Apr 19, 2022
Celebrity endorsements have been part of the advertising game for decades, and over the past decade that has manifested into a plethora of social media marketing campaigns using famous folks as well as the rise of “micro-influencers” alongside the stable of paid talent promoting any number of products and services for business across the globe.
Influencer marketing has emerged as not only one of the fastest-growing ways to attract and maintain customers for a brand but also one of the most effective forms of inspiring brand loyalty. But it has to be done right. It has to be authentic and ethical – and since July 2020 there has been an Australian code of practice that affects PR agencies, talent managers, influencers, and brands.
My guest today knows firsthand the harsher realities of celebrity endorsements and says that such endorsements are not a guarantee of success for a brand – or even sales. Philip Masiello is one of the founders of CrunchGrowth Revenue Acceleration Agency, one of the fastest-growing marketing agencies in the nation. He is renowned for his e-commerce and Amazon selling expertise. He is also well-known for his entrepreneurial talent, having launched five unique international brands since the age of 25.
In addition, Phil is an investor in several interesting startups as varied as digital games, the circular recycling economy, real estate, and personal care products. In addition to providing capital, Phil uses his marketing expertise to help these startups to scale faster.
Phil tells a cautionary tale – sharing a view many brands get enamored with celebrities and think that is the key to success. But it can work against you as much as it can work for you.
In this podcast, you will hear:
- How Phil founded a skincare line with a supermodel for one of the shopping channels but while she had credibility in the space–she had written books on the concept and was genetically blessed, this business partnership wasn’t a slam dunk.
- In a more cynical consumer world, is there any way to ensure these endorsements can last beyond one campaign?
- Are new regulations going to make using celebrity endorsements harder for brands to create financial value in? For example, someone getting in a celebrity one-off paid endorsement that has millions of YouTube or Instagram likes but no sales does happen.
- Does using influencer-style paid posting take away from the authenticity?
- Take away: What is your final takeaway message for us on The Politics of Celebrity Endorsements?
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