Amid the highly enthralling ICC Men’s T20 World Cup 2024, let’s shed light on Angel One‘s, the Indian fintech company, partnership with the Indian Premier League (IPL).
The pact, announced before the commencement of the IPL 2024, has been inked for five years from 2024 to 2028. In addition, the arrangement enabled the financial services company to be an associate sponsor of the cash-rich Indian T20 competition.
By winning the tender bidding process to become the on-ground sponsor of the IPL, Angel One was entitled to receive rights to stadium signage, match segment sponsorships, interactive fan zones, VIP hospitality suites, and player collaborations.
In addition to buying the on-ground asset for brand recall and visibility, the entity also banked on on-air media buying (linear and CTV).
Angle One was also the third most visible and recalled brand of IPL 2024 as per the Score analysis, an ad effectiveness measurement solution supplied by Synchronise India and Unomer.
In an exclusive interview with SportsMint Media, Mr Prabhakar Tiwari, Chief Growth Officer, Angel One Limited, spoke at length about empowering cricket enthusiasts financially, catering to the wide IPL audience, sports sponsorship spending and more.
1. IPL reaches every nook and corner of the country; how did Angel One cater to the Tier 2 & Tier 3 audiences?
Angel One signed a five-year association with IPL as an Associate Partner in the Financial Services category. Angel One strategically leveraged this partnership to cater to the diverse and evolving needs of audiences in Tier 2 and Tier 3 regions.
Our association with the IPL presented an unparalleled opportunity to showcase the Angel One SuperApp on a grand scale, given the event’s staggering viewership across traditional television and digital platforms. Through this collaboration, we drove brand awareness, consideration, and affinity among a wide range of demographics to aspiring investors and traders in Tier 2 and Tier 3 cities.
Recognizing the unique preferences and behaviours of audiences in these regions, Angel One implemented localized marketing strategies tailored to resonate with them. We incorporated vernacular language content, regional nuances, and culturally relevant narratives to enhance relatability and engagement.
2. Could you please elaborate on the activations directed towards a certain TG via this association for empowering cricket enthusiasts financially?
In 2023, 73% of cricket viewers in India were young Indians from the age groups of Millennials and GenZ. [1] This trend indicated that younger generations were driving interest in cricket.
To target young Indians through their affinity to technology, we promoted Angel One’s SuperApp during IPL 2024. The app is tailored to meet the needs and preferences of the tech-savvy Gen Z and millennial audience by offering fast, secure, and reliable features that enhance the overall user experience and make investing more accessible and convenient.
Through targeted marketing campaigns during the IPL, we showcased how our user-friendly platform can empower cricket enthusiasts to take control of their financial futures.
3. Is there a plan to partner with an IPL team in future seasons to cater to a specific team’s followers?
Our decision stems from a desire to leverage the widespread popularity of the IPL among cricket enthusiasts, regardless of their team affiliations. By partnering directly with the IPL, we wanted to engage with the league’s broad and diverse fan base, thereby maximizing our reach and impact within the cricket community.
This strategic approach allowed us to engage with a larger audience of cricket enthusiasts who follow the league, rather than focusing solely on the followers of a specific team. Moreover, aligning with the IPL offers unique opportunities for collaboration and engagement across various teams and fan bases, which enables us to strengthen our brand presence and connection within the cricket community on a broader scale.
4. Could you please tell us about Angel One expanding into the multi-service sector?
Angel One is actively expanding its presence in the multi-service sector, solidifying its position as a comprehensive financial solutions provider. Angel One AMC (Asset Management Company) and Angel One Wealth mark a significant stride in offering a diverse range of services to our customers.
The recently launched Angel One Wealth is our dedicated wealth management arm, catering specifically to the discerning needs of High-Net-Worth Individuals (HNIs) and Ultra-High-Net-Worth Individuals (UHNIs). This specialized division offers personalized portfolio management and advisory services tailored to the unique financial goals, risk profiles, and investment horizons of this influential customer segment.
At the center of our multi-service offerings lies the Angel One SuperApp, a cutting-edge platform that serves as a one-stop solution for all financial needs, seamlessly integrating our diverse range of services across broking, investment products, research analysis, and more.
5. There has been a flurry of fintech companies partnering with sports properties; how did Angel One stand apart?
Our partnership with IPL is deeply rooted in our commitment to promoting financial awareness and empowerment, particularly among the youth of India and Tier 2 & Tier 3 markets. We recognized IPL’s reach and popularity, and aimed to leverage this platform to educate and inspire a new generation of investors and traders.
By combining our expertise in financial services with the IPL’s unparalleled popularity, we created a holistic ecosystem that not only entertains but also educates and empowers individuals, fostering a culture of financial awareness and responsibility across the nation. This strategic approach, driven by innovation and a customer-centric mindset, sets Angel One apart in the fintech-sports partnership landscape.
6. To what extent does the enhancement of Sports Sponsorship Spends year by year motivate brands to bank on sports properties, especially IPL?
The growing viewership and reach of marquee sports properties like the IPL motivate brands to enhance their sponsorship spending. At Angel One, our 5-year IPL partnership from 2024 to 2028 was driven by the immense marketing value this platform offers.
The IPL’s expanding audience across TV and digital channels presented an unparalleled opportunity to showcase our brand to a diverse viewership, especially the coveted youth demographic. As viewership grows, so does the attractiveness of IPL as a high-impact marketing investment.
The massive reach and ability to drive brand visibility, affinity and engagement were key motivators behind our long-term commitment to IPL.
7. How vastly Indians across age groups have become financially conscious post-COVID?
The COVID-19 pandemic has made Indians realize the critical importance of efficiently managing their finances, especially to safeguard themselves and their loved ones from unprecedented events. Indians across most age groups have exhibited heightened financial awareness post-COVID, evident in diversified investment strategies, increased savings, and emphasis on emergency funds. Younger demographics, leveraging technology, have embraced digital payment platforms and investment apps.
Fintech adoption and usage has skyrocketed in both urban and rural India post-COVID. The need for contactless payments, mobile banking, and online transactions has accelerated the shift to digital financial services. India has the fastest fintech adoption rate globally at 87% compared to 64% worldwide. The nation’s fintech industry is projected to reach $150 to $160 billion by 2025.[1]
Overall, the pandemic prompted a collective shift towards prudent financial management, driven by uncertainties, emphasizing the importance of resilience and preparedness across generations.
8. Could you please expand on the assets received by Angel One through this association? And how those assets were vital for the company in achieving its goals throughout the pact?
Angel One’s partnership with the IPL provided essential on-ground assets to boost brand visibility and engagement. From stadium signage to match segment sponsorships, interactive fan zones, VIP hospitality suites, and player collaborations, these assets amplified Angel One’s presence among cricket enthusiasts.
Additionally, the sponsorship of the Super Six moments and mentions by associated commentators further solidified Angel One’s association with the excitement of the game. By leveraging these opportunities, we were able to strengthen our position as a trusted partner in the financial services industry, connecting with fans and driving customer engagement effectively.