10 Strategies to Help Ensure Your Corporate Partnership Program is Successful
By Bruce Rosenthal, Corporate Partnership and Sponsorship Consultant
All types of 501(c) organizations – including associations, association foundations, and charitable organizations – seek to maximize their relationships with corporate sponsors and partners.
However, in recent years, organizations and their corporate partners/sponsors are often “butting heads”:
Organizations are seeking maximum revenue while minimizing risk.
Corporate sponsors and partners are seeking a return on investment without risking their marketing expenditure.
Here are 10 strategies your organization can implement to ensure your corporate partnership/sponsorship program is successful ... while meeting the needs of the companies that are participating in the program.
1. Align with the organization’s mission for a stronger organization
A stronger, more mission-aligned organization is of greatest value to members and other stakeholders, as well as corporate supporters.
2. Provide useful information for members from corporate partners
Similar to being mission-aligned, creating a corporate sponsorship/partnership program that provides useful information for members will be of benefit to the organization and its corporate supporters. The value of membership will be increased. Corporate sponsors/partners will be positioned as thought leaders by providing or funding solutions for members.
3. Maximize revenue
Maximizing revenue for the organization is certainly an important strategy. Revenue is needed to manage a corporate sponsorship/partnership program as to provide benefits to sponsors and partners. However, it shouldn’t be all about money for the organization; the sponsor/partner fee must be reasonable and affordable for each company.
4. Be sure your organization’s staff and board embrace the program
Recruiting and servicing corporate sponsors and partners will not be successful if the program is run as a “one person show”. Many other programs within organizations involve many staff and teams, including conferences and events; membership recruitment; education and training; etc. Most staff – as well as the organization’s board members – should be involved in the corporate program.
5. Transition from logo visibility to benefits of greater value for partners
Many corporate sponsors and partners say “logo visibility is the least valuable benefit of our sponsorship.” Organizations should identify opportunities to position corporate sponsors and partners for greater success in the areas of business development, brand exclusivity, and thought leadership.
6. Design the program to be lean; not complicated
An organization that offers four levels of year-long sponsorships, six levels of conference sponsorships, 20 sponsorable components at the conference, and numerous opportunities to sponsors webinars during the year has a complicated program. Seek ways to streamline the program to focus on the needs of each corporate sponsors or partner (see #7).
7. Address each sponsor’s or partner’s business needs
The emphasis here is on EACH sponsor’s or partner’s needs. Every company that engages a marketing firm receives a customized set of services to meet its needs. Similarly, each company that sponsors an organization should receive benefits based on their business and marketing needs.
8. Maximize the value of the organization’s intellectual and brand assets
Organizations and association have powerhouse brands and a wealth of information and knowledge about their stakeholders and their issues. Organizations and associations should position themselves like think tanks for the benefit of their corporate partners and sponsors.
9. Be the go-to marketing program for companies
Sponsors and partners are seeking marketing ROI. Associations and organizations should position themselves as the go-to marketing program for companies that are comparing your organization with other marketing opportunities, including competing organizations.
10. Establish guidelines for partner equity
Sponsorship and partnership programs should not be managed like the Wild West. Associations and organizations should have guidelines for their programs; clarity on who on staff sells what, to who, and for what price; and equity among sponsors and partners.
What’s next for associations and organizations that want to reap the benefits of a successful corporate sponsorship or partnership program?
Creating a successful corporate partnership/sponsorship program requires:
Culture change ... to ensure board and staff support.
Business model ... to ensure successful implementation.
Strategy ... to ensure organizational advancement.
Allocation of resources ... to ensure goals are achieved.
You may want to seek information from the Partnership Professionals Network.
Bruce Rosenthal is a strategic advisor and consultant to associations and not-for-profit organizations, creating successful corporate partnership programs that increase revenue and add member/constituent value. He can be reached at bruce@brucerosenthal.associates, 301-922-6179; www.brucerosenthal.associates.