Max Ritz is Director of Adrenaline Apparel & LXM Pro (firstname.lastname@example.org). In this video he shares the secret to maximizing endorsement spend.
- Shoose an endorsement that fits your future demographic
- Find an appropriate influencer
- Structure a deal that motivates over the long term
Endorsements are a fun and exciting way to revitalize your company if in otherwise down period. You grab a big athlete, a big celebrity, a show, a professional sports team. Something very trendy and very relevant and it can catapult your brand into an area where you wouldn't expect and really get your employees behind you.
First the step in this process is to identify your future demographic and direction. You wanna make sure I'm picking somebody with longevity who understands branding, working with an agency possibly to make sure everything about your brand is being considered in the process.
Number 2 would be the hone in and the right kind of influence served. Metrics are everything but there's many people with the same amount of capabilities. You don't wanna grab someone with X amount of Tweeter followers for someone versus Y amount when it's quality versus quantity.
Structuring your deal is absolutely paramount. You wanna make sure someone is motivated over the long term through the ups and downs of your business but is absolutely bought in for the turn.
Endorsements are a great way to grow you brand in a certain direction. Make sure you define that direction. You have the right kind of influence there and the deal is absolutely structured to make sure you're gonna capitalize.