Influencer marketing has become the latest trend. The audience is easily convinced to buy a product or service which their favorite influencer has recommended it or uses it themselves. This gives a personal touch to the endorsement and is considered more credible. This has become one of the most popular ways for marketers as it is a very cost-effective method. Since marketers are continuing to invest more in influencers, therefore, they expect more in return. Consequently, the process of contracting with influencer talent is evolving. And for this, a regulatory framework is of utmost importance and so does having a robust contracting process.
The list of following policies is recommended for each influencer that they must follow:
- Clearly defined influencer content
It is advised for all the influencers to use certain hashtags like #paid, #ad, and #sponsored if they are endorsing a product or service that they got without paying for it. This is termed as organic disclosure that clearly describes the nature of the material connection and must be included in the influencer’s marketing contract. Also, this saves influencers from being caught up in any suit filed against the brand. Some of the hashtags like #partner, #ambassador, and #thanks [brand name] are considered incomplete.
- Marketers’ right to review content
Considering this from a marketer’s point of view, the marketer should be given a choice to review and approve the content. Giving all rights to influencers could be risky and damaging to the brand’s image. For one-off social posts, a broad usage license may be acceptable and for a broader production campaign, ownership of the assets may be more critical.
- Place disclosures on the top
Taking inspiration from “Terms and conditions applied” with are placed at the end with an unreadable font, it was advised that disclosures shouldn’t be buried at the bottom of a text box or in hyperlinks. Instagram has a strict policy of placing disclosures before the “more” button. Also, many social media sites advise that influencers shouldn’t rely on built-in platform disclosure tools as they aren’t sufficient. Disclosures must come directly from the influencers.
- Consult with legal counsel and create a written policy
It is always better to be safe than sorry. So, each influencer is asked to work with experienced legal counsel while developing a written policy. It instructs endorsers to disclose their relationship when speaking about a marketer’s products. The policy should always have a clause wherein the influencer can provide their honest opinion of the products. The marketers can only make factual statements that can be substantiated and they must respect third-party intellectual property rights. Also, the influencer marketing contract must address issues related to content and ownership rights.
- Know about the signer of the agreements
Mostly agreements negotiations take place with influencer networks and not with the influencers individually. So, the influencers must be a part of this as networks usually try to avoid direct responsibility for influencer content. Therefore, influencers shouldn’t just negotiate but also be a part of the production agreement.
- Take your social media policy seriously
Each marketer must provide as much detail as possible to the influencer about the product/service for which he/she has to create the content. Also, they must specify the format and length and methods of how the influencer is expected to promote it. Even if some PR agency is acting as a mediator, then also these detailed brand guidelines must reach the influencer. Also, specific guidelines must be established about exclusivity when content is being produced solely for one marketer.
- Genuine contracts with all applicable laws
The influencers must comply that their marketing contract has applicable laws and that the content they provide will not infringe upon any third party rights, including copyright and rights of publicity. A well-drafted agreement will always include consequences in case of a breach. Consequently, influencers, marketers, and agencies must develop a detailed plan or contract for monitoring all terms and conditions. Also, they must have an action plan if things don’t go as planned.
