11 May Marketing Mistake #40: Believing Celebrity Endorsements Are Cost Prohibitive
According to a recent analysis from Starch Advertising Research, celebrity endorsements provide nearly a 10% lift in print ad readership, with boosts ranging from 7% for sports celebrities to 15% for entertainment celebrities.
Challenger Brands understand that contracting with a celebrity is not as difficult or as expensive as it might seem. In fact, they know that the celebrity business is cyclical and from time to time there are a lot of “unemployed” celebrities. They further understand that there are celebrities who, just like a typical consumer, become infatuated with innovative products and will “work for product.”
Finally, because Challenger Brands must fully explore their options for maximizing the impact of their precious marketing resources, they are willing to accept the limited risks such as a Charlie Sheen, Tiger Woods or Brett Farve might pose, as the rewards far outweigh the risks. If you’re unsure how to go about exploring celebrity endorsements, give us a call and we’ll be happy to share our insight. Are you a Challenger Brand?