Media Sponsorship – A Missed Opportunity for Nonprofits
It’s never a wise business move to leave money on the table, and that’s especially true for nonprofit organizations whose income streams directly affect the lives of the individuals they serve. And yet, many nonprofits continue to overlook one particular avenue for generating potential sponsorships: through digital media.
In truth, most nonprofits are very well-versed in fundraising, and they do it quite well – by soliciting government grants, major gifts and individual and corporate donations. But more often than not, these organizations rely heavily on event sponsorships to capture corporate funds, and this comes with its own set of challenges and drawbacks. First, event planning requires a huge amount of time, operational support, and manpower to effectively pull off. On top of that, the dollars collected from corporate event sponsorships usually cannot be allocated as unrestricted income and instead must directly support the particular cause the event is raising money for.
Still, many nonprofits are hesitant to cut back on the number of events they host because they’re afraid to lose out on that guaranteed income source from event sponsors. But the truth is, securing ongoing media sponsorships from your corporate partners, rather than one-time event sponsorships, can be much more lucrative in the long run – for both the organization and the sponsor.
It is tremendously beneficial for corporations to demonstrate their social responsibility – it can lead to an increase in employee retention, recruitment, and brand awareness – and there is arguably a no better way to do that than through social media. Most nonprofits have a fiercely loyal and devoted following of supporters who they communicate with regularly, both traditionally (direct mail, events) and digitally (social media, website, email marketing). That is why we have worked with our nonprofit clients to develop media sponsorship opportunities. In exchange for sponsorship dollars, corporations who sign on as media sponsors receive mentions, promotion, and cross-marketing through all of the nonprofit’s social media outlets, plus prime logo placement on the organization’s website, strategically planned mentions in email marketing campaigns, and much more – all of which keeps the corporation’s brand in the spotlight over an extended period of time, rather than for just one day (at an event).
Meanwhile, the benefits for the nonprofit are quite simple: the organization gains re-occurring revenue over an indefinite period of time, and that money can be allocated to unrestricted income.
Of course, there is a fair amount of work that needs to be done first before a nonprofit can start successfully soliciting media sponsorships. First, an organization must build up its social media following, website hits, and emails lists – a process that can usually be completed in three to six months with the right strategy. Once the foundation is in place, most nonprofits can charge anywhere between $250 and $1,000 per monthly sponsorship, and they don’t have to limit the number of sponsorships they sell as long as they manage their media calendar appropriately.
To learn more about the benefits of media sponsorship, contact us to schedule a consultation.