The Art Fund charity transformed its business model, turning a worthy purpose into a profitable one. Indeed, the best way to compete with other charities was not to compete with them at all. Joe Smith and Carolyn Young explain how marketing reframed the charity as a retailer.
The Art Fund charity was established in 1903 and has remained dedicated to its mission of securing works of art for the nation ever since. What has been less consistent over the organisation's history is the business model and marketing strategy to turn its worthy purpose into a profitable one.
In an...