Celebrity marketing has become quite popular and even not-so popular brands have started signing celebrities for their brand endorsements. Celebrities don’t t just bring value to the viewers, but also make the advertisement look glamorous. It is not unusual for any celebrities to make more money through endorsements, than what they actually make from their work. But today we are here to discuss the benefits and disadvantages of celebrity marketing, to help advertisers weigh their options before making any final deal.
Pros of Celebrity Marketing
1. Helps You Tap the New Markets
When a well-known face endorses your brand, it automatically attracts new target audience – the diehard fans of the celebrity. People who would have not much cared about your brand will now get open to try it at least once because their favorite sportstar, actor, politician or model is endorsing it. The bigger the celebrity, the larger audience base you get to invite in.
2. Helps Personify Your Brand
When you decide to work on celebrity marketing, the attributes of the celebrity automatically get transferred to the brand. For instance: if you’ll hire an actor, your brand’s image will automatically turn into something glamorous and exciting, if it was boring and dull before. A celebrity will make sure that the brand matches his/her personality and that is directly reflected to the audience.
For example: Porsche has recently signed tennis player Maria Sharpova for her power and elegance that she brings into the game This same power and elegance is what describes a Porsche as well. Thus, we can say that it was a perfect association.
3. Builds Trust and Credibility for your Brand
People are emotionally and morally connected with their idols. Celebrities are no less than any idols for them. In this highly populated world, every celebrity that you’ll come across will have over a million fans, and thus getting the thumbs up from them should bring a lot of success for your business. Now when these millions of people will join your brand, your brand’s market value and reputation will automatically improve in the shortest period of time.
Cons of Celebrity Marketing
1. Celebrities are Human Too
One of the biggest cons of celebrity endorsement is that as and when the stardom flashed off, the number of fans will also start to decline and the company may have to suffer the consequences as well. This is the reason most organizations work on contract basis and decide to sign up different personalities at the end of the term. For example: the Lux brand had over 50 different models and actors endorsing its products since the launch. The marketing head of Lux makes sure that only the top woman in the industry endorses the products to keep the market growing.
2. Celebrities May Eclipse Your Brand
Some celebrities are really huge and their popularity can instantly overshadow the brand. If this happens, spending millions of dollars on such endorsements starts to make no sense at all. Some advertisements even focus on celebrities too much, that there’s absolutely no brand recall. Also, if the media is focusing more on the next movie of the celebrity on your brand’s press meet, then this is a sign that you’ve made a wrong choice.
3. Celebrity Endorsements are Expensive
Now this is a very obvious point. So unless you are ready to shed millions and billions of dollars from your company’s revenue, don’t think about going down this road. Celebrity marketing is a huge investment and then there’ll be no turning back.