It has been well known in marketing for as long as advertising has existed that having the right people associated with a brand can make a big difference. A celebrity endorsement can instantly raise the profile of a brand or product, and choosing celebrities who appeal to different markets than you currently engage can broaden your brand’s appeal.
Cristiano Ronaldo and XTrade
A good case in point is the recent appointment of superstar footballer Cristiano Ronaldo as an ambassador for XTrade. If you are not yet familiar with XTrade, it is a financial online trading platform for CFD trading on a wide range of markets, including commodities like gold and oil, stocks and shares, and foreign currencies.
Why Ronaldo could help XTrade reach new audiences
The choice of Cristiano Ronaldo was a smart one by XTrade. As a superstar at the top of his game, he is highly sought after as a brand ambassador, but is usually seen advertising sports related products and brands. By endorsing XTrade, Ronaldo gives his celebrity appeal to something people don’t normally associate with footballers – financial trading online. This allows XTrade to demonstrate that their brand is not just about helping people who are already involved in financial markets or who are math experts to trade, but can also support people with different interests and don’t fit the ‘city trader’ stereotype. XTrade has the number one mobile app of its kind, and is very much interested in engaging a young audience of people who are just discovering trading. These are people who are certain to know who Ronaldo is and to pay attention to things he endorses.
The connotations of athlete endorsements
Another reason why Cristiano Ronaldo is a great choice for XTrade is that top ranking sports stars bring certain connotations with them to the brands they work with. Drive, motivation, competitiveness, and above all the ability to win are all things we associate with successful athletes, and these carry over to the brands. In the case of XTrade, this can inspire people to want to compete and win with their trading. This is certainly a link that XTrade is working with, quoting Ronaldo as saying:
- “To be the best, you need the best. That is why I have chosen to partner with XTrade, one of the world’s leading digital trading platforms. And there is no easy way to become the world’s best. The only way is through perseverance, practice, and more practice – until perfection.”
As a four time golden boot winner, Ronaldo is certainly considered one of the best at what he does, and this creates a similar image for XTrade – as the best in a highly competitive field.
There is an added association when it comes to world class sports stars, particularly footballers, which fits well with XTrade’s brand: wealth. Footballers are known for having luxurious lifestyles, expensive cars, and beautiful wives. While XTrade may not promise to make users rich through CFD trading, the idea of any kind of investment or trading is to try and increase wealth, so showing an association with someone with a glamorous lifestyle adds even more appeal.
— Cristiano Ronaldo (@Cristiano) April 4, 2016