Looking to cash in on the cricket fever after India's World Cup win, corporates are lapping up advertising spots in the forthcoming IPL, with the likes of Tata Motors earmarking a Rs 30 crore (Rs 300 million) spend for the tournament.
Even the country's largest carmaker Maruti Suzuki India which has traditionally stayed away from IPL is encouraged to spend money this time on the T20 tournament, after the success of the World Cup.
Not only big corporates with deep pockets are loosening their purse strings. Even companies like Paragon Footwear and water heaters and voltage stabilisers maker V-Guard are getting ready to splurge on advertisements to grab eyeballs during the IPL telecast.
According to industry sources, homegrown auto major Tata Motors is understood to have earmarked a budget of Rs 30 crore (Rs 300 million) for advertising during the IPL matches on sub-continental broadcaster SetMax.
When contacted, a Tata Motors spokesperson declined to divulge the company's advertising budget for the IPL, but said: "The company has booked spots to advertise as an entity for both passenger vehicles and commercial vehicles."
Commenting on Maruti Suzuki's plans for the IPL, Maruti Suzuki India Ltd Chief General Manager Marketing Shashank Srivastava said: "We have had a good experience in the World Cup, where we spent about Rs 30 crore (Rs 300 million).
After India's win there is a lot of interest in cricket. We could get good returns on it." He said the company will finalise its marketing plans for IPL in a couple of days.
"Our ad spend on cricket has been traditionally high and about 30 per cent of our budget goes into it. Our investment in the World Cup were fulfilled," he added.
The company had advertised mainly for its new sedans Kizashi and SX4 diesel. Meanwhile, Tata Motors is going a step further in its association with the IPL by becoming an associate partner for passenger cars with the Delhi Daredevils.
"This is an extension to our association with the JiyoDilli Festival and to support the spirit of the city of Delhi," the spokesperson said.
The company is also talking to other IPL teams to become associate partners for commercial vehicles too, he added.
Others are not far behind. Footwear-maker Paragon is increasing its marketing spends by 40 per cent this year compared to last year on account of plans to advertise during the IPL.
"Cricket promises larger consumer engagement compared to any other format. It is for the first time that Paragon has decided to buy spots in a big way for IPL season four," Mudra Max Associate Vice-President Gopalakrishnan Nair Gopi told PTI.
Mudra Max is the media buying agency for the company.
Gopi, however, did not specify the company's ad budget. Another Mudra Max client, V-Guard, is also for the first time sponsoring the 'Extra Innings' analysis during every match of the IPL.
"Sponsoring the extra innings is another way of making the presence felt on a big property like IPL. It is cheaper than buying ad spots in terms of financials and also attracts eyeballs," he said.
Even camera-maker Nikon is for the first time associating itself with the IPL. The company, which has earmarked Rs 120 crore (Rs 1.2 billion) on its overall marketing activities this fiscal, will be spending significantly on TV advertisements.
While the company has not disclosed its TV ad budget, according to Nikon India GM (Imaging) Sajjan Kumar, the camera-maker will be spending 30 per cent of its TV marketing budget this year on the IPL.
The company had recently roped in Bollywood actor Priyanka Chopra as its brand ambassador.
