As Associations Pivot to Virtual Events, Sponsors can Provide Revenue and Content

by | Apr 29, 2020 | Non-Dues Revenue

Guest post by Bruce Rosenthal, Partnership Professionals Network

We’ve seen one conference after another cancelled due to COVID-19. Many associations are creating virtual events as an alternative. Sponsors of virtual events can play a significant role in providing revenue for associations and content for virtual event participants.

If your association’s in-person conference is cancelled, don’t rush to refund sponsor fees or transfer the sponsorships to next year’s conference. Many companies continue to value your members as a market and would like to engage with members this year. (Note: If you’ve already refunded or transferred sponsor fees to next year, the strategy below should be considered.)

Unless a sponsor company’s operations have been significantly diminished by the COVID-19 pandemic, the company may be more interested in “replacement value” this year. Some companies might welcome the opportunity to continue their involvement with your association to help members overcome new COVID-related challenges now.

This is where virtual event sponsorships come into play. 

What benefits should associations offer virtual event sponsors? If most of the benefits for sponsors at your in-person conference were logos on signage, banner ads, and recognition at general sessions, your virtual conference is an opportunity pivot to more valuable benefits.

Many sponsors derive minimal value from benefits related to logos, visibility and recognition. These companies often want to be positioned as thought leaders based on the wealth of expertise they have about the association’s members. 

For your virtual events, start by asking your top-level conference sponsors about their goals in sponsoring your in-person conference and the expertise the company has related to your members.

Then determine how each company could be a good match at your virtual event to provide useful content and support (not sales pitches). For example:

  • Executives from sponsor companies can provide useful content as panelists of virtual event sessions.
  • Associations and sponsors can conduct joint social media campaigns before, during, and after virtual events to disseminate relevant content.
  • Sponsors can provide educational materials to supplement virtual event presentations, such as checklists, white papers, and “how to” guides.
  • Sponsors can be interviewed during a “break” between virtual event sessions to provide informative ideas to members.
  • Sponsors can provide tickets to a segment of the association’s membership, such as student members.

The goal is a win-win-win …. value for your association’s members, value for your association, and value for sponsors.

See more information about corporate sponsorship strategies from the Partnership Professionals Network.