Discovering Community Value in Bank Sponsorships

Discovery Green in Houston is a story of downtown rejuvenation. Formerly a parking lot, it has been converted into a lively hub of public activity complete with a dog run, aquatic marsh for water fowl to gather, public art and free entertainment. Families hang out. Teens toss Frisbees. A clown performed a bi-lingual show for little kids complete with balloon animals. It was a gorgeous sunny day and I soaked it in knowing back home in Chicago its turned cold. I wandered into a free concert sponsored by Capital One Bank that was packed and it inspired this Sponsorship Monday post.

People often ask if bank sponsorship will continue in the crisis? The answer is “yes” they will. Banks need to “keep the faith” with local communities. We will see fewer large scale deals such as naming rights to arenas. But the feel-good family and cultural events that sport lower rights fees and deliver plenty of connection into the community will still have a place in the portfolios of many banks because they deliver so much value.