Whether it’s Cindy Crawford promoting Pepsi or Shaquille O’Neal selling Icy Hot, celebrity brands are all over the market. But what sets the successful ones apart?
For one, a lot of thought and effort goes into building a brand that will gain consumer trust. This includes the use of a well-crafted marketing strategy and quality products.
Building a Strong Brand Identity
When it comes to building a business strategy, brand identity is key. It is what identifies the product to the consumer and sets it apart from similar products in its category. The most successful celebrity brands have a solid and clear brand identity that is consistent across all touchpoints. This includes all communication channels — social media, PR circuit, and even store signage. A strong brand identity helps to build trust and create a sense of authenticity for the consumer. Rihanna’s Fenty Beauty success was expected due to the way that she aligned her passion for makeup with a business that promotes inclusivity.
This is important to remember because a big part of the success of celebrity brands is based on whether or not consumers think of them as authentic. When consumers believe that a celebrity is truly passionate about the product, they will be more likely to support it.
A major way that celebrities create this sense of authenticity is by ensuring that the product fits with their personal values and lifestyle. This ensures that the brand aligns with their core beliefs and that they are able to communicate these values clearly and effectively.
In addition, it is important that the product is positioned correctly in the market. This includes considering the target audience, how the product will be promoted and sold, and if the product is relevant to current market trends. For example, a skincare line that is only targeted to women over 35 will not be as successful as one that is targeting all age groups and is highly visible on Instagram and TV.
Finally, the celebrity must be committed to the brand and act as a true founder rather than simply an endorsement partner. This means taking an active role in promoting the brand from in-store appearances to marketing campaigns.
Differentiating from Similar Non-Celebrity Brands
Celebrity brands often try to stand out from the competition by establishing their own unique identity. While this can help create a strong brand image, it’s important to remember that the celebrity factor isn’t enough to make a product or business successful. Instead, celebrity-backed brands must have a well-thought-out positioning strategy and add value to the market by exemplifying quality and addressing a need in the industry.
Many celebrities choose to partner with brands in industries they have a strong affinity for. For example, actresses have a natural tendency to want to support women-focused businesses. Many have built their empires by leveraging their fame to launch beauty, fashion and lifestyle products. However, if a celebrity doesn’t have the right passion for an industry or product, it can be difficult to build credibility and loyalty from consumers.
In order to be effective, celebrity partnerships must be a true collaboration. While some brands simply put a celebrity’s name or face on their products, others allow the star to fully engross themselves in the company. In this case, the celebrity acts as a founder and is committed to growing the business from in-store appearances to attending major product expos.
Other celebrity-backed brands are able to differentiate from non-celebrity brand competition by offering a different type of product or experience. Some celebrity-backed brands also leverage their stars’ fame and influence to attract investors or customers. Investors are more likely to consider a venture with a celebrity endorsement than one without one, and the perception of low risk can be especially appealing to young entrepreneurs.
While celebrity-backed brands are becoming increasingly popular, it is important for companies to be realistic about the potential impact of their partnership. A celebrity can’t solve all of a company’s problems, and some celebrities are more adept at creating their own brands than others.
Creating Authentic Products
Celebrities have a wide reach across audiences that can help bolster brand awareness. This can reduce customer acquisition costs as well as increase the longevity of customers. However, a celebrity partnership must ensure that the product is authentic to the celebrity’s interests and beliefs. Otherwise, it will quickly be seen as transactional and not a true representation of the brand.
It is important that brands focus on building a community and finding meaningful relationships with consumers rather than trying to rake in the cash with every sale.
A real partner will also work for sweat equity instead of cash fees, which is another way to show their passion for the project. This will be appreciated by consumers as they know the celebrity truly cares about the product and believes in its benefits. In fact, consumers are more likely to be positively influenced by a celebrity they trust and find authentic than one who is simply recognizable or physically attractive.
Furthermore, partners can open doors for the company by generating interest from key suppliers and investors. They may even receive preferential payment terms and product rollouts from retail channel partners.
In addition, a celebrity’s popularity can attract the attention of media outlets that can promote the brand and further drive sales. This is especially important for new brands with a limited budget.
While these benefits are significant, it is important to remember that a celebrity-backed brand is still a business with a profit margin that needs to be managed. For example, the 2017 failure of Fyre Festival served as a reminder that it takes more than just a celebrity name on a product to create a successful brand. Creating a strong foundation of value, strategy, and authenticity will ensure long-term success for a celebrity brand.
Become a Founder
Celebrities who truly become founders of their brands rather than simply endorse them are able to differentiate themselves and stand out from the celebrity-backed product saturation that is occurring in the direct-to-consumer market. To do this, they need to make sure that the brand is authentic and represents something that is true to them.
Additionally, it is important that the celebrity understands the product and business inside and out. This requires that they have a strong team of people around them who can help them navigate the intricacies of building and growing a business. For example, it is important that they have an accounting team to track revenue, a marketing team to manage social media, and a PR team to execute a comprehensive launch strategy. This is important because even with a celebrity’s influence, it can still be challenging for a new brand to gain awareness and momentum.
Lastly, celebrities need to make sure that they are committed to their brands and are actively participating in the growth of the company. They should be active in everything from in-store appearances to promoting their brands at the largest product expos in the country. This is the only way that they can ensure that their brands are successful and not just a vehicle for their paychecks.
Creating and growing a celebrity brand takes time and is not for everyone. However, there are many success stories of celebrities who have made this work for them, and they have earned the trust of consumers due to their genuine involvement with their brands. The days of slapping a celebrity’s face and name on a product to boost sales are over, and it is up to celebrities to work overtime to build quality brands that consumers will want to purchase because they are genuinely a part of them.
