17 Jan When You Should Use Celebrity Endorsements as a Challenger Brand
Challenger brands often face a stacked deck. They have to maximize their limited resources, and they have to make the most of every opportunity. Fortunately, when it comes to celebrity endorsements, it’s a level playing field. And while the bigger companies may be able to throw more money at celebrities, you have the ultimate opportunity to make an impression by wowing an individual with tremendous influence.
Getting In On The Ground Floor
Five years ago, Under Armour was a recognizable brand, but very much a challenger brand in relation to bigger names like Nike. Today, that’s no longer the case. A big part of Under Armour’s current success is directly related to their investment in two names – Stephen Curry and Jordan Spieth – that the company invested in when those two were much lesser-known stars. Today, Curry and Spieth are the most recognizable names in basketball and golf, and they’ve made Under Armour into a viable alternative to Nike.
When It’s The Right Fit
You wouldn’t approach a Kardashian to endorse a low-cost product. But you’d be glad to get the endorsement of a celebrity more commonly associated with the average person. It’s natural to want the biggest names when it comes to endorsements, but people will only take the endorsement seriously if it comes across as believable. People can tell when something’s real, and if your endorsement deal doesn’t come with a healthy dose of believability, it’s not something that you should pursue.
Make a Cost-Effective Social Media Splash
The use of sponsored posts on social media is a great way for a challenger brand to gain organic exposure. The good news is that such an arrangement is far cheaper than most people realize. The going rate for social media influencer posts is around $1,000 per 100,000 followers. The best part is that you know avid fans of your chosen celebrity are sure see this type of message, giving you virtually guaranteed exposure.
To Promote a Specific Angle
When times were tough for World Wrestling Entertainment (WWE) in the late 1990s, they partnered with controversial boxer Mike Tyson as their way of announcing their newer and edgier direction to the world. Because of the ensuing publicity, WWE found favor with the right audiences, and they weren’t a challenger brand for long. The lesson here is simple – sometimes there’s just one right celebrity for your message, even if that person isn’t the most visible celebrity, and even if they don’t have the most stellar reputation. If it works for your brand and it’ll show the world what you’re all about – and it won’t break your bank – it’s a good move for your business.
When done correctly, celebrity endorsements can turn a challenger brand into top businesses virtually by themselves. Are you looking to use a celebrity in your next campaign? Let us know how we can help guide you in the right direction.