Celebrity Endorsements: Are they worth the Investment?
- September 6, 2022
- SponsorPulse Staff
While many marketers believe hiring the most famous celebrities is the key to promoting their brand, this isn’t always the case. If you’re looking to pitch a celebrity sponsorship in your next stakeholder meeting, here’s what you’ve got to know:
Celebrity Endorsement: The Cost
In recent years we’ve witnessed emerging stars, from NCAA athletes riding the highs of the NIL era, to micro-influencers who have serious pull in niche digital spaces, making waves in the sponsorship space.
Celebrity sponsorship is a powerful space to play and with the right strategy, it can be accessible to brands of varying budgets. That being said, the cost of endorsement stretches widely across all celebrities and micro-influencers and depends heavily on what type of endorsement you’re seeking. For instance, one social media post won't be charged the same as a full-scale ad campaign airing on prime-time television.
After considering the type of sponsorship you want to secure, determine your budget. By going into meetings armed with a number, you can determine right away if the celebrity is the right choice for you based on their rate. Remember – agencies want to get their clients work. So even if the celebrity you initially wanted is outside of your budget, their manager will likely have another client that fits the bill.
Is Celebrity Endorsement Effective?
To answer that, let’s take a look at Paige Bueckers. The rising basketball star has been making serious moves on and off the court. One of the trailblazers of NIL, Bueckers is a 20-year-old NCAA athlete who has signed partnership deals with Gatorade, StockX, Chegg, and now, Crocs.
Our celebrity scorecards report that despite her recent ACL injury that has sidelined her upcoming season, Bueckers is going toe to toe among fans with Lebron James, the greatest in the game, and even leading him in a variety of categories we test for. Despite the fact that Bueckers is a new star on the hoop scene, her name recognition and brand deals are soaring, demonstrating that celebrity endorsement is a powerful vehicle to drive ROI.
SponsorPulse Celebrity and Influencer Scorecards
Introducing – SponsorPulse Celebrity and Influencer Scorecards. In an effort to promote transparency in the evolving world of celebrity sponsorship, we’ve developed a celebrity measurement product that enables our community to build lasting customer relationships through endorsement marketing.
Book an interactive demo today to get granular with our celebrity and influencer scorecards and see who could be the face of your next campaign!