How To Update An Associations Approach To Sponsorships
Posted on November 8, 2022 by Membership Space
Sponsorships are a significant part of an association’s marketing and fundraising strategy. After using membership management software for a number of years, you realize there are benefits to a sponsorship but many associations struggle with getting their message out to potential sponsors. Whether you are board member scrambling for new ideas or a marketing manager looking to improve your standard approach, these tips will help you maximize your association’s ability to get sponsorships in the future.
Break Down Organizational Barriers
Most associations are not designed around managing sponsorships, and many lack a strong sponsorship function. So when a sponsor comes along with the right proposition, the traditional structures of association management may create “roadblocks” to better results.
One recommendation is that associations adopt a strategic partnership model to engage sponsors, which could include an enhanced collaboration between staff, management, and their external community partners. This would allow for a better understanding of the actual needs of each partner or customer and provide opportunities for scope expansion specifically to capitalize on unique segments or markets.
Support The Development Of Sponsorship Targets
For many associations, sponsors are the only way for them to generate new revenue. But a sponsorship strategy will only be successful if the organization clearly understands its sponsors and what they expect from such partners.
Associations should use membership management software to develop sponsorship target profiles, including an understanding of market segments that help identify target candidates and research their expectations to confirm they align. Ultimately, associations must leverage these insights to identify partnerships that help achieve sustainable results.
Develop A More Competitive Proposition
Associations don’t usually make more money from sponsorships as they are not yet all that appealing to sponsors. The main reason for this is that the opportunities on creating value for all parties involved are not considered in the sponsorship proposal. To improve such a situation, associations must think about changing their approach.
This includes some strategies to identify and deliver on the opportunities for generating new revenue, especially in target markets that are not yet covered. For most people, the thought of brand and sponsorship marketing is a complete mystery as their sponsor strategy is still a case of trial and error. They have been trying different tactics to attract more sponsors for years and are still in search of that winning combination.