Attracting and maintaining sponsors is crucial for the financial sustainability of any association, but it’s no easy task. Not only do association leaders need to identify potential sponsors, but they must also ensure that the sponsorship packages offered are flexible enough to fit a range of budgets—whether it’s a budget for a small local business or a large corporation. Creating these packages to appeal to sponsors at different levels can be tough, but the key is to create tiered options that provide value to sponsors.
In this article, I will outline some strategies for developing sponsorship packages that meet the needs of sponsors, while showing value to both the sponsors and your association members
1.Understand Sponsor Goals and Budgets
Sponsors come with different needs, wants and budgets, so it’s important to understand their goals and objectives before creating the sponsor packages. Sponsors may be looking for brand visibility, or the chance to support an event or cause. To create effective packages, consider the following:
- Identify Sponsor Objectives: Are they focused on visibility, gaining access to your members, or contributing to a community initiative?
- Assess Budgets: Offer tiered sponsorships—small, medium, and large—that allow sponsors to select the level that best aligns with their budget.
2.Create Tiered Sponsorship Packages
Creating tiered sponsorship packages offers several advantages for both the association and its potential sponsors. Here are some key reasons why you would want to adopt a tiered approach. Not all sponsors have the same marketing budget or goals. Tiered packages allow you to attract sponsors from different financial demographics, including:
- Small companies (limited budget): These companies may be looking for cost-effective opportunities to raise brand awareness.
- Mid-size companies (moderate budget): These companies may want to increase their visibility and connect with a larger audience using their moderately sized budget.
- Large corporations (large budget): These companies are typically interested in premium exposure and high-level engagement opportunities.
3.Highlight the Value to Sponsors
Sponsorship goes beyond financial support—it’s about providing tangible benefits and opportunities for sponsors to grow their brand and engage with their target audience. Here’s how to emphasize the value for sponsors:
- Brand Exposure: Sponsors can gain visibility through branded education sessions, workshops, or networking events, allowing them to connect directly with attendees and elevate their brand presence.
- Engagement Opportunities: Sponsors can host webinars, product demos, or content sessions, offering them the chance to engage with a relevant audience to showcase expertise or products.
4. Make Sponsorship Packages Easy to Understand
Once an association leader has created a package, make it easy for sponsors to review and select tiers, by utilizing these methods:
- Sponsorship Package Visual Document: Provide a clear and visually appealing document outlining levels and benefits.
- Clear Communication: Ensure the benefits to sponsors are clearly outlined, including key metrics.
- Online Portal: If possible, create an online portal for easy browsing, and payment processing.
5.Sponsorship should go beyond a one-time transaction
Building long-term relationships with sponsors can lead to renewals, deeper partnerships, and continued support for your association. One way to create these partnerships is by offering select sponsors a “First Right of Refusal” for consecutive years, allowing the opportunity to renew sponsorship before it’s offered to others. Here’s how to do it:
- Regular Communication: Keep sponsors updated on association successes, upcoming events, and member feedback.
- Public Recognition: Recognize sponsors at events, in newsletters, and on websites, ensuring their contributions are celebrated.
- First Right of Refusal: Offer certain sponsors the option to renew their sponsorship for the following year before it becomes available to others, securing their commitment.
Ultimately, creating sponsorship packages that cater to a variety of budgets while providing value is essential for both attracting and retaining sponsors. The goal is to create an environment where sponsors feel valued, and members gain valuable benefits in exchange for their membership.
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