brand endorsements

The power of brand endorsements

Trust builds brands If some of my readers are into consulting, or any other type of services business, no doubt they are very well aware of the power of recommendations. A former client making a referral about you to a prospect, a powerful recommendation of your skills and achievements on LinkedIn, Klout +K’s that you collect -- any of these can signal trust, an essential element for building good brands. Likewise, if you are an author, the praise given to your new book by other authors or famous people is crucial, and can boost the sales of your book.

The Thank You Economy
The Thank You Economy

Our brain seems to be wired to perceive endorsements, recommendations and word-of-mouth in a very special way.

In particular, before we make a decision to proceed with a high-value project, we seem to give a lot of weight to the recommendations of our trusted friends and partners.

Whether it’s a need for a strategy for your business for the next 3 years, or a new house for your family, you need to be able to trust the people who will be delivering this high-involvement, high-value service.

Celebrity endorsements - the glitz and glamor of branding

The dynamics of building trust have been studied in various fields -- psychology, marketing, and diplomacy, to name a few. In relation to brand strategy, a subject that has been studied particularly well is celebrity endorsements that are used to support launches of new products, or infuse a new life into existing ones. This technique can infuse your product with an instant dose of glamor and glitz, which, in  its turn, leads to higher sales of the product being endorsed.

Face value

Jimmy Wales Wikipedia
Jimmy Wales Wikipedia

These days, celebrity endorsements are omnipresent. Lana del Rey for H&M, George Clooney for Nespresso, or Jimmy Wales for Maurice Lacroix -- it seems that all it takes is to pair up a handsome famous face next to a product in order to make it a market success.

Many companies have used the strategy of celebrity endorsements to build their brands. And I am not only talking about big brands that have enough cash to pay celebrities -- even some startups have chosen celebrity endorsements as a sure way to become known and reach for the stars.

But wait a minute. Why would a person whom we don’t actually know, just because of her celebrity status, be able to grow your product sales only by saying that she uses a certain brand of smart phone, car or lipstick? Do customers really experience immediate trust towards a product, supported by a famous person -- even if they don’t rationally know that much about the celebrity in question?

Forget the rational

And here’s my advice -- when it comes to celebrity endorsements, forget the rational aspects of consumer behavior. Before we continue looking at the dynamics of celebrity endorsements, let’s keep this in mind: ninety-five per cent of our thoughts, emotions, and decisions, including decisions to buy a product endorsed by a celebrity, cannot be referred to as ‘rational’. According to Gerald Zaltman, a marketing professor at Harvard, and author of How Customers Think (( Boston, Harvard Business School Press, 2003 )), most of our decisions take place without our conscious awareness. So, when your customers are looking at your new ad featuring a famous model or Hollywood superstar carrying the bag that you produce, they don’t start analyzing why they find your ad appealing. Something much more powerful takes place in their subconscious minds, so let’s take a look at how this works, from the point of view of neuroscience.

KimCattrall
KimCattrall

Famous faces help sell shoes

In a recent study published by Journal of Economic Psychology, Dutch researcher Mirre Stallen (( Mirre Stallen et al., Celebrities and shoes on the female brain: The neural correlates of product evaluation in the context of fame, Journal of Economic Psychology 31, 2010, 802-811 )) looked into how products appearing next to faces of famous, vs non-famous, women, activated the brains of respondents. During the experiment, twenty-three young Dutch women were exposed to images of shoes accompanied by faces of celebrities, as well as faces of non-famous women. When the images of shoes were paired with famous faces, the areas of the brain responsible for processing emotional stimuli, were more likely to get activated than in cases when shoes were paired with faces of non-celebrities. Also, the brain activity showed that positive feelings about celebrities were easily transferred onto positive feelings towards the shoes shown to respondents.  The young women who participated in the study said that “they'd be more likely to buy the shoes associated with a celebrity's face, as long as the shoes were ones they believed the celebrities didn't already own.” (( Source: Psychology Today ))

Persuasiveness of fame

If celebrity endorsements are not a technique that is relevant to your product, get inspired by the dynamics of this branding strategy anyway. The important point to keep in mind here is that building trust is essential to building strong brands. Find your brand ambassadors, online influencers and trusted business partners, and if you manage to get their appreciation of your work expressed in the public domain -- be it your LinkedIn profile, the cover of your upcoming book, or a referral during a networking event -- their ‘fame’ and status will propel your brand to success.

Reaching_for_the_stars_schmoozy_fox
Reaching_for_the_stars_schmoozy_fox

The word "schmoozing" spotted in French

Finally, I don't have to explain to my French-speaking friends what the word "schmoozing" means! :) Well, at least I can from now on refer them to an article that appeared in this week's edition of Références, a Belgian weekly for employment seekers and career-focused individuals.

Schmoozing: mode d'emploi(s)

The article focuses on the kind of "schmoozing" (particularly, its online variety) one does to find a job. For me personally, and of course, for SCHMOOZY FOX as a company, this word has a broader meaning.

Ladies and gentlemen, schmoozing is HIGH POWER NETWORKING.  The kind that involves co-operating, building relationships and closing win-win deals.

All of this with the objective of enhancing the client's product or service brand.

In my brand strategy work, schmoozing capabilities come in very handy when assessing my clients' potential and spotting opportunities for brand partnerships, brand endorsements and co-branding.

So, from now on, vive le schmoozing!

schmoozing definition

Source: Schmoozing: mode d"emploi(s) by Rafal Naczyk in Références, 19.02.11

Maurice Lacroix watches: authenticity, achievement and square wheels

A Maurice Lacroix watch with a square wheel Have you ever thought that wheels can take different shapes than just a circle? According to Wikipedia, a wheel is “a circular device that is capable of rotating on an axle through its centre, facilitating movement or transportation while supporting a load (mass), or performing labour in machines.”

Well, here’s the big news: a Swiss watchmaker Maurice Lacroix has recently revealed a new watch model, Masterpiece Regulateur Roue Carre, which contains a S Q U A R E  W H E E L to display the hours!

Being somewhat of a geek, I found this engineering and design innovation funky enough to trigger my interest in finding out more about the brand. In addition, having already written about Maurice Lacroix’s recent brand endorsement campaign featuring Wikipedia’s founder, Jimmy Wales, I strongly felt that yet another Funky Brand Interview was about to materialize. And here you are, today I am happy to publish my interview with Martin Bachmann, CEO of Maurice Lacroix.

SCHMOOZY FOX: Martin, how would you characterize the brand of Maurice Lacroix in a couple of sentences?

Martin Bachmann: Maurice Lacroix stands for contemporary watchmaking, manufacture excellence and is oriented to authentic consumers with modern lifestyle. SCHMOOZY FOX: And what do you mean by “authentic”?

Martin Bachmann: Authenticity is staying true to one’s values, not being afraid of standing out from the crowd, sometimes following a bit of a different direction from everybody else’s. It’s also about achievement and success.

SCHMOOZY FOX: And is authenticity something that unites the three brand ambassadors who have recently endorsed Maurice Lacroix -- Jimmy Wales, Bob Geldof and Justin Rose?

Martin Bachmann: Yes, authenticity along with achievement and success are the qualities that unite these brand ambassadors who, as you point out, have recently participated in our brand endorsement campaign. We were happy to identify them because they pinpoint the qualities that are also inherent to the brand of Maurice Lacroix and, we are convinced, our consumers.

3 brand ambassadors of Maurice Lacroix

 

SCHMOOZY FOX: Were there any specific profiles of people you were looking for? Did they have to belong to a specific field of knowledge, or profession?

Martin Bachmann: The most important factor for us was to identify strong personalities, people with charisma and a track of achievement throughout their lives. As far as backgrounds go, we looked for achievers in science, business, sport or entertainment. An important criterion was to identify unique personalities. Even in entertainment, we considered some individuals, but the originality of character was more important to us than the mainstream celebrity status. In this sense, Bob Geldof, who has had an amazing career as a musician, and who is a speaker on various issues from politics to entertainment, sought by corporations, fit the bill very well!

SCHMOOZY FOX: Besides brand endorsements, you also talk about partnerships on your website? What are they all about?

Martin Bachmann: You must have seen a series of interviews published in cooperation with Monocle magazine. For instance, we have interviewed Leo Liu, a wine-grower from China. We’ve also collaborated with various designers outside of the company who have brought in a fresh perspective on contemporary design and created some very successful watches for Maurice Lacroix. In this sense, Maurice Lacroix is always on the lookout for fresh ideas, and co-operation with inspirational people. All of them are unique in the sense that they have chosen to follow a very original path in their lives, for example, Leo Liu.

SCHMOOZY FOX: In this respect, this willingness for co-operation, partnerships and openness for fresh ideas is an important element of all funky brands!

Martin Bachmann: Yes, indeed! We also believe that this openness is a way to keep our company innovative. It also builds our team spirit immensely!

SCHMOOZY FOX: Is Maurice Lacroix all about men’s watches? I have  seen a couple of beautiful models for women, but the majority of your watches are for men. Is this why your brand endorsement campaign focusing primarily on male brand ambassadors?

Martin Bachmann: Indeed, men’s watches are our core product, although eventually we plan to have about 25% of our turnover come from women’s watches. This explains why currently we seek mainly male brand ambassadors. But I surely don’t exclude an opportunity to have a female brand ambassador in due time!

SCHMOOZY FOX: Finally, Maurice Lacroix is all about tradition and excellence of watch-making. Besides, your company also communicates about being contemporary. How do you manage to combine the two -- tradition and the spirit of modern times?

Martin Bachmann: Our watches are about tradition in the sense that they are all hand made according to industry standards in craftsmanship, some of which have not changed in centuries. But the design is where we want to show contemporary trends! Here we are far from the traditional. For instance, instead of  producing only traditional yellow and white gold watches, we often create watch cases with more modern materials, for instance titanium or steel that is treated with a ceramic coating or apply innovative decorations and color codes on our movements, like e.g. black gold.

PT Chronographe Rectangulaire Full Black_B

SCHMOOZY FOX: Many thanks, Martin, for sharing the brand spirit of Maurice Lacroix on the SCHMOOZY FOX blog, and I wish you the best of success further on!

Martin Bachmann: Thank you!