Companies are looking to partner with nonprofits because consumers and employees expect them to take a leadership role in solving important societal issues and improving communities. In other words, doing good is good for business. 92% of customers say that they have a more positive image of a company when it supports a social or environmental issue (Cone Communications CSR Study, 2017).
From a company’s perspective, business “success” is the bottom line. The more a nonprofit can demonstrate an understanding of corporate objectives, brand goals and performance measures (such as ROI), the better partner they will be. The benefits of a company partnering with a nonprofit include brand awareness, access to new audiences, sales and employee engagement, all while showcasing their community support and corporate social responsibility.
As companies look to be a force for good, they are becoming more strategic about their cause partnerships as they choose nonprofit partners who align with their social purpose. These partnerships have become an integral part of business strategy as well as an effective way to demonstrate the value a company has in strengthening the communities where they live, work and play.
Historically, nonprofits sought out corporate relationships as a way to secure funding for programs, events, or grants. It’s crucial for nonprofit organizations to broaden their thinking and consider the many potential advantages and benefits beyond programmatic and restricted funding.
Partnerships are a journey. Companies and nonprofits need to first work together to fully understand each other’s goals and establish a roadmap with clear objectives that will lead to success.
Five Partnership Truths:
- Times are Changing: The Cause and CSR landscape has changed and expanded dramatically in recent years. Partnerships with nonprofits used to be a “nice to do” these community-focused strategies have become a primary focus for companies.
- Multitude of Benefits: The benefits of savvy partnerships with companies are far-reaching. Beyond restricted funding, foundation grants and sponsorship dollars, there are a multitude of ways to partner. Benefits include awareness, access to audiences that help increase the nonprofit’s reach and additional funding, strategic gifts in-kind and a range of volunteerism opportunities from boots on the ground to providing leadership-building opportunities such as skilled volunteerism projects and board participation.
- Corporate Goals: Companies are looking for partnerships to deliver on key business goals. At the top of the list are brand/mission alignment and showcasing community support.
- The Rise of Employee Engagement: Companies now prioritize employees as a key audience. In today’s low unemployment rate culture, companies are competing for talent and need engaged, passionate employees. Engaging employees in community work is a leading business strategy.
- Partnerships Take Time to Cultivate: The biggest mistake nonprofits make is expecting instant results and then giving up too quickly. Don’t rush the process – allow enough time to work with the partner to develop a mutually-beneficial plan.
Cause 101 Webinars To Fuel Your Success
Whether you approach building a better world and the bottom line from the corporate or cause perspective, For Momentum’s Cause 101 On-Demand Webinars will teach you and your team to work effectively to create corporate and social impact. The Cause 101 Webinars – corporate and nonprofit editions – are available through the EFG website and Engage for Good members automatically receive a 10% discount.
Cause Marketing 101 Webinar: Kickstart Your Social Impact Partnerships
If you need savvy strategies to create standout programs that will break through the clutter, cultivate loyal customers and employees and impress your C-Suite, look no further. The Cause 101 Webinar: Kickstart Your Social Impact Partnerships (Corporate Edition) will give you the tools you need to create CSR partnerships that will make a positive impact on your bottom line and in your communities. In this jam-packed 90-minute session, you will learn how to tap into current social responsibility and sustainability issues based on CSR research, social trends and industry regulations. Rich with case examples that paint a vivid picture of the many ways companies and causes can do well by doing good together, at the end of this course, you’ll leave with actionable insights to kickstart your social impact partnerships.
Cause Marketing 101 Webinar: Moving Beyond Sponsorships to Partnerships
Whether you’re new to strategic cause partnerships, having a hard time hitting your fundraising targets, or need to get your team up to speed yesterday this course is designed for you! In this jam-packed 90-minute session you will learn the building blocks of authentic partnerships and how to raise funds and awareness through strategic cause alliances. Tap into current social responsibility and sustainability issues based on CSR research, social trends and industry regulations. Rich with case examples that paint a vivid picture of the many ways companies and causes can do well by doing good together, at the end of this course, you’ll leave with the confidence you need to get started or get going!