BIG NEWS: The corporate giving landscape is changing.
Ok, you already know this, don’t you?
We are all becoming more and more familiar with the changes in corporate giving. And as we all try to adjust to these changes, The Arts & Business Council of Miami is keeping arts groups up-to-date.
February 28th marked the second workshop of the Miami Arts Marketing Project. The Arts & Business Council of Miami featured a panel of speakers who shared a breadth of knowledge on the beloved topic, Corporate Giving and Sponsorship.
Over 50 arts groups in attendance joined in “surveying the land” to find out just what corporations are looking for.
Featured speakers Suzanna Valdez, Adrienne Arsht Center and Brandy Upright Truex, Upright Marketing Solutions, gave us tips on transforming sponsorships into partnerships.
“Businesses want to know if you have a relationship with their ‘ideal client,’” Upright-Truex said, “make sure you are communicating your reach and audience to your potential sponsor. She also discussed 7 tips for building relationships with new sponsors. We will feature those in a future blog”
A panel discussion followed featuring Jeff Dinetz of Lincoln Financial Radio, Lyn Farmer of Miami Wine & Food Festival, Sonia M. Terboss of Creative Connection, Pati Vargas of Cultural Viernes/Cultural Fridays, and Mark Trowbridge of the Coral Gables Chamber.
The traditional approach to potential funders has changed as a direct result of the economy. The new ask requires that you give the potential sponsor a ‘what’s in it for my company’ including networking connections, marketing opportunities, access to community leaders and valuable partnerships.
“I think decisions are being made differently these days,” noted Mark Trowbridge of the Coral Gables Chamber. “Yesterday I met with a bank to discuss partnering and all four people I met were from the marketing department trying to figure out how the relationship fit into their brand positioning.”
The speakers and panelists encouraged attendees to view their organization as being a marketing avenue for businesses to engage consumers and show them how their audience can reach their target market. Pati Vargas talked about the partnership Cultural Viernes has with the Coca Cola Company. “Coke wants tasting opportunities. We reach the Hispanic consumer and they want to try their products. We provide them access and they provide us with product and resources.”
“[The] arts are perceived as being a very innovative creative pursuit, but if we can’t make what we’re doing relevant to the business community then that is not really innovative,” said Lyn Farmer. “We have to persuade and educate businesses executives as to the value of what the arts are doing.”
The days when businesses readily gave funds to organizations just because they were non-profits are gone. Everyone wants and needs ‘more bang to their buck’ today.