Marketing in a nutshell is expensive. It requires any business owners to have a marketing plan to be guided on what they want to happen for their product so they would know which way to go for the advertising of their products. There are an array of marketing products that can be use to spread out the word about your product. One of which is to make use of celebrity marketing. Celebrity endorsements can make a big difference when you want to reach your target market fast. Once your product is seen in any of the celebrity appearances is, people can easily build recognition from it. However all the marketing strategies available for use has its pros and cons. Here are some pros and cons on using celebrity endorsements:
Boost up name recognition
You are paying for the name of the celebrity that will be endorsing your product. If you are hiring a very famous celebrity on launching your product in the market, even if it is a new product, the news about it will spread faster that you can project it to be. The reasons why business owners use celebrity to endorse their product is that it saves them time on waiting when it can be known in the market. Once this happens, business owners can focus on how to maintain the popularity of the product created by the celebrity.
Increase market reach
It is a given that celebrities have this certain effect on the consumers’ market. People idolizing them would want to use what they are using and even people don’t know them but sees them most of the time on their TV screens or billboards will give them a push to give the product a try. Even if you have certain target markets for you product, there is a possibility that you can reach bigger market because of this strategy.
Build product credibility
Celebrity most of the time if not all the time will always protect their name in the entertainment industry, thus this will also give your product the credibility you want to build for it. Consumers would think, a celebrity will not endorse a product that is not trusted so they trust the endorser resulting for them to trust the product as well.
Buyers can be skeptical
No matter how an endorser can be famous, you can’t expect that the celebrity can please everybody. Celebrity endorsement can also be a cause that consumer can be skeptical on the quality of the product. business owners would have the challenge to keep up on backing up a few other marketing strategy for the product.
The fee for celebrity is expensive
This can be one of the downside for using a celebrity to market your product. You are paying for their name but how much can you afford if they can’t bring in the revenue and outcome you expect from them to bring in for the business’ success?