18 Buckets of Money: Sponsorships
For many people, once they launch a website, they do so thinking that “Ok, now the money will just come rolling in.” Depending upon the business, they may just do very well. But, having spent the best part of the last 20 years working with websites, I can tell you that more often than not, it takes a bit of time. Unfortunately, for many businesses (web or otherwise) the number one reason for failure is under-capitalization. Thus, making money right off the bat serves the long term vision of the business best of all. Because I wanted my customers to do well (and therefore be able to pay their bill), I looked for ways to create alternative revenue streams,
while the core business would grow in the time they needed. Over a period of time, I was able to discover eighteen of what became known as the “Buckets of Money”.
This is column eight in an eighteen column series… so with that said, on with the show.
The dictionary defines sponsorships as: a person or group that provides funds for an activity, esp.
- A commercial organization that pays all or part of the cost of putting on a concert, sporting event, etc
- A person who donates money to a charity when the person requesting the donation has performed a specified activity as part of an organized fund-raising effort
With this in mind, let’s look at some ways to incorporate sponsorships into your website model, and start filling some buckets.
- Section / Title Sponsors – You can set up a title sponsor for your site, you can also set up sponsors on a “section by section” model. By getting to know your audience, and polling them often, you will discover what you have at your disposal. Show the audience that you are listening, and allow that good will reward you with other entities who want to reach that same audience!
- Product Reviews – If your website has the position of being able to review products, you can offer the sponsorship of that area of the website to a company who is interested in tagging along. Use care to be sure that same company does not have an axe to grind in those reviews.
- Recurring Posts – Think of this column. Appearing in another publication, it would only appear if is being paid for by another company to make it available to you. They are paying for that, because they believe you find value in reading this column, and they want their message attached. You can do the exact same thing!
Using these methods as you see fit your situation best, will allow you to grow your revenues and add value to your audience. That
is a win-win scenario.
Stay tuned, the next time we are together, we will get to a look into Memberships!