A Celebrity endorsement is good for you when you need one of the following:
Significant Visibility. You need to be recognized on a massive scale. For example, if you had a big PR component in your marketing strategy, celebrities can enhance how effective those efforts are. Alternatively, if you operate in a space where it is difficult to reach your audience group through digital channels (competitive keywords, limitations on marketing such as CBD), than celebrities can provide a powerful channel.
Credibility. When you operate in a space where people are skeptical (for example, hair loss repair products), or have been continuously sold ineffective products to (such as anti-hangover products and magic fitness machines), celebrities can provide the credibility you need. Celebrities can inspire faith and belief.
Branding. When you are operating in a market where there is a variety of similar or easily mistakable products and you would like to differentiate yourself, celebrities have proven very effective in helping achieve those goals.
Celebrity endorsements are not as effective when you are running performance marketing campaigns. While they can definitely be helpful, celebrities tend to improve metrics but not lead these campaigns themselves. For example, utilizing content from a celebrity can increase conversion rates and other metrics for traditional digital marketing campaigns but may not drive significant sales itself. This doesn't mean performance marketing cannot benefit from celebrities, but we strongly suggest not to expect celebrities to replace digital marketing.
Celebrities are also not great advisors. They don't tend to have the time to dedicate to a company in order to really understand its business. If you want a celebrity for your advisory board, we urge you to think twice. There are times where this is a good fit, but we think they are the exception.
Tuesday, January 1, 2019
Want to join our syndicates email list and invest with us?
We lead investments in promising early stage startups. When there is room for additional investors we invite our syndicate members to participate. Must be an accredited investor.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.