Sponsorship Tips

I recently attended a great class on sponsorship tips led by Brad Lacy, IOM, CCE, President and CEO, Conway Area Chamber of Commerce.

The following comments below are from my notes during this great two hour session.  He started with:

Trouble Signs of Sponsorship Programs

  • Nobody's buying;
  • We need your support (never use this line).  You are not a charity; and
  • Nobody's attending.

Successful Sponsorship Programs

  • Events sold out;
  • You exceeded your goals;
  • Renewed sponsorships at a high number for same event last year;
  • You're communicating the value; and
  • You're customizing based on each sponsors needs.

He went on to talk about how your pitch to a potential sponsor should be focused on showing the value of the program or event.  You must understand your target audience, and understand your product.

What documents are your sponsors/investors receiving, a follow-up collateral piece with their logo, pictures of event and list of speakers?

Show how they are supporting the community while getting branding recognition w/logo placement.  Follow-up with a collateral piece to show your event and sponsor participation.

And that collateral can be used for recruiting new sponsors as well as showing the value to those sponsors who attended the event.  Your collateral piece might include:

  • Pictures;
  • Content;
  • Community connection; and
  • Showcasing the leaders at the event.

It’s never about supporting an entity (i.e. chamber, YPG, etc.).  It’s about showing value - access to XXX number of people that they could do business with in the future.

He went on to talk about creating an event/program that works for your sponsors (i.e. time wise)?  Think about the small business member whose office opens at 10:00 a.m.  Are you creating opportunities for them to sponsor an event on their off hours?

That's a great way to take any barriers away from participating as a sponsor at one of your events.

Good luck recruiting sponsors for your next event!

Guide to Governance

recently attended a class on governance for chambers and associations with Bob Harris, CAE.

The following are my notes.  It was hard to keep up with Bob, he was giving tips and best practices in a rapid-fire presentation.

Here we go!

Best Practices:
  • Conduct an annual orientation for your Board of Directors with governing documents reflected in your minutes.  What a great way to protect yourself.
  • Make sure they know their fiduciary responsibility – Duty of Care, Duty of Loyalty and Duty of Obedience.  For a previous blog post on that subject go HERE.
  • Protections of the board (4)

o   D&O - Directors and Officers insurance
o   Incorporated
o   Indemnification
o   Volunteer immunity

  • Put your mission statement on the back of your Board of Directors tent cards at your meetings.  Also, it should always be on your meeting agenda too!
  • When selecting board members, he used these words in what to look for “time, talent and treasury.”  I have always said “passion, intellect and money.”  We’re saying the same thing!
  • Average size board is 15
  • Chambers typically meet once a month, he suggested try meeting every other month.
  • Associations generally meet three times a year.
  • What’s your tag line?  Vision.Value.Voice. – not a bad start to build on!
  • Ex-officio members appointed to board because of their position somewhere else - bottom line, you’re on the board or not?  I am not a fan of ex-officio members and I’ve stated that multiple times on this blog.
  • 2015 California law doesn’t allow non-voting ex-officio board members.
  • If you send the Mayor (ex-officio member) your agenda, it just became public.
  • Your 990 is your only public document.

Tips on good board governance:

  • Board sets policy, staff implements that policy
  • Board should be concerned on issues beyond their term.
  • How many committees do you have?  Committees should match up with your strategic goals (i.e. four goals, four committees).

He ended with a review of our governing documents:

  • Articles of Incorporation (contract with state)
  • Mission (purpose of existence)
  • Bylaws (relationship to members)
  • Policies (interpretation of governing documents)
  • Strategic Plan (roadmap of organization GPS goals, priorities, strategy)
  • Annual Budget

And a final statistic, 9% of your budget should be spent on technology based on research by (ASAE and ACCE).