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The X Factor: Why Celebrity Endorsements Are Good For Business

We live in a world of constant awareness. Everywhere we look, someone is always trying to grab our attention in any way possible, whether it's through television, newspapers, magazines and yes, even articles like this one.

Media is the monster that never sleeps. It's always on the hunt for the next big thing, and  perhaps more importantly, it's the way many companies do business.

For a business to succeed, many factors have to be considered. From goods and services to supply and demand, no stone can remain unturned.

This motto is especially true when it comes to sales. We constantly see companies trying to shove products down our throats through every means possible in order to gain customer loyalty and, above all, make money.

Once all options have been exhausted, there may or may not be other steps to continue growth.

If everything seems to be going along well, more power to you.

There are, however, plateaus some companies see themselves reaching simply because of the adverse situations they put themselves.

A company can resort to many options when it comes to being stuck in a rut.

Reinventing a product is perhaps a viable choice, and revamping its advertising can be considered. Reinvesting in the company is a definite must.

Let's face it: The best way for these companies to get over the hump in modern times is to buy a celebrity endorsement.

These days, we can't sit through an hour of TV without coming across a commercial of a public figure putting his or her face on a product.

Regardless if it's a professional athlete, a model, actor or musician, more and more businesses are resorting to people who are constantly in the spotlight to ramp up sales.

Current basketball stars are making us want to try mixed flavored soft drinks, actresses are asking about the contents of our wallets, and hillbilly comedians are recommending acid reflux medication.

Do these celebrities actually use the products they get paid to promote?

We'll never be able to tell, but the fact of the matter is this: They are bringing home the bacon for the people who hired them, and they're stuffing their own pockets with plenty of cash.

But let's not cover the sky with our hands here. Not all joint ventures go down smoothly; there are some partnerships that crash and burn and become controversial in the process.

Most, on the other hand, happen to be a match made in consumer heaven, and they make both parties involved a gargantuan amount of income.

I recently took a page out of from big boys and used this tactic to build a social media presence for one of my clients.

Currently, she is opening up a wellness spa in the greater metro area. The idea came a few days after I saw her reputable competitor buy a billboard close to a busy intersection.

The ad featured a local, half-naked glamour model as the face of the franchise.

After putting two and two together, I figured the best thing to do in order to establish an early cult following was to one-up her competition by sponsoring not one but two people in the industry with unlimited access to amenities.

In return, they would immediately check in on Facebook, Twitter and Instagram.

Additionally, they'll take “selfies” describing the services they're experiencing along with contact information and directions to the store.

Having many contacts, I've reached out to former Miss Universe contestants and IFBB bikini pros who have agreed to be a part of the startup.

My client is so delighted with this move that we're now tackling the male representatives of her future brand.

The best part of this win-win situation is that nobody has to tap into his or her bank accounts: It's a straightforward barter agreement.

Let's not kid ourselves: There's a warm and fuzzy feeling when we see one of our favorite personalities donning a product we've grown to love or a service for which we're a frequent buyer.

One can't help but think it puts us on a level playing field with people we tend to follow.

From a personal standpoint, that sense of belonging alone does wonders for a business.

A celebrity endorsement is an excellent marketing campaign capable of opening many doors that would've otherwise remained locked.

People who cast big shadows can provide you with a visibility of epic proportions.

Public figures are a great outlet to drive business and establish brand recognition.

If all else fails, consider bringing one aboard.

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Francisco Alvarez

Contributor

Francisco Alvarez is a life coach, speaker & entrepreneur. A graduate of St. Thomas University in Miami, Florida, his goals include an appearance on ABC's Shark Tank & giving a TEDTalk lecture.
Francisco Alvarez is a life coach, speaker & entrepreneur. A graduate of St. Thomas University in Miami, Florida, his goals include an appearance on ABC's Shark Tank & giving a TEDTalk lecture.

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