IPL delivers the numbers for brands: Satish Menon, Kings XI Punjab
As part of our series on VIVO IPL 2020, we take a closer look at Kings XI Punjab and the brands that are partnering with them
Yes, IPL fever has set in. The teams are raring to go. The IPL trumpet is already echoing in our heads. The fan pages are setting the stage online. As the countdown to March 29th begins, brands are also ready with their game plan. And why will they not be, after all this is when millions of Indians will tune in to watch their favourite teams play and there is no better platform for brands to leverage undivided consumer attention.
According to a report released in December 2019, by Brand Finance, a leading independent brand valuation consultancy, the business value of the IPL in 2019 hit an all-time high of $5.7 billion. In the report, Savio D’Souza, Director, Brand Finance has been quoted as saying, “This year’s tournament ran up over 330 billion minutes of broadcasting time and logged 300 million viewers into the streaming service over a span of 44 days. The IPL continues to exceed expectations for its players, franchisees, team sponsors, and give a boost to the Indian economy.”
This year’s VIVO IPL is only expected to grow in popularity and is, therefore, an important destination for brands. In the IPL scheme of things, brands are also vying for sponsorship with the teams and that coveted jersey. Today we look at what brand sponsorships Kings XI Punjab has bagged this year and which brand will feature prominently on the Kings XI jersey when they play the IPL matches. Despite a poor show in the past IPLs, Kings XI Punjab this year is being looked at as a frontrunner given the firepower it brings in the form of KL Rahul, Glen Maxwell, Shami and many others. As per the Brand Finance report, the brand value for the franchise has grown by 4% between 2018-19. Kings XI Punjab Jersey sponsorship has increased 25 per cent this year.
CEO of Kings XI Punjab Satish Menon shared with us what it means for brands to partner with the team on their IPL journey in 2020.
But first, here is their list of sponsors:
Title Sponsor: EbixCash
Principal Sponsors: Jio Digital Life, Fena Detergent, Seagram’s Royal Stag
Their partner list is as follows:
Official Kit & Merchandise Partner: T10
Uplifting Partner: Coca Cola
Good Times Partner: Kingfisher
Official Figurine Partner: Cricfig
Associate Partner: Dream11
In October last year Kings XI Punjab announced EbixCash as their title sponsor. The team has a three-year association deal with EbixCash and will be seen on the front of the Kings XI’s playing jersey for the next three seasons of the VIVO Indian Premier League.
Speaking about their association with the title sponsor Satish Menon, CEO, Kings XI Punjab says, “They have come in as a great partner. They bring a lot of value because they are also in various businesses. They have a ticketing division, they have a division which does surface transport. They have a division that handles hotels. So, you know, it's a great rounded partnership that we have formed with EbixCash. It's a great relationship and we are building on it.”
As the IPL cricketing extravaganza gets stronger with every passing year, new brand categories can be seen joining the bandwagon. Agrees Menon, “Yes, EbixCash is a category which is completely new to the jersey sponsorship. They started off by being on-ground with India teams, now they got onto sponsorship of jerseys because you get to leverage the sponsorship much more when you're on the jersey. So, it's a new category altogether.”
Despite the IPL having been around for so many years, Menon believes that the tournament still holds it charisma and is the best place for brands to be in, “If there is any business that bucks the trend when it comes to the recession it is IPL.” Says Menon. He further adds, “It is completely recession-proof, also because it delivers the numbers.”
Telling us more about how brands can benefit by being associated with the IPL and particularly the Kings XI Punjab, Menon says, “What we do is we form partnerships with clients. And we ensure that value is delivered. The value is there for the clients to see. It's about being able to form that association in the manner in which both of us stand to gain and that's been happening over the years. They are not sponsors for us, but partners, we work as partners with them.”
Menon explains that the reason brands are on IPL is because it delivers numbers, the ROI from it is good and they see value in the association.
On their part, he says, “What we do is, when we work with clients, we ensure that the client stands to be able to explore the platform from a business standpoint.”
As far as sponsorships go, the team has already sold all its spots, “We have all nine sponsors. We were first ones to close everything. We normally close everything before December itself.” shares Menon.
The business of brands aside, how well is Kings XI Punjab placed to win the IPL in 2020? “We’ve got one of the best teams I believe, a lot of them feel the same way but I think we've got a very robust team. Starting from Anil Kumble being the head of affairs. He is a very meticulous man for a head coach and Director of Cricket Operations. And you know with KL Rahul in form, Shami in form, Mayank Agarwal in form. Even our two young boys have been under 19 stars. We've got a very good mix of players with experience and players who are just coming on board.”
Well, for the sake of all the Kings XI Punjab fans out there we do hope the team will make this year a memorable one.
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