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Endorsing Your Brand Can Be Risky Business
It is no secret that when choosing a celebrity or public figure to endorse your product, you are stepping on dangerous turf. Essentially, you are trusting that this individual will maintain a proper public appearance for the duration. But you can never be sure if the tide will turn.
You can argue that sponsoring a person endows an unspoken promise that they will stay clean in return for the millions of dollars you are feeding them regularly. But this, many times, is not the case. Being in the spotlight provides a greater risk of the figure being caught committing an act deemed politically incorrect.
It is vital that if your business chooses to endorse your products through celebrity or public figures, you understand what you are getting into.
If I haven’t gotten my point across yet, let’s take a look at a well-known, recent case in which a celebrity endorsement didn’t quite go as planned. Last year’s Tiger Woods scandal put a damper on many businesses’ advertising. With their used-to-be respected idol as the face of their ad campaigns suddenly shameful in the eye of its public, the companies had to quickly decide whether or not to cut ties.
For one of Mr. Woods’ largest sponsors, Accenture, it was an easy, immediate farewell. Now, with its marketing team in a dilemma to come up with a new campaign, Accenture ultimately decided on sticking with the animal theme, minus tigers, to promote their business.
Tying your brand to a celebrity creates risk and risky bets create liabilities. How a company handles this speaks volumes about an organization’s integrity and performance. Accenture discarded its “problem child” right away while other companies including Gillette and AT&T pulled their ads but kept their sponsorship.
Appearing as a happy solution for Accenture who has now cut all ties with the former company figure, Tiger Woods had other plans. Scheduling a press conference right in the middle of the Accenture Match Play Championship, Tiger Woods was sure to take away from its ex-sponsor’s signature event.
So was this large company smart in pulling their sponsorship the way they did? Or did its competitors have the right idea by sticking by their commitment?
Endorsing your brand through celebrity figures is risky business. How you handle potential situations, such as that of Tiger Woods, could affect the perception of your company even more than the initial indignity.
