Sponsored research is a mutually beneficial collaboration between organizations and research institutions that offers numerous advantages. In this blog, we delve into the benefits such as new revenue streams, leveraging research for member retention and recruitment, and gaining media attention. We also discuss various ways to maximize the impact of sponsored research through thought leadership, webinars, podcasts, press releases, and more.
Benefits of Sponsored Research
Sponsored research provides organizations with an opportunity to generate new and additional revenue streams through various means, including:
Intellectual Property (IP) Commercialization: Research outcomes can lead to patentable inventions, new technologies, or innovative processes that can be commercialized through licensing agreements, spin-off companies, or joint ventures.
Consulting Services: Organizations can leverage their research expertise to offer consulting services to other businesses, government agencies, or non-profit organizations, creating a new source of income.
Collaborative Projects: By engaging in sponsored research, organizations may attract funding from government grants, foundations, or private sponsors, thereby securing financial resources to support their ongoing operations.
The following are a couple of prime examples of research that can be monetized, showcasing the potential opportunities available:
Biomedical Research: Pharmaceutical companies can sponsor research studies focused on drug development, clinical trials, or understanding disease mechanisms. The resulting discoveries can lead to patented drugs, therapeutic interventions, or medical devices that generate substantial revenue.
Market Research: Companies can fund market research studies to gain insights into consumer preferences, trends, and buying behaviors. The data collected can be packaged into reports, analytics services, or consulting offerings, creating revenue opportunities.
Sustainable Technology Research: Organizations involved in sustainability can conduct research on renewable energy sources, eco-friendly materials, or waste management solutions. The research outcomes can be monetized through licensing agreements, selling sustainable products, or offering consulting services to companies seeking to adopt environmentally friendly practices.
Member Retention and Recruitment
Sponsored research enhances the value proposition for members of an organization or association. It demonstrates a commitment to advancing knowledge, staying at the forefront of industry trends, and solving relevant challenges. This, in turn, helps to retain existing members and attract new ones who seek to benefit from the research insights and expertise.
Media Attention and Reputation Enhancement
Sponsored research can also provide organizations with an opportunity to enhance their reputation and gain media attention. This heightened visibility can result in several benefits, including:
Thought Leadership: Organizations can position themselves as thought leaders within their industry or field by conducting and promoting research that addresses critical issues or offers innovative solutions. This thought leadership can attract attention from the media, industry peers, and potential collaborators.
Webinars and Podcasts: Hosting webinars and podcasts to share research findings and insights can establish an organization as a trusted source of knowledge. This platform enables direct engagement with a broader audience, including industry professionals, researchers, and potential partners.
Press Releases and Media Coverage: Organizations can issue press releases highlighting significant research outcomes, partnerships, or the launch of commercial products or services derived from the research. Such press releases can attract media coverage, generating further attention and establishing the organization as an authority in the field.
Maximizing the Impact of Sponsored Research through Media Attention
Webinars and Podcasts: Host webinars or create podcast episodes where experts discuss the research, its impact, and practical applications. Invite industry leaders, researchers, or stakeholders as guest speakers to enhance credibility and broaden the reach.
Press Releases and Media Engagement: Draft compelling press releases to announce significant research outcomes, partnerships, or commercialization efforts. Actively engage with journalists and media outlets to secure media coverage and feature stories.
Thought Leadership Articles: Publish articles in reputable industry publications or on the organization’s blog, showcasing the research findings, their implications, and potential applications. Establish the organization as a trusted voice in the field.
Social Media Campaigns: Leverage social media platforms to share research highlights, infographics, and key findings. Encourage discussions, engage with the audience, and use relevant hashtags to increase visibility.
Conference Presentations: Present research findings at industry conferences, trade shows, or academic symposiums. Participate in panel discussions or organize workshops to engage with a wider audience and attract potential collaborators or sponsors.
Sponsored research offers organizations a range of benefits, including new revenue streams, member retention and recruitment, and increased media attention. By strategically leveraging media channels, and adopting thought leadership initiatives, organizations can maximize the impact of their sponsored research, establishing themselves as industry leaders, and unlocking new opportunities for growth and success. For a free consultation session on sponsored research for your association, contact us or download our brochure for insight into the importance, approach, and value sponsored research can provide.