Associations need a well-executed delivery process to ensure a highly professional experience for their valued sponsors.
Yes – a High Performance Organization™ understands the Seven Steps to Successful Sponsorship and the importance of Attracting and Retaining Sponsors.
But it’s not just about the sale. Take a step back and consider your key tracking and communication pieces – they are the unsung heroes of a successful sponsorship program!
- The Sponsorship Tracking Sheet
In any sales effort, it is vital to manage your prospect list. The tracking sheet keeps you on a clear path and directs your communication efforts and messaging. It tells you – who was a past supporter, when, and at what value? Who declined and why? Who will benefit from being a sponsor? It also provides current contact information and outreach tracking – all in one place.
- The Sponsorship Prospectus
The sponsorship prospectus is the foundation of your campaign. It should be attractive, professional and informative. The prospectus provides key information about your organization, and full details of your sponsorship offerings. It is important that the information is presented in a clear, logical and easy to read manner. Consider using charts that highlight the different benefits per sponsor value or list the opportunities with details about the deliverables in order of value and privileges.
- The Sponsorship Letter of Understanding (LoU)
The Letter of Understanding (LoU) is essentially the “contract” between you and the sponsor. It outlines precisely what you are delivering to the sponsor, and what is required of them. It ensures that the sponsor knows exactly what to expect, and reduces the possibility of misunderstanding or disappointment.
The LoU should be accompanied by an invoice. The sponsor should return a signed copy of the letter, with the payment, before any privileges are delivered.
- The Sponsorship Deliverables Chart
Once the sponsorship has been secured, it is important that both you and the sponsor meet your obligations. In some cases, once a sponsor has been secured, it falls to another team member to manage the deliverables and make sure that deadlines and requirements are met. This internal document makes sure that all team members understand what is required of the association and the sponsor, and when.
- The Sponsorship Thank You Letter
Associations often overlook the importance of formally thanking a sponsor. A hand-written card signed by the president, executive director and/or conference chair can go a long way toward demonstrating your appreciation of their support as well as the ongoing value they bring to your association.
This may seem like a lot of work – and it is! But it is the backbone for strong and long term relationships with your sponsors. If you’d like some help to build your platform, find out more here.