Celebrity Marketing Mistakes That Need To Be Avoided
Celebrity endorsement can so easily increase sales but it can also end up hurting the brand when you make many possible celebrity marketing mistakes. It is not enough to find a celebrity and have it recommend your products or appear in ads. You need to make sure that there is a really well-built strategy behind the promotion campaign and you have to always avoid the following (quite common) mistakes.
Negotiating Prices For Celebrity Endorsement Without Research
You find a great celebrity. The person asks a specific amount. You agree. This is such a bad approach. You want to always research everything associated with celebrity marketing so that you can figure out how much profit you can gain from the association and to figure out how much you can afford to pay. In many cases you will need to look for another celebrity when the one considered asks for too much money.
Lack Of Clearly Defined Terms
It is vital that you always define everything that is associated with the campaign. Many problems can appear like jumbotron rights or number of Tweets to be done by the celebrity. Negotiating the best possible deal is always something that is necessary, together with defining all the terms. If something is not added in the contract, it can be a problem.
Pre-Negotiating The Terms For The Next Term
When a contract is close to be finished, it is possible that there are some negotiations that start and that are hurried. Tight deadlines can easily keep you focused on the campaign that is run at the moment and you can overlook that additional term. When it is time to renegotiate the term, there is a lack of preparation that is present. You want to pre-negotiate but you want to do this in a really proper way. Fees can easily change and an increase of around 20 percent is normal. More is something that needs to be properly assessed.
Choosing The Wrong Celebrity
This mistake should be quite obvious but it is much more often seen than what many believe. You want to be sure that you are going to choose the right celebrity. At the same time, you want to include some sort of get out of jail free clause. There are situations in which the reputation of that celebrity is drastically affected by something that happened. In this case, endorsing your products may hurt you. It is vital that you are protected from such a situation.
Always consider all the celebrities that would be a good fit and that are respected by the target audience you have at the moment. You cannot simply choose someone that has a huge social media following if that individual is not perfect as a brand ambassador.
Working With A Celebrity Marketing Lawyer That Is Not Experienced
You want to have a great contract. We already mentioned that. This means that you want to work with a celebrity marketing lawyer that is really experienced with such a business partnership. Never hire a lawyer that does not have experience in drafting celebrity marketing contracts.