Every Association has a wide variety of member companies.
One of the most powerful things you can do to “tap” into these different groups is to “slice and dice” them into as many specific “niches” as possible. Once you have done this you can create programs and non-dues revenue projects designed to have a high value to these specific niches.
Let’s use the financial services group as an example. This group can be easily segmented into several specific niches. Under the umbrella of financial services you will find banks, mortgage companies, leasing companies, credit unions, insurance companies, accounting and bookkeeping services and more.
Each of these sub-categories is a niche. Each niche can and should be looked at as unique with its own set of needs. The companies inside these niches also will feel compelled to respond when you recognize them as a special group and give them special attention.
Here is a really simple way to generate non-dues revenue and provide a valuable benefit to one of your financial niches.
Give your next general membership meeting the theme “Banking on a Healthy Building Industry” or something similar. Create a “package” for “banks only” that includes the following (as applicable):
Special seating at the meeting or function (remember the “secret of the blue tablecloth” from “Renegade Retention Secrets” Vol. 1?)
The ability to bring and hang a company banner at the event
Two tickets to the event
Half price tickets for their management and staff
Recognition from the podium
Three minutes at the podium to address the guests
One handout or flyer at each place setting
Their company logo in a “shared” thank you ad in the newsletter before or after the meeting
A database of the attendees to use as a follow up tool
The opportunity to provide a drawing prize and any other tools you can offer
Call the package “Passbook to the Most Powerful, Successful and Influential Business People in the Community”. People like packages -they are easy to understand and place a value on.
Do not call this a “sponsorship”. Companies tend to believe that when they “sponsor” something they are doing it out of support and it is a favor to the Association. That is often true and isn’t a bad thing. In this case though – you have the “carrot”. This is a great opportunity for BANKS to get exposure, develop relationships and ultimately get new customers and clients!
Now, none of the “benefits” above are unique and most have been offered before in some way, shape or form. But, here is the critical difference – THIS IS FOR BANKS ONLY! No insurance companies, accountants, credit unions or mortgage companies can have this package at this meeting or function.
This is an exclusive offer to an exclusive niche. When offered it has to be clear that this package was created to showcase the “BANKS ONLY” niche. When presented as a special marketing tool for a specific niche the perceived value of the “package” will increase to a very high level.
When you make this type of offer to a niche a few things happen.
First, the niche is made to feel special because you are highlighting them and only them.
Second, knowing that you are highlighting their niche they won’t want to be left out.
Third, by making the same offer to all of the banks (and alerting each bank of this) two powerful emotions come into play – fear and greed. If you are highlighting banks at your event and one bank chooses not to participate they may allow all the other banks to get exposure to your members that they will miss out on – that’s fear. On the greed side, just knowing that if they can impress one or two member companies or develop one new relationship they can get a return on their investment several times over will be appealing.
Finally, recognition is one of the most powerful motivators of all. When the bank management knows that they will get specific recognition by participating in your event the odds of them participating and perceiving a high value will go up.
Using the “niche approach” provides a real benefit to the participants. This is a huge marketing opportunity. Where else can they get this kind of exposure and face-to- face access to a specific set of business people (your members) in a relaxed, yet business atmosphere and be the focus of attention?
This is not a donation! They are not “supporting” the Association by participating. This is a direct marketing opportunity that can be compared in value to any other forms of marketing this niche uses.
The value that you put on the investment is up to you – but here is a recommendation – each business person attending your event is a specific opportunity for the participating banks. Take the average attendance of this type of function or event and multiply it by at least five dollars.
If you have an average of 75 attendees charge at least $375 for each participant. Get five banks and generate $1875. If you have 200 attendees charge $1000 for each participant. Get five banks and generate $5000.
I used banks as an example because it’s really easy to provide value to this niche.
The next meeting or function may feature insurance companies only. Call it “Insuring a Healthy Business Environment” and offer the same package.
Look at all your “niches” and create opportunities for each.
Have a section in your newsletter for “plumbers” and call it “Pipeline to a Healthy Building Industry” and create a special size ad with a special price for “plumbers only”.
Designate one hole at your next golf event the “Money Hole” and let all of your accounting members have their logo on one sign. The possibilities are endless when you break your membership into exclusive niches and brainstorm ways to give them real value.
Steps to Success
1.) Make a list of all of your niches breaking them into as many specific categories as possible.
2.) Make a list of all of your events, publications, meetings and programs.
3.) Decide which niches go best with each of them.
4.) Have your events or membership committee brainstorm “packages” for each niche.
If possible, assign a niche to each committee person to contact about the package or require a committee person to go with a staff person when they share the opportunity. This is a great way to get staff and committees to work together and also creates “courage” to actually get it done.
In closing, remember there is no “arm twisting” to get niches to participate. You have the “carrot”. When you market to a niche it is your responsibility to make sure all members of the niche have a chance to participate. You are simply giving them information so they can make a good decision for there business.
In our office when someone says no, we just say “NEXT”.