Sponsorship Archives - Ewald Consulting

Associations Next: Get the Word Out

In this episode, we are joined by Lucas McCann, President, and CEO of Big Red M, an association management firm based out of Virginia. We will discuss sponsorship sales in a volatile environment and how you can make the most of your sponsors.

Takeaways:

Sponsors are out there. Despite the disruption to live events, sponsors are ready to come back in person or in a virtual capacity. Many associations have expanded sponsorship options to include more virtual and hybrid events.
Understand the sponsor’s value proposition as well as the members’ needs. Would each party work well for the other? It is important to consider what impacts, good or bad, could come from a sponsorship.
Don’t be afraid to say no. If a sponsorship is not a good fit for your organization, it’s better in the long run to give a prospective sponsor feedback up front.
Communicate well. Ask the sponsor after the event if they found it beneficial and ask your members the same. These questions will help you maintain relationships and potentially develop a fruitful partnership with your sponsor.

October 7, 2020

Creating a Game Plan for Virtual Sponsorship Offerings

Ewald in Practice Sales, Sponsorship, Virtual Events 0

Virtual sponsorship opportunities give your supporting companies the ability to connect with your members and attendees in a completely different way than in person. They can gather more precise data points, improve their follow-up activities, and have prominent logo recognition throughout the event.

The key to successfully monetizing your virtual sponsorships is to avoid heavy discounts for your sponsorships and to increase the benefits. Applying a drastic discount to your virtual sponsorships will give the impression that the overall event is inferior to a normal, in-person event. We recommend keeping your sponsorship prices the same for your virtual event while adding additional value and benefits. After all, your sponsors are crucial to the financial success of your association. Giving them a few extra benefits will go a long way in your sponsorship retention efforts.

Those extra benefits may include playing a video in advance of a sponsored session, introducing a presenter, or rebooting the idea of an exhibit booth. Learn more about these ideas now: Download our new Guide to Record-setting Sponsorship & Advertising Sales Success.