Choosing a for-profit partner for your nonprofit has tremendous potential to help your organization and drive your mission forward, if you do it right. And today, when traditional funding sources are smaller than ever, corporate partnership is a strategy you can’t afford to ignore. And there are many great examples where such partnerships are a genuine win-win.
Cause marketing, the most popular type of nonprofit/for-profit partnership, was a strategy used initially by national high-profile organizations like American Express and The Statue of Liberty-Ellis Island Foundation. But today’s options for effective cause marketing are much broader than that, reaching to the local level. But the key question remains: How do you assess whether cause marketing is the right strategy to pursue and, if so, how to start?
Nancy: Joe, we all hear about the big players and their successes. How can small and medium nonprofits get started with cause marketing?