I love Beyoncé. I have girl power tracks from her on my exercise playlists dating back to “Jumpin’, Jumpin’” from Destiny’s Child. “Single Ladies (Put A Ring On It)” and “Crazy in Love” are not old. I L-O-V-E love her. OK, so now that that is behind us, can I say that the news of her signing a $50 million endorsement…oops, I mean brand ambassador…agreement with PepsiCo this morning shocked me?
Beyoncé definitely has influence, but is it enough to create a measurable market change worthy of that kind of money? When I read the articles like this New York Times piece, it’s astonishing to see how much of this deal sounds so vague and unresolved. It’s very hard for me to see the value in this deal. However, if I instead focus my thinking to how PepsiCo has shifted strategy to create innovative relationships in the music industry, I begin to see that I may have judged the value of my Beyoncé too harshly.
PepsiCo has been aligning its brand in innovative fashion with the music industry for years. Striking deals with iconic superstars isn’t the breaking news of the day. In this deal with Beyoncé though, it’s found a new way to take celebrity endorsement to another level. Even if you don’t love the megastar like I do, there’s no denying Beyoncé is a trendsetter, creative force, showstopper. Where she goes and what she does is guaranteed to result in favorable impressions for your brand if you can say you’re exclusively aligned with her. What’s more, she’s not a “one-off” sponsorship – she fits nicely into the brand package that PepsiCo has created. She’s one piece of the gigantic ad puzzle. It will be interesting to see how the case studies around this will choose to measure the value of the agreement. But, one thing is for sure – I can’t wait to see how Beyoncé executes creative license with soda.