Our company is ready to try a different kind of marketing campaign, and we’ve been thinking about pursuing celebrity endorsements. How much can we expect to pay for something like this?
Wow, that’s a pretty broad-ranging question. Celebrity endorsements come from a huge range of sources, including YouTube personalities, pro-athletes, musicians, TV actors, and film stars. In addition to that, factor in the different types of endorsements you can pursue—print ads, TV, social media, one time, repeating—and you’re looking at a fairly complicated answer. Also, how much time and effort are required from the celebrity make a difference in the price they’re willing to accept.
What I can tell you is that the best way to narrow down your cost is to figure out exactly what you’re looking for and do a little research. The current popularity level of a celebrity is a big factor when it comes to costs. You can get a good idea of where your targeted celebrity fits into popularity rankings by using the website Q-scores. It also helps you figure out how well recognized the person is and whether fans tend to trust them, which can be important factors in choosing someone to endorse your brand.
Keep in mind that endorsement contracts are negotiable. And, you don’t want to blow your whole budget on paying the celebrity. You’ll also need to include things like equipment, supplies, travel, and other accommodations into your budget, if they’re needed to complete the endorsement.
Please log in to post questions.