Components of the new sponsorship model

The traditional event sponsorship offerings can still serve as a way for new revenue partners to give you a try. But encourage them to sponsor experiences that members actually value, such as snack breaks, coffee and smoothie carts, charging stations, lounges, discussion tables or areas, relaxation rooms, first-time attendee orientations, hotel keycards, photo booths, and headshots.

Based on what we’re hearing in the association community, an increasing number of associations are branching out beyond traditional brand awareness opportunities to expertise-sharing opportunities, such as sponsored online education and networking programs:

• Webinars
• Conference tracks
• Online cohort programs
• Leadership academies
• Online discussion meetups on hot topics
• Online learning programs, such as training on soft skills, new business practices, and technology skills

Sponsors are serving as education co-designers, hosts, presenters, facilitators, moderators, advisors, coaches, and mentors. Training sponsors for these roles will be worth your investment.

In an article they wrote together, Lori Zoss Kraska, founder and principal of Growth Owl, and Bruce Rosenthal suggest offering CSR-focused education sponsored by corporate partners. They said, “Companies are more eager than ever to learn about sponsorship and strategic partner opportunities from associations centered around [CSR] initiatives in order to assist in communicating the company’s commitment to a sustainable, diverse, and inclusive community.”

Revenue partners could also contribute sponsored content, such as articles, blog posts, research/survey reports, and materials for a curated resource library. Ask them to fund scholarships and memberships for students, young professionals, and other under-represented segments of your market.

Rolling out a new sponsorship revenue model

First, talk with a handful of revenue partners about the pros and cons of your current sponsorship deal. Ask whether they’re achieving their marketing goals with the current model. Share your ideas for a new, but not yet approved, sponsorship package. Talk about how they might achieve their goals with this proposed model.

Then, make a case for the new model to your boss, using what you’ve learned from sponsors to support your arguments for the new model. Highlight the drawbacks of the traditional approach and the benefits of the new approach. Describe what corporate sponsors want versus what they currently receive—backed up by quotes from your interviews or Bruce Rosenthal’s.

When the new model is approved, it’s time for the nitty-gritty. Get a better understanding of the value of different sponsorship offerings so you can determine the appropriate pricing. Ask your peers and their colleagues in the association community for guidance.

Get rid of the gold, silver, and bronze menu on your website. Describe the new approach to sponsorship and the opportunities you can offer. Be clear about the value of each offering for the potential sponsor, association, and members. Include your contact information or a meeting-scheduler tool so prospective partners can take the next step immediately. Share testimonials on the page when you get them.

Strategies for boosting sponsorship revenue

Your relationship with sponsors must change too. You’re no longer a salesperson. You’re an account manager or partner success manager. Understand their marketing goals. Match those goals with opportunities, for example, sharing expertise, connecting with a target audience, or establishing a particular reputation or brand association in your members’ eyes.

Together, identify success metrics for your association and for the sponsor. Come up with a plan and timeline for analyzing and achieving these metrics.

Don’t assume your sponsors are education or marketing experts, even if “marketing” is in their title. Help them improve their offerings and tactics. Check in with them quarterly or semiannually, depending on staff resources, to gather feedback.

re:Members as a revenue accelerant

When nurturing sponsorship leads, selling sponsorship opportunities, and strengthening sponsor relationships, you need the support of a strong back office. An all-around assistant can help you collect and analyze data, track your progress, measure your success, and personalize your interactions with sponsors.

Where do you find this kind of assistance? Look no further than your re:Members association management system, which can help you with:

• Sponsor surveys, marketing personalization and automation, campaign management and analytics, and email delivery
• Sponsorship sales management and analytics
• Sponsor, member, and attendee engagement reports, dashboards, data visualization and analytics, and business intelligence with Microsoft Power BI
• Accounting and financial management, including invoicing, cash receipts, credits, and inventory management

Request a demo to explore the solutions offered by re:Members AMS that can strengthen your sponsor partnerships and revenue.