While the expanse of the internet, and the global economy are facilitating an unparalleled number of business launches, these opportunities have not come without their own set of challenges. One of the most prevalent challenges associated with the global market today is its high level of competitiveness. Consumers have more information access than they have ever had in the past, and this access comes with a great knowledge of processes, services consumer experiences, etc. This means that businesses have to work much harder to build up their market share, while remaining relevant.
The Effectiveness of Celebrity Marketing
One very effective mechanism that businesses have used historically, with great success, is celebrity marketing. Celebrity marketing is a marketing technique in which a celebrity marketing agency uses a notable name or face to endorse a certain product, business or another person. The type of celebrity that is used can range from an actor, athlete, musician, former politician, or even a famous cartoon character. The level of celebrity that is necessary will depend on the size of the target audience. For small, local campaigns, a local celebrity will suffice, and may actually produce better results than an international celebrity who is not from the area. Normally, these types of campaigns are designed and managed through a marketing agency.
Using a Marketing Agency
What a celebrity marketing agency specializes in is working with clients to understand the branding message they are attempting to present and how they want to present their product, and then they will design the ideal celebrity marketing campaign — marrying the client with the celebrity that they believe will be the ideal fit for the overall branding message. Celebrity marketing has proven to be so successful that there are numerous celebrities that make more in endorsements than they do in their profession. At the height of his career and fame, Tiger Woods was earning as much as $100 million per year in endorsements — and for good reason — it works.
Choosing the Right Celebrity is Essential
Working with a celebrity marketing agency has a number of benefits, and one of the most prevalent benefits is that they will have the resources and the expertise to bring in the celebrity that will be best for their client. Many companies have learned the hard way that the celebrities that they hire to endorse their product will become a direct reflection of the company. The problem with using a celebrity is that the name and face recognition means that product and brand association will progress quickly. It will not take long for a celebrity to become identified with a brand that he or she endorses. So, if the celebrity becomes involved in any type of questionable behavior, it can place a poor light on the company, despite the fact that the company had absolutely nothing to do with the celebrity’s actions.
A marketing agency will perform the due diligence necessary in vetting a celebrity, and they will retain responsibility if things go awry.
The Benefit of Celebrity Marketing
Celebrity marketing is the tantamount to having a very famous and popular person walk up to a company’s target audience and tell them how awesome the company’s product or service is. There is currently a TV commercial in rotation in which NBA All Star, Anthony Davis, is having his taxes done by H&R Block. It is estimated that this endorsement of H&R Block, by Davis, increased the company’s revenue generation by as much as 20 percent. The endorsement of a product by a celebrity creates a subliminal message of product superiority. Some companies have literally witnessed their stock values increase by as much as .25 percent the day that an endorsement deal is announced. Just the knowledge that a certain person is willing to endorse a certain product drives the value of that product, despite the fact that the celebrity is getting paid for the endorsement.
It Takes More than Just a Face
While finding the right celebrity is immensely important, it will not suffice in producing long-term successful results. The reason that the face alone will not work is due to oversaturation of almost every market. According to recent statistics, the average consumer receives 3,000 commercial images per day, and of that 3,000 images, the subconscious will absorb 150 images, of which 30 will actually reach our consciousness. When a celebrity marketing agency chooses the right celebrity, they can project an accelerated potential for their client’s brand reaching the subconscious mind of the target audience at a higher rate than with any other form of advertising.
Why is Celebrity Endorsements So Effective?
While the psychology associated with the art of suggestion and implication may be too comprehensive to expound on here, it is worth noting that people are able to better associate feelings, thoughts, images and ideas with things that are already familiar to them. Because of their familiarity, celebrities have the capacity to inspire, instigate, enrage, edify, entertain or mesmerize the consumer. Its most inherent benefit is that this type of marketing has the capacity to be leveraged across multitudinous channels. Additionally, it also has the ability to break through all of the advertising clutter that permeates the media outlets used by companies for their marketing campaigns — allowing companies to achieve channel-specific optimization.
Despite the fact that launching a celebrity marketing campaign can be expensive, it is normally easy to set up, and it generally highly effective.
Celebrity marketing campaigns can be immensely effective in penetrating or even creating new markets, by using the fan base of the celebrity to activate the process.
At the end of the day, using a marketing agency to create a celebrity marketing strategy, can position a company to experience an exponential increase in exposure and brand awareness — not to mention a spike in sales revenue. Additionally, celebrities can help enhance customer loyalty by increasing the level at which the consumer identifies with the brand through their familiarity with the celebrity. This is why local celebrities will often outperform a larger name in their own geographic area. Celebrity marketing should be considered whenever possible.