Your ideal sponsor partnership is not about “selling” your event to a sponsor. It’s all about delivering value to each major stakeholder; the “holy trinity” is that crucial intersection between your association, your sponsors and your members. When you get it right, all three stakeholders are receiving value from the relationship.
- What’s in it for the sponsor? This is your sponsor value proposition (SVP). It answers how this partnership will help your sponsor to (a) Sell their products and services, and/or (b) Enhance their brand by aligning it with yours?
- What’s in it for your association? How will this partnership (a) Enable you to deliver more value to your members, and/or (b) Increase the visibility of your association?
- What’s in it for your members? How will the association’s relationship with this sponsor help your members to (a) Learn new skills, and/or (b) Find a product or services that will help their organization?
If you can nail each element of the holy trinity, you’ve got a powerful partnership.
When you’re considering your value to sponsors, don’t forget to include both event-specific and year-round opportunities.
Year-round or single event? Think about the best fit for your sponsor. Is the right partnership for this sponsor a year-round relationship where they have visibility with your members at every event and every member communication? Or is it best for them to have relevant visibility at a single event?
And don’t forget; hold onto the crown jewels. Make sure that your year-round sponsors receive a “jewel” above and beyond that available to event sponsors. Perhaps this is a speaking opportunity or unique visibility. Never sell the “jewel in the crown” on a stand-alone basis.
A strong SVP is also one of the 8 elements of the High Performance Membership OrganizationTM