The cricket craze in India brings millions of people together for most cricket events. Whether it’s World Cup or Asia Cup, cricket fans are crazy and spend lakhs of rupees to watch the live matches in the stadium. It is also an opportunity for the brands to gain visibility as such cricket events are watched worldwide.
Ixigo, India’s online travel aggregator, is the co-sponsor of the Men’s Asia Cup organised in Pakistan and Sri Lanka. It is part of Ixigo’s brand strategic marketing to reach new customers and be showcased in multiple areas at match venues, OTT, and TV.
For any brand, association with any sports event means gaining high worldwide exposure and taking its products and services to a larger audience.
However, it also benefits companies like Ixigo, which is not listed on any stock exchange. The co-sponsorship positively affected Ixigo share price, which spiked during the Asia Cup. This blog will discuss how Ixigo will benefit from co-sponsoring Asia’s biggest cricket event.
Ixigo’s ‘Ticket To Cricket’ Attracts Eyeballs
Ixigo strategically clicked the minds of cricket fans through its innovative market campaign named ‘Ticket to Cricket.’ The company rolled out these campaigns just before the start of the Asia Cup, aiming to cater to the fans’ travel needs. Under this, Ixigo runs various social media contests, offering free match tickets and flat Rs 30,000 OFF on flight tickets for the Asia Cup.
Amid this, Ixigo received a stellar response ahead of the high demand for India vs Pakistan cricket match tickets. Ixigo co-founders Rajnish Kumar and Aloke Bajpie said, “Our partnership with Asia Cup Cricket Tournament 2023 as co-sponsor allows us to bring the joy and excitement of cricket to every fan.”
Since millions of cricket fans followed the Asia Cup tournament closely, Ixigo took the opportunity to become the top choice for booking flight tickets to Pakistan and Sri Lanka. As a result, the company noticed a surge in travel booking on its platform throughout the two months of the Asia Cup cricket tournament.
How Becoming Asia Cricket Cup’s Co-Sponsor Benefits Ixigo?
Being a sponsor or co-sponsor of any cricket event benefits the companies, gaining new customers and promoting brands on a global stage, whether it’s Ixigo or Tata, a sponsor of IPL; such associated results in high brand value for the companies.
Ixigo, not listed on the stock exchange, also gets various benefits from becoming a co-sponsor of the Asia Men’s Cricket Cup. It can be seen both in its business and financial performance, which we will discuss below.
High Online Travel Booking Rate
One of the major benefits for Ixigo was the demand for online ticket booking on its platform. The company decided to co-sponsor the Asia Men’s Cricket Cup to bring new customers on its website. It was also noticed that the online ticket booking rate increased during the period of the Asia Cup as cricket fans used Ixigo to book their flight tickets.
Gain A Large Visibility
Being a co-sponsor of the Asia Cup event also allows Ixigo to gain global visibility. Since cricket is watched worldwide and the Asia Cup became more popular due to the India vs. Pakistan match, it positively benefits Ixigo. As a result of its on-ground and off-ground presence Ixigo unlisted share price remained high and saw fewer fluctuations. From the ground to the post-presentation and awards, Ixigo is present everywhere, which helps it get much-needed attention and visibility.
Improve In Financial Performance
Asia Men’s Cricket Cup was crucial for the company from a business perspective. As it was the first time Ixigo was associated with any major cricket event, a substantial improvement can be seen in its financial performance. Since it is difficult to predict the growth of overall finances due to the single event, Ixigo share price consistently performed well throughout the Men’s Asia Cup.
What Future Holds For Ixigo After Asia Men’s Cricket Cup?
Ixigo, one of India’s best online travel aggregators, has poised spectacular business growth in the last few years. Whether it’s business or unlisted shares perspective, the company impressed its investors with its business strategies. Since the Asia Men’s Cricket Cup brought enough visibility to Ixigo, the company is expected to continue to perform well in the future.
If we look at the performance of Ixigo in the grey market, it recorded Rs 501 crore operational revenue along with PAT of Rs 23 crore in FY 2023. The company proved profitable for the investors as Ixigo share price consistently increased along with its business growth.
It is expected that Ixigo might have other business plans which might benefit investors who seek long-term investment in the company. You can also buy unlisted shares of Ixigo by using online trading platforms like Stockify. There, you will get expert guidance and advice that helps you make an informed investment decision. So, do your market research and invest in the fastest-growing companies like Ixigo.