How to solicit corporate support
July 28,1995; Canadian FundRaiser
When approaching corporations for charitable support, and trying to establish a corporate partnership, it is important to understand what corporate donors want and need from you. Speaking at "Corporate Donations - Myths, Realities and Opportunities", a Source Group seminar, Robin Holden's presentation ran the gamut from hard realities and trends in Canadian corporate giving, to practices, new opportunities, the volunteer component and partnership building.
Reinforcing the need to be prepared and professional when making the 'ask', Holden identified the ten biggest mistakes made:
- Not being prepared
- Improperly addressed direct mail
- Failure to understand the interests of your prospect
- Not knowing the donation policies of the prospect
- Sending in the 'heavy guns' without preparation or product knowledge
- Asking for too much
- Not saying thank-you effectively
- Not being prepared to discuss donor recognition and follow up
- Not having several options for the donor to consider
- Ignoring the donations officer.
Holden suggests you include: your proper (legal) name and address; confirmation that your board is active along with a list of who is on it; your charitable registration number; a copy of your Case for Support explaining why the corporation should give you money; an explanation of what the money is needed for; other options the donor may consider; endorsation including a list of who is involved with, giving to or about to be asked to support your cause; a copy of your most recent audited financial statements; and a clear statement that answers the corporate donor's question "What is in it for me?"
Finally, you will save time and money in your corporate donations program if you:
- Keep your printed materials simple and to the point
- Limit your campaign to a short, well targeted list
- Prepare your volunteers in small group meetings with one hour agendas
- Communicate with your volunteers by fax
- Do your research on names, addresses, etc. as close to your start date as possible
- Use a data base system that links easily with a word processing system that can also do tax receipts
- Limit solicitation accounts to a maximum of 5 per volunteer
- Establish a clear timetable for check-in and reporting
- Give potential donors lots of options for support
- Prepare standard responses/letters for several situations
- Respond quickly.
