Here’s a cold, hard truth: companies no longer need associations to reach members. Now they can create and share their own content via blogs and e-newsletters, cultivate an audience via social media and other channels, and present educational information outside of association meetings.
Collaborating with for-profit companies is essential for associations’ success. Here’s why:
- Potential sponsors are providing educational content for association members. Companies are finding ways to reach members via social media, customer/prospective customer lists, etc. It’s better for associations to embrace (and monetize!) these companies as sponsors and co-brand and/or co-distribute the content rather than competing with them.
- Most associations don’t have the time, money or expertise to meet all member needs. Companies — as sponsors — can fill the gaps. This is a “win” for members, sponsor companies and associations.
- A good sponsorship program provides discretionary revenue that associations can use to fund programs for unmet member needs.
How associations collaborate with companies needs to change, however. Some sponsorship models are tired and don’t offer a necessary return on investment for companies or value for association members. Platinum/Gold/Silver/Bronze sponsorships at conferences often do not meet the needs of companies that are seeking year-long business and marketing solutions.
Bruce Rosenthal, who helps associations create successful corporate partnership programs, and I recently had an exchange about the changing sponsor landscape. Here’s how he recommends refreshing your sponsorship program:
- Identify the six or eight information needs of your association’s members.
- Find companies that have expertise to fulfill these member needs.
- Contact each company and have a conversation about your members’ needs, the company’s expertise, and the company’s business objectives and market goals.
- Develop a customized proposal for each company that leverages the association’s communications channels and audiences in a way that fulfills members’ needs and fulfills the company’s business and marketing needs.
- Discuss and negotiate the proposal with each company.
Once you have a sponsorship in place, don’t take it for granted. All healthy relationships require time, communication and recalibration when necessary. Sponsorship relationships are the same. In fact, the sales and nurturing function is so important to associations that I’m seeing a trend toward sales training and/or hiring experienced sales staff. It’s something to consider if you don’t have sales expertise currently on staff.
Speaking of sales, Professionals for Association Revenue (PAR) is holding the RevUP 2022 Summit in Annapolis, Maryland, December 7-8. You can learn more here. PAR provides association teams with the education, ideas and network needed to grow revenue and this inaugural meeting looks like a great way to boost the sales function within your organization — and have a little fun while doing so!