Source : BW MARKETING WORLD
In the six months that concluded on September 30, 2021, boAt spent Rs 46 crore on advertising and promotions, according to the DRHP.
The marketing efforts of boAt, which is led by Aman Gupta, will continue to involve famous figures such as celebrities, singers, cricket players, social media influencers, and television personalities.
The parent business of the wearable and hearables brand boAt, Imagine Marketing India, plans to keep taking advantage of India’s e-commerce sector in order to boost sales and profits. The business has planned to make investments in its strategic partnerships with online retailers of boAt items, including Amazon and Flipkart.
“For our online sales channel, we intend to invest in our existing strong strategic relationships with online marketplaces that retail our products, such as Amazon and Flipkart, and continue to jointly promote our brands and products on their platforms, while introducing more SKUs that we retail on these online marketplaces through exclusive product launches,” the company that will go public said.
BoAt has continuously raised its advertising and promotional costs year after year, according to the Sebi-registered document. According to the company’s Draft Red Herring Prospectus (DRHP), boAt spent Rs 46 crore on advertising and marketing over the six-month period that concluded on September 30, 2021. But this information is based on the earlier DRHP. Using the pre-filing procedure, which permits the company to delay public revelation of details until later, the corporation filed for another initial public offering (IPO) this year.
During the fiscal year 2021, the company’s advertising and promotional expenses climbed from Rs 20.2 crore in 2020 to Rs 47.8 crore. This increase was mostly due to an increase in new consumer acquisition and advertising initiatives.
From the start, the consumer electronics firm has heavily invested in digital marketing to reach consumers.
“We have created programs over the years that focus on the retention life cycle of a customer. With the brand identity at its center, we think our marketing campaigns have been consistent across multiple media platforms, helped by meticulous and well-organized calendar planning across channels and content formats. This has enabled us to create an engagement-driven marketing strategy that is effective and efficient,” the company stated in the DRHP.
The business stated that it will keep interacting with well-known figures through its marketing techniques, such as singers, cricket players, celebrities, social media influencers, and TV personalities.
With an offer for sale (OFS) of up to Rs 1,100 crore and a new issue of equity shares valued at Rs 900 crore, Mumbai-based boAt has launched an IPO worth Rs 2000 crore. Rs 700 crore of the total net proceeds will go toward general company objectives and repayment/prepayment.
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