The ‘perfect’ sponsorship or partner often doesn’t exist in the modern world of sponsorship and partnerships. The changing landscape of sponsorship, especially within the professional body and membership world, means that alignment goes beyond reach or reputation. Building a relationship with a sponsor is multi-faceted and now includes considerations such as company values, sustainability commitments, external media noise and budget availability.
Strong alignment helps to ensure that both parties are working towards a common objective, creating a harmonious, productive and successful relationship.
The team at b2b have extensive experience in building relationships which span single activities through to large multi-year campaigns, and we have identified some common priorities which help to ensure a sponsor is a good fit and shares your values and goals. We have summarised some of the teams core criteria that they look for when building relationships on behalf of our clients:
Reputation
It is important to examine your potential sponsors past successes and achievements. When was the partner founded? How successful has the partner been during its history? Have they been in the news recently? Looking at their media centre or a quick search for them in recent news will help you see their recent affairs and identify if any are a concern (or on the flip side, an opportunity to reach out to them to build a relationship).
Partnering with a well-respected and credible organisation can enhance your brand image. Aligning with a controversial or poorly regarded sponsor could potentially harm your reputation or call your organisation into question – especially when you’re partnering on a specific topic, theme or project.
Make sure you thoroughly research potential sponsors to ensure they maintain a positive public image and their reputation is aligned with your objectives and position.
Audience
An ideal sponsor could also bring a new audience or network to help you increase your brand exposure and reach. This overlap could enhance the impact of your marketing efforts, as the sponsor's audience also likely to be interested in your organisation or services. A good sponsor will look to incorporate their networks and audiences into the activity to generate great reach or enable you to build new relationships. Make sure you ask them about their audiences, target sectors or priority decision makers to ensure strong overlap or potentially spot opportunities for great reach and engagement.
Social Contribution
A sponsor who contributes socially and has a strong social value commitment is likely to align well with your organisation – give your not-for-profit or charity status. Sustainability and ESG priorities are also strongly at the top of corporate agenda, so this factor is also important to consider and research to ensure they align with your organisation.
We are seeing more active action by sponsors and membership organisations to ensure policies such as sustainability, social value, diversity and inclusion, modern slavery, anti-bribery and data use.
Sustainability projects and social value initiatives are common programmes which the team at b2b build partnerships against and this is an important factor when we are researching relevant and appropriate sponsors for the activity.
Sponsors are also attracted to organisations that contribute socially and those that actively action towards social factors, so this is important to consider when you’re shaping your opportunity.
Long-Term Potential
While short-term sponsorships can be effective, long-term partnerships often yield better results. Consistency helps build brand recognition and loyalty and enables you to plan more effectively for future activities if you know you have a partner on board for a multi-year programme.
Look for partners who are interested in establishing a long-term relationship, as this can lead to more significant and sustained benefits for both parties. This type of question in your exploratory call, in terms of ‘are you looking to build a long-term partnership with us, or are you looking more medium-short term?’ will help you understand their ideal relationship and you can then assess the right opportunity to match their ambition.
Alternative Revenue
A core factor to a sponsorship or partnership being successful is the commercial arrangement itself. Straight forward sponsorship can be outlined clearly with a potential sponsor and other relationships, such as joint ventures, reseller models or channel partnerships are more complex to shape and agree to. Be clear with a sponsor or partner what type of structure you are looking for, but a good sponsorship or partnership will bring alternative revenue into your business to enable you to reinvest this into member activities.
Alternative revenue streams to membership subs, conferences or publications are a growing challenge for professional bodies and we are always working with clients to identify new opportunities and untapped areas where sponsor revenue or partnerships can help bring income or cash equivalent to the table.
The team at b2b have grouped together and formed this quick checklist of points to consider when searching for your next sponsor. If you’re struggling with sponsorship or would like to brainstorm your ideas, feel free to reach out to us here and we would be more than happy to have an exploratory conversation and share our expertise.
Increase Brand Visibility: Sponsorship provides a platform for you to showcase your brand to a wider audience. By aligning with organisations that are recognised in your membership or wider network, you ensure that your brand is seen by those who matter most. This visibility can lead to increased brand recognition and recall – and we know ‘voice’ is a very measurable and current metric for associations and membership organisations at the moment.
Enhanced Brand Image: Associating your brand with reputable companies can positively impact your brand image. It demonstrates your commitment to supporting the wider community or industry and can enhance your reputation as a socially responsible and engaged organisation.
Direct Engagement with Target Audience: Sponsors can offer unique opportunities for you to engage with their clients – who may be potential members. Whether through event activations, social media campaigns, or on-site promotions, you can create memorable experiences that foster a deeper connection with your brand.
Networking Opportunities: Sponsors often come with access to exclusive networking opportunities, above and beyond the event or activity they may be sponsoring. Consider their requests if they bring something to the table last minute, as it could open doors to new partnerships and collaborations.
Measurable ROI: Ensure you talk with our potential sponsor about ROI metrics and how they be measuring the success of the relationship. With clear goals and the right metrics in place, you can track the impact of the sponsorship on brand awareness, engagement and business development.
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