Dream Green; Soap Box Shifts Strategy
In a last ditch attempt to recoup lost sponsorship dollars, more and more properties are making over their value proposition to read more like cause marketing than traditional sponsorship.
According to a USA Today article, the All-American Soap Box Derby is the latest.
According to the article; the Derby which in the past has been title sponsored by the likes of Chevrolet, Goodyear, Home Depot and Levi's; has sent out 400 proposals for the $250K title to no avail.
Like other properties, the Derby is now turning to a green theme.
From USA Today:
The derby is considering adding categories beyond downhill racing for high school and college students. There could even be uphill races for wind- or solar-power vehicles created by older students, he says.
In February, a Performance Research survey revealed that 41% of Americans said companies should increase their spending on cause marketing, compared with 13% who said they should increase spending on sports sponsorships.