TYPES OF CELEBRITY MARKETING FOR BRANDS
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CELEBRITY MARKETING:
There are different types of celebrity marketing types that you can employ as per your marketing budget. Earlier celebrity endorsements used to be a big shot deal as they are insanely expensive. But nowadays thanks to the advent of social media, there are different ways in which you can get a celebrity to endorse your products WEBBIES is happy to present to you a few ways in which you can get celebs on boards for marketing your products and create a successful brand identity,
LONG TERM CELEBRITY DEALS:
Initially, long-term celebrity deals used to be less common as they involved huge risk factors. Just like wilted flowers if celebs lost their appeal and fame in the long term the value of the brand would also wither. The celeb’s image psychologically relates to the brand’s image and elevates its status by endorsing it. Customers are convinced of the credibility of the brand once they associate it with a celeb. Moreover, official long-term celebrity deals are extremely expensive so it’s better to gauge your brand’s net worth and the amount you are ready to shell for an effective long-term celeb endorsement.
UNOFFICIAL CELEB ENDORSEMENTS CAN BE WELCOMED: (SOCIAL MEDIA PAID PARTNERSHIPS)
This has become a trend in the social media age where there is an abundance of pay-per-action deals. Celebs payment as per the action they take. You can send them free products and ask them to do a review of the products. Their reviews will attract their followers and also help in marketing the products. Many beauty products have been able to generate sales through this formula on social media like Instagram, Youtube, and Facebook pages. Nowadays Instagram has become a paid marketing channel for many celebs and Youtubers who endorse products per post and earn accordingly. This sounds like a more lucrative option for small brands that can try out diverse types of brand ambassadors for their products.
OFFER EQUITY STAKE TO ACQUIRE A GRAND PROMOTION SHARE
This is a more economical option when celebrity endorsements are concerned. This means a celeb might take away a share of the company’s profit in return for endorsing the product and the brand religiously. But then you have to be 1000 percent sure that the celebrity’s relevance and fame won’t fade away. You also have to be certain that the celeb relates and believes in the ideals of your brand. For example, most beauty and make-up brands go for popular movie divas and models who endorse the standards of beauty and make-up. This makes the brand even more visible to the public eye and triggers women to go for products endorsed by their favorite stars.
MAKE THEM STARE AT THE REVENUE SHARE:
This is when a celebrity endorses your product for a cut in profit of that particular product or a cut in profit of the overall revenue. Many Successful Start-Ups and E-commerce companies are succeeding in this method. If your brand is having large sales potential, even a small percentage of the profit revenue will be quite a sum for a celeb. Example celebs like Virat Kohli (WROGN) Hrithik Roshan (HRX) and many others have huge revenue shares in these brands.
PROMOTING CHARITABLE CAUSES:
One of the biggest examples of charity in India is none other than Salman Khan’s ” Being Human”. This is a brand by Salman Khan himself. The profits of the business are used towards social services which also indirectly promote the company. Celebrity affiliation with UNICEF is also a common example of charitable endorsements of celebrity marketing.
With a host of options available for your brand, celebrity marketing is no longer an unattainable and super expensive marketing option for brands. Several small and medium-sized brands are getting an opportunity to get associated with celebrities on Instagram and Facebook expanding the scope of celeb marketing.
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