Celebrity-backed campaigns have become a ubiquitous marketing strategy across many businesses. Nowadays, influencers extend far beyond the usual fashion and entertainment brands.
From the manufacturing sector, where famed athletes and stars promote fitness equipment and clothing lines, to the gaming and online casino industry, where celebrities partner with platforms to reach a global audience, the power of celebrity endorsements is now felt more than ever.
A brand’s main aim is to influence client purchasing decisions, typically by associating its products with a prominent figure and capitalizing on its fan base. Celebrity-brand associations create a powerful psychological effect, where consumers are more likely to trust and buy a product endorsed by someone they trust and admire.
That being said, let’s see how brands can maximize celebrity endorsements to have an edge in the competitive market.
Targeting endorsements accurately by focusing on the right fit
Business brands need to choose a celebrity who shares the same values and goals as the target audience, and this is the first step to success. From the influencer’s perspective, the product has to match their cultural and personal values.
Brands, on the other hand, need to find a celebrity or athlete whose audience is significantly interested in their product. If the interest is little, any means of promotion will not produce a big marketing splash, no matter how big the celebrity is.
For instance, an athlete like Eliud Kipchoge would not be a good fit to promote a makeup line. He would, however, do well with sportswear, a fitness-tracking app, or even sports drinks. Brands need celebrities to be targeted accurately towards the potential products that they are to promote if they are to realize a big market impact.
Many celebrities will accept ambassador roles with companies that have the same products that they use or wear so that the relationship becomes authentic and not something forced. Celebrity endorsements that are not authentic can backfire.
Boosting sales and customer loyalty
The influential status of a celebrity becomes a gateway for brands to reach the star’s fanbase. After the connection between the brand and the audience has been made, the business or company reassures the consumers of the quality of the brand, thanks to celebrity involvement.
The sales of an endorsed brand have proved to increase significantly afterward. Research by Harvard Business School revealed that a celebrity endorsement could spell a company’s increase in sales by an average of 4% relative to its competition.
One way to assess the true quality of a product is to consume it. Another quick and effective way would be to see a celebrity attach their name and good reputation to the product. This would alleviate any second thoughts and uncertainties about the quality of the product.
For example, crypto traders who might have been unsure about the best trading platform would opt for the Binance platform after seeing Cristiano Ronaldo endorse it. Long-term partnerships with celebrities are also important to building and establishing strong trust and loyalty consumer ties.
Inspiring consumer confidence and purchasing power through celebrities
There is no doubt that a brand’s value increases once a popular musician, NFL, or football star is brought into the mix. If a fan spots a celebrity using a certain product, he or she would say, “It must be awesome!” The element of legitimacy becomes present in a company that secures an endorsement deal simply because of the name supporting it.
Nike, for example, is well known for celebrity endorsements, with the likes of Travis Scott, Michael Jordan, and Tiger Woods flaunting their fashionable shoes. When fans see their idols wearing those Air Force 1 Low “Cactus Jack” sneakers and Nike Jordans, they talk about how cool they are, and soon enough, they will be lining up in stores to get a pair as well.
We have seen how custom celebrity limited editions of various brands’ products sell out in minutes, which points out the huge impact of celebrity endorsement on consumer purchasing.
Businesses see their stock sales appreciate almost immediately once the news of the endorsement contract is announced. This kind of success can be attributed to the increased confidence and perceived legitimacy that the celebrity or athlete brings to a product.
Beating marketing overexposure by going beyond traditional ads
The number of advertisements across all media is often too great, as many brands compete for advertisement space to promote their products and reach a larger audience. This leads to the problem of marketing overexposure.
Luckily, marketing research has discovered a way to combat this by presenting ads in a special way that beats the common standard ads. The trick would be to employ a reputable celebrity with whom people already have positive feelings and impulses. This way, the audience’s attention can easily be grabbed, and the ad can stand out from the rest.
The “celebrity effect” has been quite useful for brand promotion, and even small businesses are tapping into the power of celebrity endorsement deals to reach wider audiences and drive their sales force.
With these tips and methods, business and company brands can achieve tremendous success in terms of brand building, market reach, consumer trust, and the ultimate goal of growing sales and realizing profits.