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What’s the Value of Celebrity Endorsements?

What’s the Value of Celebrity Endorsements?

Marketers today are not hesitant to play the “celebrity endorsements card.” Society often obsessed with Hollywood. In fact, an endorsement by a well-known personality usually goes a long way. Yes, it can seem a little ridiculous. Nevertheless, the effectiveness of using celebrity endorsements to market a product is effective.

Celebrity Endorsements Work

A recent Taiwanese Study found that around 10 percent of the billions spent in the U.S. on advertising. It was paid out to famous celebrities. In the same study, advertising endorser increased the perceived value of the product. By deepening consumers, impression with connected product value. They transfer their feelings to the product.

Celebrity endorsements rely on a basic principle of psychology.

Subconsciously, consumers opt for celebrity-endorsed brands. In a world of endless options, celebrity-endorsed products have a higher perceived value. Robert Cialdini, a marketing and psychology professor at Arizona State University. He shared more on this concept with the New York Times in 2008.

 
“We’ve used our cognitive capacity to build a sophisticated informational environment. Overloaded with information and stimulation, shoppers’ brains revert to a more primitive way. In the association of celebrity and product.

Celebrity endorsements are more effective in certain demographics, however.

A 2015 Nielsen study examined the effectiveness of celebrity endorsements.

Naturally, the study showed that celebrity endorsements held much more significance to those aged 15-34 than it did with older people. In fact, the study also places an emphasis on geographic location. Celebrity endorsements are effective worldwide in general. Its effectiveness has increased in the Asian Pacific and African/Middle Eastern regions.

Celebrity Endorsements are not just TV commercials anymore.

It is no longer limited to the format of a famous person standing on TV and telling you about a product. It can happen through:

  • Advertisements
  • PR Events
  • Social Media

You’re probably familiar with celebrity endorsement through advertising. These are the magazine, for example, covers, billboards, TV commercials and other traditional forms of advertising. Marketing professionals have been using celebrity endorsements. Furthermore, ever since the concept was introduced in the 1760’s by Josiah Wedgewood and Sons. The company used a royal endorsement to boost sales of their china and pottery.

PR events are less common but important to certain niche markets.

PR events would be classified as an event that garners a good amount of public attention. A good example of a successful PR is the annual Victoria’s Secret Fashion Show. The event was the first broadcast on network television in 2001. It garnered over 12 million viewers during that time. The hype was amassed through the celebrity of Victoria’s Secret’s “Angels,”. As well as musical performances by Mary J. Blige and Andrea Bocelli.

Social media is a huge influencing factor in modern celebrity endorsements.

Celebrities have enormous followings on social media platforms. For example, Twitter, Instagram, Facebook, Snapchat and more. All of these platforms are viable tools for a celebrity endorsement. It gives direct-to-consumer access to brands looking to advertise this way. Consider Taylor Swift’s 107 million Instagram followers. Barack Obama’s 101 million Twitter followers, or the Youtuber PewDiePie’s 8 billion views on the site. Numbers like these, social media endorsements are of very high value to advertisers. Celebrities are sometimes paid as high as $300,000 for a single piece of sponsored content. They get it on the most valuable social media channels; as a result, it gives direct-to-consumer access to brands looking to advertise this way especially when you consider it

You may even still remember some of the most iconic celebrity endorsements.

 
Pepsi is well-known for their partnerships with celebrities to further the brand. For example, they even sponsor the Super Bowl Halftime show every year. In the early-2000’s, Pepsi formed a partnership with Britney Spears. Spears starred in several commercials through the years and in a way became the face of Pepsi. Her singing and dancing brought great success to Pepsi.
 

What about Fabio and I Can’t Believe It’s Not Butter?

 
What goes together better than an iconic Italian-American sex symbol and butter substitute? The partnership between the two began in 1994 for that reason. Besides that, Fabio has featured in ads for the company as recently as 2016.
 
One of the most longstanding icons in the celebrity endorsements is Bill Cosby. In addition, Cosby was the spokesperson featured in many Jell-O Pudding commercials. Although he is no longer active as a spokesman the association still resonates with all ages of people.
 

Celebrity endorsements are just one arm of expansive marketing efforts in modern society.

 

Advertisements are everywhere. In fact, they always evolve. Advertising techniques will change without a doubt. It is likely that celebrity endorsements will remain in some form. However, it’s natural to find perceived value through recommendation.

Many consumers trust a celebrity. Although sometimes the format change. What will remain the staple of advertising is celebrity endorsements.

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