treasure hunting: smart strategies for growing ad, sponsorship and other non-dues revenue
TRANSCRIPT
TREASURE HUNTING: Smart Strategies for Growing Ad, Sponsorship and Other Non-Dues
Revenue
Agenda
• Current Environment
• Structuring Partner Programs
• 10 Tips
• Case Study
Who are Your Competitors?• Amusement Parks• Aquariums• Associations
(local/regional HBAs and other)
• Causes - charitable• Chambers of Commerce• Colleges/Universities• Convention and Visitors
Bureaus• Fairs• Festivals• Hospitals
• Hotels• Museums• Parks• Performing Arts Centers• Political
Causes/Campaigns• Religious Organizations• Schools - Local• Sports - Teams,
Stadiums, Athletes – Professional
• Sports Teams – Local• Transportation –
Airports/Trains• Zoos
Others ?
Typical Offerings
• Conference sponsorships• Gala dinner; other fundraising event• Advertising • Event or program sponsorships • List rental• Other
Standard View…
• One-off sales: Offer bags, badges, pens….• Propose value add or additional clutter?• Likely impact on the
organization/audience?
Exercise: Recent Conference Experience
Think about the last conference that you attended (not yours)…
• Who sponsored what?
Traditional Approach
• ‘Inventory’• Transactional• Decentralized outreach • Regular funding requests• Internal competition
Outreach…
• Prospectus
• 80 / 20 Rule
…and Reaction
• Limited potential
• My objectives?
• Gold, Silver, Bronze…
• Build long-lasting relationships• Show added value and stand apart• Tap into emerging industries / trends
Opportunities?
What Associations Want
• Increase membership / audience
• Develop new programs / increase participation
• Grow revenue
Why Companies Invest
• Generate new leads / clients• Expand awareness – visibility / branding• Provide thought leadership • Improve retention or recruitment • Increase brand loyalty• Change / reinforce image• Show community responsibility• Support association/industry
Sponsors’ Desire
• Effective linkages; not inventory• Credibility / authenticity • Year-round relationships• Customized arrangements
A Challenging Environment
• Marketing budgets cut• Value add is critical • Established structure and plans• Identify impact on industry sectors
Getting Started: Develop your Program
Identify assets
• Membership • Communication channels• Programs• Events• Content areas• Others
Obtain Sponsor Input
Solicit feedback • Specific benefits• Other ways to engage• Activation ideas• Suggestions for improvement
Internal Assessment
• Clarify what is available for ‘sale’• Ensure alignment with mission and
culture• Determine parameters of involvement• Coordinate within your organization• Garner leadership/board support
Understand “Organizational Tension”
Turn Assets into Benefits
• Determine assets/areas of interest• Understand benefits from the sponsors
perspective• Consider other potential benefits
Alignment of Interests
OrganizationalCulture
Member Interests
Sponsor Goals
Establish Packages
• Bundle benefits strategically• Tier packages to incent companies to
‘buy-up’• Price packages based on value • Establish other limited offerings at
lower dollar levels
Action!
• Develop a go-to market strategy • Seek mutually beneficial partnerships• Centralize and coordinate• Align interests• Seek strategic relationships vs.
transaction-based offerings
10 Tips for a Successful Sales Program
1. Know your product(s) and audience
2. Know your prospects—develop partners, not purchasers
3. Create a strong media/sales kit
4. Think creatively
5. Look for low cost/high value opps
10 Tips for a Successful Sales Program
6. Create urgency in your marketing
7. Hit the low hanging fruit first and often—PRIORITIZE!
8. Market aggressively but respectfully—develop partners, not purchasers
9. Make saying yes easy
10. Trust your salespeople
NAFSA: A Case Study from an Ad Sales Perspective
• About NAFSA:
– Individual Member Association with approximately 10,000 members
– Members are international educators
• Sales opportunities:
– Advertising in print and electronic publication
– Sponsorship of Annual Conference
– Exhibit at Annual Conference
• Global Partnership
NAFSA: A Case Study from an Ad Sales Perspective
• Challenges:
– Sales efforts were very siloed
– Little to no bundling
– Staff resources were limited
– Data base was large but unstructured
• Opportunities:
– Publication was #1 in its category
– Name recognition was extremely high
– Editorial staff was very willing to work with ad sales
– Data base could be manipulated
NAFSA: A Case Study from an Ad Sales Perspective
• Goal: Significantly increase ad revenues for International Educator
• Steps taken:
– Develop a very strong media kit which hammered home value of reaching the audience
– Get purchasers of other sales opportunities
– Develop special offers for purchasers of other sales opportunities
– Primarily market and sell through email and phone follow-up
NAFSA: A Case Study from an Ad Sales Perspective
• Steps taken (cont.):
– Worked with editorial staff to develop supplements on topics of interest to readers AND advertisers
• Results to date:
– Advertising revenue is up over 50% year on year
– Sold out the Conference issue for last 3 years ($150,000+)
Questions?
Scott D. Oser PresidentScott Oser [email protected] = @scottoserwww.scottoserassociates.com