Endorsements of your online promotion campaigns
This isn’t about finding a random person to tell your audiences the material you produce is worthwhile and intriguing. It is about being proactive and talking to your marketing teams to find ways of sourcing endorsements in order to confirm the quality of your work . We are currently sourcing real life business people to endorse the work of a Business School and to hopefully be the final component in our promotional activities.
Will this really work within the Higher Education sector?
A study called “The Economic Value of Celebrity Endorsments” Anita Elberse and Jeroen Verleun, Vol. 52, No. 2, 2012, pp.149-165, accepted for publication at the Journal of Advertising Research, looks at stock market valuation and sales data for a raft of athlete endorsements. The authors found that while stocks go up roughly a quarter of a percentage point, on average, with a celebrity endorsement, sales for products endorsed by athletes go up by an average of 4%. They also found that these sales boosts can be reinvigorated by a career achievement – an FA cup medal for Aaron Ramsey, an Olympic Gold Medal for Usain Bolt or becoming the new presenter of BBC’s Newsnight. (A caveat: The sales benefits diminish with each win, while the stock-return effects stay constant; investors, it seems, are more impressed with an athlete’s staying power than consumers).
It can be argued that we are not selling stocks or readily available products, but we are exposing the additional selling points of the student experience. If it works with stocks, can the practice be translated across other products?
So, what accounts for this celebrity effect? Endorsements could be a signal of quality – but the modern consumer is sophisticated. They know money is changing hands. At a deeper level, we seem to crave connection to the famous and the powerful. When producing endorsements within our settings, we try to make it known the connection of the ‘celebrities/speakers’ is accessible and open to all that are willing to join our community. A way in which we try to achieve this is by interviewing the endorser and advertise the fact they were with us and in turn document any evidence that they do endorse us and what we do.
In addition, the researchers tested how much people would be willing to pay for various objects that had been handled by either a celebrity the participants admired or someone famous they considered evil. So be careful who decide to capture as your endorser.
Here are a couple of interviews we’ve conducted to help demonstrate and advertise why our institution is a great place to be. You could say we are lucky to meet these high profile speakers, but we make our own luck.
Evan Davis – BBC Newsnight presenter
David Dein – Former Arsenal and FA Vice Chairman
I was particularly pleased with this interview, more so because of who David Dein is associated with.