Lionel Messi is EdTech major BYJU’s new global brand ambassador for Education For All campaign.
EdTech major BYJU’s announced on Friday that it has appointed Lionel Messi, a professional football player, as the global ambassador for Education for All, its social impact arm. Byju’s mission is to make education more affordable, accessible, and equitable for all by expanding its global reach. According to a statement released by EdTech major BYJU, Messi, who captains the Argentine football team and plays for Paris Saint-Germain, has signed a contract with the organization to advocate for equitable education.
As football has approximately 3.5 billion fans worldwide and Lionel Messi has a social media following of nearly 450 million, the engagement of EdTech major BYJUs with Messi will increase the tech company’s international visibility.
The fact that the greatest player of all time is also the greatest learner of all time is hardly surprising. I’m confident that this partnership will motivate millions of people worldwide to dream bigger and learn more effectively.
EdTech major BYJU became the official sponsor of the FIFA World Cup 2022 in Qatar earlier this year. Lionel Messi will participate in BYJU’s Education For All marketing campaigns as part of his long-term engagement, which begins as he begins his final campaign to win the FIFA World Cup in 2022 as captain of Argentina’s national football team.
“A high-quality education has the power to change people’s lives, and EdTech major BYJU’s has changed the careers of millions of students all over the world. Messi stated, “I hope to inspire young students to reach and remain at the top.”
Depending on the rights it receives, EdTech major BYJU is expected to spend between $5 and $7 million annually on this agreement with Messi. In addition, the company must have spent $30-40 million sponsoring the FIFA World Cup. Financial performance In FY21, BYJU’s also reported a 20-fold increase in losses. In comparison to its loss of 231 crores in FY20, the company’s gross revenue was 2,428 crores, and its losses increased to 4,588 crores. Changes in the way the company recognized revenue were blamed for the rise in losses.
BYJU’s subsidiary Aakash Educational Services, which it purchased for approximately $1 billion last year, was acquired by BYJU for about 300 crores last month. A spokesperson for the company stated that the loan was used to promote Aakash, BYJU’s core business. The business stated that its gross unaudited revenue for FY22 was close to 10,000 crores yen, and it now anticipates generating 15,000 crores yen in FY23 with improved margins.
Because the announcement of BYJU’S hiring Messi came just days after the company had announced retrenchments, many people questioned the company’s decision. On the other hand, some people suggested that the appointment might help improve BYJU’s brand image because Messi is liked by a lot of children and the FIFA world cup was coming up. According to a few experts who spoke with THE WEEK, hiring Messi might help BYJU’S improve its recently damaged brand.
Even though EdTech major BYJU is having a hard time, some experts think that involving celebrities like Messi could help the company get more customers and make more money. BYJU’S still has some advantages, like the recent funding event, despite the difficulties. Someone who has a lot of pull, like Messi, who has his brand equity, is focused on getting customers and making money. If it works, BYJU could see an increase in incremental revenue, which is exactly what it needs right now.
Experts also say that while marketing gimmicks are important, EdTech companies should also focus on the value, creativity, and transformation of their products and services.
The key is how technology is explained.
In EdTech and DevTech, development and deployment can be delivered with ten times the value when emerging technologies like Low code and no code are used. This is the place where young people can quickly learn and adopt these transformative technologies because the world today wants innovation and transformation. For sales to hyper-scale up, marketing hype is important, but the key is how the product and service work with the underlying EdTech transformation.