I love it when an investment pays off! That’s when a property shows a prospect how they can build their brand, drive traffic, or whatever the goal—and it happens. This is what success is all about. One of the great things about naming a building or property is the alignment that comes with it. You invest in that property to put your name on the building because you either want to be recognized and associated with that building/property (ride on their coattails) or you want to create greater brand awareness overall and this is just a vehicle for it. Or, you may be trying to achieve both.
We urge our brand clients who are thinking of making a naming right investment to consider all the elements—even if remote. We help them understand and consider all such situations. When you put your name on a building, you eventually will be considered (if the investment is doing its job) the “owner” of that building. This is important to understand when you make such an investment. Several years ago, I remember Richard Gotfried (now an Member of the Legislative Assembly in Alberta) when he was still working with Trico Homes, telling me about the phone call he got one day. Richard had negotiated the building naming rights on behalf of Trico Centre for Family Wellness in Calgary. Several years after the naming had been in place, he got a call on a snowy morning. The lady wanted to tell him that she almost slipped on the ice at the entranceway and that he should get that tended to ASAP. Richard told me he almost said to her that she was talking to the wrong person—that they just named the building and she wanted to talk to the folks at the Centre, not to Trico Homes the builder, when it clicked for him. This was why he paid all that money—to be so intricately associated with the Centre for Family Wellness that people would think it was theirs! It had worked. He told her he would get right on it. Then he called the general manager at the Centre who took to fixing the problem.
Recently on Vancouver Island, a similar thing occurred. It was in Duncan, BC where there is a large hockey facility named by a local credit union called Island Savings, a division of Frist West Credit Union. Hence, the building (with the big hockey stick out front) is called Island Savings Centre. This summer, adjacent to the facility, a very large maple tree had to be removed. It was a decision by the City of Duncan, North Cowichan Regional Municipality and the Cowichan Valley Regional District which together through a commission jointly manage the Island Savings Centre. The removal of the tree raised great public debate and conflict. And of course, because the building was named Island Savings Centre, the credit union was taking the brunt of the negative feedback about the removal of the tree. It was so bad that the Island Saving Centre Commission had to issue a press release to clarify the situation. It is below:
Sent: Wednesday, August 10, 2016 3:08 PM
Subject: News release – Island Savings’ Sponsorship for Naming Rights, Not Operational Decision Making
Island Savings’ Sponsorship for Naming Rights, Not Operational Decision Making
Duncan, BC – Since the decision was made by the Island Savings Centre Commission to remove the large maple tree on James Street, some opponents have been voicing their concerns to staff at Island Savings branches.
The decision about the future of the maple tree was made by the Island Savings Centre Commission, which is made up of elected officials representing North Cowichan, Duncan and the Cowichan Valley Regional District (CVRD), with no input from the Island Savings division of First West Credit Union.
“Island Savings has delivered significant financial support to the community through their sponsorship of the community centre,” says John Elzinga, General Manager Community Services. “They have done so without influence over program, service or capital project decisions.”
The funds associated with the credit union’s corporate sponsorship are stewarded by both the Island Savings Centre Commission and the CVRD, neither of which include representation from Island Savings.
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For more information, please contact:
John Elzinga,
General Manager, Community Services
When sponsorship works, you have to take the good with the bad. Congratulations to the municipalities which, through the commission, stepped up to clarify the scenario. But truly, the investment worked. People clearly know that Island Savings is associated with the building where they come to see hockey and more take place!
© 2016. All rights reserved.