When b2b started working with the Pensions Management Institute (PMI), the Institute hadn’t previously undertaken any specific commercial partnerships or sponsorship activity other than occasional events sponsorship and was looking to embrace sponsorship as means of creating an additional income stream. The Institute also felt that it would gain more if it proactively developed a commercial partnership programme and at the time had looked to other Institutes and felt it was lagging behind other professional bodes. It was concerned that members felt it was not competing on a commercial level.
b2b’s program of work
b2b’s first steps where to work closely with the Institute to look at all existing activities with a view to identify where commercial opportunities lay. b2b then worked with the Institute to shape and develop activities to form viable commercial propositions to take to market. At the same time, b2b also began facilitating relationships between the Institute and potential partners. This process allowed b2b to identify common goals, the capabilities and strategies of the corporate and match those to the Institutes’ activities.
The Institute was particularly keen to tap into Intellectual Property of corporates who operated in the sector which would be of value and interest to members, and also develop some high brow research campaigns which again would provide valuable insight to the membership. These activities became clear focus of the sponsorships and partnerships b2b developed with the Institute and sponsors.
Once sponsors were on board, b2b worked with the Institute to develop clear agreements between the sponsor and Institute, protecting the Institute’s brand, activities and members. b2b also worked with the Institute to manage and service the sponsors, developing relationships where possible and widening the sponsorship relationship to other activities if appropriate.
Outcomes and benefits
Working as almost a team of the Institute and reporting to senior management and council, b2b developed a series of highly targeted, intellectual content based, value added partnerships that supported the Institute’s strategic objectives, including enabling the Institute to tap into resources, content and intellectual property outside of the own core competencies, all of which added value to the membership. In year one, b2b secured over £200,000 in sponsorship income for the Institute from only seven sponsors and built long-term, multi-year partnerships that would compound new revenues into the business. Some of the partnerships b2b secured in 2008 / 2009 are still in place and investing in the PMI today.
In addition to generating income, the client has also benefited through:
- Enhanced reputation within the market place from strategic brand alignment with some of the world’s most renowned investment houses, insurers and banks.
- Development of new activities or enhance existing activities through additional income, resource and expertise.
- Enhanced member services through the development of intellectual property and content
- Sector/topic specific insight research programs which results are of value to the industry and membership.
- Development of core relationships with renowned third parties, enabling them to raise the profile of the Institute’s activities and membership.
- Reinforcement of the Institute’s strong reputation for independence and credibility within the sector.
- Partnerships that supported the Institute’s strategic objectives and helped deliver these and drive the Institute forward in the right direction.
Since b2b developed the sponsorship program for the client, the Institute has received exceptionally positive feedback on the sponsored activities, the new initiatives and the relationships they have created through its sponsorship program. Members and key stakeholder feedback has been positive and sponsors have actively achieved their objectives through the sponsored activities.
b2b also supported the Institute on the development of new web member segmented areas, development of a careers portal, salary survey, the tendering of ad sales support, the negotiation and outsourcing of an online TV facility to service members. Return on investment of b2b’s services to the PMI over the period it worked for the institute was c.290%