Sony Liv is gearing up for the release of the third season of Shark Tank India, accompanied by the campaign ‘corporate bidaai’ (corporate farewell), conceptualised by Moonshot. This campaign aims to capture the show's tone through a humorous narrative, portraying the journey of a young professional transitioning into an entrepreneur.
This season, along with a set of new Sharks, there will be campus episodes featuring students pitching startup ideas to highlight the platform's focus on youth entrepreneurship. The Sharks this season are: Amit Jain, CEO, Car Dekho; Ritesh Agarwal, founder and group CEO, Oyo; Dipendra Goyal, founder and CEO, Zomato; Azhar Iqbal, co-founder and CEO, InShorts; Radhika Gupta, managing director, CEO, Edelweiss Mutul Fund, Varun Dua, founder, Acko and Rani Screwvala, co-founder, upGrad.
In an interview with Aman Srivastava, head - marketing, Sony Liv, Campaign India explores the strategic marketing approach for the third season of Shark Tank, the platform's edge in the OTT landscape, and how sports IPs have turned out to be a vantage point for its audience engagement.
Edited excerpts:
What's different this year for Shark Tank India, and what can the audiences expect?
Our focus this season extends to the youth's readiness for the corporate world and proficiency in business ideas. As many colleges now have incubation cells supporting students with entrepreneurial ventures, this season, we aspire to highlight this narrative.
Additionally, we'll feature businesses with sustainability and environmental goals. Beyond content, anticipate the introduction of new products and entrepreneurs showcasing remarkable skills and innovative ideas. We trust this season will captivate viewers, just like its predecessors, and bring them a delightful experience.
The ad promo ‘corporate bidaai’ (corporate farewell) for Season 3 features a narrative of a young entrepreneur leaving a corporate job to pursue a startup. How was this storyline chosen, and how does it resonate with the overarching theme of the show?
Entrepreneurship, in essence, blends education and experience, especially for those transitioning from corporate jobs. The ad film showcases the dynamics of professional experiences that often parallel the world of business, with effective communication relying heavily on humour.
Recent seasons of Shark Tank showcase a notable influx of youthful entrepreneurs, a testament to the show's impact in shaping their approach. It's evident how the previous seasons served as a boot camp, empowering them to navigate the intricacies of entrepreneurial ventures with confidence.
The camaraderie among co-founders, often from the same age group, reflects a shared passion and cultural resonance. This campaign not only brings joy but also highlights the readiness and preparation of these like-minded individuals, striking the right chord and leaving a lasting impression.
How has social media been specifically utilised in the promotional strategy for the show considering the release of the promo and its subsequent engagement on platforms?
Delving into the launch of the promo and its subsequent engagement is a crucial aspect of the digital media landscape. While social media wields considerable influence, the real power lies in the collaboration of like-minded individuals who can exponentially amplify the message.
Choosing the right platform, where shared values enhance the communication factor and unite individuals with a common mindset, accelerates the process of promoting a product or idea. These like-minded voices serve as the cornerstone for effective communication, articulating perspectives that may be challenging to express directly.
Through digital and social platforms, particularly on LinkedIn, individuals can leverage their diverse backgrounds and entrepreneurial experiences, creating a compelling presence and resonating with a broader audience. This strategic utilisation of digital mediums not only highlights their presence but also garners attention by tapping into the collective strength of similar voices.
With the addition of five new Sharks this season, how does the marketing strategy aim to highlight their presence and appeal to the audience, considering their diverse backgrounds and contributions to entrepreneurship?
The introduction of new Sharks to the panel is noteworthy due to their existing prominence in their respective fields. Their inclusion brings a surge of followers who closely follow their journeys. We urge the Sharks to stay true to themselves as their audience appreciates them for who they are, and they do not have to adopt a different persona.
Joining the Shark Tank panel not only provides exposure but also establishes connections with a dedicated group of followers. The interaction between the shark, pitcher, and investor unfolds organically on Sony Liv, involving mutual evaluation. While we have aimed to maintain a solid presence in this domain, the impact the Sharks have on the platform truly defines them. There's no secret formula or special anecdote—it's their genuine interaction and contribution to the Shark Tank environment that shapes their perception and influence.
What does the marketing split look like and which mediums will you heavily focus on for this campaign?
The advantage of an extensive marketing campaign and a long-running show like Shark Tank lies in our approach to avoiding front-loading expenses. Both digital and traditional media, play a crucial role as Shark Tank reaches diverse audiences through various channels. Fresh content and the introduction of new pitches ensure continuous engagement, enabling each story to resonate with specific audiences and targeted social voices. This strategic approach involves spreading the campaign spans throughout the entire season, incorporating some initial impact to set the tone for the overall marketing strategy.
How does the marketing team aim to measure the success of the promotional campaign, and what key performance indicators are you looking for to measure effectiveness?
Effectiveness is essentially measured by the number of individuals who engage with the content, considering factors such as their origin, time spent on the platform, episode variety, engagement frequency, and demographic profile. Notably, connected TVs have emerged as a significant source for viewership, providing insights into household consumption patterns. The interesting aspect is the consistent viewership observed even after the show's initial airing, indicates a substantial catch-up audience.
What is Sony Liv's vision for the future of streaming services in India, and how does it plan to stay ahead of evolving consumer preferences?
Fundamentally, we've consistently positioned ourselves as providers of premium content. Our focus is now shifting towards creating content that becomes ingrained in daily habits. While our positioning strategy sets the stage, the forthcoming content will prioritise higher frequency to encourage regular consumer engagement on the platform.
Recognising that live shows and sports events follow unique schedules, we aim to consistently draw consumers back with a mix of live and on-demand content. Looking ahead, we foresee a future where consumers' daily entertainment needs are defined and shaped by evolving formats, marked by seamless integration with commercials, making our platform their preferred destination.
Lastly, how has the engagement for live sports on Sony Liv been on the OTT platform? Did India's good performance at the Asian Games translate to more viewership? Which sports IPs have gained massive viewership?
In terms of live sports engagement on Sony Liv, we've witnessed notable interest, particularly during events like the Asian Games that garnered increased viewership. From both a subscription and general perspective, India emerged as a significant winner, capturing the attention and emotions of a widespread audience on our platform.
Our live sports offerings encompass a diverse range, featuring Premier Club football leagues such as the English Premier League, Europe League, and UEFA Nations League. Additionally, we showcase major tennis tournaments, including the Australian Open and the US Open, along with other contact sports.
The cross-pollination of sports fans is an intriguing phenomenon we've observed. Whether it's the unfolding drama of a WWE story, a gripping fight, or the intensity of a 90-minute football match extending into extra time, sports enthusiasts find our platform a compelling destination. This diversity of content keeps viewers engaged and eagerly returning for more, creating a dynamic and inclusive sports-watching experience.
(This interview will be updated to include a list of sponsors who will be partnering with the third season of the show)
