The concept of charity and philanthropy in the corporate world has drastically changed over the years. Initially the relationship was simple – a company gained goodwill from providing financial support to a non profit, and the nonprofit was happy to take it. With changing times, corporates as well as nonprofits are looking to move into much deeper relationships, or rather partnerships, that contribute in many other ways. With the digital age, people are depending of crowdfunding India platforms for revenue generation and social awareness. This article will explore how nonprofits can benefit from partnering with corporates for their crowdfunding India campaigns, as well as developing long-term relationships with mutual benefit to both organizations. Here’s why:
Benefits for Corporates & Benefits for Nonprofits
In any given situation, the relationship between a corporate and a nonprofit has to have benefits to both. For corporates, aside from the obvious good will, may also gain new customers, and have increased employee retention. The reason is because companies find that customers feel more confident and safe to be involved with them if they have a philanthropic background. As for nonprofits, their gains would be revenue.
Goodwill and Branding
The corporate will have a better brand image in the market, being associated with a nonprofit. The nonprofit can be validated through support from a corporate. This is important because many nonprofits have been caught in scams and money laundering activities. Being connected to a corporate would increase the trust among potential donors.
Ensuring that you nurture a deeper relationship with a corporate will give nonprofits the greatest benefit of all – financial stability. It often happens that a nonprofit may receive funding one year through corporate donation, but not the next. This leaves them in a financial lurch. This won’t be the case with long-term partnerships.
Having covered the most important benefits of long-term partnerships with corporates, we’d like to share a few tips on how you, as crowdfunding India campaigners, can ensure you’re able to retain your corporate partner for long after your campaign ends.
Ways to retain your Corporate partner
Here are some quick tips that will help you retain and nurture the relationship you have built with the corporate:
- Ensure complete clarity in the work you carry out
- Make sure you keep your word and deliver what you promise
- Acknowledge their work for your nonprofit
- Tell them how much of a difference they have been able to make, and how many lives have been impacted. Use numbers if you have to!
In conclusion, your aim should be to look for more than just money from a corporate relationship. Try to look at it is a business partnership rather than a corporate giving you a gift.