Jeremy Lin signing the endorsement Volvo can win the test

The NBA team's Knicks recently ushered in a three-game winning streak after the coaching change. After a period of recent downturn, Lin Bingfeng returned. Jeremy Lin’s business endorsement activity outside the stadium is also in the ascendant and ushered in its first commercial endorsement. Yesterday, Volvo Cars announced that it had signed an endorsement agreement with Jeremy Lin. The contract period is two years. According to the "Global Entrepreneur" report, the endorsement cost has been estimated to reach 4 million US dollars.

The intention is to take a look at Volvo, the Chinese-American market, and Jeremy Lin said that after the end of the season, Jeremy Lin will shoot the first commercial for Volvo's endorsement. After Jeremy Lin became famous this year, Nike, Li Ning, Peak and many Other companies were in contact with him.

In fact, Jeremy Lin is also the first spokesperson for Volvo Car Corporation.

Professor Fan Yan, deputy director of the marketing department of Zhejiang University of Commerce and Industry, said that Volvo invited NBA Chinese stars to speak as endorsers, which not only attracted Americans’ attention to Geely Automobile, but also attracted a sense of recognition in the Chinese circle. “It’s a welcome endorsement.” Eat two markets."

According to Volvo's public information, Volvo is working hard to increase its sales in mainland China to achieve its strategic goal of doubling its global sales to 800,000 by 2020. Last year, Volvo sold 47,000 vehicles in China, an increase of 54% from 2010.

Whether a win-win situation remains to be tested Zhejiang enterprises have invited international sports stars to endorse the precedent. In 2007, Wenzhou's Aokang Group spent millions of dollars asking Liu Xiang to speak for the contract. The contract period is two years. The evaluation of the value of Aokang brand made by third-party organizations at the end of 2008 shows that the value of Riocom brand has been raised from more than 6 billion yuan to more than 8 billion yuan in a year. A large part of this is due to cooperation with Liu Xiang.

However, there are certain risks associated with cooperation with sports stars. A person in charge of Aokang Group stated that in order to match Liu Xiang’s game at the 2008 Olympic Games, the company had done two sets of advertisements before, which resulted in or did not receive a gold medal. The result was Liu Xiang. Accidentally retire, has caused no small impact on the company.

Fan Hao said that celebrity endorsements, especially cross-sector endorsements, must first consider whether the audience is consistent between the product and the star. Looking at Jeremy Lin's game, and intends to buy Volvo cars, is the same type of group still to be discussed, from this perspective, please Lin Shihao endorsement, Volvo Cars also have greater risks. Aokang said that unless sports shoes are produced, sports stars will no longer be invited to speak for them.

Fan Hao believes that, in addition, celebrity endorsements should also be considered, but also consider the status of people and products in their respective fields. Like Chery's invitation to Messi to endorse Chery's Ruilin G5, it did not succeed in the end. The biggest reason was that the brand image of the two companies was too wide to make it difficult for consumers to connect.

A related person from the Volvo Public Relations Department stated that the signing of Jeremy Lin wanted to further increase the Volvo brand's influence among young consumers because they are Volvo’s potential customers.