By Meeta Mishra
In a recent interview to Anupama Chopra for Film Companion, Hindi movie director and producer Karan Johar said the era of superstars is over. His was not a random statement: There has been much talk in the industry that the three Khans are perhaps the last of what we know as Bollywood superstars.
If Johar were right, what will happen to the brands that rely on the charm and following of superstars to launch products, improve market share, fight negative press, grab top of mind… you name it…
Take this recent example. When Aamir Khan came on the small screen in 2021 and said “Badlaav Humse Hai”, he immediately launched AU Small Finance Bank — which had been operating as a bank for the previous four years with low relatability — into the consumers’ consideration set. That consumers in India never get enough of Bollywood or cricket celebrities in borne out by several recent studies including Duff & Phelps’ ‘Celebrity Brand Valuation Report’, which said around 50% of endorsements in India feature celebrities compared to around 20% in the United States. The same report puts the overall brand value of the top 20 endorsers of 2020 in India at an estimated $1 billion.
At the other end of the spectrum, you have new-age behemoths like Amazon that haven’t inked an endorsement deal with a movie star so far, despite having the wherewithal to do so.
So is there a contradiction? Or are we seeing a shift already?
Take it from advertising veteran Jayshree Sundar (former president [north] of Leo Burnett, and author of ‘Don’t Forget 2004 – advertising secrets of an impossible election victory’): “There’s a shift. The shine of stars is ebbing. There are social media influencers, OTT stars that are gaining prominence.” Adds Deepak Gupta, COO, Bombay Shaving Company, “More than celebrities, I think, we are seeing the rise of ‘cultural game changers’, who have a strong influence in their respective niches and interest groups. This is largely due to the rapid diversification in media and content formats, giving so much more to the consumer to choose from and embrace.”
The result? Explains Prem Dewan, managing director of Devans Modern Breweries: “Social media is the future for brands to connect with consumers; innovative strategies are being worked out by manufacturers to catch the eyes of the consumer in a cost-effective manner.”
Now look at these numbers. According to analysts, a Shah Rukh Khan or a Salman Khan would charge anything between 8 crore and10 crore for a commercial, depending on the duration of the promotion or the number of appearances. Amitabh Bachchan is probably a notch below, in the vicinity of 7 crore, while Akshay Kumar seems to be leading the game at the moment, raking in nothing less than10 crore per campaign.
On the other hand, take a social media influencer with, say, 20,000-25,000 followers. Per post he/she would rake in around 7,000-8,000. Those with 50,000-80,000 followers usually charge around15,000 per post, and as you move higher up the ladder, social media celebrities with 250,000 to 500,000 followers would take home a cool `50,000 per post.
There you have it. Rahul Trehan, COO, IOS Sports & Entertainment, says, “Corporations are using the same amount that would otherwise have been spent on one mega star to get four or five well-known faces and influencers. That translates into wider reach in diverse sections of the audience.” So instead of a big cricket star, for example, brands are signing up achievers such as Manika Batra, Lovlina Borgohain, Rani Rampal to tap into their reach as influencers and connect with their fan base. “Every achiever has his/her ‘valuation’ but it would be safe to say that superstars can take the marketing budget up by at least 50% when compared to other known personalities,” Trehan estimates.
Shaily Mehrotra, CEO and co-founder, Fixderma, has an interesting take on the subject: “What is called the star value is actually the personality value. It gets created by means of the impact made by the celebrity with his/her choice of roles, public image as well as how they communicate with society.” She says what has happened is that while the star “status” of celebrities has not diminished, the star “value” has and therefore brands are shaking hands with influencers, OTT actors and even stand-up comedians.
Aside from the cost-benefit calculation, there is also the issue of where the brand is likely to find its customers. Rajesh Ramakrishnan, MD, Perfetti Van Melle India, says, “As consumption of digital content takes precedence over television and print, advertisers have also started working with digital content creators and internet stars to appeal to millennial sensibilities.”
In any case, today’s consumers are much more discerning that yesteryears’, and the mere presence of a celebrity is unlikely to drive business or equity for the brand, he adds.
The good news for brands is, a whole new breed of endorsers has risen, made possible by mobile phone penetration into every nook and corner of the country. Some brands like Mamaearth have built their brand recognition by working in collaboration with Instagram influencers and Youtube vloggers. When beauty tech-retailer Boddess was considering the option of using a brand ambassador, Bhumi Pednekar fit right in “because of her engagement with the community, her journey on body image and her self-confidence”.
Read Also: Connected TV ads boost brand awareness by 19%: Study
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