Industry experts discuss the formula for creating winning IPs at the 3rd edition of BW Applause Experiential Marketing Summit

EE News Desk Feb 05, 2020

The inaugural panel at the third edition of BW Applause and everything experiential Marketing Summit and Awards started with the heavyweights of the events industry Anil Singh, MD, Procam, Nanni Singh, Founder, Showcase Events and Sanjeev Pasricha, MD & CEO, CS Direkt Events discussing the formula for creating winning IPs. The session was chaired by Sanjeev Pasricha.

The session started with a very important question that are IPs of today, a game changer? On this Mr. Anil Singh said that the IPs is the insight of what a promoter is. An IP gives you the santity to be able to protect your right. He also mentioned that we get involved, invest and maintain this as a child and make it grow as sky is the limit.

Whereas, Nanni Singh’s perspective and genre of IP was different so she mentioned about the passion of bringing music as an experiential thing for the audience. She stated that folk music was the only one which is recognized all around the world because of heavy promotion of the Rajasthani folk music. Having said that, she and her team came up with the idea of independent music where they brought in fusion in folk music keeping the originality intact and giving sustainability to it known as Sound of India, under which came the first property of Sounds of the Dessert.

Anil Singh pointed out all the possible points one need to keep in mind to be an IP. He asserted that one has to map its vision and has to make hundreds of bridges to reduce the gap to the end product. He also added that we need to understand the difference between advertising and sponsorship. Advertising is the right to whereas sponsorship is the right to connect. Sponsorship is how you weave the fabric of the DNA of your partner story.

After knowing the various benefits, the sponsors bring to the IPs and vice-a-versa, the panelist discussed if there is a measuring tool or a standard process to know how the sponsor team was beneficial? Is there a parameter?

Panelist Nanni Singh mentioned that the outreach the IPs get act as a parameter to know the actual benefit of the sponsors as per their participation. It is the measurable impact.

But Anil Singh opines that as an IP owner, hold 2-3 sessions with your partner brands and see the engagement and have a conversation to understand the brand side as well.

Lastly, the discussion ended on a motivational note where the panelist suggests that if anyone starts their own IP then it should tell your story, as an individual and as an inventor. It defines the whole eco-system of business. Take it as your baby, if it fails take the hit and if it gets success take the wealth.

Have confidence in your vision, passion and respect your work and definitely it will sustain.

(The article is contributed by Charvi Malhotra)