Gap in the budget? Try these ideas
We've all experienced a time when we've had a gap in the budget. Perhaps a campaign hasn't reached its target or you need to improve year-round cash flow. It can feel overwhelming and a bit out of your hands causing you to create activities that don't align with your business. But please consider this - when did making rush decisions ever lead to great strategic outcomes for your organisation? I would guess, probably never.
Because of this I always build contingency plans into my campaigns. They ensure I don't make decisions based on fear or desperation. It's much better to plan ahead the ways you can turn your campaign around if you don't reach your targets. And if you're not setting weekly or monthly targets then I suggest you stop reading this now and go read about targets here.
Still here? Great! Let's chat budget stop gaps for your partnership campaign. If you need to stimulate extra income in your partnerships program in the next 3-6 mouths-try these ideas:
- Host a partnerships webinar or info session.
A really great way to stimulate some urgent interest is to host an info session. This could be virtual or in-person and is a great, low commitment way for potential partners to get to know you. This is a particularly good tactic if you have something new or specific to talk about. Invite all the organisations who have reached out to you previously and invite them to attend a lunchtime session. Let them know what you're going to be presenting on and make sure you've a deck or information that you send them after the presentation. When planning an event like this, ensure there's lots of time for questions and discussions at the end. It can be a bit monotonous when it's just one person talking, so invite a colleague to also present or show a video from the people you've helped. A time sensitive offer or discount at the end is often enough to encourage a timely confirmation.
- Follow Up
Haven't followed up a partner opportunity in a while? Life gets busy and it often slips our mind, but regular follow ups to potential partners you've connected with is a vital part of your partnerships process. So if it's been a while -reach out! Ask if you can catch up and see how their organisation is or if there are any changes or developments. Or mention that you have some new or updated information to give them. Again, a timely offer like a discount or upgrade will create a strong call to action that can help close the deal faster.
- Speaking of upgrade, have you tried an upgrade?
Often businesses come to us but only have a small budget allocated until they trial working together. If you have a business that is loving their current partnership program, why not ask them if they want to upgrade to a higher level partnership.
If you can detail the extra value they will receive and provide a discount for the next month also, it's a great way to stimulate cash flow and more importantly increase partner stickiness.
- Run a Giving Day.
Have you got an important date in your calendar coming up? Could you tie it in to a Giving Day? A Giving Day works best when it is supported by pre-arranged donations from Corporate Partners. To use your Giving Day as an opportunity to reach out to current partners and leads to ask them so support your campaign. They'll love the additional awareness for their support and feel super connected to your organisation after being part of something much bigger and impact related.
Have you tried any of these ideas in your business? I'd love to know what has worked for you.