Keeping a relationship of any kind going is hard, am I right?
Starting new relationships can be hard and keeping them going can be even harder. What makes it more challenging is when those in the relationship are unclear as to what it is that brought the two parties together.
The secret to building a successful partnership – one that benefits both parties – is in the questions that you ask.
1. Why are you supporting my charity?
2. What would success look like for you?
3. How are you measuring our partnership?
With the answers to these questions, you can begin to understand if the company is giving to you … to meet a marketing need or as a donation. And knowing this is key to building a strong relationship and to renewing your partnership.
If it is a marketing need that the company is meeting through their support, it would mean they are giving to you for reasons such as:
1. to get more customers
2. to share a specific message with your audience
3. to grow recognition of their company with people who support you.
Make sure you know which of these they are looking for, and how they are measuring it. With that in mind, you can deliver and report on how you delivered, without all sorts of extra guessing!
On the other hand, the company could be giving to you because they believe in your mission and they want their funds to directly support the difference you make in the world.
In this case, the company is giving to meet a philanthropic objective goal. If this is the reason behind the gift, then the support is a corporate donation or a corporate grant. With this sort of support, you need to be delivering impact measurements and lots of great stories of the work your charity is doing.
I know right now you are asking yourself why it matters?
I mean, if you are trying to raise money for your cause, both cases are a win and are achieving your goal of supporting your charity. But, we want our relationships to be successful. And successful relationships deliver what both people want.
Given the big difference between what you deliver for sponsorship and what you deliver for a donation, you can appreciate that having clarity on what is being given and why is the only way to successfully meet your mutual goals.
You’ve got this!
If you have any questions or need a little extra help reach out to me at [email protected]