How to Attract Corporate Funding
Most businesses only have to think about fundraising during the startup phase of their company, because usually the plan is to be making profits large enough to reinvest back into the business. For nonprofits though, things aren't quite as simple. They need to constantly raise money, year after year, in order to keep going. While raising money from ordinary folks can certainly help, what you really need are big donors who can front you a lot of cash, which is where corporate funding comes into play.
Of course, actually getting corporate donors to part with their money can be tricky. You need to convince them that your nonprofit is doing valuable work that’s worth investing in. Take the time to reevaluate your approach and you could soon see those funds come flooding in. To help you out, we’ve put together our top three tips on how to make your nonprofit as tempting as possible for big businesses to invest in. Take note, put them into practice, and you could take your fundraising game to a whole new level!
Share Your Story
On a basic human level, we connect much better with stories than just lists of information. From the bedtime stories our parents tell us as children, to the movies we watch as adults, storytelling is a valuable part of human interaction. They are especially important for nonprofits as well. Since you will be trying to convince people to invest in your company without necessarily getting anything in return, you need to be as convincing as possible- so use storytelling to your advantage. Play up the importance of the work you do and highlight the struggles and hard work you have gone through to get to where you are today. Remember, even though it’s corporate money in play, there’s still an individual that you need to convince to invest, so make every effort to connect with them on a personal level instead of just bombarding them with facts and figures.
Offer Sponsorship Opportunities
Believe it or not, there are some companies that seek opportunities to give money on behalf of just doing some good in the world, but most of the time, companies will want something in return. This is where sponsorship comes into play. By displaying your corporate partner’s logo on promotional materials and at events, you’ll be telling the world that they are a company that cares. That makes for extremely valuable PR, since goodwill is hard to buy. Before approaching potential corporate donors, make sure you’ve planned out how the sponsorship system will work. Don’t be afraid to ask them what they would like to get out of the partnership either. That way, you get the money you need, and they get a great marketing opportunity- everybody wins!
Build a Buzz on Social Media
Sometimes you need to be the to approach donors, but if there’s enough public interest in your nonprofit, then you might find that donors start coming to you. The easiest way to generate this buzz around your company is through effective use of social media. Even if your nonprofit is still in the early stages, you can still share the idea behind it to get people talking about you and what you are trying to do. Enlist your friends and family to share your page with all their followers and keep persevering. Before long, you should have a healthy amount of public interest in your company, and hopefully corporate sponsors will take note.
Grow your business with Professional Women's Networking Association Today!
Become a member and get your first month