Show Me the Money: Partnerships and Sponsorships Camille Downing, Gary Spondike, Guy Westermeyer

I like to spend money. Show me the money. Money?

Session Agenda Identifying Potential Sponsors Identifying Sponsorship Levels Show Me the Money After the Event The Sponsorship Challenge

Identifying Potential Sponsors

Identifying Potential Sponsors How do you create a target list? Board members Organizations/companies Personal connections

Identifying Potential Sponsors How do you prioritize the target list? Hot, medium, luke warm Identify connections People give to people Decision makers

Identifying Potential Sponsors Developing a tracking document Contact Information Responsibility Target Ask Status Contract Payment

Identifying Sponsorship Levels

Identifying Sponsorship Levels What can you offer a sponsor? Marketing presence Chance to get in front of group of potential customers

Identifying Sponsorship Levels What can a sponsor offer to you? Money, money, money Materials, information Guest speaker or keynoter Giveaways In-kind services

Identifying Sponsorship Levels In-kind vs. Cold Hard Cash What things make for good in-kind sponsor? What things make for bad in-kind sponsor? Always good to get cash first Ratios: what is actual value of in-kind sponsor

Identifying Sponsorship Levels

Identifying Sponsorship Levels

Identifying Sponsorship Levels

Show Me the Money So we’ve created levels – how do we assign values? How do we get to that hard cold cash? First we need to answer some questions.

Show Me the Money What is your financial objective? Off-set costs for members Raise money for scholarship Send someone from board to LI Fund other board activities Build reserves

Show Me the Money How much do you need to secure?

Show Me the Money Understanding Your Real Cost Hidden Fees Service Charges (is this taxed?) Taxes Hidden Fees Tables Trash cans Electrical Plates Glasses Table clothes Give caveat that this may come from their finance person or their board president, but if not someone must think about this.

Show Me the Money Event Example – funding member attendance Full Cost of Event/Attendee Expecting 100 Attendees $50.00 $5,000 Member Rate $35.00 80 attendees $2,800 Non-Member Rate $50.00 20 attendees $1,000 $3,800 To break even you need $1,200 in sponsorship

Show Me the Money How do you assign values? Look at what you need to raise Look at competing organizations in your area Be realistic based on what you are offering

Show Me the Money Contract Don’t overpromise Get it in writing Collect then deliver

After the Event

After the Event Thank you, thank you, thank you Data: attendees, hits, impressions, reach, emails, open rates, etc. Providing access to attendee contact info Thank again

The Sponsorship Challenge

The Sponsorship Challenge Choosing the Best Sponsor Sponsor Packages In-Kind Considerations Sponsor Expectations Demanding Sponsor

Questions and Resources Online