IPL 2023
The Indian Premier League (IPL 2023) is one of the most popular sporting events in the world, with a massive fan following in India and around the globe. This makes it a prime target for businesses looking to reach a large audience and promote their brands. In this article let us study the business angle of IPL 2023.
There are many ways that businesses can sponsor the IPL. Some of the most popular sponsorship options include:
- Title sponsorship: The title sponsor is the most prestigious sponsor of the IPL, and their brand is prominently displayed throughout the tournament.
- Official partner sponsorship: Official partners have their brands associated with the IPL through a variety of channels, such as on-screen branding, in-stadium advertising, and digital marketing.
- Team sponsorship: Teams can also be sponsored by businesses, with the sponsor’s logo appearing on the team’s jerseys and other branding materials.
- In-match sponsorship: Businesses can also sponsor specific in-match elements, such as the strategic timeout, the powerplay overs, or the man of the match award.
How sponsoring the IPL 2023 helps businesses
There are many benefits to sponsoring the IPL, including:
- Brand awareness: The IPL is watched by millions of people around the world, so sponsoring the tournament is a great way to increase brand awareness.
- Brand image: The IPL is associated with excitement, glamour, and success. Sponsoring the tournament can help businesses to create a positive brand image.
- Customer engagement: Sponsors can use the IPL to engage with their customers in a variety of ways, such as through social media contests, in-stadium promotions, and exclusive offers.
- Sales and revenue growth: Sponsoring the IPL can lead to increased sales and revenue for businesses. This is because the IPL provides businesses with a platform to reach a large number of potential customers and promote their products and services.
Some examples of how sponsoring businesses have used the IPL
Here are a few examples of how sponsoring businesses have used the IPL to their advantage:
- Dream11: Dream11 is a fantasy sports platform that is the official partner of the IPL 2023. Dream11 has used the IPL to increase brand awareness and customer engagement. For example, Dream11 runs social media contests during the IPL and offers exclusive discounts and offers to its customers.
- CRED: CRED is a credit card bill payment app that is also an official partner of the IPL 2023. CRED has used the IPL to promote its credit card bill payment service and to encourage people to improve their credit scores. For example, CRED runs ads during the IPL that feature famous cricketers talking about the importance of having a good credit score.
- Tata Group: Tata Group is the title sponsor of the IPL. Tata has used the IPL to promote its various brands and businesses. For example, Tata Motors uses the IPL to promote its cars and SUVs.
Conclusion
Sponsoring the IPL 2023 is a great way for businesses to reach a large audience, increase brand awareness, and boost sales and revenue. The IPL 2023 is a prestigious tournament with a massive global following, and businesses that sponsor the IPL can benefit from its popularity and reach.