Advertisers Set To Swing Big During Cricket World Cup 2023 And Festival Season
As the anticipation for the ICC Men’s Cricket World Cup 2023 reaches a crescendo, marketing luminaries at the Pitch CMO Summit in Bengaluru echoed a resounding sentiment on Friday: the convergence of cricket's fervour and India's vibrant festive season presents an unparalleled opportunity for advertisers to hit marketing gold.
Krishnarao Buddha, Senior Category Head – Marketing at Parle, said he sees immense value in the confluence of the ICC Men’s Cricket World Cup 2023 and India's festive season for advertisers. Recognising cricket's religious fervour and the World Cup event's return to India after 12 years, Buddha said he views it as a bonanza. The occasion offers a prime platform to enhance brand equity and image while driving sales. This synchrony, combining a cherished sport and festive spirit, will ignite enthusiasm, making it an opportune moment for advertisers to make a lasting impact on audiences and achieve significant brand success, he emphasised.
“The World Cup coinciding with festive season definitely is going to help a lot of brands achieve a huge delta. So not just in terms of sales, but also on several other brand parameters like image and equity getting enhanced. Overall, I am extremely excited and looking forward to this event,” said Krishnarao Buddha, Senior Category Head – Marketing at Parle.
Pawandip Singh, Vice President – Marketing, Rapido, exuded great excitement for the Cricket World Cup happening in India too. He emphasised the immense value in the emotional connection Indians have with cricket, and likened the World Cup to a festival which would soon embrace all other festivals around Diwali.
Singh expressed great optimism about India's chances to win, given historical patterns. He highlighted the event's positive impact on Rapido’s metrics, with awareness, consideration, and search activity increasing by 1.8x to 2x. He noted that app downloads surge by 35 per cent to 50 per cent during World Cups and other cricketing events such as IPL, indicating strong engagement.
Singh also emphasised that the enduring loyalty of customers acquired during cricket events and deemed it the perfect time for impactful advertising, driven by profound audience affinity and long-term resonance.
"Our lifetime consumer track studies have shown that the people who have joined us during World Cup or during IPL, have stayed with us. So, I think it is absolutely the best time to be on air and on tv," said Pawandip Singh, Vice President – Marketing, Rapido.
Emphasising on the television’s potent reach, MK Machaiah, Chief Client Officer & Office Head – South India, Wavemaker, cited 830 million individuals aged 2 and above, and 650 million aged 14 and above. He noted the imminent Cricket World Cup's extensive coverage, estimating 80-90 per cent accessibility via Doordarshan and paid channels. Comparing TV's scale, nearly twice that of digital screens, he underscored its unparalleled potential to engage the masses. Machaiah highlighted TV's branding efficacy, often preferred by marketers for its impactful reach in creating brand awareness and recognition among the wide audience.
"Considering branding spends, around 48 per cent to 50 per cent target traditional media, 25 per cent to 28 per cent is allocated to digital, and 20 per cent to 22 per cent covers other mediums. The largest reach comes from TV, making it a prime platform for advertisers. This is particularly relevant for emerging digital-first brands that may not currently have the capacity to service a vast audience. Such brands, already enjoying substantial penetration, can leverage TV's extensive reach for impactful branding," said Machaiah.
Poulomi Roy, Chief Marketing Officer at RSH Global, discussed the impact of the Cricket World Cup from a branding perspective. She highlighted that brand associations with such events offer various benefits tailored to different brands.
She said that for the brand like "Joy", an Indian skincare brand, raising awareness is crucial, and the World Cup's broad appeal could help achieve this quickly. Roy explained that an association with the World Cup significantly boosts brand awareness across diverse target groups, irrespective of age or gender. Roy emphasised that the immediate recognition of the brand is the primary goal, followed by communicating product details.
"Whether it's a 14-year-old girl, boy, man, woman, or anyone within our target age group, our goal is for them to immediately recognise 'Joy' as a skincare brand. This association accelerates brand awareness. The Cricket World Cup spans diverse demographics and can help us swiftly convey our brand identity and products. Such partnerships offer unique opportunities for brands to achieve their specific goals," said Roy.
She noted that every brand can leverage such an association based on its specific goals, acknowledging the emotional significance and widespread excitement surrounding the event.
With insights shared by industry leaders from Parle, Rapido, Wavemaker and RSH Global, it is evident that the forthcoming World Cup, coupled with the cultural jubilation of the festive period, has ignited an optimism among marketers. The stage is set for a dynamic synergy that promises to amplify brand equity, ignite audience enthusiasm, and propel sales to soaring heights in the coming months.
