Corporates get ready to splurge on ads during IPL
PTI April 5, 2011Looking to cash in on the cricket fever after India's World Cup win, corporates are lapping up advertising spots in the forthcoming IPL , with the likes of Tata Motors earmarking a Rs 30 crore spend for the tournament.
Not only big corporates with deep pockets are loosening their purse strings. Even companies that make water heaters, voltage stabilisers and other electrical products, like Paragon Footwear and V-Guard, are getting ready to splurge on advertisements to grab eyeballs during the IPL telecasts.
According to industry sources, homegrown auto major Tata Motors is understood to have earmarked a budget of Rs 30 crore for advertising during the IPL matches on sub-continental broadcaster SetMax.
When contacted, a Tata Motors spokesperson declined to divulge the company's advertising budget for the IPL, but said: "The company has booked spots to advertise as an entity for both passenger vehicles and commercial vehicles."
Besides booking ad spots on Set Max, Tata Motors is going a step further in its association with the IPL by becoming an associate partner for passenger cars with the Delhi Daredevils.
"This is an extension to our association with the JiyoDilli Festival and to support the spirit of the city of Delhi," the spokesperson said.
The company is also talking to other IPL teams to become associate partners for commercial vehicles too, he added.
Others are not far behind. Footwear-maker Paragon is increasing its marketing spends by 40 per cent this year compared to last year on account of plans to advertise during the IPL.
"Cricket promises larger consumer engagement compared to any other format. It is for the first time that Paragon has decided to buy spots in a big way for IPL season four," Mudra Max Associate Vice-President Gopalakrishnan Nair Gopi told PTI.
Mudra Max is the media buying agency for the company.
He, however, but did specify how much the ad budget of the company was.
Another Mudra Max client, V-Guard, is also for the first time sponsoring the 'Extra Innings' analysis during every match of the IPL. "Sponsoring the extra innings is another way of making presence felt on a big property like the IPL. It is cheaper than buying ad spots in terms of financials and also attracts eyeballs," Gopi said.
Even camera-maker Nikon is for the first time associating with the IPL. The company, which has earmarked Rs 120 crore on its overall marketing activities this fiscal, will be spending significantly on TV advertisements.
While the company has not disclosed its TV ad budget, according to Nikon India GM (Imaging) Sajjan Kumar, the camera-maker will be spending 30 per cent of its TV marketing budget this year on the IPL.
The company had recently roped in Bollywood actor Priyanka Chopra as its brand ambassador.