‘Live Sports allows brands to have meaningful impact’
A panel discussion by Atit Mehta of BYJU’S and Sai Narayan of PolicyBazaar Group spoke about how live sports was allowing marketers to increase brand awareness
Undoubtedly, advertising and marketing companies have seen great strides over the last decade. The second edition of the e4m TV First Conference saw a conversation that is perhaps the most crucial in the age of new communication and marketing technologies.
The event saw a panel discussion on live sports, marketing and the benefits to brands.
Chaired by Ruhail Amin of Businessworld, on the panel were Atit Mehta- Head Marketing- BYJU’S, and Sai Narayan, CMO, Paisabazaar (PolicyBazaar Group).
Opening the discussion, Amin asked the panellists - what is that key thing that creates an interest of marketers to invest in the sporting platforms?
To begin with, Narayan replied, sports marketing is not a new thing in India. Marketers, across the world, find sports especially cricket as a lucrative platform to connect with the audience since always.
As the CMO of Paisabazaar, Narayan said he had experienced that their product is quite different and people don't buy it easily. It takes a lot of effort to convince them to take loans and buy policies.
However, live streaming allows brands to have more meaningful, impactful and memorable interactions with customers, he asserted. If you want to build your brand on sports, consistency is very important to achieve a certain goal in mind. It gives you an incremental audience.
Discussing the importance of advertising in live streaming, Narayan said, “If there were no live sports we might not have reached 40 million monthly users on Paisabazaar and 30 million monthly users on Policybazaar.”
Further, he also highlighted that among all the sports, Indians have a special corner for cricket. Thus it has always been the most lucrative sport for brands too.
“Now we are very excited about the Women's World Cup. We want maximum eyeballs at low cost. Last time we were late but it did very well for us,” said Narayan.
“Building a brand on sports require courage and patience,” said Mehta.
Asked how he sees this live sporting platform, Mehta said, definitely the on-ground advertising is a perfect way to catch eyeballs but at the same time, ad-breaks during the match also creates a magnificent impression among audience.
While discussing advertising during live streaming, Mehta said, during interesting up-downs on the ground, and ad-break appear as a reliever for the viewers and thus it gets great attention.
After all BYJU’S was one of the key sponsors of ICC World Cup 2019. It's the only brand who spent heavily on advertising during Cricket World Cup 2019.
Mehta revealed that after 4 years of consistently spending on Live Sports, the friction of selling e-learning concept is coming down. On match days a total number of app downloads jump 8x to 10x.
However, smart brands know that paying for television ads that consumers will rarely see is no longer the smart move in advertising. Live streaming provides brands with the ability to be seen by thousands without having to prepay for advertising airtime, said Mehta.
In compliance, both the panellists concluded that Live sports are allowing marketers to increase brand awareness, connect with their audience, reduce marketing and advertising cost as well as help brands to share their stories.
The e4m TV First Conference was supported by Zee TV.
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