Establishing the right partnership between a brand and a celebrity is critical in communicating with consumers. Celebrities get attention, so featuring them in your marketing campaigns greatly enhances the visibility of your brand. Statistics show that 16% of internet users between the ages of 16 and 24 have discovered new brands through celebrity endorsements. Companies are now spending more money on these partnerships because of the expected returns and the positive hype that celebrities bring to brands. Are you looking for a partnership with a celebrity? Here are some tips to help you create a successful partnership.
you have goals
What do you want to achieve with a brand/celebrity partnership? You must define goals and objectives. Before signing a deal with a celebrity, set goals. This can be increasing sales, enhancing brand visibility, or introducing new products to the market. Once you have clear goals, you can choose a celebrity with enough reach to help you achieve them.
Approach celebrities directly
Celebrities with many followers on Instagram get paid up to $1 million per post. The price is high due to the power that the celebrity has. On the other hand, some of them charge higher fees because many people deal with them. If you are looking for a music artist or actor, it is recommended to deal directly with the personal manager rather than their publicist or record company. Talking to different people will increase the total amount your business needs to pay for the partnership.
Find out what motivates them
Some celebrities will ask for money to market your products, while others will offer their services in exchange for products and services. When approaching a celebrity, make sure you understand their motivations. If you cater to their needs, your partnership will be more successful.
Aside from paying celebrities a fee, you can also give them some promotional assets to boost your relationship. While this may cost the company some money, it is a necessary investment. I Need Cash Now, an online loan company, has partnered with celebrities to build brand awareness, attract attention, and gain followers on social media.
Invest in long-term partnerships
While it is tempting to partner with the hottest celebrities right now in the short term, you should have a long term strategy. One of the most successful brand/celebrity partnerships is between famous basketball player Michael Jordan and the Nike for Air Jordan shoes that have been around since 1984. Read about these partnerships when developing a strategy for your business.
Understand their values
One of the biggest mistakes you can make is choosing a celebrity who isn’t ideal for your brand. Celebrities are the spokesperson for your business, so their values must align with those of your business. This makes it easier for them to market your brand. You need to do your due diligence before signing the partnership contract.
Celebrity ads have become very popular lately. Celebrity endorsements build your brand recognition. Use these tips to develop a strong brand/celebrity partnership that boosts your company’s profitability.