Over the past few years, we have seen a number of Peer-to-Peer (P2P) events contract, as other P2P events flourish. It seems that the only events immune to the typical life-cycle arc are the actual cycling events. Regardless of the type of event, one sure-fire way to ensure long-term success is to cultivate long-term corporate partnerships.
- The right corporate partners can help recruit new participants from inside as well as outside the company via their employees, their vendors/business partners and their consumers. Engaging these key corporate audiences is one of the top reasons companies partner with nonprofits.
- Corporate partners can leverage their marketing and communication manpower and resources to help build awareness for the event and the NPO’s mission. Typically, a company’s reach will far outweigh the NPO’s and the corporate partner can be seen as an extension to their marketing efforts.
- Companies can help cut costs and relieve budget in multiple strategic ways. Companies can obviously provide product and can also provide much-needed services such as technology, shipping, registration, location and more.
As more consumers increasingly expect brands to take a stand on important social issues, companies are looking for ways to live their brand purpose. Cause partnerships with nonprofit organizations enable companies to engage employees and make a positive impact in their communities. But what makes a successful cause partnership?
To find out, For Momentum is going straight to the source to find the right formula. Over the next two weeks, we are sending out a questionnaire to over 400 companies. We are asking the Who, What, When, Where and Why questions to those involved in strategic cause alliances. For example, we want to know the most important criteria for selecting a nonprofit partner and who is involved in the selection committee. Once a partner is selected, how long does it actually take to activate a partnership? Are corporate giving decisions made at the national or local level? What are the key challenges for measuring success, and which factors lead to the end of a beautiful relationship?
The findings will be announced at the Peer-to-Peer Professional Forum on March 1 in Miami, Florida. ForMomentum’s Michele Egan Sterne will lead a workshop session along the Corporate Track to discover “What Corporations Want.” We hope you will join us to learn more in this informative session.