What Benefits Can Celebrity Branding Bring Along For Your Business?
In marketing, celebrity endorsements or celebrity branding is nothing out of the odds! Celebrity branding is a type of marketing or advertising strategy. A marketing campaign cashes on a celebrity figure’s star status, fame, and societal role to promote any product, service, or brand. Brands can also use it to address any key issues about the brand. In common parlance, marketers mostly resort to celebrity endorsers. This is simply because the general public feeds on the ‘image,’ a positive star, who successfully passes it on to the very brand or product’s image.
Now, several brands do not merely subscribe to the theory of ‘celebrity endorsement.’ But for the most part, since people tend to idolize celebrities, it’s evident that famous people seen in advertisements and campaigns will result in greater sales of the product after that. After all, the audience will want to purchase that directly or subliminally.
What Is Meant By ‘Celebrity Reach’?
Celeb possesses the typical attractive trait or ability or potential to reach a greater number of prospective consumers. This is the main reason why celebrity endorsements will always rank higher than most of their counterparts. In simple terms, you can define reach as the total number of people who understood the brand’s intended message after viewing or listening to it even once.
Just in case a company has considered the use of celebrity branding for marketing their products, it shows the team is keen to reach a greater percentage of the population than a small section of the people, but frequently. You can gauge the celeb’s reach using measurements like the celebrity’s social media accounts like Twitter, Facebook and Instagram, and Snapchat. If the celebrity is an A-list one, the reach is probably in the millions.
How Important Is Brand Image?
The emphasis is more on choosing a dependable and trustworthy celebrity figure to endorse a company product or service. At the same time, it is also important to balance the celebrity’s star status, power, attractiveness. There must be an alignment of the celeb’s public image against that of the company’s present or ‘intended’ image of the brand.
Defining brand image implies the ‘set of beliefs held about a particular brand.’ Research by Keller & Aaker in 1992 suggests a brand having a positive brand image and attitude, possessing a greater likelihood to attain heightened development inside the relevant market. So the celebrity chosen must be someone who would match the existing image and attitude of the brand. That way, the success of celebrity branding is guaranteed.
How Do You Define Brand Recognition?
In celebrity branding, brand recognition is significant. That is because the layman can establish a brand with the attributes even without the company name. Customers recognize brands through visual signifiers like colors, slogans, logos, etc. Companies often conduct experiments on study groups to measure effectiveness and recognition. This is especially in terms of promotional campaigns. When brands are almost similar, brand recognition benefits from rendering greater sales figures.
Advantages Of Celebrity Branding
As a result of expanding the market, higher sales became a reality, which eventually became a “multibillion-dollar company”. To build on brand equity, rely on celeb endorsements. This strategy works supreme for advertising, promoting brand recognition, recall, and differentiation.
Furthermore, customers can identify ads just by seeing the celebrity who now features in most brand products or a specific one only. Most customers are hence led to purchasing the same! Now, if a brand doesn’t resort to celeb branding, chances of excelling amidst competition look bleak. The brand image can be refined and reach out to a newer and wider market. Repositioning is common, and that would help in advertising the brand well.
Nowadays, celebrity branding is akin to a robust marketing strategy that appeals to several new customers. Apart from having a tremendous influence on society and projecting themselves as opinion leaders – this process leads to market expansion.
Within an instant, celebrities can capture the consumer’s attention and relate to the brand, leading to better sales and healthy competition with several others. The connection built is sometimes so great that loyalists often do not forsake the brand. This happens even when newer brands and products come up! Do you have a favorite brand that you recognize because of the celebrity? Do let us know in the comments section!
More in Business & Finance
Here’s Why You Should Think Way Beyond Emergency Savings
While people in the United States lay their hands on tax refund checks and stimulus checks, they often wonder what use...June 27, 2022
This Is How You Can Start A Recycling Business In Your Area
Recycling requires some concrete investments, but you can definitely start on a small scale. If you are someone who wants to...June 22, 2022
Biden’s three options for student loans
A student takes a loan as money from the government or a private lender for college for their studies, which they...June 20, 2022
NFTs Will Change What the Entertainment Industry Looks Like: Here’s How
Non-fungible tokens (NFTs) are digital collection authenticity certificates that serve as proof of ownership. These tokens were initially assigned to unique...June 16, 2022
Top Four Alternatives to Banks You Can Consider
Global inflation at this point is 8.5%, and as per the records, it’s the highest in the last 40 years. Additionally,...June 15, 2022
How to Grow a Small Business in 2022? Top Tips.
There are multiple reasons why 2021 was challenging for several small company owners. However, this year gives a fresh start to...June 13, 2022
Looking for the Best Mortgage Lenders in the Market? Four Tips to Make Your Search Easy!
Are you a first-time buyer? Congratulations, you will soon be a homeowner! We get it. You are apprehensive, pensive, and skeptical...June 9, 2022
What Is The Key Difference Between Millionaires And Billionaires?
One thousand million makes a billion. Therefore, there is a huge financial difference between the two. Millionaires usually are not comfortable...June 8, 2022
Five Steps to Keep in Mind to Enhance Your Mortgage Experience
The last few years in the mortgage industry have seen a sea change in implementing and integrating modern technologies. It has...June 6, 2022