How to Create a Successful Brand/Celebrity Partnership
Creating the right brand-celebrity partnership is crucial to connecting with consumers. Celebrities command attention, so including them in your marketing campaigns dramatically improves your brand visibility. Statistics show that 16% of Internet users between the ages of 16 and 24 discovered new brands through celebrity endorsements. Companies are now spending more money on these partnerships because of the expected returns and the positive buzz that celebrities bring to brands. Looking to partner with a celebrity? Here are some tips to help you create a successful partnership.
What do you want to achieve with the brand/celebrity partnership? You need to set goals and objectives. Before signing a deal with a celebrity, define the goals. It can be to increase sales, improve brand visibility or introduce new products to the market. Once you have clear goals, you can choose a celebrity with enough reach to help you achieve them.
Approach the celebrity directly
Celebrities with large Instagram followers charge up to $1 million per post. The price is high because of the power that celebrities wield. On the other hand, some of them charge higher fees because they are handled by many people. If you are looking to hire a musical artist or actor, it is advisable to deal directly with the personal manager instead of the publicist or his record company. Talking to different people will increase the total amount your business has to pay for the partnership.
Know what motivates them
Some celebrities will ask for money to market your products, while others will provide their service in exchange for products and services. When approaching a celebrity, make sure you understand their motivation. If you meet their needs, your partnership will be more successful.
Along with paying the celebrity a fee, you can also give them promotional assets to cement your relationship. Although it may cost the company money, it is a necessary investment. I Need Cash Now, a company that issues online securities loans, has partnered with celebrities to build brand awareness, grab attention and gain social media followers.
Invest in long-term partnerships
While it’s tempting to associate with the hottest celebrities of the moment 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 Nike for Air Jordan sneakers that have been around since 1984. Learn 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. The celebrity is a spokesperson for your company, so their values should align with your company’s values. This makes it easier for them to market your brand. You must do your due diligence before signing the partnership contract.
Celebrity advertising has become very popular lately. Celebrity endorsements build your brand recognition. Use these tips to develop a strong brand/celebrity partnership that boosts your business profitability.