This is obviously the key ingredient in determining your overall strategy. Based on lots of practical experience and much diligent research into the subject, it seems apparent that a well-placed celebrity endorser can dramatically impact all phases of your business. The key is to find that one celebrity that fits the mold you are working from. The tremendous impact, goodwill, referrals, continued sales, and repeat customers that celebrity endorser can provide is incredible. While it's seemingly tough to determine the value, the reality is that it's easier than one might think. In our vast experience we have found that the key to finding the perfect fit is to know what you as a company are looking for …without that knowledge, you are rolling the dice. When talking about an expenditure on this level it never pays to roll the dice. You need to formulate a very specific strategy as to overall goals and then accurately, intensely, adequately, and with piercing precision, hone in on your target with a razor sharp tactical launch.

When considering what you are trying to accomplish with your company, you need to so with precision and make sure that every aspect of the overall strategy is driving you towards your goal. Your goals can be many and varied, however, your main goal should be centered on the added value and to what extent that value will drive overall sales. It doesn't do you much good to have a one- day promotion and only see a days worth of extra value. That might work well if you were selling cars and because of the endorser you sell an extra 10 cars at $40,000 each. Realistically, that doesn't happen very often. Always consider long-term benefits and ways that you can extend the promotion far beyond the actual appearance or endorsement.

The name of the game is brand exposure and its maximization. By carefully orchestrating your plan, you will reap benefits over the long term. Here is a simple example we have used a few times. When we have athletes making an appearance we always have a nice stack of 8 x 10 photos (in fact in most cases we have the athlete call their source for photos and we take advantage of their discount which reduces the cost to the customer) nearby so when that athlete isn't busy, we have them sign the photos. Photos are quick and easy to sign and you can get a lot signed in twenty or thirty minutes. Sometimes, celebrities can sign as many as three hundred to four hundred an hour. If the picture costs $1.50 and the athletes signature is worth $15 in the open market, with possibly a much higher perceived value, then getting a hundred or so photos signed for a back end sales promotion really makes a lot of sense. Once you have the signed photos, you can save them for a rainy day and run a special promotion. For example, when your customer purchases $100 worth of goods they receive for FREE a signed picture. Good will also brings in new customers.

A careful evaluation of your company will usually determine the potential value of using an endorser. Who are your clients? What age group? Are they male or female? What is the lifetime value of a customer (this helps you to determine what you can spend on a celebrity endorser)? What is the competition doing? More than likely, using an endorser will separate you from the competition, providing you with a clear market advantage. According to an American Public Opinion Survey and Market Research study, more than a fifth of all advertising today features a famous face, voice, or image. It also further states that almost 72% of consumers who bought a product pitched by a celebrity said that it was the endorser who first grabbed their attention. Powerful stuff, wouldn't you agree? Celebrity sells and continues to sell. But why? Many theories are floating around, but the most interesting one is the fact that we as consumers are somehow pre-programmed, hardwired if you will, to pay attention to celebrities. We think of them as people we can trust even though we don't know them personally. In many instances we think of them as friends we can trust. Another less obvious reason is the repetition of seeing a celebrity over and over again. We become accustomed to seeing their smiling face…they become believable. We tend to think, if it's good enough for the celebrity it must be good enough for me, even though there is absolutely no basis for such thinking.

In the end, it all boils down to your brand profile and finding a creditable celebrity that matches your needs.