How is IPL making money?
IPL and its brilliant marketing strategies.
The ever-famous Indian Premier League, popularly known as the IPL is the time of the year that appeals to all cricket fans across the globe! With players doing their magic and winning more hearts than matches, the tournament is at an all-time high for the players, fans, and the marketeers. With an immense audience, IPL proves to be the perfect opportunity to put forth one’s business and gather the spotlight. From sponsorships to brand integration, advertising, and endorsement by the players the marketing game knows no bounds!
To give it a deep thought, the IPL in itself is a marketing strategy. The way every little event, every entity is strategically and skillfully planned and executed shows the potential as well as the effectiveness of the same. How jerseys are designed to perfection keeping in mind the color palette, motto, comfort, and brand collaborations, it all seems almost seamless. Specifically speaking about India, the audience covers all age groups and their enthusiasm is the proof. With this “too good to be true” opportunity, the marketing game leverages to every possible extent. The inclusion of celebrities, influencers, and social media is an added advantage to brands to develop innovative and interactive ways of advertising as well as brand promotions. The IPL network is worth Rs. 47,500 crores and its brand value only keep growing with a rate of 13.5% as of 2019.
IPL gives portfolios of Title Sponsorship, Official Partnership, Umpire Partnership, and Official Strategic Timeout Partnership for the entire tournament. While, individual teams also have different portfolios of Title Sponsorship, official Partnerships, Principal Sponsorships, and other miscellaneous portfolios like Fashion Partnership, etc. Celebrity owners also prove to be influential factors while deciding upon collaborations. The brand value of a team increases due to the presence of eminent players or excellent team performance records as well as due to franchise owners and regulators. Major brands that have collaborated with IPL include Coca cola, Vivo, Cred, Myntra, Boat, Dream 11, Kotak, etc.
With a viewership of over 105 million, IPL is indeed a great opportunity for a business looking forward to promoting its products. The highlight of ads in IPL includes one’s favourite players in different avatars. Don’t forget to let us know your favourite players/ads in the comments below!
