Consumers want for-profit businesses to be value-driven and take an ethical stand on important societal and environmental issues. This Barron’s article found nearly 60% of Americans want the companies they buy products from to have a position about issues such as racial discrimination and social justice. When nonprofits and local businesses work together, both benefit.
Partnering with nonprofits demonstrates corporate social responsibility, which can give for-profit companies a public relations boost. According to the Nonprofits Source, 90% of corporations found partnering with reputable nonprofit organizations enhances their brand and 89% of businesses believe it leverages their ability to improve the community. Nonprofit partnerships can help a business become more profitable and attractive to consumers. Consumers value transparency about how businesses spend their money for philanthropic community involvement.
Corporate partnerships help nonprofits get the word out about their cause, act as an endorsement of their work, and expand their donor base. For many nonprofits, especially smaller ones with few volunteers or support staff, business partnerships can be an effective avenue for growth. Nonprofits can benefit from the expertise, network, and resources of their corporate partners to boost their organizational efficiency to help them achieve their goals.
Here are some steps nonprofits can take to create and nurture mutually beneficial relationships with for-profit companies.
How nonprofits can find business partners
When searching for the right corporate partner, this Candid article recommends nonprofits seek out local companies that are open to the idea of partnership with values that are aligned with the nonprofit’s values. For example, Nature Valley teamed up with the National Park Foundation to finish restoring access to over 10,000 miles of national park trails. Nature Valley officials say their brand is about bringing people closer to nature, which makes sense because outdoor enthusiasts often bring granola bars with them when they hit the trail.
There are organizations that link nonprofits with corporate partners. For example, Life Science Cares is a collective organization that connects the life science industry with nonprofits fighting poverty in target cities nationwide and works with 27 nonprofits across Greater Boston. The nonprofit harnesses human and financial resources from companies and industry leaders and commits them to organizations that improve education, workforce development, and sustainability for individuals in need.
Once a nonprofit finds a company they would like to partner with, Candid recommends identifying the staff member most likely to be receptive, whether that person works in community engagement, employee relations or human resources and send a letter explaining the benefits of the partnership.
Make the relationship last
Gaining a partnership is one thing. Maintaining it is another. Nonprofits should schedule frequent check-ins. They should let their partners know about upcoming events, social media campaigns, donation drives, etc. or through stories of impact through traditional media or digital marketing promotional materials. They should thank the business for their help in improving community programs, or for making a new venture possible. This is a great way to reaffirm their decision to form a partnership. For example, Boston Uncornered used social media posts to give thanks to their host committee, corporate and community sponsors at their 2020 Uncornered Fundraiser.
Enhance social giving initiatives with a social media toolkit
Nonprofits should give corporate partners a social media toolkit containing resources that they can use to easily share the news about social giving campaigns on their social media platforms. It’s similar to a media kit, but instead of elements for reporters like press releases and press mentions, it contains information for social media marketing. A good toolkit should contain these essential elements:
- Summary about event, campaign or donation drive
- Stories and data
- Campaign and nonprofit hashtags
- Graphics, photos and videos for promotion
- Pre-written content for businesses to share on their social channels
Partnerships between for-profit businesses and nonprofits can be an effective tool to benefit everyone –including the community members that the nonprofit serves. It’s a powerful force that can and should be used for good.
