Social media “influencer” marketing has become a mainstream part of many business strategies these days, helping brands better connect with their target audiences through content that engages, educates and entertains.
You can’t successfully collaborate with an influencer, however, unless you have a good contract in place. Contracts help make sure that everybody is on the same page and that the expectations on both sides are clear. The following are some tips that may help you navigate your next (or first!) contract with an influencer.
Do your research
You do not want to pick an influencer whose brand identity is at odds with your company’s brand identity. That means combing through the influencer’s existing social media pages, looking at the quality of what they’ve done before for other companies and searching for any controversies or complaints that might negatively reflect on your business – before you hire them. This is a step too many companies have regretted skipping.
Negotiate clear terms
Clearly outline the terms of your collaboration, including deliverables, timelines and the type of compensation that you will pay. Ensure that both your company and the influencer are on the same page regarding the scope of work to be done and any exclusivity agreements. You also want to make certain that you understand and comply with all relevant regulations, including the Federal Trade Commission’s guidelines on influencer marketing, which require the influencer to disclose their relationship with your brand.
Protect your intellectual property
A lot of disputes involving influencer contracts end up centered on the usage rights and ownership of any intellectual property associated with the influencer. A good contract will stipulate who controls what and provide for a dispute resolution process that’s fair.
When there’s a lot on the line, seeking experienced legal guidance is wise. As contracts are binding legal agreements, it is best to safeguard your interests before signing anything and/or asking others to do the same.