Corporate Giving: Best of the Basics

The key to successful corporate-giving partnerships lies in thoughtful planning, strategic execution and responsible stewardship.

Here are some tips on best practices for developing each phase of a corporate-giving partnership.

1. Be strategic when identifying a prospective corporate partner.
CEOs, marketing professionals and corporate-giving staff often all say the same thing: “Don’t waste your time (or ours!) if our missions aren’t aligned.”

Fundraisers often are told to find a way, by any means necessary, to snag a corporate partner. But at a certain point, a fundraiser cannot convince a company that has a philanthropic mission concerning domestic violence to become the season underwriter of a music festival. (Actually, you might be able to, but it would take a lot of time and major creativity!) Fundraisers must do their homework to ensure that their organizations’ missions are aligned with those of the corporations they approach.

2. Get an “in” or introduction, preferably from one of your current donors/board members or from a corporate peer of the prospective donor.
You might be a great writer and give a killer pitch, but a prospect is more likely to respond to a peer or someone who already is involved and values the partnership. Working closely with allies is key. Fundraisers must arm these people with information that can make a convincing case to the corporate partner of interest.

If possible, try to be at the meeting to offer specific information, but let the person with the “in” take the lead. If you’re not at the meeting, prepare comprehensive materials and ask your ally to get you a follow-up meeting.

3. Be creative and prepare a few partnership scenarios.
Sometimes it’s all about offering choices. Try bringing a menu of options for the prospect to get involved in. One option should be on the smaller end of the spectrum, one should be a “reach” goal, and the last should be the option that most likely will be most attractive to the prospect.

It’s a good idea to research to whom and how much that prospect has given in the past. Find out what partnerships the company has and think about ways your organization might augment these areas.

Also, try to come up with ways for the prospect company to meet new goals. Some to think about might be client-entertainment opportunities, networking opportunities, positive PR, marketing exposure, and opportunities for its employees to feel good about and benefit from the partnership.

4. Be prepared and informative, but try to avoid information overload.
Put a lid on it! It’s hard, but it’s often better to be quiet and let the donor take the lead. Fundraisers are excited and well-informed of their causes, so naturally they want to just go on and on about their organizations.

Always hold on to that enthusiasm — but keep in mind that the CEO whose ear you’re chewing might have as little as 15 minutes for a meeting. CEOs and others you would approach for a corporate partnership typically are busy and really only need minimal information from you to make their decisions. They want to know what this partnership will do for them, what it will do for you and whether or not it will be a good return on their investment. Less is often more, especially when speaking to a CEO. It’s also important to convey your flexibility and openness to their ideas.

5. Don’t ask for money; offer a killer opportunity.
Asking a CEO for $25,000 is fun, rewarding and fulfilling. Make that person feel like you’re presenting an amazing opportunity, giving him/her insider information and/or doing the company a great favor. This positive mentality translates to the donor, and he feels excited and confident about the partnership.

But if it doesn’t work out, don’t take it personally. A “no” is simply an indication that you might not have done enough homework and didn’t quite get to what the donor was looking for. Instead of feeling defeated, work on the proposal a little more and then send a follow-up proposal.

6. Practice responsible fundraising and stellar stewardship.
Don’t make promises you can’t keep. Be straightforward and honest, even when it’s difficult. Donors appreciate the truth, and they do not like surprises.

Offer very clear and easy-to-understand contracts, and suggest in-person meetings to go over the specifics of the partnership to ensure that the donor is fully informed of all of his/her benefits. Keep impeccable records, and communicate to the donor often.

7. Let your personality show through — donors like giving to fun, professional, interesting people.
How many times have you dreaded having a meeting with someone? You don’t want your donor or prospect to roll his/her eyes and wish for a trip to the dentist rather than a meeting with you! While the donor ultimately is giving to the cause, he or she will spend a lot of time with you — and it will only benefit the partnership if the donor finds spending time with you rewarding.

Kerri Cleghorn is associate director of the Business Partners of the Boston Symphony Orchestra.