Get tips for finding a matching partner to maximize your #GivingTuesday fundraising.
While simply participating in #GivingTuesday is amazing, many nonprofits are leaving money on the table during the single biggest giving day of the year. How? By not partnering with a #GivingTuesday matching funds donor.
Here are three reasons why you should find a matching funds donor for #GivingTuesday.
A matching funds partner will inspire your regular donors to give even more because their donation will go further.
The partnership will build a bigger buzz around your cause.
Reach a new audience.
Depending on the match, you could double the donations you receive.
However, finding a matching funds partner takes planning and strategy. You have to make sure you find a partner whose values align with your cause and who has the ability to match the projected level of donations you’ll receive. Plus, it takes time to setup your matching fund campaign, and you want to concentrate your donations with one or a few partners to maximize the matching gifts you’ll receive.
That’s why we’re sharing our best tips for finding a matching funds partner in our Guide To #GivingTuesday matching funds.
Types of #GivingTuesday matching funds partners to consider
There are different types of matching funds providers including companies, individual major donors, and crowdfunding platforms. You should get creative when considering who in your network would be a good candidate for as a matching funds partner. Common types of companies, individuals, and crowdfunding partners that match funds are outlined below.
Local small to midsize businesses
Looking local is a great first place to start because it’s likely you’ll already have connections with some local businesses.
Pros of partnering with a local business
They’re easier to approach and engage than a company in a different city because you already have a shared community in common.
If your nonprofit serves the local community, a local business will have a built-in reason to care about your cause.
A local business will be doubly excited about publicity possibilities because your audience is people who may patronize their business.
Cons of partnering with a local business
Because they’re smaller than large corporations, they may not have as much money to give, so they may not be able to match huge donation totals.
It might be difficult to find a local business whose mission or values match up with yours because the search radius is small.
When most people think of matching funds donors, they think of the deep pockets of a large corporation. We’ll walk you the pros and cons of this type of matching funds donor.
Pros of partnering with a large corporation
If you win this partnership, they’ll be able to match impressive donation totals which is a great option if you get significant donations on #GivingTuesday.
Large corporations are easy to incentivize if your nonprofit has a large audience. Corporations love good publicity, especially around the holidays.
Cons of partnering with a large corporation
Corporations get a lot of matching funds requests, so it may be hard for your pitch to stand out without an inside connection.
Large corporations are not always transparent about the giving process. Your efforts may be time-consuming and can lead to dead ends like unanswered emails.
If your nonprofit doesn’t have a huge reach or large following, corporations may not see any publicity they’d get as enough.
Your biggest individual donor may be thrilled to take on a matching gifts role this year.
Pros of partnering with a major donor
Matching gifts can strengthen your relationship with your existing major donor, helping them leverage even more support for the work they care about and bringing them closer to “being a part of the action.”
You can work together to create the matching structure and terms that meets your organization’s funding needs.
Cons of partnering with a major donor
You must be confident you can meet the match. If you secure the match but don’t use up the funds, it could embarrass your team and have the effect of weakening the relationship with your major donor.
Your major donor may expect frequent status updates, putting an extra burden on the person managing the relationship. Make sure to agree upon follow up points when finalizing the match so that you and your donor know what to expect.
Matching funds donors aren’t always as familiar with the world of nonprofits and the concept of #GivingTuesday as you are. Make them feel comfortable by providing them with ample context for what you’re asking from them.
Explain what #GivingTuesday is and more importantly, how huge and far-reaching it is.
Make it clear that you’re not asking dozens of businesses to be a matching funds donor. You’ve chosen them specifically because of how well your values line up.
Share the story behind your nonprofit — whether they know it or not. A reminder can help reinspire people who know your organization, and it’s an opportunity to share recent successes or new challenges to overcome.
Outline the incentives
Some companies choose to be a matching funds donor purely because it wants to help the cause. They may not require additional incentives. But some companies may want to know about the built-in benefits that come from being a matching funds donor.
Remind them that all the publicity will drive traffic to their business and boost brand awareness.
Offer to place their logo prominently on all your #GivingTuesday promotional materials.
Remind them that it means their donation will effectively be doubled, depending on how you structure the match.
Get specific with financial details
Your matching funds donor will want to know dollar amounts and where their money will go.
Have a specific plan for the #GivingTuesday money that you can share with your matching funds donor.
Share the results from previous large donations, and how you’ve used the money for the cause in the past.
Make sure you have a rough figure in mind for how many donations you’ll receive. This figure should be both a reasonable ask for your partner, as well as an amount that your fundraising staff is confident they can reach.
Start your search for a #GivingTuesday matching funds donor today
There is one final piece of advice we’d like to give: Start your search for a matching funds partner as soon as you can. Don’t wait until weeks before #GivingTuesday. Lock in your partner early.
Having a matching funds donor secured early on allows both your nonprofit and your donor to get the most benefit out of your partnership. You can start campaigning and getting the word out about your matching funds partner months ahead of time, and drive more donations than ever.
Hopefully, this guide provides you with the inspiration and practical knowledge you need to land your next matching donor for #GivingTuesday. You’re well on your way to doubling your donations!
Thank you for participating in #GivingTuesday
As one of the founding members of #GivingTuesday, GlobalGiving is excited to promote and support the spread of this movement to more countries and is supporting all nonprofits with matching funds this year.
Organizations that are a part of the GlobalGiving community will have access to $500,000 in matching funds that will be used to match more than $1 million raised on #GivingTuesday.
Featured Photo: Support the Education of 38,000 Students in India by Teach for India
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