Chamber of Commerce Sponsorships

Chamber of commerce sponsorships are a great way for businesses to support their local community and get their name in front of a wider audience.

There are many different types of chamber sponsorships available, so businesses can choose one that fits their budget and goals.

Here are some of the most common types of chamber sponsorships:

• Event sponsorship: Businesses can sponsor a chamber event, such as a luncheon, gala, or trade show. This is a great way to get exposure to a large number of people in one place.
• Membership sponsorship: Businesses can sponsor a chamber membership for a non-profit organization or individual/s. This is a great way to support a good cause and get your name in front of a new audience.
• Program sponsorship: Businesses can sponsor a chamber program, such as a business education series or a networking event. This is a great way to connect with other businesses in your community and learn about new opportunities.
• Advertising sponsorship: Businesses can purchase advertising space in the chamber's newsletter or on its website. This is a great way to reach a targeted audience of business professionals.
• Donation sponsorship: Businesses can make a donation to the chamber's general fund. This is a great way to support the chamber's mission and help it continue to serve its members and the community.

Your members should be thinking of the following when choosing a chamber sponsorship, it is important to consider the following factors:

• Their budget: Chamber sponsorships can range in cost from a few hundred dollars to several thousand dollars. It is important to choose a sponsorship that fits their budget.
• Their goals: What do they hope to achieve by sponsoring the chamber? Do they want to increase brand awareness, generate leads, or build relationships with other businesses?
• The chamber's mission: Make sure that the chamber's mission aligns with their own values and goals.
• The chamber's audience: Who is the chamber's target audience? Make sure that the sponsorship will reach their target audience too.

By considering these factors, they can choose a chamber sponsorship that is right for their business and helps you achieve your goals.

Here are some additional tips for both parties to get the most out of a chamber of commerce sponsorship:

• Be clear about expectations. When you approach the chamber about sponsorship, be clear about what you hope to achieve. This will help the chamber to match you with the right sponsorship opportunity.
• Work to create a customized sponsorship package. The chamber may be able to create a sponsorship package that meets your specific needs and budget.
• Promote the sponsorship. Let your customers, employees, and other stakeholders know about the sponsorship of the chamber. This will help to increase awareness of their business and the chamber.
• Follow up conversations. After the sponsorship has ended, be sure to follow up to see how it went and to discuss future opportunities.

By following these tips, both parties can get the most out of a chamber of commerce sponsorship and help to support your local community.

Strategic Sponsorships: Aligning Members With Your Chamber’s Mission

A recent webinar presented by Jessica Simpson, VP of Membership, Greater Pensacola Chamber, addressed the issue of Strategic Sponsorships.  The following is my take away.

It's a mindset from moving away from individual transactions to a partnership that could last multiple years.

 

She started out by talking about Total Resource Campaigns and at the end of the day, they're all about a sponsorship drive.

 

Strategic sponsorships is all about the opportunity to align what you do with possible sponsors on issues they care about.

 

It allows a member/sponsor to align their sponsorship awareness with a program of work at the chamber (workforce, education, technology). If you do it right, you will see your engagement grow with those sponsors.

 

It’s also important to treat these relationships as partnerships which will allow you to create longterm commitments and not just create one-off transactions.  You don’t want to be in the transaction business, you want to be in the partnership business.

 

Start having conversations with possible sponsors to find out what they care about and what they will support.  If it’s in your program of work as a chamber, you’ve got a match (i.e. quarterly breakfast on a specific subject; Economic, Legal, Health Care, Education, etc.).

Suggestions on who might support those special quarterly breakfasts per issue:

 

• Bank – economic updates
• Hospital – health care trends
• College – education, workforce
• Law Firm – legal trends, policy and regulatory issues

 

I would suggest a three-year commitment to be a named partner for any program you create.  It’s also important that you communicate to your members the support of the named sponsor throughout all your communication channels.

 

Think holistically when setting up a possible partnership program, create a plan and ask your members to sponsor it!

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!

Design and Implement a Successful Sponsorship Program

If you're like the rest of your peers around the country securing sponsorship dollars, new and legacy, you might want to review the tips below as you move forward.

JP Moery, President, The Moery Company and Patty Leeman, Chief Analyst, The Moery Company recently conducted a workshop, on the title of this blog!

They structured their presentation around the following four concepts.

• Why do sponsorships matter;
• How to build a new sponsorship program;
• How to assess sponsorship cost vs value; and
• How to sell sponsorships.

My notes from the session are as follows:

Why do sponsorships matter?

Studies show it's a:

• $600 million game
• 75% considering new sponsorships

Sponsorships today meet multiple goals for the association and for the sponsors.

How to build a new sponsorship program?

Data tells, stories enable you to sell - interview potential sponsors, ask them what they want?

Build a program that goes beyond the 3 days at the annual meeting, they want to be connected the other 362 days a year.

Not only do you need to interview potential sponsors, you need to interview staff to make sure you can deliver what you're going to put in the prospectus.

The key is to have consistency amongst your staff to ensure you are delivering the product, and oh by the way, make sure you can deliver what you've put in the prospectus.

You need to start at least six months in advance so you can deliver the product of the sponsorship.

Do you segment your sponsors? Do you know where your sponsorship money is coming from?  How about the bulk of the money?  I bet it's coming from 20% of your list of total sponsors - think 80/20 rule.

How to assess sponsorship cost vs value?

Move to program based budgeting to figure out the real costs. What is the product or program going to cost, not just the cost of the pen, but the staff time to order, put in bags, etc.?

How to sell sponsorships?

The first two things to ask yourself and be mindful of:

1. What is the buying season for the sponsor?
2. When are they flush with money?

Once you've figured that out, it's time to put the other pieces into place. It's important to put the demographics in the prospectus.  Remember, the prospectus is built for the sponsor.

Write the prospectus that answers the business objectives from the sponsors perspective.  Naming rights are hot right now, think podcast, fly-in sponsored by ABC company.

How about the opportunity to speak on a panel?

Thought Leadership Program?  Think content produced over a 12 month period.  This can be very beneficial for both parties.  Pick an issue that is hot in your community.

By the way, don't forget to grow your current sponsors first before chasing that new potential sponsor.  I bet you're already doing this in your membership space. Think tiered dues where you upgrade a member to the next level.

Are you renewing their sponsorship right after the event for the next year when they are on a high from the meeting or program that just finished? If not, you should be.

Are you using a CRM (a customer relationship manager system) to keep track of your communications so you can track your progress with your sponsorship contacts?

Straight from JP, "If it's not in your CRM, it didn't happen!"

And their final thoughts:

• Interview your sponsors;
• Get the data to assist in creating your prospectus;
• Develop prospectus for sponsor audience; and
• Capture all communications in your CRM.

For more information on The Moery Company go HERE.

Sponsorships: Make it a Win Win For Both Parties

Sponsorships have been a great source of income over the year, but are we spending the right amount of time and energy to make sure they are working for both the sponsor and the chamber?

I like to use the word "partner" instead.  It just makes a statement that we’re in it together.

And that's the way it should be.  They need to see value, if they get it, they’ll be there for the long haul and that means you have to spend less time on the next deal.

Do you have exclusive deals?

In other words, limit the about of “partners” you will have and focus on those opportunities in your program of work.

I’m a fan of less is more, that's an example of fewer “partners,” but paying more for that opportunity, which is a win win for both entities involved.

What are some of the things you could be doing together:

• Joint marketing letter/email showcasing their product/program;
• Logo placement throughout the year on your social media platforms and website;
• A chance to introduce a speaker/s at your monthly programs; and
• Allow them to write a blog post (you have editing rights) etc.

Again, what’s key is your future sponsorship deals is to think of them as “partners."

Something to think about!