Sponsorship & Financial Management
As with Association management itself, staging a successful event involves generating watching the dollars and cents. There are three main sources of revenue for an event:
- Tradeshow exhibitors
- Sponsors and partners
Bringing participants to the events looks after the admissions, and we have discussed exhibitor management elsewhere. The remaining revenue source, sponsors and partners, can also be a lucrative way to build event revenue and, in the longer term, create strategic partnerships with important firms and groups in your field.
Involving partners or sponsors in events, whether they provide pledges of cash or donations in-kind, can make staging an event much easier while helping reduce member/participant costs, thereby making the event more attractive. We have been working with clients in this regard since 1967; let us help you by:
- Identifying appropriate levels of sponsorship, with the
benefits accruing to each
- Preparing and distributing sponsorship solicitations, if you
choose to take this approach
- Arranging and facilitating meetings with potential sponsors/partners, either as a separate approach or as a follow-on to another solicitation campaign
- Tracking potential and actual sponsors through a purpose-designed database; this helps with management of the current event and provides a list of “warm” contacts for future solicitations
- Create sponsorship and partnership agreements, and track fulfillment of those agreements
A single sponsor can lead to others, and sponsors can become long-term partners of the Association. Let us help you build those wide-ranging, long-term relationships to advance the work of your organization and contribute profit to your events.
Through careful management of expenses (venue and supplier negotiations and management), we watch this important side of your event. However, financial stewardship extends beyond this to proper financial management. Let us ease this process for you by:
- Working with your Committee to establish and confirm an event budget consistent with your overall budget guidelines and processes
- Managing collections and disbursements as per budget parameters
- Providing electronic payment options to participants, exhibitors and sponsrs, using our secure server
- Making our Visa, MasterCard and American Express merchant accounts available for faxed, mailed, online, telephoned or personal payments
- Producing interim and final event financial statements, within the framework of your overall financial statements, monthly as required
Between managing revenue and expenses, and professional reporting of financial results, we can eliminate one of the major problems faced by event organizers. Let us show you how.