Presentation on theme: "The Other Green: Developing Sponsorships and Fundraising Ideas that Drive Chapter Revenues Katie Callahan-Giobbi, EVP MPI Foundation & Chief Business Architect,"— Presentation transcript:
The Other Green: Developing Sponsorships and Fundraising Ideas that Drive Chapter Revenues Katie Callahan-Giobbi, EVP MPI Foundation & Chief Business Architect, MPI Betty Schnaufer, Director of Strategic Partnerships, MPI
Today’s Objectives Understand how strategic partnerships and fundraising can help your chapter’s budget How to define and deliver value for your partners today and tomorrow How to ask for cash The role of the MPI Foundation Know the top 10 pitfalls of a sponsorship program
What is sponsorship? Sponsorship is the act of supporting, officially or financially, a project or an event carried out by another group or business where the business would get something in return Sponsorship helps organization creatively reach a specific audience in ways other marketing campaigns cannot
What it is not… Philanthropy – support of a cause without any commercial incentive Advertising – direct promotion of a company through space or air time
Why Sponsor? Why Give? Building brand awareness Different than static brand advertising Promotional strategy to reach a targeted audience Face to face interaction with prospects Lead generation Change or reinforce their image in the marketplace Industry leadership and positioning
The MPI Foundation To support the mission, vision and strategic imperatives of MPI To lead the industry into the future To raise money…and reinvest that money back into our industry To make our members successful.
The MPI Foundation Raise money through individual donations, corporations, CVBs, independent planners, small businesses, chapters. Give money away to chapters through chapter grants, individual grants, major grants, scholarships, educational series, chapter education, research projects, etc.
Define your assets Annual partnership Event partnership Educational series Awards program Networking event Chapter website or chapter newsletter
Determine your Audience Know your membership (planners, suppliers, meeting management companies, students) Business segment Demographics Local vs. national vs. global Buying power Title/level End user or third party
Determine your Pricing & Packaging Cash vs. in kind Bundling of benefits Benchmark against your competition Historical information Know market trends and current economic drivers
Develop a Sales Plan, Target List & Timetable Develop a list of best customers (“A” accounts, “B” accounts and “C” accounts) Repeat customers Industry vs. non-traditional partners Realistic timeline from sales to implementation Set the stage for next year’s efforts Know your partner’s budget year and when decisions are made
Ready…Set…Sell! Sales approach – consultative selling Understand your partner’s business needs Agree on desired outcomes and metrics for measurement Consider multi-year deals Uncovering and addressing objections Closing the sale; letter of agreement Delivering partner benefits
Top 10 Pitfalls of a Sponsorship Program 10) Organizations that over-promise and under- deliver on their sponsorship agreements. 9) Promising a benefit that is not within your span of authority and you do not have the ability to ensure it will be delivered. 8) Lack of senior management buy-in and support. 7) Unclear target audience; lack of data on your audience. 6) Improper tracking and execution of benefits.
Top 10 Pitfalls of a Sponsorship Program 5) Lack of follow up either during the sales process or in the execution stage. 4) Failure to measure return for the sponsor based on the metrics each party agreed to. 3) Inconsistent delivery on benefits (missing deadlines, incorrect logos, etc.) 2) Taking existing sponsors for granted. 1) Not having a solid yet flexible business plan that adjusts according to market conditions and changes within your organization.