News & ToursMarch 2, 2009

In defense of 'beaten-up banks'

Sports Business Journal takes a long look at sports marketing and why banks who engage in it (i.e. Northern Trust, sponsor of the Northern Trust Open) don't deserve the abuse they've received from politicians. Here's a key quote:

"You've got people condemning this business without an inkling of how it works," said Keith Bruce, president of Omnicom sponsorship and hospitality consultancy SportsMark, which counts Bank of America and The Hartford among its clients. "The one thing we hear from clients is: 'How can we manage all the negative perceptions around this?' We tell them, you have to be prepared to say, 'It works and it's just a part of the marketing mix.' On the surface, it can look suspect to bring 50 clients to a golf tournament, but if those clients generate $100 million more in business, why wouldn't you do it?"

-- John Strege

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