Are you a fan of “ripped from the headlines”? There’s a whole genre based on this… from crossword puzzles to Jay Leno’s old late night segments to plots for TV dramas. They always catch my attention.
That’s why I wanted to share today’s Minneapolis Star Tribune business story (‘Target Slams Brakes on Indycar Sponsorship’) with you. This “ripped from the headlines” case study may help you explain to board members, staff or others the difference between philanthropy (grants and gifts) and sponsorship (marketing). Many schools and education nonprofits are very aware that Target Corporation has changed its policy of awarding 5% of customer purchase value to schools and instead focuses now on wellness. Today’s newspaper explains the switch “aligns with one of its strategic merchandising priorities.”
“The decision is … about injecting some newness around our approach to sports marketing.”
“Companies are being more strategic these days when it comes to sports sponsorships, making sure they align with the audience they want to reach and that they are getting a return on their investment.”
“Maybe they feel like that’s not their core customer anymore.”
You and I have talked about these concepts before. Feel free to pass along the article (scans attached, underlining and highlighting are mine) if you think others in your organization would like to see it as a case study. And feel free to email firstname.lastname@example.org if you’d like to discuss.