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!