The Olympics may be over, but the excitement is just beginning for the world of swimming. Thanks to world record-shattering performances in the pool, the Michael Phelps name is poised to become one of the most powerful brands in sports. Some say his equity is already strong enough to launch an entire company.
A big name can do a lot, giving personality and shape to an otherwise amorphous brand. Nike, who successfully partnered with Michael Jordan as both an endorser and eventually the namesake of the Air Jordan product line, has proven time and time again that brands can inherit the positive attributes of their spokespeople.
And sports celebrities are not the only names that carry value. Jerry Seinfeld is slated to become Microsoft’s Newest endorser, for a reported $10M. This move is likely combating Justin Long’s “Mac Guy” personification which has helped reinforce Apple’s hip, young image.
But what happens when endorsements go bad? An article on CNN.com outlines the pitfalls of tethering a brand to a personality, citing damaging match ups such as Madonna and Pepsi, Pfizer and Robert Jarvik, and the Dell Dude.
Even if a celebrity is not on the payroll, sometimes they become accidental spokespeople for their favorite brands. Britney Spears seems to always have an item from the McDonalds menu in her hand, making her an unpaid but quite public endorser of the brand, whether brand managers like it or not.
Clearly, tying a brand to a person is a calculated risk. Real people can humanize and personify the products they endorse. But in being ‘real’, by nature, they are flawed, potentially bringing undesirable and sometimes adversarial qualities to the table.
Contributed by: Maghan Cook