To create a partnership that works for both sides, both parties must understand each other’s ethics and standards. Nonprofits must also research the companies’ senior executives, resources, and ethics. This way, they can choose a partner that will align with their goals.
Collaborations
Collaboration is simply two or more people (or organizations) working together to achieve the same goal. Collaborations between nonprofits and brands usually create purposeful pieces and tout the brand’s social impact. Many nonprofits continue to use their brands primarily as a fundraising tool, but a growing number of nonprofits are developing a broader and more strategic approach, managing their brands to create greater social impact and tighter organizational cohesion. For example, Forever 21 partners with another brand, and this partnership may promote youth empowerment.
Collaborations between nonprofits and fashion brands are a growing trend in the fashion industry. According to one survey, 70% of consumers prefer brands that take a social stand on issues. And younger generations place greater value on brand value than price. So, fashion brands have partnered with nonprofits to support underrepresented groups in the industry. In some cases, these partnerships are performative, while others may be essential to the brand’s mission.
The Fair Wear Foundation, for example, aims to reduce the amount of textile waste that goes to landfills. Due to its initiatives, the group has saved 23 tons of clothing from landfills in Hong Kong. The organization also collaborates with designers and NGOs to build sustainable supply chains.
Benefits
Having a good partnership with a nonprofit can have many benefits. Not only does it help to make the community more aware of the brand, but it can also reinforce or maintain existing skills. They are a very good way to improve communication, enhance relationships, and involve community members in an organized and shared approach to community improvement. There are many other reasons to work together. But consumers also want to know that companies are supporting a worthy cause. Partnerships can also help nonprofits improve their marketing channels and increase their revenue.
Brands can benefit from nonprofits’ extensive budgets and consumers’ desire for brands that care about social causes. “Cause marketing” is a new marketing channel that can create powerful partnerships. For example, the Gillette ad against “toxic masculinity” has drawn praise and calls for boycotts and has received more than 65 million views across digital platforms. These large viewing numbers seem to translate into increased sales.
Partnerships between nonprofits and for-profit businesses have many benefits, including positive internal effects on employees. One example of a business-nonprofit partnership is volunteering. It has been proven to boost employee retention and improve employee well-being. Ninety-three percent of employees who volunteer for nonprofit organizations are satisfied with their employers.
Challenges
For nonprofits, the partnership can help them achieve their mission. But they can have difficulty forming successful partnerships, especially if the two teams are not aligned on operations and metrics. Fortunately, there are ways to overcome these challenges and make your nonprofit successful.