💡The IPL Opportunity

Hello Hello Hello,

IPL season has taken over the country. Isn’t it?🏏

Fans going crazy. From packed stadiums to lively living rooms, there’s no other festival like this.

And let's not forget about the businesses that thrive during IPL season.🫡

From Street vendors to Big Retailers, everyone wants a piece of the action, making IPL frenzy the perfect opportunity to encash a massive viewership.

And with the 16th season of IPL already underway, let’s look at some of the Googly balls that retailers can play to clean bowled their customers into buying:

Let’s start the innings:

💹 Indian Number Leagues: Stats behind the Stumps

Behind every thrilling match of the (IPL) lies a wealth of fascinating statistics.

Let’s look at some numbers:

• 19 startup brands are participating this year!
• 80-90% of Retail Sports merchandise sales come from IPL merchandise
• Total advertising revenue that IPL generates is around 3000 Crore INR offering a massive opportunity for brands to reach a huge audience
• FICCI has reportedly quoted the economic impact of the IPL to be valued at INR 11,500 crore
• Food & Beverage industry witnesses a 20% spike in sales every year during IPL

Needless to say, IPL season is a unique opportunity for retailers to capitalize and drive sales. Here’s how:

🖐🏽4 ways Retail Brands can turn the 1.8 crore Viewership into Potential Customers:

1/ 🏏Offer exclusive rewards for loyalty program members:

Incentivize loyalty program members with IPL-related rewards to keep them engaged with the brand during the IPL season.

For Eg: Tanishq ran IPL-themed promotions exclusively for their loyalty program members; offering them a chance to win free gold by participating in IPL activities.

2/ 🏏Send personalized communications to customers:

Send targeted email & SMS campaigns that feature IPL-themed promotions & customize discount coupons based on IPL matches.

For Eg: Zomato & Swiggy offers IPL-based discount coupons to lure & encourage customers to order.

3/ 🏏Use gamification to drive engagement:

Create an online or in-store (Omnichannel) gaming experience that allows customers to win prizes or discounts.

For Eg: Shoppers Stop's 'IPL Fan Quiz' challenges users to answer trivia questions about the IPL and win Shoppers Stop vouchers and other prizes.

4/ 🏏Offer Limited Edition “Gift with Purchase”:

Provide free IPL-themed limited gift on a purchase of product bundles. This will encourage customers to purchase multiple items and increase overall spending.

For Eg: Fastrack created a limited edition IPL-themed watch collection that was offered to customer shopping above a certain amount.

Retailers can use these strategies to lure in customers because remember, IPL may only last a few weeks, but the customer can pay off big time long after finals too!!🤷🏽

📚Story of the Week: CRM vs Loyalty: Are These Two Any Different?

Two concepts that play a significant role in retail for creating lasting relationships with customers are often seen used back: CRM and Customer Loyalty. A lot of marketers get confused between the two!🤦🏽

Our latest blog will help break the tension and bring some clarity. Read: << CRM vs Loyalty: Are These Two Any Different? >>

That’s all for today Cricketers!

Which team you’re supporting in this IPL? Let me know by replying:

Until next time!