@fearlessfocus39: #CapCut #trump #dolandtrump #motivation #viralvideo #foryou #foryoupage

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Friday 31 January 2025 18:41:00 GMT
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Does paying a celebrity to endorse your product or service work? I've been a part of a lot of celebrity campaigns. With no joke, some of the most prominent musicians, sports stars, and celebrities... and even running ads during the Superbowl, World Cup, and even the Olympics. And in almost all cases, paying celebrities millions of dollars or even giving them shares in your company typically doesn't produce a positive ROI. But there has been one instance that can work well. Making the celebrity your
Does paying a celebrity to endorse your product or service work? I've been a part of a lot of celebrity campaigns. With no joke, some of the most prominent musicians, sports stars, and celebrities... and even running ads during the Superbowl, World Cup, and even the Olympics. And in almost all cases, paying celebrities millions of dollars or even giving them shares in your company typically doesn't produce a positive ROI. But there has been one instance that can work well. Making the celebrity your "co-owner" and getting them involved in the company. For this to work, they have to care for the company, love it, and genuinely want to be involved. A great example of this is Mint Mobile by Ryan Reynolds. He wasn't the founder, but they later brought him on, gave him equity, and made him a co-owner. Eventually, they sold the company for up to 1.35 billion dollars. Fenty by Rihanna is another great example. LVMH wanted to do a deal with her and pay her as a brand ambassador. Rihanna didn't want to be paid as a brand ambassador. Her team eventually pitched LVMH to do a joint venture where they each owned 50% of a company. Fast forward to today, she is worth $1.4 billion, according to Forbes, with the majority coming from Fenty. It usually doesn't work out if you want to leverage celebrities unless you make them a co-owner. Why? Because we are used to seeing celebrities endorse pretty much anything. It's gotten so old that we tend to ignore it. But when a celebrity owns a product or service and pushes it as one of the owners, we tend to pay more attention.

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