Seven Steps to Sponsorship Success
3) Pro-actively discuss with donors and/or sponsors what they want. Don’t take a passive approach in hopes that the subject won’t come up. Handling things up front is far more advantageous for everyone.
4) Understand your value. Marketing benefits should not be given away to donors if sponsors already are paying for them. It dilutes the value of current sponsorships and creates a disincentive for companies to sponsor.
5) Require promotional commitment in exchange for sponsor benefits. This will ensure that the nonprofit receives some value for its assets.
6) Include a servicing fee. Strategic philanthropy programs require staff time and resources to support them, thus nonprofits should be compensated for those resources.
7) Set policies and guidelines. Formal policies provide the ground rules, both internally and for sponsors, about what is acceptable and what is not. Why guidelines are important: Ethical standards protect against controversy and backlash; permission to use nonprofit’s marks and logos protect its name and reputation; and “out clauses” allow for a clean break in case of problems with a corporate partner.
Patrick Pierce can be reached via www.sponsorship.com.