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Create NSW have partnered with SAMAG to assemble a panel of industry experts who demonstrate best practice to discuss how artists and small-to medium arts organisations can develop new income streams.
Read: How to increase your arts income
Joining that panel was Marie-Louise Carroll, State Manager NSW & ACT for Creative Partnerships Australia. She offered a golden piece of advice when it comes to raising income: ‘If you want money ask for advice; if you want advice then ask for money.’
She continued: ‘Talk to them about what you want to achieve and ask their advice, and then the money follows. No one likes talking about money – remove that aspect and allow them to participate. It’s a mental shift.’
This is also what they had to say.
15 practical tips from the experts
1. Do an asset audit
Sit down and write up a list of all your assets and put a dollar value next to them, advises Janine Collins, Principal at the consulting firm J9. ‘It is only then that you can talk to funders on their terms. We are too used to saying, “I’m just an artist; I don’t expect to get paid”, that we are forgetting our value to the Australian cultural landscape. It’s huge. So you have to quantify and know your work in financial terms.’
2. Cross-examine those who inspire you
Elaine Chia, Chief Executive Officer at City Recital Hall, believes that the old adage “learn by example” rings true when it comes to arts funding.
‘Find some other company you think is successful,’ she offers as an initial tip. ‘For me, we knew we could never be Carriageworks, but we wanted to because they were cool. And then you look at the journey they have been on, the decisions they have made, and the brand they have created – that is where the inspiration lies.’
3. Invest in a philanthropy strategy
Marie-Louise Carroll, State Manager NSW & ACT for Creative Partnerships Australia, reminds us that fundraising is all about relationships, is strategic and takes time. Her tip: ‘I would say that if you are a small organisation and you know you have “would-be” supporters out there, then invest in some kind of philanthropy strategy.’
Creative Partnerships Australia provides professional development workshops for artists and organsiations to get them ready to front a corporate partner or donor, and to know what kind of infrastructure, process and systems are needed, and in place, to manage information about your audience to present to prospective donors.
4. Patrons can be sticky
Carroll said that while corporate support can be fickle, the flipside is that patrons and private giving are loyal and will grow with you. Invest in that relationship and they will stick.
Chia agreed with this sentiment. She noted: ‘The most powerful thing you can realise is that they [patrons] are giving you money because they love your creativity. And patrons are really sticky – they won’t walk away unless they have lost that connection with you.’
5. Cross-marketing is a quick win
Collins said that the area of development is not all about money – it is about raising a profile. She said that a good way to do that is through cross marketing. ‘Partnering with business is a great way to create cross marketing opportunities, which in the long term brings income in. It may not be a cash sponsorship, but it is marketing at no cost – and that is a huge win.’
However, she warned that in any relationship there must be give and take. ‘Make sure you get lots of branding opportunities,’ she said. ‘And it is not just about the business partner’s logo and visibility.’
6. Consider skill swapping
We cannot all be good at everything. One of the best ways you can expand your capacity for diverse income streams is to “fill the gaps”.
Collins said: ‘Try skill swapping. For example; say to a company that if they give you professional advice, you can come in and be an artist-in residence, or do their website.’ It helps to monetize those skills but also it is a gain both ways.
7. Focus on one stream first
Income comes in three streams – business partnerships, philanthropic relationships and commercial revenue. ‘Go after just one of those streams – focus, plan, and do that well,’ advises Collins.
Carroll added: ‘All these different potential streams you can look at, but it really does depend on your work and your audience. There is no one-size-fits-all answer.
‘If a client comes to me and they are a small organisation with no one looking after development, I would suggest they look at a philanthropy strategy first. This is because once you start talking about corporate partners that is going to involve contracts, deliverables and milestones.’
Small organisations are built on relationships and loyalty. Working with that inherent philosophy first is a more natural approach.
8. Say please and thank you, and be kind.
It’s a no-brainer but one that is often forgotten. Sheena Boughen, Strategist and Former Chair, Four Winds in Bermagui (NSW) acknowledges that a thank you goes a long way. Everyone likes to feel valued, and unless you keep that in sight no matter how far you reach and ask and plan those funding relationships will not be sustainable.
9. Use powerful storytelling
When Boughen recognised that Four Winds needed to increase its visibility through its messaging, she turned to author Bryce Courtenay. ‘I rang Bryce because we wanted a storyteller to help us re-frame how we talked about our mission.’
Carrol continued: ‘A good example of very powerful storytelling is the University of Sydney’s Inspired campaign. It is very simple – apart from production values – where a donor faces an academic – they tell their story why gave and then the academic says how they have used that money.’
It is a very clear picture of the conduit of giving and its value.
10. Research resources available to you for free
Cultural Partnerships Australia offer a number of free fact sheets and discussion papers on their website that give clear advice and direction on how to get started in the fundraising sector. ‘Our job is one of mentoring arts organisations and artists,’ said Carroll.
They also provide the opportunity for coaching and mentoring.
11. Getting income without DGR status
For individual artists and smaller arts organisations that don’t have DGR status for taxable donations, Creative Partnerships Australia can manage donations through their collective funding platform, the Australian Culture Fund.
‘It allows you to put your project up on the site with your own dedicated web page, and it effectively allows you to piggy back on our DGR status, explained Carroll. ‘We receive the donation and then we grant it back to you.’
12. How to ward off funding fatigue
The best way to tackle funding fatigue is to fill the gaps, advised Boughen. ‘You need friends – that is part of the answer. A lesson I learnt from my musician parents was to only do what you can be best at and then surround yourself with people who are better than you at those other things to fill the gaps.
‘I only get anxious when I know I haven’t addressed a gap,’ she said. ‘The challenge intimated here is, don’t do everything – apply discipline and then do what you realistically have capacity to do. Too much ambition and not enough capacity and you can get stuck in realm of dreamer.’
Spread the passion and the fire will keep burning.
13. Just ask
People will help your or your organisation because they either love you, and connect with what you do, or wont, so don’t mind a “no”, says Boughen. Coming from a background within the environmental advocacy sector, she said: ‘You had to make a difference to be noticed and you have to get used to that ‘no’.
She further advised: ‘Just ask people you think would be interested in helping … and keep asking.’
14. Matched Funding
Carroll said that of the more successful programs delivered by Creative Partnerships Australia are their Plus1 and MATCH Lab programs. Both are matched funding programs that allow dollar-for-dollar support, both for not-for-profit organisations and individual artists and groups that are not incorporated.
‘Research has shown that matched funding is a good incentive for the private sector support to come on board,’ she said.
15. Don’t limit yourself – think international
When thinking of raising money we often turn to our own circle – those loyal and passionate about our mission / product. But the advice is not to limit yourself.
The US-based web platform Patreon is a fantastic example of how income can be raised using a crowd-funding style approach.
‘Some of my clients in Australia are using it now. It is a way to sell your work online to dedicated supporters. While it is perhaps better suited to work that can be distributed digitally, it is set up so patrons can pay per piece of work, or commit to a monthly patronage,’ Carroll said.
Geography is no longer an issue, and it is a potential pathway to becoming self-sufficient. There are some great success stories.
This article in part is an outcome of the Create NSW & SAMAG panel, Expert Exchange: Expand Your Revenue, presented 16 November in Goulburn NSW.
