Sponsored By Feathr
How Sponsored Retargeting Creates a New Revenue Stream
For most associations, a lot is riding on that annual event. And that’s because the two major streams of revenue are the membership itself and the big event.
By Isa Hasty
You should make the most of your events. But you could also take some pressure off them by opening up an entirely new revenue stream through sponsored retargeting.
Let’s walk through how associations can unlock a new stream of non-dues revenue with sponsored retargeting, starting with what it is and why it’s so critical to the future of your organization. Then, we’ll share a few tips on how to get started.
What Is Sponsored Retargeting?
Your association is important because your people are important. There are members in your organization who other organizations would actually pay money to get in front of.
And that’s what sponsored retargeting is.
When one of your members goes to your website to learn more about your upcoming event or to watch educational content on your website, the right technology lets you know who was on your website, how long they were there, and the things that interest them. That’s worth a considerable amount in today’s world.
With sponsored retargeting, you don’t have to share that person’s IP or email or anything personal with your sponsor.
All you have to do is ask a sponsor to send over an ad set and run the ads yourself. Most importantly, you maintain your members’ privacy, but you also get to share your sponsor’s word and gain a new, consistent source of revenue.
What makes sponsored retargeting really stand out from the traditional sponsorship is the ability to reach your people throughout the year and in their daily digital life—instead of only at the big event.
Having their logo on display at your event certainly adds authority for them, but it’s usually in a sea of other logos. Reaching people in the middle of their day-to-day life is priceless.
And if you’re using the right platform to launch their ads, you can send partners easy-to-read live dashboards, showing impressions, clicks, and all the key data your partners need to know about the campaign and its success.
Why Is Sponsored Retargeting Important for Associations?
We hinted at it above. The traditional model for associations has been a two-pronged approach: Sell memberships and then sell tickets. But the three-legged stool is more stable, which is why you should consider adding sponsored retargeting to the mix.
By adding a consistent source of revenue, you’re taking the pressure off the event and membership teams. And you’re able to bring in revenue throughout the year instead of having to wait until that big event to know if you’re going to meet your annual goals.
RAM, the Restaurant Association of Maryland, recently worked with Feathr to find new revenue through sponsored retargeting. Their marketing and communications coordinator said this about the program: “We want to increase RAM’s value, but we also want our partners to be able to increase their value. And Feathr plays the role of connecting them with our community.”
This is the real magic of sponsored retargeting. You’re getting to connect your people with each other. And it certainly doesn’t hurt that your organization is making money in the process!
Sponsored retargeting is a great idea for a lot of businesses. But when your organization is built around the idea of collecting a group of like-minded people for a shared purpose, you’ve already done the hard work that sponsors want to leverage. So don’t let a good membership go to waste!
How to Get Started
This is always the hardest step. It’s fun as an idea, but then it’s time to get to work.
And it all comes down to the software platforms that your organization is using. If your current software stack doesn’t allow for sponsored retargeting, then it’s something you may want to consider adding on.
But if you do have a platform that makes sponsored retargeting easy, then it’s worth launching today.
Here are the three biggest steps in bringing your sponsored retargeting program online:
- Define the timeline. Are ads displayed pre-event, post-event, or all throughout the year? It may be easier to start with a pre-event or post-event campaign, but long term, it’s incredible when you can add revenue every day of the year.
- Decide on price. You can charge either by impression or click, but it’s always easier to start by selling impressions. And don’t sell yourself short. Data is gold in the digital age, so yes, give your partners a steal, but make it count toward your bottom line too!
- Sell your sponsors. Let your sponsors know about the opportunity and see who bites. This is always the hardest part; but think about the value that you’re offering them and lean into that with confidence.
Feathr recommends that you start with something closer to a one-size-fits-all packaging structure. This is going to make it far easier for a sponsor to jump onboard quickly. But flexibility can certainly be part of the conversation—actually, it’s almost always a prerequisite for conversation.
If you want to learn more about the details of setting up your sponsored retargeting program, this starter kit is a great resource.
And if you’re ready to jump into the world of sponsored retargeting, schedule a demo with Feathr to see if it’s the right tool for your association.
