Are you hiring influencers or providing them with free product in exchange for publicity about your business?
Are you using written influencer marketing contracts when engaging with these influencers?
As influencer marketing gets more and more common among brands and businesses, it’s absolutely critical that you have influencer marketing contracts in place and even more important that your contracts are buttoned-up to protect your business. In this episode, I’m joined by Mitch Jackson, of Streaming.Lawyer, and he provides 21 clauses that should be in every influencer marketing contract.
Let’s do this…
About the show:
The Social Media Social Hour is a podcast for marketers and entrepreneurs looking to get on the social media fast track. The podcast is an interview format, where each week I get up close and personal with top brands and influencers to talk social media, tech and online marketing. Each week I share tools that I personally use to help me with social media management, sales, marketing, accounts management, and productivity. The Social Media Social Hour is presented by Tack – Power your marketing with authentic content from customers and fans.
In this episode, here is what you’ll discover:
- How the Fyre Festival failed to follow the rules and regulations of influencer marketing.
- Why full disclosure is critical for influencers.
- Why it is essential to have a valid, written contract.
- How to be careful when engaging in influencer marketing and agreements.
- Why the FTC is cracking down on those who are not following the rules.
- Why you need “clear and conspicuous” disclosure when you are posting or promoting.
- Why hashtag disclosures are insufficient.
- Why receiving consideration plays a major role in disclosure.
- Why you should establish contracts between the brand and the agency, as well as the agency and the influencer.
Memorable quotes from Mitch:
- “Influencer marketing is huge, but it’s not the wild, wild west anymore.”
- “Having an agreement is place ensures everybody plays safely in the same sandbox.”
- “Make sure you get that signature.”
- “Enjoy the dance and keep doing things outside the box.”
22 clauses that should be in your influencer marketing contracts:
- Have a written contract.
- Have a start and end date to the contract.
- Establish a scope of work: which platforms will the influencer be influencing on? What is the frequency of the influence? Etc.
- Have a clear compensation plan.
- Ensure that the influencer’s work is truthful, non-fraudulent, and can be documented.
- Pay attention to intellectual property rights – who owns what?
- Establish content retentions rights – who will continue to own what?
- Ensure that everybody is complying with all writings, laws, and regulations.
- Have exclusivity agreements – can the influencer promote competitors?
- Confidentiality clause – can the influencer talk about the terms and conditions?
- Delivery format – how will the influencer be delivering his or her final product?
- Make sure that everything you do follows FTC requirements.
- Establish final authority before distribution – who has the final say in what is shared?
- Establish derivative content rights – who has the final rights to the final product that was shared? What happens if a new asset comes out of the campaign?
- Establish a clause regarding metrics – are there any requirements for the agency or influencer to keep track of the metrics and ROI?
- Have Liability insurance – establish a clause that says that the influencer will purchase and maintain some sort of liability insurance.
- Have an indemnification clause to ensure that the influencer will reimburse the agency or brand from wrongful conduct if the agency or brand gets sued because of the influencer’s actions.
- Have a hold harmless clause – establish that the violating influencer will make sure that the agency and brands are not held responsible for anything.
- Have an applicable clause and venue clause – if there is a disagreement, ensure that all the disputes will be involved in a specific locations.
- Ensure mediation and arbitration – establish that if there is a disagreement, the involved parties agree to mediate and arbitrate the dispute instead of allowing the case to going court.
- Establish an attorney’s fees clause so that if somebody wrongfully files an action against you or your company, the other parties involved will reimburse you.
- Get a physical signature on the agreement and include a clause that says the original, copy, or digital version of the conclusion are all valid.
Items mentioned in the show:
- Tack – UGC Curation Tool
- FTC Endorsement Rules for Social Media and Live Streaming
- Contact Mitch Jackson and his company
- Contact Tyler