The influencer marketing industry is experiencing rapid growth as more businesses adopt a relatively new marketing channel. About 80% of marketers already find influencer marketing an effective method of reaching a targeted audience, while 89% say ROI from this channel comparably outdo those from other marketing channels. So, if you are in this niche, there's hope to do more and get more contracts. But you must have an influencer collaboration agreement template if you must work with other influencers and companies.
Influencer marketing spearheads its way to the top as one of the most popular and cost-effective ways to engage consumers. Businesses and influencers often seek to leverage the rapid growth of the niche while preventing legal issues that may arise while doing business together. Companies want to avoid cases of creating online content by influencers that can add risk to their brands, while influences seek to prevent non-fulfillment of financial obligations. These are some of the underlying reasons why you should have an influencer collaboration agreement template to work with an organization.
An influencer agreement is a legally binding contract that defines the terms and conditions of a relationship between an influencer and a brand/company. The agreement can also work between an influencer and a content creator or marketing specialist.
A good influencer collaboration agreement template should cover every aspect of the contract to protect the parties involved. Also, the document explains the roles and commitment of each party to the success of the project.
Below are some of the advantages of using an influencer collaboration agreement, among others.
A well-comprised influencer contract will cover relevant information that serves the interest of all the parties involved. A typical influencer collaboration agreement template should include the following.
Every influencer collaboration agreement is between two or more parties; hence, the document should provide a field to define the parties involved. Information in this section includes the brand name, the influencer, mailing address, and phone contact.
Influencers have specific tasks as defined by the agreement they enter with a brand/company. These may include representing the brand in a function, creating and posting promotional content like video, texts, and graphics. An influencer collaboration agreement template should also mention the specific brand and how often the attention of posts of the influencer would be needed. The platform to promote the brand such as Facebook, Instagram, or Youtube should also be specified.
This broad section may include provisions for contents, videos, length, frequency of post, and more. It consists of the start and end date of the agreement, deadlines, requirement for approval, and the number of posts per time.
A influencer collaboration agreement template should make provision for payment, the amount, and the pricing model. State if there is an upfront payment say 25%, discount, and bonuses for high performing posts or free access to products or services.
This section takes care of the type of agreement and other information yet to be covered. Some influencer marketing agreements may be exclusive deals, in which influencers are not allowed to promote different brands or work with competitors.
You'd be missing an essential part of your contract if you create an influencer collaboration agreement template without a section defining the party that owns the intellectual property and materials created during the campaign. Also, the agreement needs to specify the conditions for termination and what happens afterward.