The Fix

15 Common Mistakes assoCiations Make selling sponsorships

#1 One way thinking.

Sponsorships are more than non-dues revenue for your organization. They should be mutually beneficial. Aim to give your sponsors a measurable increase in recognition within your membership base.

#2 Waiting too long.

The majority of your sponsorship dollars should come from renewals. Use momentum from your current event to start lining up next year’s sponsors as soon as you can in advance. Get in their budget!

The Fix

#3 Offering generic packages.

Using gold, silver and bronze levels isn’t exactly memorable. Try to be creative with sponsorship names. Tie them in to the sponsors’ businesses. For example, use “Drain-a-Hole-in-One” for a plumber sponsoring in a golf outing fundraiser.

#4 Not giving exclusivity to big dollar sponsors.

The Fix

Higher dollar sponsors should be given exclusive rights within their industry, product or service category. Make it worth their time and money, and make a big deal of these sponsors before, during and after the event.

The Fix

#5 The more, the merrier — logo soup, anyone?

Smaller events should have fewer sponsors. It’s important that sponsors feel special. If you put everyone’s logo on your event materials, then no one stands out.

#6 Making cash king.

The Fix

Don’t limit yourself to cash donations for your events. Take advantage of in-kind donations. Keep in mind there is no need to put a sponsor’s logo on everything. Simply give them time or a shout-out at the podium.

The Fix

#7 Not properly accounting for in-kind donations.

When it comes to in-kind donations, proper accounting is key for both you and for your sponsor. These types of donations can be tax deductible for sponsors, so make sure to consult your tax advisor or irs.gov as each situation is unique.

#8 Seeking only sponsors with the deepest pockets.

The Fix

Selling a high dollar sponsorship for an event that doesn’t give the sponsor enough exposure is unwise. Be sure to do your research and qualify potential sponsors, making sure each is a good fit.

The Fix

#9 Thinking fundraising = sponsorships.

Members don’t generally sponsor your event out of the goodness of their hearts. They want something in return. Fundraising contributors don’t expect a tangible return for their money, but sponsors need some sort of return on investment.

#10

The Fix

Providing discounts for sponsorships.

The FixTo maximize revenue, it’s not advisable to discount sponsorships. Instead, give sponsors the option to bundle their sponsorship and marketing dollars over multiple events.

#11 Relying too heavily on spellcheck.

Create a professional sponsorship proposal. Be creative, customize it and above all, have someone proofread it. Nothing says unprofessional like spelling and grammatical errors.

#12 Not understanding sponsorship value.

The Fix

To prevent selling sponsorships that aren’t worth your time, start by calculating the costs of selling, servicing and delivering the sponsorship, multiply that number by two or three, and then consider what the market will bear.

The Fix

#13 Thinking attendees want to interact with sponsors.

Ask sponsors how they plan to engage, communicate and work with attendees and help them understand what’s important to your members.

#14 Underestimating the power of social metrics.

The Fix

Social media statistics can help to demonstrate attendee engagement. Give sponsors a snapshot of likes, mentions, comments, tweets and retweets. Include charts and graphs for visual appeal.

The Fix

#15 Discounting the importance of sponsor satisfaction.

Make your sponsors feel great about their sponsorship. Understand what their goals were and create a “fulfillment report” that shows them how their sponsorship performed against those goals. Make sure to include everywhere you promoted the sponsor, performance statistics of radio and print ads and social media performance metrics and comments.

The Fix

Referrals like these are why we continue to grow and always seek to improve...“WebLink Connect™ is able to accommodate the needs of the customer and the particular industry; it’s not a ‘cookie-cutter’ program.” – Nori Goodhue, Membership Director, The Property Management Association of West Michigan

www.weblinkinternational.com

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