Sponsorship sales is the hottest growth opportunity for associations today, and organizations continue to miss the boat. Let me explain why and what your next steps should be to revamp your program.
#1 First and foremost, sponsors aren’t being interviewed about the program – or, had the opportunity to provide their ideas about new ideas or inventory. My best new sponsorship ever was obtained just by asking.
#2 The offerings are frankly…lazy. If your inventory consists of food and beverage events and branding of the conference bag, I can guarantee your sponsors are bored. And, the new sponsors’ everyone wants will be less interested in aligning themselves with your event.
#3 The sales process is mired in the meetings and convention operation, which is overworked and underprepared for the sales effort required.
Next steps for you:
#1 Make it a point to interview the sponsors – they are more than happy to share their ideas with you.
#2 Develop a sponsor advisory council for ongoing feedback.
#3 Thought leadership opportunities must be offered to your sponsors. Starting with research, then articles, then whitepapers and presentations. As a resource, check out a Moery white paper detailing how associations can help sponsors become thought leaders – a win-win for both sponsors and your organization.
#4 Put in place a rigorous sales process with your team – 40 days and 7 contacts to close a sponsorship sale. Ensure you have the bandwidth for this type of performance.
I have an additional resource to consider as you revamp your sponsorship sales operation: The Ultimate Guide to Sponsorship Growth.
If you’d like to talk this through in more detail, feel free to schedule a 30-minute complimentary call – I’d be pleased to chat.