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Roundtable Recap: Sponsorships
Roundtable Recap: Sponsorships

October 20, 2022

Lane Gibbs avatar
Written by Lane Gibbs
Updated over a week ago

In preparation for the new year, Novi customers discussed their best strategies for attracting and retaining sponsors. Plus, we exchanged tips for setting up sponsorship products and event tickets in Novi.

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Key takeaways from the roundtable:

Reward Loyal Sponsors

  • Give your current sponsors first dibs on upcoming opportunities!

    • Leave new sponsorship product pages inactive until you've personally reached out to your most dedicated sponsors.

  • Consider creating Novi Groups for different sponsor levels. Then, open a sponsorship product page to more and more groups each week. This will allow high-level sponsors to grab opportunities first.

Experiment with New Opportunities Often

  • Distribute annual surveys asking sponsors to review the past year's opportunities. Which opportunities were most fruitful? Were there any options they felt were missing from your offerings?

  • Plan how you'll promote new opportunities to longtime sponsors.

    • Sometimes loyal sponsors struggle to adapt to new sponsorship levels or bundles. Communicate how experimenting with these new bundles will benefit them.

  • Try offering fully customizable sponsorship packages. If you separate every sponsorship opportunity into a unique Novi ecommerce product, sponsors can create a perfectly personalized bundle.

Make Prospectuses as Comprehensive as Possible

  • Your prospectus shouldn't only be about packages and pricing β€” it should be a representation of your association's brand and mission!

  • In your prospectus, specify which member types your association reaches during each event. That way, prospective sponsors can decide if your members match their target audience.

Balance Annual and Event-Based Sponsorships

  • Don't restrict yourself to either event-based or annual sponsorships! Annual packages help you build strong long-term relationships with sponsors. Meanwhile, event-based packages can attract valuable sponsors who simply have a smaller budget.

This roundtable may be over, but you can continue discussing sponsorships in Novi Exchange!

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