Steven Buchwald Discusses How Celebrity Backers Can Help Drive A Startup’s Growth

Share Article

Steven Buchwald of Buchwald & Associates, a leading provider of legal services for entrepreneurs and startup investors, today weighed in on the importance of influencers in driving a startup’s early growth - celebrity backers in particular.

News Image
Whether you’re working with a professional athlete, a movie star, or simply someone who’s got a million followers on Twitter, the key is for their endorsement to be a genuine one.

Steven Buchwald of Buchwald & Associates, a leading provider of legal services for entrepreneurs and startup investors today weighed in on the importance of influencers in driving a startup’s early growth - celebrity backers in particular.

Celebrity endorsements have always been central to marketing and advertising, back to some of the earliest television advertisements. Famous actors and athletes hold a great deal of sway with public opinion. An endorsement from a well-respected public figure can thus go a long way towards ensuring a brand’s success, especially if that brand is in its nascent stages.

“Especially in the era of social media, celebrity endorsements are extremely powerful from a marketing standpoint,” Buchwald explains. “Look at the Centra Token, for example - the cryptocurrency backed by famous boxer Floyd Mayweather. Without his endorsement, it may have been lost in a flood of competitors - but with his help, the founders raised over $30 million in investments.”

It’s not solely television celebrities that can help drive sales. Twitter influencers and YouTube stars can be just as integral. Buchwald points to top-grossing Youtuber PewDiePie, who has brought hundreds of independently-developed video games into the spotlight.

“Whether you’re working with a professional athlete, a movie star, or simply someone who’s got a million followers on Twitter, the key is for their endorsement to be a genuine one,” Buchwald explains. “Audiences want to feel like they’re being given a window into the celebrity’s personal life, like they’re receiving a recommendation from a friend about a great new product. For that to be possible, your startup has to be something the influencer would recommend on their own - something that matches their personal brand.”

It’s also critical, noted Buchwald, that if a business working with an influencer for a paid promotion, it must be disclosed clearly and conspicuously to the audience. You cannot pay a celebrity to say glowing things about your brand if you do not want people to know you’ve done so. It is also important that your endorsements are not misleading - anything that is said about a brand or product needs to be true.

To find said influencers, Buchwald recommends doing some research on the biggest personalities in your startup’s field, as well as any celebrities who may have expressed interest. Keyword searches on Twitter, Facebook, or Google are the best place to start, he says - but Google alerts and blogger outreach are also excellent choices. Buchwald, meanwhile, will continue assisting entrepreneurs and startups with any legal challenges they might encounter.

###

About Buchwald & Associates
Founded with the intent of providing legal services to tech startups, Buchwald & Associates focuses on corporate and intellectual property law, Internet law, international mergers & acquisitions, structuring complex transactions, and technology transfer. It also represents individuals in small and mid-sized companies on immigration and naturalization issues. Featured in multiple publications such as Inc., Entrepreneur, Forbes, and TechCrunch, Buchwald & Associates is one of the leading legal authorities for business professionals, particularly entrepreneurs and investors.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Steven Buchwald
Follow us on
Visit website