The Indian Premier League (IPL) has become more than just a cricket tournament, it’s a platform for brands to showcase their value and reach a wide audience. With the rise of social media and digital marketing, IPL franchises have been utilizing these platforms to build their brand value and engage with fans. One such franchise that has been successful in this aspect is Royal Challengers Bangalore (RCB), led by Virat Kohli.
According to a recent report by Qoruz, a leading influencer marketing platform, RCB’s brand value is set to cross $140 million. This is a testament to the consistent efforts put in by the franchise on all fronts – from social media to offline initiatives.
Qoruz analyzed RCB’s performance on various digital platforms, including YouTube, Instagram, and offline programmes, to arrive at this conclusion. The report also states that RCB has one of the most loyal fan bases, with a high engagement rate on Instagram and YouTube.
But what can other brands and businesses learn from RCB’s success? Here are some key insights and implications from Qoruz’s report:
Engage with Fans Consistently
One of the major reasons behind RCB’s high brand value is their consistent engagement with fans. Whether it’s through social media posts, offline events, or brand partnerships, RCB has been actively reaching out to their audience and keeping them engaged. This not only helps in building a loyal fan base but also increases brand visibility and recall.
Leverage the Power of Social Media
Social media has become a powerful tool for brands to connect with their audience and build their brand value. RCB has been using platforms like Instagram and YouTube effectively to showcase their team, players, and sponsors. They have also collaborated with popular influencers to reach a wider audience and increase engagement. This goes to show the importance of having a strong social media presence for any brand looking to build its value.
Invest in Offline Initiatives
While digital marketing and social media have become crucial for brand building, offline initiatives should not be ignored. RCB has been actively organizing events, meet and greets, and other offline programmes to engage with fans and build a strong community. This has helped them create a personal connection with their audience and establish themselves as more than just a cricket team.
Creatore’s Take
As a premium Indian branding agency, Creatore understands the importance of consistent efforts and a multi-platform approach when it comes to building a brand’s value. RCB’s success is a prime example of this, and we believe that other brands and businesses can learn from their strategies. By engaging with customers consistently, leveraging social media effectively, and investing in offline initiatives, brands can create a strong brand value and establish a loyal fan base.
So, if you’re a business owner, CMO, or marketing head serious about brand building and market relevance, it’s time to take a cue from RCB and step up your branding game. With the right strategies and a dedicated approach, your brand can also achieve a high brand value and connect with your audience on a deeper level.