Pave The Way For Easier Corporate Partnerships
April 23, 2018 THE NONPROFIT TIMES
Entities all over the country are faced with the challenges of doing less with more and trying to be elevated above the typical rat race. Some associations have taken to corporate partnerships, but such partnerships face a number of challenges including partners’ desire for return on investment, skepticism among boards and staff, and mission alignment.
- During their session, “Develop ‘Win-Win’ Corporate Partnership Programs” at the 2017 American Society of Association Executives Meeting & Exposition in Toronto, Ont., Bruce Rosenthal of Bruce Rosenthal Consulting and Zachary Sikes of Expansion LLC, discussed key considerations to think about and pursue when looking at a corporate partnership. Those included:
- Align the mission with an eye on making a stronger association out of this partnership;
- Maximize revenue;
- Get staff and board members to embrace the program;
- Provide information for members. This might include research, webinars, surveys, checklists, and the like;
- Address the partner’s business needs. This might include a value proposition, exclusivity, customers, and other partnerships. This could also be done via a business needs assessment, similar to what a marketing agency might do. Also, don’t be afraid to ask corporate partners what they want; and,
- Hype up what you bring to the table such as intellectual and brand assets. This might include things like member demographics.