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Are Celebrity Endorsements effective?

Celebrity Endorsements is not a new concept. The practice has been around since the 18th century, as Josiah Wedgwood, the founder of Wedgwood, used royal endorsement to create a heightened value for his products. In earlier times the share of celebrity endorsements was a minimal 5-7% or even less, however in the current times of thriving media, the share of celebrity endorsements in the endorsement world has gone up to 45% in the market.

Advertising is one of the strongest tools used by the marketers which they use to communicate about their product, services policies and various schemes to their consumers. Marketing agencies need to constantly innovate in order to attract customers. They use catchy slogans and innovative advertisements. But for the people to pay attention to these ads in the first place, they need celebrities. Multiple research studies have shown that celebrity advertisement increases brand awareness and recall, attracts celebrity fans, encourages trials and enhances purchase confidence. Celebrity Endorsements increase a brand's image in the market and help increase sales.

- Having a celebrity in your advertisement attracts the customer's attention and stimulates brand recall. Celebrities help the brands to become known in the market.

- The stock prices are usually positively impacted, as soon as a celebrity collaboration with a brand is announced. Sometimes Celebrity Endorsements help a failing brand become successful.

- Since most celebrities have millions of followers across Social Media platforms, when they associate with a brand, they create a lot of buzz and sometimes create new trends. Due to this tremendous amount of brand awareness gets created. Their followers end up purchasing a product, if the celebrity just posts a picture with the company's product.

-Since a large number of people look up to celebrities as their role models, celebrities act as opinion leaders and influence buyer's perspective.