February 23rd, 2024
WalletHub recently published an interview with Greg Stoller, Master Lecturer of Strategy and Innovation, discussing car insurance companies.
Celebrity endorsers have the power to upsell a brand, however, there are no switching costs from one auto insurer to another, as costs are relatively standard. The “fun” content of advertisers is often what compels buyers to have an initial interest in a company.
“So, if a celebrity convinces someone to switch, it is more than worth the endorsement contract,” Stoller adds.