By Bob Harris, CAE
Associations have postponed or cancelled many events during these challenging times.
The lost sponsorships represent significant income as a percentage of events and the overall budget.
Take steps to save the sponsor relationships and revenue.
Sponsor Opportunity Menu
A sponsorship menu is an inventory of all potential opportunities. Avoid “nickel and diming” companies for money throughout the year. Encourage a company to include sponsorship in their annual budget.
The menu is created by staff, usually during the summer, so companies can consider their relationship with the association for the year ahead. An excellent model is available at https://www.okrestaurants.com/partnership_opportunities.php.
Because of the cancellations and postponements, the menu should be updated now for 2020, and promote 2021 opportunities.
Be sensitive to the changing needs of sponsors. For example, they may no longer have funds for attendance at a conference but would appreciate increased exposure through website banners and digital newsletter advertisements.
# # #
Note: Bob Harris, CAE, provides free governance tips and templates at www.nonprofitcenter.com.