Celebrities frequently appear in TV, social media, magazines, and elsewhere advertisements. However, do those endorsements increase a product’s sales? You should weigh the pros and cons before choosing a celebrity to represent your company. Here are a few advantages and outcomes of celebrity spokespersons for the products they are promoting.
Pros of Celebrity Endorsement:
- Builds credibility
Fans adore celebrities, and they frequently have a high level of trust in them. It builds brand loyalty and convinces customers that their product is one they should use. When a famous person endorses your product, consumers are further assured of its high caliber. It is possible that the celebrity’s reputation would suffer if they advertised a poor product.
- distinguishes your brand
Having a well-known person represent you can help differentiate your brand from competitors. It can also improve ad recall by aiding people to remember your advertisement and the connection between your brand and their preferred celebrity.
- opens up new markets
The right celebrity choice can help your business reach new markets. For instance, when Nike wanted to expand beyond primarily supporting tennis and track, it partnered with Michael Jordan. As a result of this partnership’s success, Nike now operates as its own subsidiary company.
- Celebrity personas shift.
When you hire a famous person to promote your company, you also hire everything else they bring. Even though doing this usually results in some of their fan base becoming customers, it can be disastrously wrong if a scandal breaks. Tiger Woods in 2009 was a good illustration of this when businesses began to stop sponsoring him to allay consumer backlash brought on by rumors of his extramarital affairs. Nike did not immediately stop supporting him, and as a result, Nike suffered a loss of revenue.
- They might tarnish your name.
A celebrity’s appeal quickly overtakes your brand if they are too well-known. If the celebrity is overemphasized in the advertisement, consumers might not recognize the brand. Consumers may need clarification if a celebrity promotes multiple products at once because they may recognize the celebrity and associate them with a different brand.
- Endorsements cost money.
It might seem obvious, but paying a sizable sum of money to get a celebrity endorsement is the norm. If your company is worth less than billions of dollars, you must determine whether the increase in sales and consumer interest justifies the $50 million, 10-year endorsement deal with Beyonce. Pepsi decided that it was worthwhile.
You have come to the right place if you are looking for the best celebrity and influencer hiring agency. Celebdhoom, one of the best online booking agents for celebrities, has a wealth of knowledge. If you have any inquiries or would like more information about Celebdhoom, do not hesitate to contact us.