BP isn’t budging on its commitment to Britain’s art scene. For decades, BP has been a sponsor of the arts. While the brand is mired in sludge from the Gulf disaster, BP knows better than to back out of its arts sponsorship. Why? Because company executives need the love.
Back in the 1980s, BP researched cultural consumers to discover how its arts sponsorships stacked up compared to other marketing investments. What they found shocked them:
1. Cultural consumers were more loyal to the BP brand.
2. The investments were a great value–tuppence on the pound compared to sports sponsorships, for example.
According to a company spokesperson, BP invests the equivalent of $1.5 million U.S. annually in its arts sponsorships. It’s a bargain. In return they’ve earned the loyalty of an influential consumer group.
With their billions now committed to the U.S. clean up, it makes me wonder if they will extend the arts sponsorship effort world wide, slowly and subtly, in an effort to brighten the company’s image. Face it, the whole “green” branding thing is dead as a pelican.