Looking for innovative ways to attract new sponsors? Trust me – there is a goldmine of untapped opportunities out there. Here’s how to offer what sponsors are looking for.
An IEG report links sponsorship income growth to better value propositions for the sponsor’s investment. Sponsors themselves have shown new interest in seeking strategic advice from association insiders, to help engage more corporate members and individuals with their brand.
Two Options for Increasing Sponsorship Revenue
If you want to increase sponsorship revenue, you have two options: increase the commitment from current sponsors, or get more new sponsors. More than two-thirds of associations plan to develop new sponsorship categories. So prepare your A-game, the competition for new sponsors is heating up.
Before you even approach a potential sponsor, do your homework. What can you offer in terms of traffic, participation, and engagement? Consider the channels and media your association already creates. Be sure to consider more than the traditional event play. Anyone can deliver that type of opportunity. Present new opportunities that showcase your sponsor’s value in the marketplace:
- Being a thought leader at your events.
- Conduct special webinars or in person seminars.
- E-Newsletters with their guest article.
- Distribute whitepapers with their expertise.
- Social media marketing.
You’ve got to know your assets and your prospects well enough to explore what blend of promotion, recognition, co-branding of materials, and access to people would appeal to their interests.
Look for the Benefits of a Relationship
Sponsors are looking for more than a one-off opportunity. An on-going conversation with your market is more valuable than a coffee break sign with a logo!
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