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Whether you are a chief executive, a fundraising director, or a corporatepartnerships manager, you want to build high value corporatepartnerships. These partnerships will help you deliver more value for less effort for your charity and your corporate partners.
When non-profit leaders set partnership targets at the end of each financial year, they’re invariably about income. Apart from staff salaries, they often overlook the true costs of corporatepartnerships and how to assess them properly. Probably not- so why are you waiting to explore corporatepartnerships?
We find that there are 3 main routes for the accidental partnership executive. The corporate escapee. You’ve had a challenging role in corporate life, and you want to make a difference. Surely there’s more to life than selling insurance or marketing Dettol? You may have corporate volunteers or participants.
Last week we presented at a conference on the principles of pitching for corporatepartnerships. It turns out that IKEA is actually the secret weapon in extracting more partnership value. We once facilitated such a workshop between a mental health charity and a health insurer.
(Liang and Renneboog, 2017) Corporate philanthropy generates “positive moral capital” among a company’s stakeholders that is well received by them. Godfrey, 2005) This moral capital acts as “insurance-like protection” for the company’s intangible assets, particularly its relationships with stakeholders.
A more effective approach is to include the partner in some structured, facilitated discussion about the partnership. Before the COVID crisis we facilitated a discussion between a mental health charity and one of its largest partners, a health insurer. Include your colleagues. Or that’s what they told us.
When working at The Prince’s Trust and onboarding new corporate partners in the insurance industry, this was always an essential topic to discuss with potential partners before finalising the agreement. Minimum guarantee We recommend you include the financial terms of your partnership – both income and expenditure (if relevant).
Key takeaways CPA (cost-per-action) is a legal barrier for organizations that sell products covered by insurance. With the help of impact.com’s purpose-built partnership platform, the team set the foundation for the brand’s growth and success. CPA is a legal barrier for organizations that sell products covered by insurance.
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