HOW TO GET CORPORATE SUPPORT
Or
How to Sell Your Programs for Money

by John Wright

First let me introduce myself. You don’t know me, so why should you listen to my ideas on how to raise money? I have been in your shoes, as an active member, staff officer, and then Student Branch chair at a school in California. This specific Student Branch had sponsored the EE Department banquet for 38 years, consistently losing one to two thousand dollars every year. With a very active group of officers, we were able to turn things around, more than double the membership, and increase activities; and we made almost $2,500 on the banquet instead of losing that much. My ideas are not perfect and are not the only way, but they are one proven, effective way to raise money for your club.

First, you will need something to sell. You are selling your program in general and a specific activity to corporate sponsors. You need to identify recent successes that emphasize how important your Student Branch is and why it deserves support. These same people get hundreds of requests every year. You do not need to make your club sound like it can walk on water, but you cannot just call up corporate representatives and ask them to send you money without some sort of affiliation. You need to make an opening statement letting them know you are for real.

You also need to identify a specific need. Few corporations will send you money just because you are a student club. Most companies that are willing to sponsor student activities will support a request for banquets, S-PACs, technical conferences, travel to IEEE Regional meetings and trade shows, etc. Make sure you include a date and location for your event. If you give them a specific need, they will respond with a specific answer. Sometimes that might even include a check, your end goal.

Once you have identified the program for which you want help, identify the specific need to which you want donors to contribute. If you have a history of donations with a specific company, ask for that same value of donation again. If you do not have that relationship, or if you have other plans in mind, list the specific options you wish to offer. You can ask for different levels of support, different kinds of support, or whatever creative financing options you wish to offer. Remember, the more options you offer and the more complicated they are, the lower your chances are for hitting the more expensive targets. Your best bet is to ask for what you really need, then ask for additional support as an option. Most companies will only give the smallest amount necessary to get involved.

You should conclude with a short thank you, assuming they will answer positively and contribute to your event. Include a deadline for responses. There should be a minimum of 30 days for them to find the money you are asking for, with a deadline for commitment no later than 15 days prior to the event.

Close with your name and your title. The people to whom you are writing are professionals, with legitimate titles, which you will be using. Make sure you identify yourself as the appropriate contact for them at your Student Branch.

Whom should you contact? Hopefully, your Student Branch already has a list of corporate sponsors to tap for major funding. If not, or if you wish to expand your list, start at your college’s Placement Office. Find out what companies recruit the members of your club. Next, identify all the companies within a six-hour drive of your school that employ people with the majors represented by your Student Branch. If that isn’t enough, include all the employers in the main area of choice for your students. Don’t forget to ask your Branch Counselor, Department Chair, Dean, local IEEE Section officers, and other faculty and professionals with whom your Student Branch is acquainted. (Network!) If your parents are involved in the same industry, ask for their list, too. Your list should include the specific human resource manager, the HR recruiter for your school, and any engineering managers who are supportive of your program.

Your mailing is only going to get a ten percent favorable response. Figure out how much money you need and how much you think you can get from each company, then multiply the break-even number of companies by ten. You will need that many corporate contacts. We had 150 contacts and only 17 good responses. That was up from only three the previous year.

Next is timing. When should you mail those letters out to companies? Regardless of whom you listen to, everyone will agree that there is a diminishing return of favorable responses as you get closer to your event. Some companies require 365 days minimum notice to contribute to student events. Most companies require a minimum of 180 days. Some companies will respond with 90 days notice, but nobody will give you money for an event next week. The more notice you give companies, the better your chances are of getting major funding for your event. I would suggest a minimum of six months notice to the companies if you are asking them to sponsor your event. If you can give more notice than that, by all means make sure you do.

How much can you ask for? You are in competition with the other clubs at your school for corporate money. If you are having a banquet, find out how much other clubs request to sponsor a table. We found a range of $300 to $500 per table at our school. If you are holding an S-PAC, find out what other clubs ask for in support of their conferences and activities. Another way to charge is to break out your activity by specific costs. Food, meeting halls, publicity, and travel expenses are easily itemized, and companies are willing to pay for all or part of a specific request. Again, most companies are willing to pay for food at a student event. Fewer are willing to pay for student travel, mailings, or publicity expenses, but some are.

The last important thing to remember is to use your word processor / desk-top publisher. "You never had a second chance to make a first impression." If your letter has typographical errors and misspellings, or if it is poorly laid out, you will lose companies that would normally contribute to your event. You also need to verify names and titles prior to mailing out your requests. Get your message on one or two pieces of paper, absolutely no more than two.

In conclusion, you want to follow this format:

1. Introduction – toot your Student Branch’s own horn.
2. Identify the specific function for which you re requesting support.
3. Make a specific request for funds.
4. Express your appreciation for the anticipated support. Include a deadline for an answer.

Mail early, to the actual decision-makers who will authorize the funding. Act professional, look professional, and expect professional responses.