OK, so this blogging thing is truly like therapy! I can tell you my thoughts and if they resonate, you give me feedback. Its the perfect relationship!
So i find as i get further into my career, i become more and more unwilling to deal with other’s version of value when it comes to my core business which is selling talent. As an agent whether its for athletes or Hollywood A-listers, I am always amazed at how off base some so called “professionals” are at evaluating the market price for some.
I will give you an example, one of the hottest areas in my business right now is booking Celebrity Chefs. Both some that I represent exclusively such as former Supermodel turned author and chef, Maria Liberati or uber famous chef Mario Batali who i don’t represent but have booked for several corporate events.
My company handles leads from many different sources such as www.chef2chef.net or www.allamericanspeakers.com as an example. It amazes me firstly how much money celebrity chefs get theses days but also how little the market understands about booking them. Just because someone is on TV and your local charity group is having a fundraiser that would be perfect for a celebrity chef, doesn’t necessarily mean that is a possibility.
On a regular basis my staff has the unenviable job of calling back well meaning people who don’t have a clue on costs and valuations of talent on the open market. I recently received a request for Emeril for $5,000. Might seem like a lot to some, but here is the reality, Emeril gets close to $200,000 an appearance plus the cost of his G-4. No that is not a video game, that is one of the swankest private jets on the market. Probably cost another $10-30,000 just for the plane.
So my challenge every day is teach my staff to either a. upsell a potential client on the reality of the costs and the benefits of those who charge more or b. take a lead for a celebrity that have no chance of getting done and find them someone who will reasonable meet with their approval for their program within their budget.
This highwire act we do hundreds of times a week. We do it for TV commercials, infomercials, speaking engagements, Satelitte Media Tours, endorsements, personal appearances, licensing opportunities and so much more.
You have to learn the skills of communication usually on the phone to keep someone’s enthusiasm while you essentially convey to them that there is a better chance that Reindeer will be attending their next Christmas party with a jolly ole fat man in a red robe and matching shoes… Anotherwards, NOT! Oh, and still get a deal done with them! Now that takes skill.
My point is this, you may be insulted, disappointed, truly aggravated that you did everything you could to generate a fair offer for your product or services and sometimes no matter what, the market just doesn’t see the same value. The question is, what are you going to do then? That is my point, good sales and marketing people always find a way. Don’t give up, at that point of feeling complete and utter frustration, suck it up because that is when you need to be at your best. If not, start working that resume’ because you clearly are not going to last long in this game!
Evan Morgenstein: Entrepreneur, Consultant, Sports Agent, Motivational Speaker. Morgenstein started in the tech industry after graduating in 1987 from Syracuse University. Working for several partially owned IBM partnerships, Morgenstein learned from some of the best. He has parlayed that into a dominant company Premier Management Group in the celebrity talent and sports marketing industry.
Tag: endorsements
Celebrity endorsements are a staple in advertising, with more than 20 percent of all ads today featuring a famous face, voice or likeness. Even smaller businesses are using celebrity spokespersons. The reason is simple: Celebrities sell. Consumers pay attention to celebrities because they are attracted to the familiar. But celebrities don’t have to be major national names. Local and regional “celebrities” can also help pitch a marketing message for your small business. Three ways your business can use a celebrity spokesperson are:
1. Advertising: Celebrities can pitch your product via print, television, radio and even online
2. Appearances and events: Celebrities can make personal appearances for your business at events ranging from charity fund-raisers to grand openings.
3. Media opportunities: your spokesperson can speak on your behalf on TV talk shows or at press conferences, trade shows or other media events.
Here’s the 411 on getting some star power:
Define your objectives
Determine what you expect from your partnership with your spokesperson and how to best use their talents. Clarify your needs and expectations from the get-go.
Links and resources: Brooks International and Burns are two agencies that specialize in booking celebrity and sports talent. These talent brokers can help you assess your needs.
Find the right fit
It’s important that the spokesperson you hire is a good match for your product or service.
Links and resources: The Hollywood-Madison Group uses a proprietary database called the “Fame Index” to match businesses with appropriate talent. The Fame Index contains the names of 10,000 stars and uses 250 categories to match talent to businesses and products.
Plan well in advance
When deciding on a celebrity spokesperson for your business, start early. You should plan at least six months out. The bigger the name, the longer the lead time.
Links and resources: Celebrity Focus and The Celebrity Source are two talent agencies that can connect your company with talent and help you navigate the celebrity maze.
Consider the costs
Talent fees and celebrity endorsements run the gamut from a few hundred dollars for a single appearance by a local DJ to far more for a big star.
Links and resources: If you’re looking for major star power, you can go with Hollywood biggies like William Morris or PMK/HBH Public Relations. On a smaller scale, you can contact many local celebrities directly or through their management or their public relations agency.
Make contact
Talent agencies, entertainment marketing firms and even speakers bureaus can put you in touch with potential celebrity spokespeople. Contacting talent can be easier than you might think.
Links and resources: The Screen Actors Guild provides an actor-locator service. If you want a big-name author, call his or her publishing company and ask for the public relations department. A few have their own speakers bureaus: check out the speakers bureau at Harper Collins.
Here are a few other suggestions when hiring spokespersons:
• Don’t be afraid to ask. Maybe that certain superstar is not out of your reach or budget.
• Consider “B-List” stars who may be more available and less expensive.
• Local celebrities or athletes may turn out to be your best bet.
• Make sure you have an “out” clause in case your celebrity gets negative press or is involved in a scandal.
About the Author
Lou Bortone is an award-winning writer and video producer with over 20 years experience in marketing, branding and promotion. As an online video expert, Lou helps entrepreneurs create video for the web at www.TheOnlineVideoGuy.com. In addition, Lou works as a freelance writer and professional ghostwriter, with a ghostwriting site at www.GhostwriteForYou.com and a blog at www.GhostwriteGuru.com.