You might have found yourself watching your association’s piggy bank dwindle over the last few months or at the very least, stop growing. Although revenue might be sparse right now, do not give up! If the most recent recession taught us anything, it was to think differently and act quickly. You are not too late to grow your association’s non-dues revenue.
Some trends you may have noticed throughout the pandemic include revenue shortages, growing and unique demands, sponsors and other businesses seeking ROI, and a growing dependence on the internet. These trends are all opportunities for your association!
Review and Update. As the economy continues in a downward trend, companies and sponsors need you as much as you need them. Take this time to work on your media kit or sponsorship opportunities. Do your options still align with our new way of living? Do you have enough virtual options? Tweak your materials and actively seek sponsors for webinars, your website, virtual conferences, etc.
Customize your proposal to sponsors. Although it is important to have a general media kit, it also never hurts to customize that proposal to your potential sponsor’s needs. Have conversations about what they are looking for out of sponsoring through your organization and create ways to give them what they need.
Create longer partnerships. When updating your sponsorship opportunities, create options that allow for sponsors to sign up for yearlong plans. This will help you to have a steady flow of revenue for the year and could create a longer-term partnership.
Sponsors are your best bet for growing revenue this year because they share the same need to bring in more money as you! Taking the time to revamp your opportunities and kits will aid in increasing non-dues revenue while allowing you to continue providing benefits and retaining current members.