License the star power of a legend

Celebrity endorsements—great for brand recognition, potentially not-so-great if your celebrity endorser ends up embroiled in scandal. Celebrities are people and people make mistakes. Unfortunately, the mistakes of celebrity endorsers are played out in front of the public. For example, in 2009 Tiger Woods’ public image crumbled after his infidelity with a number of women hit the news. To avoid negative perception, General Motors, Gillette, Accenture and Gatorade dropped Tiger. And you can’t forget Lance Armstrong. When cycling’s international governing body determined that he indeed was involved in doping, the International Cycling Union stripped Armstrong of his seven Tour de France titles and he also lost his endorsement deals with Nike, Trek Bicycles, Giro Helmets, 24-Hour Fitness, Anheuser-Busch, Radio Shack, and Oakley. Whether it’s trouble with the law, poor career choices or disastrous plastic surgery, when a star becomes tarnished, you don’t want your brand to be collateral damage.

Deciding on a famous face to associate with a brand is always a gamble. A celebrity could lose their fame/relevancy or they could simply change their image. This could result in a contradicting image of the endorsed brand. This reality has led many marketers to partner with celebrities whose status is already cemented in the public mind. These include stars who have passed away, but whose established legends and charismatic bodies of work continue to attract an avid following from consumers.