for finding corporates to support your cause.
Corporate fundraising can offer a wealth of opportunities for organisations of any size. It doesn’t just mean being named charity of the year, so don’t worry if your organisation doesn’t fit that mould. Here are six tips for finding the right business to support your cause.
Wealth screen your existing database
It’s always worth wealth screening your existing database as many of your supporters will be directors or leaders in companies. A wealth screen will identify local business owners, PLC directors and FTSE 350 leaders. Digging deeper into the pool of people who are already supporting you, who they are, what their relationship with you is and what businesses they’re involved in will start to unlock some of those corporate connections.
Take a punt on prospecting
Prospecting will identify the people already supporting your cause who can link you to the people you want to reach. Are your current supporters connected to the businesses you want to approach? In one of my previous roles as a trustee, there was a national business that was based locally that we thought would make a great supporter. We put a call out to our key volunteers and two of them were able to supply a personal introduction. So although we didn’t have a direct connection to the business, those individuals were able to give us an in and it did turn into a great ongoing corporate partnership.
Do some cold research
Which businesses have an affinity to your cause and the capacity to support it? It can be really difficult to suss out what a business’ giving policy is as it’s rarely on their website. So start by searching for profitable local businesses in your area. Who’s active in the area, who’s making new hires and who’s generating positive coverage? These could be signs that business is going well.
Take a systematic approach
Map out all the constituencies you might be able to fundraise from – these could be businesses working in the law, IT, fashion or finance, whatever is relevant to you. Then get together a ‘contacts needed’ list – this contains all the people you need to speak to to get your foot in the door. Run prospecting groups with existing supporters from the local community, local businesses and different sectors. Ask these groups to review your contacts needed list and see if they can offer an introduction. New names and opportunities often come up during these groups, so it’s well worth putting the effort into nurturing these existing connections.
Stay up-to-date
Keep an eye on what’s happening in the business world. The financial pages in newspapers (like the Financial Times, City AM or the Evening Standard) will enable you to have conversations with your key corporate players and help you spot opportunities that might give you an in.
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.