Social Media : Not Replacement but another way to reach your Customers!

Day by day Social media becomes stronger as its follower increases in many fold per day. Companies can not neglect this social media presence further more, as you have more benefits than normal advertisement and formal way of communication.

Following are the benefits for Business:

1) Cheaper

2) Easy, accessible, user friendly for customers.

3) Customers/user already their, you don't have to take effort to add them.

4) Word of Mouth is more stronger & Faster in Social Media

5) Its providing an additional channel for customer support

6) Broadcasting updates, announcements, news, e.g. additional PR resource

7) Promotions

8) Behind the scenes look at the organization

9) Advertising

10) Reach to your internal customers i.e. employee without any barrier.

11) Allows the organization to measure and monitor the effects on their customers.

12) Organizations are able to target individuals based upon specific interests shared on social media.

Social Media helps your other integrated marketing efforts. It Should act in parallel way. Suppose you are launching new product -you gave its TV commercial, Advertisement in print media, Radio jingles, or other marketing ways so to boost its overall effectiveness if you add it in Youtube, Facebook wall, Twitter etc. You can able to create unison, one directional, clutter free promotion for your product.

Social Media Challenges:

1) Regular updation is necessary

2) Content should be relevant to customers

3) If you are using it for complaint forum then you have to solve as much as complaint else it acts like a Boomrang.

4) Keeping Fan following

5) Everyone want new, unique, true information.

Also remember just like with other marketing initiatives—social media efforts can succeed or fail. So be sure & clear what is your goal & how you will going to perform.

So if you till away from it......then its time to have presence on Social Media.

What Makes Indian Premier League (IPL) so Hot?

In this sales2marketing article we will try to see the Indian Premier League (often abbreviated as IPL) in marketing point of view. Why it so successful in so short of time? IPL is a Twenty20 cricket competition initiated by the Board of Control for Cricket in India (BCCI) and supervised by BCCI Vice President Lalit Modi, Chairman  and Commissioner for IPL. It presently includes 10 teams called "franchises" consisting of players from different countries. It was started after altercation between the BCCI and the newly-created Indian Cricket League.The IPL works on franchise system based on the American style of hiring players and transfers.

Whats makes it so popular in India and abroad?

Here are some reasons for IPL success in India.

1) Its format: 20-20 overs which requires only 3 to 4 hours time to finish match. 

2) Indian viewers interest in Cricket- great fan following (eat, drink, sleep & digested cricket attitude).

3) Glamourous look to IPL (Cheergirls, strategic breaks, filmi Celebrity association, presence on ground).

4) Marketing Buzz (Association of Brand, their unique way to promote their brands).

5) Vision (Man behind the show Mr. Lalit Modi, he knows where, what & How).

6) It attach International players almost all test cricket playing countries which gives result in their fan following and vice-versa.

7) Fair and quality Play - Spirit of game(Till date)

8) Given different regional representation to teams which covers entire India.

9) Ownership of Franchisee given to Professional business tycoons like Ambanis, Vijay Mallya, Nes Wadia and latest Mr Subrato Roy and many more. 

10)Match timings in Afternoon & evening time as concern with India(Prime-time)

Commercial Aspect of IPL.
1) It was the first sporting event ever to be broadcast live on the popular video sharing website Youtube.
2) Sony/World Sport Group -Broadcast Rights 10 years at Rs 8700 crores.
2) Brand value was estimated to be around $4.13 billion (over Rs 18,000 crore) in 2010.
3) According to global sports salaries review IPL is the second highest-paid league, based on first-team salaries on a pro-rata basis, only second to NBA league. It is calculated that average salary of IPL over a year is £2.5 million.
4) DLF Group paid US$50 million to be the title sponsor of the tournament for 5 years from 2008 to 2013
5) In 2010, the IPL expects to have 80 official merchandising deals.
6) five-year sponsorship agreements include a deal with motorcycle maker Hero Honda worth $22.5-million, one with PepsiCo worth $12.5-million, and a deal with beer and airline conglomerate Kingfisher at $26.5-million.
7) There are disputed figures for the profitability of the teams, but in season one profit remains more over flat, in season 2, four teams out of the eight made a profit and IPL season 3 is going on...lets see.
8) Many other deals which are not disclosed.

So from this figures we can imagine what type of commercial interest involved in IPL. Which combine with viewers interest gives IPL grand success, more eyeballs.
As per Mr Lalit Modi, he wants to make IPL most successful sporting event than any other sport format in the World(NBA, Wimbledon, Grandprix etc.). Also if IPL want more professional approach, nothing can stop them from come with IPO for listing in stock exchange similar like Manchester United was listed in the London Stock Exchange (1992) at GBP 47 million.

Hope you will like this sales2marketing article....Enjoy IPL....Enjoy Cricket.... keep watching!!!                                   (Source:Wikipedia)