Last week on our program, 6 Degrees of Association, we had the opportunity to speak with Lewis Flax of Flax Associates about how associations should be thinking through their event sponsorship strategy going forward and his advice got us thinking! To recap his three key recommendations, they are:
1 Do not lead with your event in conversations with your partners.
2 Think about what can be offered beyond your event.
3 Focus on your top sponsors.
Whoa. If ever there was a wake-up call, COVID-19 has certainly been one for most organizations but this particular triple threat advice got us…
Advertising dollars are being cut, corporate social responsibility is now dominated by COVID-19 protocol compliance stories, physical events have all moved online. These are just some of the headlines we have seen across industries in the last eight months. They have everyone running scared for market share and visibility, and as a result, organizers of virtual events and content makers alike are providing everything at…free-ninety-free.
How will this affect your bottom line, or worse yet, your future ability to charge a premium for your live events and well curated content? These are questions every marketing department, association management executive, and…
Expense Reduction Treadmill Trend Explored
Recently we read about the American Bar Association’s struggle to strike the right balance between cutting expenses and increasing revenue. This problem is of course, not unique to the ABA, nor any other business in ordinary times let alone times of crisis. Properly credited, Michelle Behnke, the former treasurer of the ABA pointed to their pickle as the “expense reduction treadmill”.
All too often organizations are faced with tough decisions around how to maintain profitability while retaining key staff and innovating service and product offerings. Associations have a particular challenge in competing with a highly…