Today InsightX launches a new due diligence product, developed to mitigate the reputational risks associated with influencer, athlete and celebrity sponsorships.
Brand Ambassador Reports, designed for global brands, PR and marketing agencies aim to support professionals responsible for influencer marketing, and more specifically, athlete and celebrity endorsements.
An ambassador’s outspoken political beliefs, criminal proceedings, and bad behaviour – even if they occurred long before the partnership – can be detrimental to the brand and business by association. The possible risks associated with these types of partnerships can arise in the form of negative press coverage, the alienation of customers, and damaged reputations where the ambassador’s actions, opinions or behaviour outwardly deviate from a brands’ values and mission.
InsightX’s Brand Ambassador Reports delve into the background of the proposed endorser, uncover areas of concern and recommend steps to mitigate risk with the proposed partnership. They also provide brands with the most up-to-date intelligence to ensure all decisions are made on the latest available information.
Not only do proper due diligence and intelligence checks give the green light to work with the selected ambassadors in terms of risk, it also ensures the partnership makes sense when it comes to shared values and causes, as authenticity and consistency are essential for the endorsement to be successful.
In the last 10 years, the use of influencer marketing has been expanding around the world, reaching a market value of $16.4 billion in 2022, up from $1.7 billion in 2016. Research has found that celebrity and athlete endorsement in particular increases trust and can lead to 20-40 per cent growth.
The modern marketing tactic has become a successful and proven way for brands to connect with their audiences authentically as young athletes, up-and-coming pop stars and high-profile influencers become the faces of major international brands across all industries from sportswear, luxury clothes, to life insurance, cryptocurrency, and soft drinks.
One recent endorsement that has hit the headlines for all the wrong reasons is adidas and Kanye West’s partnership which ended after the rapper made a slew of anti-semitic comments.
To learn more about how brands can navigate the risks of long-term endorsements download our free Brand Ambassador Guide.
Read more about InsightX’s Brand Ambassador Reports.