Sponsorship is the lifeblood of every non-profit association. Then how come does it seem that it is often fighting for breath?
Just one conference or meeting without a fruitful sponsor roster can drive an association’s bottom line to a loss. In times where time and resources are stretched , it becomes harder for associations to create additional revenue streams and increase sponsorship income. The opportunities, however, are there.
Several key happenings have led to shifts in sponsorship trends. Technology takes center stage.
Connectivity, artificial intelligence, and live-streaming technologies emphasise that the traditional sponsorship model is gradually replaced by more personalised and exclusive value propositions.
At the same time, content is not any longer solely consumed. It is created, curated and shared with on- and offline communities.
Taking these unavoidable changes into account, what can associations do to breathe new life into sponsorship opportunities? Here’s what sponsors and exhibitors are after.
It is easier to retain an existing customer, than try to acquire a new one. Same goes with sponsors. Although sponsor acquisition is a key strategic move to generate greater income, sponsor retention should be a priority.
Exclusivity makes sponsors feel noticed and appreciated. One way towards this direction is offering exclusive sponsorship opportunities before making them available to the general membership at large.
Investing in a cause
Cause sponsorships are a booming topic. Partnerships that have a cause at their core might not represent a major part of the sponsorship field, but they are certainly growing.
In fact, research shows that North American spending on cause sponsorships is anticipated to reach $2.06 billion by the end of 2018, which accounts for approximately 9% of all sponsorship spending.
While the numbers seem still low, cause sponsorships pose a great opportunity. With corporate social responsibility becoming an essential part of raising brand awareness and engagement activation, companies are increasingly seeking practices to stand out.
Moreover, budgets that are traditionally allocated to charity or donations are now becoming more aligned with marketing communications to yield a greater return on investment.
The reason behind is that consumers do expect companies to contribute to a greater cause.
Interested in discovering what more you can do with sponsorship opportunities? Visit our website to see what we can do for you and contact Meighan Jury, Senior Manager for Global Strategic Partnerships, at Meighan.Jury@mci-group.com.