Samantha Whitehorne is deputy editor of Associations Now in Washington, DC.
A new IEG survey shows that the majority of associations saw an increase in sponsorship revenue in 2013. But to keep the growth going, they must look for new sponsors, have a dedicated staff, and streamline their sales efforts.
The economic recession of the late 2000s required associations to be more strategic and creative about generating nondues revenue, particularly from their sponsorship programs. But it seems the hard work paid off: 75 percent of surveyed associations reported an increase in sponsorship revenue in 2013 compared to 54 percent that reported an increase in 2011, according to a new IEG survey.
The report, "State of Association Sponsorship," assigns much of the credit for that increase to a rebounding economy but also attributes it "to partnerships
that offer higher value propositions, as brands are looking for associations to serve as strategic advisors to help engage members or other involved individuals."
But even with revenue increasing, associations still have work to do to maintain that upward climb. Here are three factors they need to consider to keep sponsorship revenue growing, according to the report:
Associations also have other plans in place to increase revenue: 71 percent say they are developing new sponsorship packages, 57 percent are working on new programs that will require sponsors, and 79 percent plan to upsell existing sponsors.
Samantha Whitehorne is deputy editor at Associations Now in Washington, DC. Email:[email protected]
[This article was originally published in the Associations Now print edition, titled "Making the Cut."]