The power of celebrity is like catnip for marketers. Celebrity or athletic association adds an aspirational edge through outright paid endorsement or coveted “as seen on” editorial placement. In the world of beauty, brands from Cover Girl to L’Oreal add a sheen of glamour to their brands through celebrity spokesmodels. In the field of sports marketing, brands from Nike to Gatorade borrow equity from high-powered athletes to bolster their athletic credentials. And in retail, mass retailers from Macy’s to Sears offer eponymous product lines from celebrities as diverse as Sean Combs to the ubiquitous Kardashians. Q scores are tracked, contracts are negotiated, and millions of dollars exchange hands. But is it worth it?
If you ask consumers how important celebrity endorsement is to their brand selection, most will vehemently deny it. In fact, our North American Consumer Technographics® data shows that only 19% of consumers rate celebrity or athlete endorsement as important when picking a brand. But most people will probably tell you that advertising doesn’t affect them either. So we decided to dig a little deeper. Forrester conducted a driver analysis in the big-box retail category to identify which category attributes and behaviors have the most meaningful impact on key outcomes like being a more trusted or essential brand. Our research showed that in big-box retail, celebrity or athletic endorsement:
Earlier this summer, I attended an Experian marketing conference in Las Vegas, where I was rather surprised to see WWE champ John Cena on the agenda. Intrigued, I stuck around for his late afternoon session to see what he had to say. I’m glad I did. It turns out John Cena is a great brand builder. This Massachusetts-born native is a $100 million brand with 5.3 million Twitter followers and more than 15 million Facebook fans — just behind Kobe Bryant at 16 million. What’s his secret? Here are three brand-building lessons from John Cena:
Be customer-obsessed. Forrester believes that in the 21st century, the single source of competitive advantage is to be customer-obsessed. Cena gets this. He understands that his brand is only as strong as his relationship with his fans. And he takes that responsibility seriously. Cena claims you won’t find pictures of him at a Miami club, surrounded by a bevy of scantily clad women. His tweets depict his clean-cut image and are PG-appropriate.
Guide your journey with a clear North Star. Leading brands guide their brand, messaging, products, and organization by the light of their North Star — that core brand essence. Oreo’s North Star is to “celebrate childhood.” Cena guides his career with the mantra “hustle, loyalty, and respect.”
Build a trusted brand. Cena is trusted by his fans because he is authentic and passionate about who he is and what he does. As he commented, “you have to be authentic, even when you are falling down in a fake fight in a fake universe.”
Marketers have long relied on brand health trackers to take the consumer pulse of their brand-- to measure brand awareness, consideration and purchase intent. But with so many customers’ opinions now readily available through social chatter, are these entrenched and expensive budget line items still necessary?
Not so fast. Today’s brand measurement world is more complex than ever. Consumer behavior is changing rapidly and marketers have gone from data famine to feast. Today’s Chief Marketing Officer (CMO) needs trusted advisors to help her turn mountains of data into actionable insights. Forrester has identified three core disciplines of brand measurement to help marketing leaders navigate this complex landscape. These three disciplines are:
Brand equity reveals what people feel about your brand. Evaluating brand equity helps CMOs understand how consumers perceive a brand, without consideration for brand usage. What does the brand stand for in the eyes of a consumer?
Brand health quantifies the strength of a brand in the marketplace. Measuring brand health helps CMOs understand the relationship between how consumers perceive a brand and how that manifests itself in the marketplace relative to competition.
Brand value quantifies a brand as a financial asset. Quantifying brand value helps chief financial officers (CFOs) understand the financial value of a brand to a corporation. It is most commonly used for financial reporting to define goodwill, the value of an acquisition, or the appropriate price for licensing.