Corporate Sponsorship in Culture—A Case of Partnership in Relationship Building and Collaborative Marketing by a Global Financial Institution and a Major Art Museum

Purpose: This paper examines cultural sponsorship from a partnership and relationship marketing perspective. It studies a case of how a partnership between two international institutions, a bank and a museum, adds value to both in terms of interaction with customers and breadth of audiences. The paper further points to key aspects of resource integration in a co-marketing partnership.
Design / methodology: The data were generated through an in-depth case study of a sponsorship collaboration between a major global financial institution (UBS) and a multi-site major museum (Guggenheim). The primary sources of data were interviews with key representatives over a 12-month period and direct observations.
Findings: The study explores the role of the sponsorship for both partners. For the bank, the partnership with a major art institution gives access to cultural, symbolic, and social resources, which can add value to and differentiate wealth management services. From the perspective of the bank, the partnership serves to strengthen relationships with key clients by establishing cultural bonds and demonstrating shared values. It also serves to stimulate interaction among clients with a shared interest in arts, and creates opportunities for communication in informal settings. From the perspective of the museum, the partnership supports its international expansion in terms of audiences and acquisitions of art from regions of the world previously underrepresented in its collection. The partnership also helps to expand the network of museum partners and potential donors. A critical element is resource integration between the sponsorship partners. We identify and discuss key determinants of successful resource integration in terms of complementary resource mobilization and internal integration. The paper employs a relationship marketing and service management approach for evaluating corporate sponsorship arrangements.
Originality and value: The study makes a contribution to the sponsorship literature by evaluating how a cultural engagement can be linked to a relationship marketing strategy. It also presents insights from service marketing for the wealth management sector. It further contributes to the understanding of co-marketing partnerships between commercial organizations and non-profit arts organizations.