Celeb Endorsements: Preparation strategy

Continuing with discussions on Celeb endorsements, here are some steps companies interested in celeb endorsements can take and avoid running for cover when hell breaks lose...

THE STRATEGY PART: be prepared than sorry:

CRISIS SCENARIOS: Ex: Say stalker violence against Woods or a family member, somebody embezzling millions from woods, a member of Woods’ entourage involved in a drug or sex scandal. 

CAN'T PLAN THEM ALL! If the scenario is different: understand the trigger points- let the celeb know about its criticality. Try to get full disclosure but go ahead with whatever springs up.

QUICK ON FEET: End victim production- Arrest the guess work and start victim management employing NDAs, settlements etc.

In case of company crisis: Employee Communication, degree 1 communication should come foremost. Then move outwards to degree 2 and 3.

KEEP a TAB- Yes on their potential dark sides.

EXPERTISE: Try to pick a celebrity who has direct expertise in the problem your brand solves. The celebrity should be a core user of the brand and someone who is highly credible with other users.
Tiger lends the Accenture brand equity through indirect expertise - in this case his focus and judgment. 

WHO IS ENDORSER? Who is gaining out of the relationship? In Accenture, Tiger has more to gain. Federer and Rolex is near ideal-with Rolex having more to gain, as it should be. In Indian context Rithik with Reliance, A.Bachan with Cadbury are fine examples of how it should be.

QUESTION OF BORROWED EQUITY – how the other brands that he/she endorses go about with yours! Tiger was doing so many other high performance product ads that Accenture’s relevance does decline if not diminish. Will an Accenture client become more of a performer with Buick, with a Tag Heur watch, with Nike clubs on a PGA course?
IS IT A ZERO SUM GAME? At the same time borrowed equity has worked wonderfully for Nike over the years – every time you see an Accenture ad you have a swoosh of NIKE right in your face.  

   
DIVERSIFY YOUR MARKETING ASSETS- Easily said then done.



DO YOU REALLY-really NEED A CELEB? Celebrities are ideal for consumer goods, children needs and lifestyle products, which are primarily targeted at women, children and students/ youth.