Here are a few excerpts from “Live chat roundup: What is culture’s value for our corporate sponsors?” by Matthew Caines, featuring the best comments and insights from The Guardian’s May 25, 2012 live chat on corporate sponsorship in the arts and heritage sectors.
You can read the article in its entirety here.
Philip Spedding, director, Arts & Business
Beware of the pitfalls in a corporate relationship: One of the major pitfalls is when the relationship doesn't end up working for the business and/or the arts organisations involved – in our experience this normally comes down to a lack of clarity in either party about what they really want to achieve in the partnership.
Clear objectives are vital, as is openness and trust. The best relationships also have a sense of 'authenticity' about them, where they make sense to those people around the arts organisation or business.
Jennifer Mays, associate director, sponsorship, events and affinity marketing, Coutts
It's not just about arts organisations approaching corporate sponsors: We need to be clear on how sponsorship helps us achieve our business objectives as well, and proactively look for opportunities.
An example is following the government announcements at the end of 2010 regarding drastic cuts to arts organisations – we, as a supporter of the arts, decided to look for ways in which we could help to raise awareness of these organisations due to our long standing support of the sector.
The result was the Coutts Arts Festival, a three evening festival where nine arts organisations performed to an audience in order to raise their profile and possibly win individual supporters.
Barty Mee, deputy head of commercial partnerships, Drum
Partnering with a cultural entity gives brands a point of interest in their respective marketplace: Essentially, this boils down to having something to talk about and, in some cases, a direct benefit to pass on to their customers. There are many varied examples of this but a good one to focus on is O2's sponsorship of the Academy Music Group venues.
By sponsoring the live music venues run by the group, O2 are able to give their customers access to tickets for gigs at each venue 48 hours before the tickets go on general release. This, combined with the more traditional benefits of the naming rights, enables O2 to attract customers in an otherwise commodified marketplace.
*Photo courtesy of Lucy Ku.