Joe Waters is Director of Cause & Event Marketing at Boston Medical Center. He`s developed and executed mobile programs with many New England and national companies, including iParty, Staples, Shaw`s Supermarkets, Finagle A Bagel and Pepsi. A well known writer and speaker on cause marketing, he blogs on the topic at Selfishgiving.com .
“A pound of self-interest and a teaspoon of idealism.”
Me: What are some effective ways to lead a potential donor to a point of committing funds and becoming a corporate sponsor?
Joe: A big part in closing the sale for me understanding what’s driving the company’s interest. I work in cause marketing, so companies are drawn to the marketing benefits of our programs, which are different from traditional marketing programs. Another key area is the “free is for me” factor. All of our cause marketing programs are free to the company because expenses – which are usually pretty nominal – are paid for right out of the monies raised from the campaign. In short, I can close a sale because I have unique value proposition and a price that can’t be beat.
Me: Get me an example.
“They begin to drink the cool-aid and start telling me that my nonprofit is a great organization.”
Joe: We recruited a fast-lube company several years ago for a point-of-sale program. They had a modest six-figure advertising budget that they were looking to augment with free additional media, like PR. Our was different from the other forms of media they were buying – with no cost to their company! Also, a similar program was being very successfully executed by a competing fast lube service. The partnership was win-win: We raised tens of thousands of dollars for our cause, and they increased sales for their company.
Me: What are some key indicators that you look for that say “I’m ready to donate!”
Joe: Key indicators for me include having the right people in room beyond the marketing team, because they are not the ones usually making the decisions. A strong interest in the cause and mission of my organization is also an indicator. They begin to drink the cool-aid and start telling me that my nonprofit is a great organization!
Me: Typically, what’s the mix between your cause and their corporate interests?
Joe: Regardless of the partner, the conversation shares the same mixture of ingredients: a pound of self-interest and a teaspoon of idealism.
Me: Joe thanks so much for your time.
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