Celebrity Endorsement vs Influencer Endorsement for Financial Brands: What does Gen-Z think?

Souheila Kaabachi (), Mohamed Kefi (), Monyédodo Régis Kpossa and Ahmed Charfi ()
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Souheila Kaabachi: EBS Paris - European Business School Paris, ESCE International Business School, INSEEC U. Research Center
Mohamed Kefi: EDC - EDC Paris Business School, OCRE - Observatoire et Centre de Recherche en Entrepreneuriat - EDC - EDC Paris Business School
Monyédodo Régis Kpossa: ESCE, International Business School - ESCE, INSEEC - Institut des hautes études économiques et commerciales | School of Business and Economics
Ahmed Charfi: ISTEC - Institut supérieur des Sciences, Techniques et Economie Commerciales - ISTEC

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Abstract: This study extends celebrity endorsement and influencer endorsement to financial brand communication and explores the Generation Z (Gen-Z) attitudes toward financial advertising using an endorsement strategy. We investigate the effect of endorser type on the endorsement strategy effectiveness. This research is based on an experiment involving a total of 313 students aged 18 to 25 years old. Structural equation modelling (Amos Graphics 25) and MANOVA were used to analyse the data. Our findings support that Gen-Zers perceived social media influencers (SMIs') image as more congruent with financial brand image and more credible, with more altruistic motives than traditional celebrities. Indeed, this study showed that brand-endorser congruence and idealself- image congruence contributes to the attribution of altruistic motives to the endorser, which in turn influences endorser credibility. Gen-Zers' ad attitude is mainly impacted by the endorser attractiveness and trustworthiness. This research highlights the interest of financial institutions in using SMI when advertising to Gen-Z.

Keywords: Financial services; endorsement strategy; Gen-Z; Traditional celebrity; Social media influencer; Services financiers; stratégie d'endossement; Génération Z; célébrité; influenceurs des médias sociaux (search for similar items in EconPapers)
Date: 2021-12-01
New Economics Papers: this item is included in nep-pay
Note: View the original document on HAL open archive server: https://hal.science/hal-03767446
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Published in Management & sciences sociales, 2021, Manager en temps de crise : performances et mutations, 31, pp.55-81

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