Sponsors can be as equally as important as members, if not more so, for some associations, which is why it is vital to have the right systems in place to track that within your membership management software.
The most common sponsorship categories are the following:
- Platinum Sponsor
- Gold Sponsor
- Silver Sponsor
- Bronze Sponsor
This article will outline four different ways to track your sponsors depending on your sponsorship needs and payment collection.
The most common and recommended way to track is by using membership categories for different sponsorship levels. Using membership as the method to collect payment allows you, as the administrator, to collect the needed information about your sponsors and have an approval process to limit the number of sponsorships you want to offer. With the sponsors having a sponsor membership, they can also have access to the member benefits you provide within the member portal. For example, you can provide special event pricing, allow them access to member benefits, and advertise sponsors on the public website and member portal.
If the four sponsor categories indicated above fit with your organization. It is recommended to create a sponsor membership category for each of them to produce reports quickly and set up automatic payment options on a monthly or annual basis. Giving your organization another consistent revenue stream without having to track down sponsors personally for payment.
Using a membership option can also be beneficial because it allows you to create a directory of your sponsors to showcase in the member portal and your directory allowing the sponsors to update their contact information within the member portal.
The second option for tacking sponsors is to use a custom field on the contact record or profile to track the sponsor’s information manually. With Member365, we call our custom fields Contact Demographics. Learn more here. Custom fields are an excellent option for monitoring sponsor information. However, you will have to manually input the information in the CRM and create custom invoices when it is time for the sponsor to pay. Custom fields are another way to create a sponsorship directory within our platform, the same way as a membership category.
Suppose you are looking to allow your sponsors to donate any amount to become a sponsor. A fundraising campaign is an excellent option as you set standard amounts and enable the sponsor to enter any amount they would like to donate. Invoices will automatically be sent with tax receipts. Learn more about Member365’s Fundraising options here.
If you need to limit the number of sponsorship packages you offer for each sponsorship category, it would be recommended to use a store to allow your sponsors to purchase their sponsorships at any time.
The most common sponsorship categories are broken down as the following:
- Platinum Sponsor – two spots
- Gold Sponsor – three spots
- Silver Sponsor – five spots
- Bronze Sponsor – unlimited
Using the store method, you can create a store item for each sponsorship category and limit the spots available for purchasing. You can also create a store category for users to filter all sponsorship packages on one page of the store. The Member365 Store can be embedded into your website as well as be available in the member portal. Learn more about Member365’s store options here.
Depending on your needs, there are many different ways to track sponsorships within your membership CRM. So if you are looking for the best way to track your sponsor reach out to your Membership CRM Success Coach team to strategize a way the works best for your team.