Successful brands need to convince consumers that they carry a different image and value from other competing products. Today, the use of celebrity advertising for companies has become a trend and a perceived winning formula of corporate image building and product marketing. This phenomenon is reflected by the recent market research findings that 8 out of 10 TV commercials scoring the highest recall are those with Celebrities’ appearances.
Finding the right Celebrity collaboration is as much art as science. The biggest, most familiar names may lend cachet, but they carry a hefty price tag. The character of the trendiest new star is often untested and may prove to be a liability
Industry research reveals and re-establishes that a Brand must always keep in mind that the objective is to build the brand and not the celebrity. As companies invest large sums of money in celebrity endorsement contracts, any celebrity endorsement relationship must contribute to larger marketing strategies. Accordingly, campaigns involving celebrities are believed to bring more positive results if they are properly integrated than traditional non-integrated campaigns.
Studies on Celebrity engagements reveal, consumers form parasocial bonds with favored celebrities who shape their lifestyles, attitudes, and behavior. Driven by the need for achievement and lifetime pursuit, consumer’s aspire to mimic Celebrities as well as live the successful and glamorous lifestyles portrayed in the media. Consumers who desire to be the likes of the celebrities gratify their urges through sub-conscious efforts to build and maintain a relationship with the celebrity. Marketers focus on this.
STRATEGIES FOR SUCCESSFUL CELEBRITY DRIVEN MARKETING
What aspects should Brands keep in mind when working with a Celebrity?
We explore the positive impact of celebrity endorsement on brand image and find out the most prominent factors those play the key role in the success of an endorsement. While analyzing the major factors that are having maximum impacts of successful endorsement, the followings are found out that before any brand signs on a celebrity, they should consider three main aspects.
Even though these three major principles must be adhered to by companies, practically it might be difficult to find celebrities that satisfy all these three conditions. Depending on the nature of the brand and the kind of product being used, companies can selectively emphasize one factor over the other.
The correct way to choose a famous person is going to depend, first of all, on whether there is a congruency between that person and the brand that you are advertising. This is essential for the strategy to work out.
Credibility, trust and the widespread perception by consumers that the famous person is an “expert” are the key variables for selecting a celebrity representative.
The famous personality must be attractive not only in physical terms but also in terms of his or her level of regard and familiarity [among targeted consumers]. Fame, along with familiarity, lead to a more positive reception by consumers. If the famous person is disliked, the advertising message will lose effectiveness.
The research shows that a famous person is capable of raising the price of the product (Note: Studies have proved that consumers are prepared to spend up to 20% more on the same product as a result of who is representing it.) that he or she advertises when it comes to products that consumers consider to be attractive and appropriate as gifts.
Two main strategies to finding the perfect Celebrity to partner with for your next campaign:
KNOWLEDGE @ WHARTON
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