Post World Cup High, Expectations Surge From IPL 2024
Cricket in India is an emotion that resonates in every corner, embodying the spirit of unity, pride and collective joy. In 2024, two key cricket tournaments, the T20 World Cup and the Indian Premier League (IPL) 2024 are set to take centre stage, fuelling heightened expectations in the marketing domain.
The recently concluded ICC World Cup which took place from the beginning of October to mid-November 2023 not only enthralled cricket fans worldwide but also paved the way for a strategic shift in marketing approaches as advertisers set their sights on the upcoming IPL 2024.
With record-breaking viewership on over-the-top (OTT) such as Disney+Hotstar during the World Cup with 59 million concurrent viewers, marketers are gearing up to leverage this momentum for IPL 2024.
Roadmap To IPL 2024
As the IPL continues to evolve beyond conventional viewership, the roadmap for advertisers in 2024 involves a fusion of digital innovation, personalised content and strategic social media engagement.
Neelima Burra, Marketing & Strategy Transformation Head at Luminous Power Technologies suggests that based on insights from the ICC World Cup 2023, the approach for IPL 2024 could revolve around leveraging digital platforms for marketing and advertising.
She emphasises, "Luminous may prioritise targeted online advertising, social media engagement, and partnerships with streaming services to reach a wider audience." She further adds, "Strategies may also include creating engaging content tailored for digital platforms, emphasising user-generated content, and leveraging influencers and brand ambassadors to connect with fans."
Marketers are well-positioned to capitalise from the immense viewership and engagement leveraging digital platforms for IPL 2024.
Ashish Mishra, Executive Vice President – Marketing, Acko highlights the successful advertising experience during the ICC World Cup 2023 driving demand for their auto and health Portfolio. For IPL 2024, he states, "Most marketers should really evaluate all possible options based on brands growth targets and budgets - TV vs OTT, CTV vs mobile and so on. It's important to weigh them against each other because it has huge implications on your total marketing spend."
Tech for Win
In a bid to elevate the viewer experience and engagement levels, IPL 2024 campaigns are anticipated to introduce innovative approaches and cutting-edge technologies.
Marketers are exploring immersive technologies to offer fans a more personalised and interactive connection with their favourite teams and players.
For IPL 2024, Burra envisions, "We may incorporate innovative technologies such as augmented reality (AR), virtual reality (VR), and interactive experiences to enhance fan engagement in organised retail and ecomm. These technologies will be used to offer immersive experiences, interactive ads, and gamification to capture the attention of the audience during IPL 2024."
Furthermore, the use of advanced data analytics and AI-driven marketing tools will enable a more personalised fan experience for supporters of the Rajasthan Royals and Luminous, facilitating targeted outreach to specific consumer segments with greater efficacy.
Digital Platforms as the New Norm
As consumer behaviour continues to shift towards digital channels, the impact and reach of digital platforms cannot be overstated. The dynamic nature of platforms like OTT services and social media provides an avenue for marketers to connect with diverse audiences, tapping into the expansive cricket fan base.
According to Atit Mehta, Marketing Head at Byju’s, the significance of reaching diverse demographics through various platforms, including CTV, Live Streaming, and Linear TV, has become the new normal in the marketing landscape, especially within the sports and cricketing domain.
With cricket being a universal passion across all age groups, he asserts, "As a marketer, one wants to reach his addressable universe and those addressable universe is available on streaming platforms as well as linear TV. So, it becomes mandatory to create a presence across all platforms."
Mehta shares an instance explaining that the ICC World Cup in 2023, witnessed record viewership and concurrent viewers which served as a testament to the effectiveness of delivering content across multiple platform delivery.
As IPL 2024 approaches, marketers are set to prioritise digital strategies, harnessing the interactive nature of these platforms to forge stronger connections with cricket enthusiasts and enhance brand visibility.
Mishra emphasises, "The debate on the importance of digital platforms needs to end. OTT platforms are here to stay and provide marketers access to a different audience set." He highlights the advantages digital platforms bring to businesses with regional availability, citing the cost benefits of geo-targeting for an efficient and precise reach.
