Celebrity partnerships have been in play for as long as most of us can remember. Whether we are clicking through channels, flipping through magazines or reading up on our favorite brands online, celebs are always talking about products they claim they can’t live without. It’s nearly impossible to consume media without seeing some celebrity endorsement. This happens for a seemingly good reason, as based on a survey conducted worldwide, 16 percent of online shoppers between the ages of 16 and 34 buy into brands or products based on who represents them.
We live in a world where celebrity endorsement carries a great deal of appeal for consumer purchasing and decision making, which often drives marketers to turn to this campaign approach to drive sales and influence consumer opinion. In fact, according to Bloomberg, a whopping $255 million is spent on influencer marketing every month.
Before a company decides to reap the benefits of a celebrity endorsement campaign they should also consider the drawbacks that may occur from the partnership. Here are some of the opportunities and pitfalls you should weigh when considering a celebrity spokesperson to promote your brand:
Creates instant brand recognition and association with a celebrity
The minute someone from your target audience sees your product or service associated with a celeb they love, they’re likely to develop a positive connection with your brand, making them more inclined to buy your products.
Celebs wouldn’t dare to use a product or service that would risk damaging their reputation with poor quality. Consumers know this, making them quite trusting of the products they see celebs using. They’re more likely to have faith in the quality of your product or service.
Brand recognition has a dark side
If people see a celeb they dislike using your products or services, it can give them a bad taste in their mouth for your entire brand. Celebrity reputations are continually changing, and it’s nearly impossible to know when a scandalous story is about to hit about the celeb that happens to be representing your brand. Be wary of whom you choose, and avoid the drama queens and kings!
Forking up the cash
Celebrity endorsements can be quite pricey – ranging up to $50 million, if you want Beyonce to rep your brand for the next ten years. If you’re going to take this route, you must have the budget to make a significant impact.
It is crucial to ensure that the celebrity lines up with the personality of the brand and can add to the ultimate objective of the project – to raise the overall awareness and media worthiness of a brand initiative. Considering a celebrity endorsement or looking for alternatives? Influencer marketing may sometimes be a more viable approach for smaller companies. Not sure what that is or how to get started? Drop us a line, and we’ll talk about your goals.