Today, marketers look at a simple number: Followers.
And who typically has the most followers? Celebrities. Celebrities are in a rush to create lasting businesses from their fame and fortune. The days of marketers looking at a company’s product, repeat customers, and financials might be over.
Celebrities and their Companies
Singer Rihanna became a billionaire not through her vocal line but through her cosmetics line, Fenty Cosmetics. Jessica Alba and her Honest Company of home goods is worth more than a billion dollars. The Kardashian-Jenner family continues to churn out businesses with Kim’s shapewear line and Kendall’s tequila line. We can’t forget about how Kylie’s cosmetics line recently sold a majority stake to Coty valuing it at over a billion dollars. Gwyneth Paltrow has Goop, while perennial heart throb George Clooney exited his tequila brand Casamigos for close to a billion dollars to Diageo in 2017.
Many famous stars come out with high margin products in beauty and spirits but there are also brands in food, health, and home. Scarlett Johansson has a beauty line, Gabrielle Union and Dwyane Wade have a baby product company, Jennifer Aniston has a hair care line, Ellen DeGeneres has a skin care brand, Drew Barrymore has a beauty and home brand, Kristen Bell has a CBD brand, Jennifer Garner has an organic food brand, and Kate Hudson has an athletic and vodka brand.
Dwayne the Rock Johnson has a few brands that he owns outright as well as ones that he endorses (he was recently knocked off the pedestal of highest paid celebrity endorser) from workout supplements, to water, to tequila.
Jennifer Lopez has a beauty and shoe collection. Ryan Reynolds has a gin line, a marketing company, a football club, and more. Travis Scott has a spiked seltzer, Sofia Vergara has a home goods and an eyeglass line, Mark Wahlberg has a car dealership line, a gym chain, a clothing line, nutrition supplements, and his eponymous Wahlburger restaurant.
But what does this mean for you?
You don’t have hundreds of millions of followers and you don’t get thrust into the limelight after every film or tv show that you star in. While it seems like easy money for celebrities to promote anything and everything, the products and the brands need to match the celebrities personality and values.
Clooney most likely won’t be pushing a cosmetics line in the near future while Alba most likely won’t be pushing alcohol. (Some celebrities are known to endorse “off brand” products overseas. However in our new, always on world and economy this practice is slowly being phased out.) Like our examples, if you stay true to your brand and your audience, you too can build a multi million dollar brand.
For example Lauren Conrad was able to build a following from her appearance on the MTV hit “The Hills”’ which she was able to flip into a fashion line at Kohl’s and a beauty line that was released in 2020, 15 years after the premiere of the Hills.
Another example includes our Olympians which only get the spotlight every four years. Some stars that get significant television time, are able to parlay that proverbial flash into a life long income stream because they endorse and start brands that their fans would expect. Even Kim Kardashian was able to take her infamous tape and turn that small wedge into a global empire that involves her entire family.
What do people follow you for? What content or information do they rely on you for? Utilize that information to figure out what products your audience would most appreciate from you. We’d love to hear of your successes. Drop us an email and let us know how you were able to figure out your product market fit!