Nondues Revenue in Pandemic Times
Use digital channels for sponsorship
As I wrote last week in the first article in this series, associations are looking to beef up nondues revenue to maintain budgets amidst a sluggish pandemic economy. One place they have sought extra income is from sponsors. However, with virtual events usually not able to offer sponsors the same value as in-person ones, experts say it’s important for associations to look at all their content channels—not just events—when reaching out to sponsors.
“You want to start with some type of an audit of your channel assets,” said David Frankil, CEO of Frankil Advisory Services. “If you’re going to be talking to technology providers, ask yourself, do you have a technology community? Do you have a monthly newsletter? Do you do a daily blog post or weekly blog posts? Do you do podcasts? Assemble what your channel assets are to communicate value. From that, you design a structured program.”
These channels allow associations to sell content sponsorships or allow sponsors to create content for those channels. Sean Soth, founder of Professionals for Association Revenue, said it is important to understand how each content channel connects with the audience when talking to sponsors. Some channels may be better-suited for awareness campaigns, while others position the sponsor as a thought leader.
Please select this link to read the complete article from Associations Now.