Eight Tips for Successful Corporate Partnerships

//Eight Tips for Successful Corporate Partnerships

Eight Tips for Successful Corporate Partnerships

There is no question that corporate partnerships are a wonderful asset to non-profit organizations. corporate partnership tips for risk management in nonprofit organizationsHowever, many non-profits working hand-in-hand with corporations also deem these partnerships as a challenge to maintain. Here are 8 ways to ensure your non-profit’s corporate partnership is successful and long lasting.  

  1. Mapping. Recognize that your organization and corporate partner both have your own unique sets of skills, expertise and resources to bring to your partnership. Determine what these are, and use them to assign roles and responsibilities to each party.
  2. Measurement. Show your corporate partner that your nonprofit is an asset to their corporate citizenship efforts by determining factors that will measure the value of their sponsorship and its ROI. Providing them with these statistics on a regular basis will leverage their commitment to a long-lasting partnership with your nonprofit.
  3. Expertise. Learn the ins and outs of your corporate partner and their industry. Putting forth the extra effort indicates that you are truly interested in the well being of their organization. Keep in mind that as partners, you are also representatives of one another.
  4. Flexibility. As with any partnership, compromise and flexibility are key to a happy, long-term relationship. If your corporate partner proposes a brand-new way to plan your next community event, for example, try to accommodate to their request as much as possible, within reason.
  5. Leadership. Demonstrate your commitment to your partnership by continuously establishing and assessing clear goals and objectives for your relationship.
  6. Giving. While partnerships are a two-way street, giving more than what you commit to every so often and going above and beyond your partner’s expectations clearly shows your level of dedication and commitment to your partnership and can make all the difference in its longevity and growth.
  7. Branding. Make sure your partnership is known through strategic communications such as newsletters and social media, and continuously create new content to doing so. “Freshening up” your partnerships’ messages helps others see your relationship in a new light, which in turn draws in more interest from both the corporation’s customers and your potential donors.
  8. Progress. As the saying goes, “There’s always room for improvement.” Each year, take the time to analyze your partnership’s efforts, programs, donations, etc. to determine where and how they can be improved. A partnership that continuously makes progress is one that is built to last.

A successful and long-lasting partnership is one that is mutually beneficial, helping each other continuously grow and thrive. Our team of nonprofit risk management experts here at Brown & Brown is here to help your nonprofit organization succeed.

Photo Credit: SalFalko via Photopin cc

By | 2016-11-04T16:07:47+00:00 March 21st, 2016|Non-Profit|0 Comments

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