This week has been another time of growth for me. It is amazing how God knows just what we need and then He sets us up with the tools that we need BEFORE we even know that we need those specific tools!
I am starting to dive into the realm of fundraising and sponsorships and it is so much fun! The VISTAs had homework to prep for our Friday brown bag breakfast meeting. At first, I thought that fundraising probably would not affect me directly. Ian did bring up an excellent point in our meeting though. If I present a poor face for the City of Refuge, a volunteer or member of the community will be less likely to want to participate in sponsorship. Each VISTA makes a difference and can impact fundraising.
I took copious notes during the "homework" sessions online, before I even realized that I would be pulling out those notes for actual "boots on the ground" work. Perhaps my notes would be helpful to you?
Segment One
Sponsorships for Nonprofits Skills Success
Robin Cabral, MA, CFRF
Most nonprofit organizations have at least one annual special event
The least cost effective events cost .50 for every dollar raised.
The event must cover necessary expenses before the event goal can be calculated.
Most organizations lack the know how to identify, solicit, and steward donations.
Who are your targeted sponsors?
Prior supporters
What do you know about them?
What is in it for them?
Keep track of sponsors in a database.
What are your sponsorship levels?
Are these levels attractive to targeted sponsors?
What’s in it for them?
Individual donors are more philanthropic than organizations, usually.
Sponsors
Create a sponsor list.
List of likely sources and their causes (what specifically resonates with them?)
Compile a list of prior supporters and their motivations.
Know your demographics (are they a women’s group, etc.)
Sponsorship Levels
Create sponsorship benefits and packages. Make it meaningful to your organization and to the sponsor.
Nonprofits should raise half of the minimum goal through sponsorships.
Businesses are limited to corporate marketing budgets. You can appeal to their marketing
budget (getting their name out there) and to their philanthropic budget.
Give incentives for generosity not motivation
Consider WIIFM (What's in it for Me)
Custom tailor to justify how the market audience will be reached by their sponsorship
Levels
Gold, silver, and bronze levels (rebrand for your org)
Exclusive sponsor branding (this sells)
Give them a VIP participation experience
Corporate naming rights for other possible sponsorship items (reception, dinner, program, mixer,
etc.)
Radio spots or joint appearances with sponsors
The opportunity to chair or co-chair at an event?
The CEO gives a welcome message at an event?
Sponsor related incentives or giveaways?
They can use your brand on their company communications (we give here) and vice versa?
A gift?
A stewardship ad to their trade publication?
A link to the sponsor’s website from your website?
Segment Two
Rate, Rank, and Reach Out
Once a prospect list is compiled and sponsorship opportunities are outlined, the next step is to rate and rank your list.
Determine prospects with the highest degree of interest in your cause.
Determine prospects with the most significant capacity.
Now approach the top ones.
Segment the list according to the stewarding method based on tiers. Use in person versus another method.
Recommend NOT soliciting everyone with the same method.
Consider in person visits if you are seeking the most significant gift.
If targeted for potential upgrade sponsorship (higher level).
Sponsorship is relational like all else in fundraising development.
Determine who has the relationships with the major donors and leverage those
relationships to ask in person for sponsorships.
Reach out to sponsors:
Schedule meetings with top donors, when you can,
Once major donors are segmented out, then mail sponsorship letters to the rest. Include benefit levels.
Display your sponsorship program on your website. List details like levels and prices.
Post this in a visible or easy to access landing page.
Coordinate updates between the website and the sponsorship staff.
Promote success stories. Post them on the website.
Calculate statistics (number served, money raised, etc.), and support with photos and stories.
Stories engage people and motivate them to empathy.
Don’t stop there!
Don’t stop after the visits are made and the letters are sent.
Employ robust follow-up strategies. This is crucial!
Event committees should have members with connections that they can leverage in the community.
Segment Three
Followup Strategies:
Once the letters are sent out, don’t just wait to hear back from organizations. Get on the phone and talk to them.
You may need to resend the email or the letter.
Sometimes people get busy or the SPAM folder gets it.
Count on having to resubmit information and determine who needs to get that information (directly).
This is gold because you want the point person.
Have urgency because you have a sponsorship deadline.
Remind them of deadlines.
Remind them of your history with prior sponsors and the impact they get.
Practice diligence. Monitor!
Be ready with the potential objections (no money in the budget). Seek earlier rather than later in the year.
Understand organizational budgets. They plan their budgets in the fourth quarter for the next year.
Call when they are planning the budget.
Ask them when it happens so that you know when to call in the future.
Consider custom tailored benefits, especially for the top level sponsors.
Be flexible and customize.
Demonstrate belief and passion in your mission.
Manage Sponsor Benefits:
Ask them what excites them?
Keep the ideas in bounds and realistic for your organization to fulfill.
The worst thing is to promise something and not follow through.
Track the promised benefits on a spreadsheet.
Check things off when you follow through.
Have a post-stewardship plan drafted before the event even concludes.
You don’t want to lose the energy.
Collect stats, maybe with surveys. Demographics. Social media likes.
How many times in print or radio? Then put a report together to show how their contribution helped your organization.
Send it with a thank you letter.
Send the report and letter in a timely manner.
Maybe have a meeting if it is a top level sponsor.
Build relationships.
Go back to past sponsors to see what worked and didn’t work for them.
It keeps them engaged as well.
Send them updates and newsletters.
Getting the feedback is critical.
Conclusion:
Ask if they would consider a sponsorship next year.
If they had a terrible time, take their feedback.
Get back with them about the changes you made based on their feedback.
And of some have compassion, making a difference: Jude 1:22 KJV
Click here to find out more about sponsorship opportunities at City of Refuge.
All opinions expressed here are solely mine and are not a reflection of the opinions of the Americorps VISTA program
or of City of Refuge in Columbia, MO.
Comments
Post a Comment