Festive Season World Cup: A Boon for Brand Marketing Strategies?

Every year, companies allocate substantial budgets for the "festive season," spanning from August to December in India. This year, the festivities are exceptionally joyous as they coincide with the commencement of the ICC Men's World Cup 2023 on October 5.

The majority of marketing efforts are focusing on the festive season, but the question looms: how will the simultaneous World Cup affect their quest for the best return on investment?

Experts believe that the World Cup presents an unparalleled opportunity to reach a global audience and that even if it impacts festive budgets, the benefits will outweigh any drawbacks.

Recalling the intertwining of sports events and festive seasons, R. Venkatasubramanian, President of Investments at Havas Media India and Managing Director of Havas Play, emphasized that such synchronicity is not unprecedented.

Certain industries, including automobile, finance, beverages, mobile, consumer durables, gaming, and e-commerce, traditionally invest in sports like cricket and ICC tournaments. Additionally, sectors like FMCG and consumer durables are expected to explore alternative avenues.

Venkatasubramanian asserted, "Each brand will craft festive communication campaigns that can leverage cricket or other networks based on their campaign objectives. The ICC World Cup will undoubtedly leave a significant impact in India, being the host nation."

Vishal Chinchankar, CEO of Madison Digital & Madison Media Alpha, expressed optimism about the forthcoming festive season, anticipating increased advertising activity. He stated, "This is a significant moment for advertisers, with both television and digital media already poised for increased spending during the festive season, combined with the World Cup in 2023."

Srinivas Rao, Chief Investment Officer at Wavemaker India, underlined the advantages of a sporting event like the World Cup coinciding with the festive season, offering brands additional avenues to reach their media objectives.

Jyothi Jadhav, Vice President of Strategy & Insights at dentsu X India, indicated that major brands would capitalize on the World Cup. She observed that larger companies would allocate a greater share of their budgets to cricket, while smaller brands might prefer digital channels during the tournament.

Beyond the festive season, experts stressed the potential of a global event like the World Cup for brands to convey their narratives, harnessing the influence of sports and its enthusiasts.

Vidur Naik, Managing Partner of TCM Platform, emphasized that the World Cup in India presents an incredible opportunity for brands to ride the wave of a global sports celebration. He also highlighted the potential for innovation in media, including new-age generative AI and Metaverse opportunities to break through the advertising clutter.

Reflecting on the Indian Premier League (IPL), Venkatasubramanian acknowledged its historical success for advertisers but noted a less favorable outcome in 2022 due to various factors, such as an expanded team roster and limited match locations.

However, concerns about the World Cup meeting a similar fate were dispelled. Venkatasubramanian noted that the ICC World Cup is expected to be a significant event, with many brands already onboard and others actively exploring participation.

Jadhav raised concerns about the bifurcation of media rights impacting brand investments, citing the uncertainty surrounding IPL 2022. Nevertheless, she emphasized that the World Cup is a unique occasion, occurring once every four years, and presents an opportune moment for brands to create a lasting impact.

With 48 matches spanning the entire festive period and India hosting the event, experts are confident that this season will outshine the previous year. Venkatasubramanian concluded optimistically, "India's recent victory in the Asia Cup has raised high expectations for Team India's performance in the ICC World Cup. With such high anticipation, matches are expected to draw impressive TV ratings, ensuring brand messages reach a vast Indian audience."