A wise man once said, channel your money in the direction from where you are expecting loyalty. In a nation that is second to none in terms of cricket-frenzy, trusting the media spends on a premier event can prove to be very fruitful for new companies. In sort of a coup, Chinese mobile company, VIVO has been roped in as the title sponsor for the next (IPL) Indian Premier League.
It is a well-known fact that India eats, sleeps and breathes cricket. And, as a new entrant in the mobile phone market looking to tap the potential of the Indian market, Vivo seems to be heading the right path. Replacing PepsiCo as the title sponsor of the cash-rich IPL, Vivo would be looking to enhance their reach across the Indian markets. According to PepsiCo executives, the recent controversies that had IPL involved maliciously is the reason for their pull-out. But, as the famous saying goes, one person’s loss is other’s gain. Vivo has jumped onto the opportunity to be the title sponsor for the IPL. With a marketing budget of more than 125 crore for the Indian market, Vivo was already termed as the front-runner for the title sponsor race. Other than garnering sky-high TRPs, IPL is one of the most keenly followed sporting events across multiple platforms. With fans in counts of several millions, the event is also the cynosure of all eyes on Social Media and Digital platforms. Vivo will be looking to grab maximum eyeballs across all platforms with the huge announcement. As a brand, Vivo is one of the newest entrants in the Indian Smartphone market. With a market share at just a little over 2 percent, the title sponsorship of IPL can be the much-needed marketing push for the brand. Yes, the majority of spends will be focused on offline activities. However, Vivo will also be focusing on tapping the digital platforms to connect with the young audience that follows IPL on seamless platforms like Hotstar.
Vivo executives did not release any official announcement for the development. However, the breaking story was hugely covered across several print platforms. Courtesy Economic Times, the CEO of a leading smartphone brand, commented, “Vivo may be one of the newest entrants in the Indian market, but it is literally burning money into brand promotion, right from outdoor hoardings to dealer level promotion,” said the CEO of a leading MNC smartphone brand which too entered India recently. “IPL can be a big gamble for them, but they are serious about scaling up distribution and sales in tandem.” Back in China, market leader Xiaomi followed by Huawei and Vivo are giving tough competition to the world’s two largest smartphone makers, Apple and Samsung. As per latest data from market tracker Counterpoint Research, Vivo in the second quarter of this calendar year overtook Samsung to reach the fourth spot in China with Apple in the third spot. Vivo is also among the fastest growing brands in India. It would be interesting to see how the title sponsorship move for Vivo establishes them in the Indian Smartphone market. However, all mobile makers from the same segment will be keeping an eye on the development with a bated breath.