Associations Trends Talk Takeaways: Build Winning Association Sponsorship Programs
Blake Finger, Betsy Pierre and Bruce Rosenthal — experts in association sponsorship and sales — held a lively discussion of trends and top tips for building successful sponsorship programs. Seven of the key takeaways from the conversation include:
Why Non-Dues Revenue Is Important (and Challenging)
- Vendor Value: It’s important for associations to provide ways for vendors to reach their target markets.
- Understanding Market Reach: Associations may not always fully grasp the value of the audience they can offer.
- Need for More Revenue: Associations require additional sources of revenue, while members demand more content.
- Post-COVID Shift: Sponsors are now looking for measurable results, making it harder to secure support if the value isn’t clearly demonstrated.
The Role of Associations in Vendor Relations
- Multiple Roles: Associations must manage relationships with clients, boards, and committees.
- Effective Outreach: Ongoing follow-up is necessary to build commitment.
- Experience Matters: Associations need to know how to ask the right questions and deliver a good experience to sponsors.
- Follow Through: Ensure that promises made to sponsors are followed up on.
Building Long-Term Relationships with Sponsors
- Understanding Sponsor Goals: Associations need to understand a sponsor’s business objectives to create a mutually beneficial relationship.
- Key Question: “How does your company measure success?” is a valuable question to ask potential sponsors.
- Going Beyond the Ask: Ask about sponsors’ goals in detail; there might be additional ways you can help, beyond what they initially requested. Or if you’re unable to fulfill a request, there may be a more helpful alternative.
- A la Carte Options: Smaller companies may prefer more flexible, cost-effective options rather than committing to large sponsorship packages.
What Companies Want from Associations
- Business Development: Companies are looking for opportunities to grow.
- Brand Differentiation: They want to stand out in the market.
- Thought Leadership: Companies want to be seen as leaders in their industry.
Involving the Board and Other Stakeholders
- Get the Board on Board: It’s essential to engage the Board of Directors and have open conversations. Committee leaders (especially related to conference planning) can also be very useful in developing sponsor programs and/or identifying potential sponsors.
- Vendor Engagement: Associations should not only focus on serving their members but also pay attention to vendor needs, because it ultimately benefits members.
- Involve Vendors: A Partner Advisory Council (or similar group) is a great way to hear directly about vendor concerns. While some associations use a standing committee, others are successful with focus groups or task forces.
Innovative Sponsorship Ideas
- Engagement Offerings: Encourage sponsors to think differently about how to engage attendees. Examples: Puppy stations, barista stations that encourage people to post selfies from the event.
- Political Climate Opportunities: Associations should be aware of the current political and economic climate and how it can impact their vendors and members. Start the conversation on how to approach these issues.
- Task Force Creation: Create a task force with committee members and corporate partners to address hot issues like the impact of tariffs.
Implementation Steps for Associations
- Understand Your Association’s Strengths: Assess what your association is already doing well and why.
- Evaluate Competitors: Look at what other associations in your space are doing and how they’re compelling vendors.
- Be Realistic with Timeline: Assess your timeline and target companies. Are they too big for your association? Does it make sense for them to attend your conference?
- Flexibility in Planning: Be open to changing your plans based on the political or economic climate. Consider the structure of your conference — does it need to be condensed or expanded? Adapt as needed.
Watch the video of this webinar for all the details and ideas.
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