The Powerful Allure of Celebrity Endorsements
- August 2, 2022
- SponsorPulse Staff
In an ever-changing marketing landscape, celebrity endorsements are an effective way to promote your business. But why? What is it about professional athletes, musicians and actors that makes them so appealing to consumers? And as brands compete for their attention, how can you make sure yours makes the cut?
Read on as we shed light on the alluring world of celebrity endorsement:
What is Celebrity Endorsement?
Can we ever think of Aveeno or Smartwater without picturing Jennifer Anniston? The answer is, unsurprisingly, no. Not to be confused with influencer marketing, celebrity endorsement is a lucrative marketing strategy that enables brands to profit off the popularity of celebrities who endorse their products.
With social media making the public feel closer to the stars than ever before, there has never been a better time for brands to explore celebrity endorsement. With the right partnership, you can make a powerful impact on your audience and move them to engage with your brand.
The Power of Celebrity Endorsements
Based on our recently published State of Sponsorship 2022 report, 32% of consumers want to see more investment from brands in celebrity endorsements. Why is that?
Regardless of the realities that exist behind the scenes, to the public’s knowledge – celebrities live a fabulous life. We want to be like them. And one of the most tangible ways to live life like a celebrity is to buy the products they use.
It’s big business: LeBron James has a lifetime Nike contract worth an estimated $500 million; George Clooney has reportedly been paid $40M for his involvement in Nespressos’ ad campaigns, and Beyonce once signed a $50 million contract with Pepsi.
However, celebrity endorsements aren’t exclusive to mega-stars. In fact, SponsorPulse research suggests that lesser known celebrities and athletes have a stronger pull among consumers than one might imagine. Take Olivia Dunne and Paige Buecker, for instance. Both athletes are on fire, with 26% and 23% of their respective fan bases reporting their interest in them is set to grow over the next year.
Dunne and Buecker are among a powerful cohort of emerging athletes that are leaning into the NCAA’s newfound name, age and likeness era. In one year of NIL, the industry pulled $917M, and is now projected to surpass a billion in its second, effectively positioning itself as a valuable marketing strategy right out of the gate.
Humanizing a brand through celebrity endorsement can help create a strong connection between the brand and its customers. By leveraging their popularity and influence, celebrities act as an effective magnet, attracting customers to purchase your product.
SponsorPulse Celebrity and Influencer Scorecards
Today, many celebrity endorsement decisions are being made based on expected reach through impressions or engagements generated; however, these metrics can often muddy consumer perception and interest in these personalities. That’s why we’re introducing a new celebrity measurement product that will bring transparency to a growing area of investment within sport and entertainment.
The range of celebrities (and content creators) measured is vast, from micro-influencers to global powerhouses across sport, lifestyle, and entertainment. Interested in building sustainable, meaningful customer relationships by harnessing the power of celebrity endorsement? At SponsorPulse, we provide custom solutions to meet your specific marketing needs.
Book an interactive demo today to dive into the features and benefits of our celebrity and influencer scorecards.