Mumbai: During the ongoing ICC World Cup 2023, brands and advertising agencies are strategically aiming for a strong return on investment (ROI). This World Cup is of particular significance as it is being played in India after 11 years. The extended break has prompted a reevaluation of marketing strategies, pushing brands to innovate and adapt to the changing landscape of sports marketing. Through focused campaigns, partnerships, and creative activations, these entities seek to not only engage passionate cricket fans but also make a lasting impact on the global stage.
Excellent Publicity, founded in 2011 by Vaishal Dalal and Manan Joshi, is India's premier advertising agency. It began as a transit advertising agency and later expanded into various offline media. Today, it offers various advertising services, including media planning and buying, social media management, digital marketing, sports marketing, corporate gifting, and influencer marketing. With over 300,000 media options and a network of 10,000 vendors, Excellent Publicity serves businesses in metro cities and tier I and II cities in India, and has set its sights on the Middle East and North Africa (MENA) region, with Dubai as its primary launchpad. The company aspires to become a leading global advertising agency, targeting revenue of INR 125-200 crores within a year and aiming to be listed on BSE NSE in 2029-30, backed by a unique value proposition.
Manini at the age of 17, I discovered her passion for creativity, and her journey began. With a background in Mass Communication and Advertising from Sophia College in Mumbai, she honed her skills in various media formats. Manini later pursued a Master's in Advertising and marketing in Toronto, gaining valuable insights. Currently, she works as a media manager in an advertising agency, specializing in sporting events like IPL and PKL, and also serves as a visiting faculty member, teaching creative brand brief development. Her career is a fusion of her love for creation and effective communication.
Indiantelevision.com in an email interaction with Excellent Publicity strategy director Manini Contractor on the ADEX, spends during the festive and ICC World Cup
Edited excerpts
On the festive season coupled with the ICC World Cup been for the brands in terms of Ad Spends, reach, and ROI
The festive season coupled with the ICC World Cup has been a significant opportunity for brands to increase ad spends and reach a wider audience. Many brands saw a surge in ROI due to increased consumer engagement during this period. Moreover, some brands have strategically aligned their campaigns with cricket events to maximise reach and engagement. The estimated money to be spent by brands during this season is somewhere around Rs. 20 billion, with one 10-second ad spot going as high as Rs. 3 million.
On brands today dividing their spending between TV and digital
Brands are increasingly shifting their ad spend towards digital platforms due to the growing online audience. However, TV remains important, but digital channels offer more targeted and measurable advertising options. The division of spending varies by industry and target audience, with many brands adopting a multi-channel approach.
On ADEX and the brands be stretching their spends
Ad expenditure (ADEX) peaks during major events like the IPL. Many brands plan to maintain or increase ad spending through the 4th quarter to leverage the IPL's massive viewership. Advertisers may allocate a portion of their budgets for specific IPL-related campaigns. Notably, there was a record drop in TV sponsors and rise in Digital sponsors in the 2023 edition of IPL and looking at that it is believed that the tide will go on and IPL 2024 will also see a similar trend.
On brands not depending only on performance but also on traditional mediums
Brands have started to recognise the importance of both performance-based and traditional advertising mediums. Traditional mediums like print and outdoor are still relevant for certain industries and branding efforts. Moreover, many brands are adopting a hybrid approach, combining the benefits of digital performance marketing with traditional brand-building methods.
On the comparison to 2022, to the first half of 2023, and the jump been in terms of Ad spends
The jump in ad spends can vary greatly by industry, with some sectors experiencing substantial growth while others remain relatively stable. Many brands increased their ad budgets in response to changing consumer behaviours and the growth of e-commerce. Specific percentage increases in ad spends would depend on individual brand strategies and market conditions. The first half of 2023 had the biggest sports festival, IPL, which saw an estimated Ad spend of Rs. 6000 crores.
