The Advantages and Disadvantages of Endorsement
If a familiar celebrity or public figure agrees to endorse your product or services then this can be a reliable and profitable way to promote your brand and raise public awareness. Product endorsement is a traditional and highly effective marketing strategy which has the potential to amplify brand awareness and generate notable sales channels overnight – that is, of course, if done correctly.
Product Endorsement – what’s Involved?
Product endorsement can be used as part of your brand management strategy. A lot is involved in an endorsement agreement so it’s always advised to gain the help of a marketing agency that can help you to appropriately endorse your company.
First of all you need to establish what type of celebrity or public figure accurately matches your branding. Who is your primary and secondary target market? What sort of ‘voice’ does your business possess and who can accurately represent your brand and your business to help promote brand awareness?
The next step is to find a celebrity who is willing to endorse your brand! This can be a difficult and challenging step as there are plenty of celebrities out there who are continually offered endorsement packages.
Product Endorsement – Important Considerations
Aside from the above considerations there are also plenty of legal, commercial and regulatory considerations to bear in mind when it comes to using your ‘brand ambassador’ to promote your goods or services.
Matters to consider include image rights licensing as well as the use of product endorsement on various advertising platforms including traditional offline marketing platforms along with more contemporary online marketing avenues such as social media. When you draw up a contract between yourself and your chosen public figure, all of these matters will be negotiated and agreed upon.
Advantages of Product Endorsement
With the help of a celebrity or public figure you can:
• Enhance brand awareness within a short period of time
• Shift consumer attitudes about your goods or services
• Add a fresh perspective to your brand
• Improve brand management
• Give your brand a major competitive edge
• Create long-term loyalty towards a brand
• Boost cultural awareness on a global scale by using an internationally recognised celebrity
Product Endorsement: Is it Worth your While?
Despite the advantages, endorsement can be an incredibly challenging (not to mention, expensive) offline or online marketing strategy to successfully execute. It is essential that you find the right celebrity to endorse your products who carries a continually positive reputation: otherwise they could bring a negative influence on the products they are endorsing. Finally, it is also important that the celebrity endorsing your brand maintains their fame in order to maintain the integrity of the endorsed product.