Long Live the ROI!

In French, roi means king; in English, ROI is king.

Colorado AvidGolfer

A performance measure used to evaluate an investment’s efficiency, return on investment (ROI) carries particular significance when applied to staging charity golf tournaments.

Although many tournaments benefit worthy causes, they often fizzle after a season or two because they just don’t generate enough of a return on the investment of time, effort and money to continue.

The tournaments that always hit the sweet spot are the ones that generate enthusiasm from their organizers, participants and sponsors. In turn, these events generate increasing amounts of money and awareness for the charity.

Like Ben Hogan’s five lessons, here are five fund-raising fundamentals:

1. Know your purpose. First and foremost, your tournament has to have a charity with clear-cut vision that you can passionately communicate. Individuals and corporate sponsors look for something with which to be fervently involved. Make sure your charity has a strong media kit—a DVD or some kind of marketing material with which to impress potential sponsors. Present it personally to the individual or group with decision-making power.

2. Target an amount. There was a tournament in town that was generating less than $10,000 before the 12-person organizing committee decided to move it to a bigger club and set a goal of taking it to $100,000. To reach that objective, the group created a system by which each committee member was required to bring in a certain number of sponsors and dollars. In turn, each sponsor he or she brought in would have a goal of bringing in some of its sponsors. And so on, down the line. It’s something like the multilevel marketing model, with the benefits trickling up to the charity.

3. Find the right people. Some people find it difficult to ask others for money. Some, especially those in sales, thrive on it. The rainmakers for your charity event need to believe wholeheartedly in your efforts, articulate the vision, generate excitement and, above all, have solid contacts in the business community.

4. Don’t confine the experience to the event. It’s all about networking and having sponsors build relationships with each other. Therefore, it’s important to find all the ways to entertain committee members and sponsors before, during and after your tournament. We’re not just talking about a silent auction the night before the event, and an after-golf barbecue, either.

5. Sign up a restaurant sponsor. About eight weeks out, hold a dinner for committee members, sponsors and potential sponsors at that restaurant in exchange for a sponsorship listing. This way, during the event, people are already familiar with one another; they’ll be more relaxed and have a better time. About a month after the event, gather the principal people for another dinner. The goal is to maintain the relationships and, more importantly, the commitment for the following year. You want sustain the momentum generated by the event, build on its success and establish higher goals than the year before.

6. Keep the event top of mind. Send out thank-yous within a week of the event, expressing gratitude and detailing the amount of money raised. Make sure your committee meets monthly to reaffirm commitments and alert participants to save the date for the following year’s event. Regular e-mails to sponsors throughout the year will keep them excited about the charity as well as the event.

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More from the 2016 Tournament Planners Guide presented by GolfSquid.com:

How to Create a Can't-Miss Golf Event

Squid Pro Quo – The site with the odd name is taking over the way people plan golf events.

Keeping it Fresh – When participants see your commitment to making the event fun, they'll come back year after year!

A Course in Charity – As the Sanctuary nears $100 in money raised, here's a list of 2016 tournaments

Long Live the ROI – At the end of the day, how to get the most for your charity from your golf tournament

12 Planning Pitfalls of Golf Tournaments – Avoid these 12 costly mistakes with your next tournament

Register Your Tournament with Colorado AvidGolfer

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Colorado AvidGolfer is the state’s leading resource for golf and the lifestyle that surrounds it. It publishes eight issues annually and proudly delivers daily content via www.coloradoavidgolfer.com.