When the market is saturated, and you’re having difficulty making your product stand out from the rest of the crowd, maybe it’s time for an age-old tactic that is still very effective today: implementing a celebrity endorsement marketing strategy. Having a celebrity endorse your product might be frowned upon by some companies, mostly because it means investing a lot of valuable resources on a volatile asset that can quickly turn into a costly liability.
However, the pros of getting celebrity endorsements for your products can far outweigh the cons. Granted, all marketing strategies will have their risks (some bigger than others), but if planned and implemented properly, there is no reason why using celebrity endorsements cannot be your company’s best marketing tool.
There is a right celebrity for the right brand
Without question, a brand is one of the most valuable assets a company can ever have. Countless companies have risen and fallen based on the performance and reputation of their brand, no matter if the actual product is actually of high quality or not. However, getting a celebrity endorsement is not a simple matter of finding whoever is available and giving them a contract. A company must always look for a celebrity whose reputation, image, and current status fits in with their brand. Check The Influence Marketer for more details.
For example, a celebrity like Tom Hanks might be widely popular all across the world, but hiring him to endorse condoms might not be the best choice, right? This might be an obvious example, but you’d be surprised to know how many companies or ad agencies hired celebrities to be the face of a brand and got burned badly later on.
The right endorser doesn’t have to be a superstar
The typical celebrity endorsement marketing strategy will usually involve trying to sign a superstar athlete, actor, or musician to represent a brand. However, that isn’t always the most effective or efficient move. Famous people can indeed be brilliant instruments for selling products, but endorsers do not always have to be superstars. They just need to be popular with a specific demographic, not the whole world.
For example, if you’re trying to promote a niche product like an energy drink, you don’t really need an international superstar; you just need a celebrity that’s widely popular and beloved among the specific demographic of consumers that drink that particular beverage.
How did that celebrity gain celebrity status?
It can be a powerful tactic to get a particular celebrity to endorse your product. It can be beneficial to take a careful look first at how they earned their status, because that knowledge can help you gauge the longevity and stability of their fame. This in turn will help you make wiser, well-informed decisions when planning your marketing strategy.
For example, a celebrity who has been rising in popularity for the last several months will seem like a good catch. However, it turns out that this particular celeb’s rising star is due to the growing popularity of his TV show. Further scrutiny reveals that the TV show is his first-ever acting job as well. Will you invest in him, hoping that his trending popularity will carry over into the foreseeable future? Or, will you look for a more established celebrity with years of stardom under his belt?
Planning, creating, and employing a celebrity endorsement marketing strategy can be complicated and risky, but it is also fun and rewarding.
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