No longer in the market, you can make an impact only with print media or television ads. So you need to make your presence felt on social media channels. But just having ads on social media platforms is not enough to make your brand stand out and business flourish. You need to bring in individuals who can connect with your target audience and customers. The individuals are the social media influencers. However, their role is not limited to building trust with your customers. It is far-ranging from that, and when you hire them, you need to have a collaboration agreement with them.
When you contact an influencer who is the match for your brand and product, you start with an outreach brief. Once they have liked your brief and agreed to be your brand’s influencer, you need to draft an agreement with clauses so it safeguards you and the influencer when you do business together.
This article will discuss the need to have the influencer agreement, when to have it, and how to develop such a collaboration agreement.
Why & When You Need An Influencer Collaboration Agreement?
The simple fact is that when you collaborate with an influencer as a company/brand, both of you invest quite a lot into marketing.
Why Do You Need It?
The agreement’s purpose is to protect both parties while defining the ownership of the materials developed and used by the parties. It also outlines in detail the expectations that both the influencer and the company seek to attain from the campaign, the kind of campaign they want to run, and its duration.
The agreement also takes care of the U.S. FTC’s (Federal Trade Commission) guidelines, which bars a company or the influencer from developing advertising that is deceptive in nature and conducts any unfair business practices. The agreement thus illustrates a set of rules and regulations with the influencer that abodes with the FTC rules.
Establishing these rules helps the influencer understand the kind of content they can create for each type of platform and the audience focus they need to maintain. Furthermore, with each social media channel being different with their target audiences than others, the contract can also provide in detail the kind of content the brand wants to develop for each channel with the influencer.
When You Need It?
If you have the question when you need the agreement, the answer is the minute you decide to venture into a collaborative effort with the influencer. You and the influencer should sign the scope of work outlines, compensation, and other details before starting anything with the project.
In most cases, the contract offered to an influencer is of a less traditional business document; the collaboration agreement ensures both the parties know what they agreed upon for the campaign.
Now that we know what an influencer collaboration agreement entails and when it is required, it’s time to tackle the elephant in the room, i.e., how to develop it.
How To Develop The Collaboration Agreement?
When you are developing the influencer collaboration agreement, you need to ensure it is developed in a way that it has the following parts:
1. Type of content required for the campaign
This section requires you to outline the images, videos, relevant stories that the influencer needs to showcase during the campaign. It will also include the format in which these will be featured along with specific hashtags and predetermined aesthetics to be included in the campaign—also, the number of content to be published each week, month, and entire campaign period.
2. Duration of the campaign
This clause will include the campaign’s duration and the period of exclusivity that is when the influencer is being refrained to work with any competing brands.
3. The Creative Control
This is an essential section when developing the agreement since it will determine who will have the rights to the images, videos, and stories. This clause also points out who will be providing the images and videos, whether the influencer has to find them and be reimbursed for them or the company claiming the intellectual property if they pay for it.
4. The Payment
When, how, and after which intervals will the influencer get paid during the campaign. Will they be get paid in currency only or both currency and complimentary items? Additionally, in case you hire an international influencer, specify the currency with which the payment will be made.
Who will have the copyright over the work, licenses, and right over the intellectual property, and for how long should it be mentioned in the agreement.
6. Reviewing The Content – PR
Since influencer marketing aims to engage with the audience, it is vital to state who will review the material once it is published. At times, negative comments can negatively impact the influencer’s image and the brand, so an agreement should be in place to decide who will handle the PR and the audience engagement.
7. The Standard Clauses
Even though, as mentioned earlier, often an influencer contract is not like a typical business contract, it will still need to include the standard features written in a contract like names and addresses of both the parties, dates, deliverables, detailed description of the work needed to be done, clauses for cancellation, NDA and other features that will warrant the protection of the company and the influencer.
Once you put all these items for collaborative agreement in place, you are good to go with your influencer collaboration for your company to reap the benefits of this new but vital marketing strategy.
Developing an influencer collaborative agreement is not easy, so hiring a professional is the best way to do it. There are competent companies that handle the influencer agreement, so why not hire them to do the job while you can develop your business and content ideas for the campaign.