How to Develop Your Section's Corporate Relations
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How to Develop Your Section's Corporate Relations
- 1. How to Develop Your Section’s Corporate Relations Leadership Coaching Committee (LCC)
- 2. 2 By the end of this session, you will be able to: • Understand the corporate relations cycle. • Recognize the key items to include in a SWE information packet for companies. • Develop and maintain corporate relationships for your section.
- 3. Corporate Relations Cycle Define Objectives Create a SWE Info Packet Communicate & Cultivate Relationships Express Gratitude and Gather Feedback
- 4. 4 Think like a CEO. Return on Investment “Your organization benefits because….” Define Objectives
- 5. 5 A relationship with a company is a two way street. What do you need? What do they have? What do they want? What can you provide? Define Objectives
- 6. Who is likely to give to SWE? Those with Connections Those with Ability Those who Understand 11 Compile a corporate contacts database Define Objectives
- 7. Document your ROI in a sponsorship packet. • Contact information • Justification of support • Donations requested • Calendar of events • Target audience • Section profile • Pictures Create SWE Packet Tip: Be concise
- 8. Distribute your packet to your contacts. • Email to companies in the area • Section website • Career fairs • Conferences • Professional SWE meetings • Bring to engineering events • Ask Deans, Administration and other University officials to pass on to corporate contacts Create SWE Packet
- 9. Follow up and create a feedback loop. • Make sure they got the packet. • Ask if they have any questions regarding info you sent. • Find status of the request…are they giving? providing speakers? • Provide assistance for payment • Send pictures Update your corporate contacts spreadsheet with any feedback. Cultivate Relationship
- 10. 10 Show companies their impact on your section. Emails Thank You Cards Website Recognition Banquet Invite Phone Calls Express Gratitude
- 11. 11 Key Points Identify your return on investment Communicate effectively Keep thorough documentation
- 12. Corporate Relations Cycle Define Objectives Create a SWE Info Packet Communicate & Cultivate Relationships Express Gratitude and Gather Feedback
- 13. Questions?
- 14. 14 Session Evaluations Coach’s Name Contact Information QR Code link to online survey if applicable. Please fill out the evaluation form!
Notas del editor
- Introduce yourself as the presenter and the Leadership Coaching Committee as a part of SWE. Thank the attendees for joining you today. Let the audience know that they can ask questions at anytime or if you’d like them to wait until the end, let them know that too. Set any ground rules for the presentation (breaks, no side conversations, cell phones off, etc.).
- Define Objectives: Survey needs of members, community, and corporate sponsors. Determine how they overlap and what events can serve the most needs. Prepare SWE Info Packet: Include events and other sponsorship opportunities. Also add pictures of officers and past events! Distribute SWE Packet: Identify likely donors (past donors, local businesses, alumni connections, family connections, etc.) Once you have emails for organizations, draft, review, and send email to potential sponsors, with SWE packet attached. Follow up: Designate officer to be main point of contact to follow up and track activity and responses from companies. Create spreadsheet to track responses. Build the Relationship: Continue discussion throughout the year and add company logo to website (with permission). Provide pictures and feedback on event, invite companies to various events, make them feel like a part of the team. THIS IS ONGOING. Thank you!: Thank companies after donation, after event/funding is complete. Send thank yous out before asking again for a donation. Determine Who? And do a needs analysis Compile a packet to meet those needs Distribute communications (and don’t be discouraged), follow-up If connection is made, cultivate relationship Express Gratitude
- Companies will donate if there is a benefit for them, determine this benefit before soliciting support.
- This exchange of values is the heart of marketing Your organization benefits because…. Explain that part of investigating your section includes understanding how to market your section. Explain that these are some leading questions that could help formulate a donation request. State the programs and initiatives that need funds List your funding goals Provide participants with the “What I Think…” handout. Give them a few minutes to complete the exercise. Gather information from the participants on their responses. Companies will donate if there is a benefit for them, determine this benefit before soliciting support.
- Those with Connections – contact, involvement or link with organization Have participants tell you what happens when you drop a pebble into a pool. They will say something like the splash is in the center and ripples go out from the center and diminish in size as they leave the center. The splash in raising money is like this. The people most involved in your organization belong in the center of the bull’s eye. Companies at your career fair Members at local professional section Donors for other on engineering organizations Those with Ability – the authority and budget to give money (and a history of giving) Those who Understand – Leaders and business persons who understand and care about SWE’s mission Whatever you do, whoever you find, make sure to capture their information in a corporate contacts database. Then you’ll have that contact information for the future and you’ll have a log of their contributions history over time (so you can track how their “ability” changes). Example of things to include in “donor file” included: who donated (individual vs. company), date of donation, what specific program/item was donated, and their contact information. The center of this diagram are the people actively involved in your section. What groups are they? (These go in the center)—The board, the committee chairs and committee members, suppliers, former officers, present funders, those who have given, etc. SWE member, employer of SWE member, Volunteers, past and present contributors In the next circle out go people related to those in the center: Relatives of the board and committee chairs, employers of these, corporate contact of present corporate funders, organizations those at the center belong to like Rotary, Mechanical Engineers Associations, School districts where their children go, neighboring businesses of suppliers, etc. Program participants, Parents, People with similar interests The next circle are those interested in what we do such as local government, school superintendents, community organizations, businesses, personal friends, like businesses to ours in the community.
- Ask participants if their section uses an information packet to solicit funds from potential donors. Explain that part of investigating your section includes understanding how to market your section. Explain that these are some leading questions that could help formulate a donation request. (Questions in “How to Structure the Ask” form) Share that it is vital to have a well organized, concise, articulate information packet. Explain that the donation request should be customized to the donor (avoid a generic “corporate packet” in order to maximize gains) and the actual request (what are you asking them for and how much money is involved) should be at the very beginning. Don’t make a donor search for this information. Explain that contact information should come next for the same reason. Explain that a justification of support (why should this donor support SWE and not some other organization) is good to include, especially for donors not familiar with the section. A calendar of events is important in case a donor prefers certain dates to sponsor events over others. The calendar could be presented in a tabular format to include things like event name, a short description, the target audience (like high school students, working mothers), the number of participants (share either past numbers or realistic projections), and any other groups. Ask participants what may be included in a section profile. (section location, mission or vision, number of members, awards or special recognitions, etc.) Share that donors always enjoy pictures so if a section is approaching a previous donor again, to share any pictures that may have been taken from past activities.
- Explain how to get the word out by different methods and different people. Ask if participants have any other ideas on how to distribute the packet.
- Remind participants about the fact that the FOLLOW UP is VERY IMPORTANT. One way to explain the importance of follow-up: People always want to know how serious you are about asking for money. They want to talk to someone or put a name to a voice/face. In some cases, potential donors want to know more information and be able to communicate what their wants and needs are through the SWE organization. By personal contact, you help reinforce a working relationship. Talk through the bullet points: Follow-up and say hello to the person you directed the packet to. Did they receive the packet? Ask if they have any questions regarding the information that was sent out to them. Ask them specific questions. Did you know we have the largest SWE bake sale last year raising $450? Are you aware that SWE is the largest growing club on our campus? Pick a few great attributes relating to how you can help their company out if they help you out. Win-Win Situations are always great. Companies will want to know how they can get the most visibility for the funding/support they provide. Are they willing to provide monetary funds for your section? Is the company willing to give something other than money? Perhaps a new speaker, a tour, some training in a new area for your section? What about advertising any summer or full-time positions for the students on campus? How will the company be recognized for their efforts? Explain that donors provide funding because they expect something from the relationship. There should be mutual gain in the relationship (section gains funds and the donor gains access to female engineering students, for example). Ask participants if they can define what they can offer in a relationship with a donor. Keep records of their gifts. Cultivate them in many ways. Make sure they get your newsletter, phone calls, invite them to an event (especially if they funded a specific event), etc. Give them recognition they want. Fund development does just not happen. If you are raising money for this year now, you’re too late. You need to be proactive not reactive. Plan for three years rather than one. Funders want to know your vision and where you are going in order to buy in. Where do you want to be in 3-5years? Another important point is that you need a stable base of long-term support, not just a putting out of fires form of fund raising. The section needs donors who will support it year after year.
- Explain that thanking donors is vital to ensure continued support. Not only should a section show value back to the donor (the donor must feel they are getting good value out of their investment), but the donor should also feel appreciated and a simple thank you and recognition is a must. Ask participants if they have any additional ways they thank donors. Tell participants that a list of donors will be needed when filling out the financial report. Email or Thank You Card Include pictures Thank them on your website (get a logo and permission to use it) Make sure they notice the visibility their donation has brought them Invite them to a Banquet Present certificates of appreciation or a decorative plaque. Phone calls Update them and say thank you Donations of $250 or more should receive an acknowledgement letter!
- Remind participants that once the thank you’s are completed, the cycle begins again. To successfully fundraise and secure funds, a section must continually reassess their section and their support, continually build relationships, and continually communicate with current and potential donors.