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.
As a freelancer, you may have grown accustomed to working alone.
But as the freelance gig market continues to expand, freelancers are sometimes asked to work together, similar to the way in-house teams work for organizations. Maybe your workload has grown to the point that you’re turning down work you’d like to do. Or perhaps you want to bid on a large project that requires different skill sets, so you’ll need to involve others to win the job.
In these and other examples, collaborating with other freelancers may be required on certain projects, bringing together different skills and abilities.
It’s important to approach a collaboration the right way, and that includes having the relationship, roles and responsibilities documented in some sort of contract. If you don’t know what that should include, a collaboration agreement template can help.
So whether you plan to use a service to help you or you’d like to formulate your own contract, let’s look at the 9 key considerations in creating a collaboration agreement template.
You can call your collaboration agreement anything you want, but treat it with the same diligence and formality as a contract with a client.
Just like other aspects of your business, a handshake agreement isn’t enough. It’s not good enough for you, your collaborators, or the clients who will be relying on you. So treat your collaboration like the rest of your business dealings.
In that regard, have a collaboration agreement template ready with all the essential sections. You can then make adjustments based on the actual project and the people with whom you’ll be collaborating.
You’ll want to decide among the group who is the primary contact with the client, and have that role specified in the collaboration agreement template.
If you’re the one bidding on the job, or the one who secured the work, then perhaps that’s you. Or maybe it makes sense for another freelancer to be the main contact, based on the work involved or the expertise needed.
The client should know the members of the team, but it’s important to figure out the main contact. You want to prevent the client from having multiple touchpoints as the project progresses. It’s easier for the client and for the collaborating team.
This likely means the client will have a contract with that main contact point, and the collaboration agreement will serve as a contract among the rest of the team.
This is another key component of a collaboration agreement. Using the work breakdown of the project as a guide, create a schedule that outlines who is responsible for each part of the work, right down to specifics if necessary. Being clear now eliminates confusion later.
This can be done with a table, a spreadsheet or a bulleted list. Each person needs to know exactly what work they need to complete. If there are dependencies, state that as well. For example, your work may depend on the completion of a section by someone else.
Part of the work breakdown has to be deadlines for each piece of work. There can’t be any confusion as to when each person’s work is due. This is especially true if there are dependencies.
Once again, having the deadlines clearly spelled out in the collaboration agreement template will eliminate any disagreements. And it’s worth having the work done well before the client’s deadline, so that any reviews can be done and corrections or additions made by the team members.
An adjunct to deadlines is the need for regular communication among the collaborating team members.
It’s worth adding specific dates to the collaboration agreement template, ensuring that the team is connecting regularly and updating each other on the status of the work. It’s also an opportunity for the client contact to communicate any of the wishes, questions or concerns of the client.
In the same way that one person should be the go-between for the client and the collaborating team, there has to be one person to make final decisions. The project will fall off the rails if there’s no clear indication who gets the final say in the event of a difference in opinion, or if changes need to be made mid-project.
Once again, this could be you if you’re the one who secured the contract and then found collaborators. Whoever holds this responsibility, it needs to be part of the agreement to eliminate any disagreement.
The collaboration agreement template also needs to spell out who gets how much money. This one is absolutely vital, as it would definitely cause problems if it’s not clearly spelled out.
Distribution may be based on workload, if some members of the team did more work than others. It could be an even split among all the members. Whichever method is used, it needs to be part of the agreement.
As well, any expenses should be outlined in the agreement, so one member of the team doesn’t spend money that the others don’t know about.
The team also needs to agree who will own the final product, and include that as a section of the agreement. If the client will own it, that should be stated.
But even in that instance, can the members of the team use the work as part of their freelance portfolio? Can everybody be credited equally if there is some type of public announcement following the work? Or does only the client contact person get credit?
These are important considerations that need to be included in the agreement.
You may need some legal advice to create this section. But it is worth outlining what happens if someone breaks the contract, or leaves before the work is done.
Do they forfeit their share of the revenue? Do they have to share their work done to date? What if one of the team members isn’t getting their work done and is missing clearly agreed-to deadlines?
It’s worth putting some thought into a termination plan in case things go south. In this way, you’ll have all the essential components of a collaboration agreement template.
Even if you've worked with a professional before, you still need a collaboration agreement to work together on a new one. Things can change, and factors surrounding new business deals may differ, hence the need for a collaboration contract whenever you have to partner with two or more persons for a project. How do you ensure there's a contract if you have no collaboration agreement sample or template to use?
It is simple; your first option might be running to Google to see if you can see a guide on how to craft one. But right here, we have ready samples that you can download and customize to your taste. Besides, if you still want to craft a unique collaboration agreement sample, that’s fine.
Go through the essentials of a collaboration agreement in the last section of this article to find information that will help you.
A collaboration agreement (also known as a cooperation agreement or joint agreement) is an agreement between at least two parties who are planning to work together on a commercial project. The agreement is useful for establishing the ground rules for the business partnership. It defines the work to be done, and when it begins, the expectations plus cost and income.
Besides, a collaboration agreement sample should also cover terms like ownership, confidentiality, revenue, and conditions for termination. Usually, before writing a collaboration agreement, the parties involved would meet to brainstorm on the project at hand. All parties involved sit to negotiate the terms and conditions of the agreement before putting it in writing.
You should use a collaboration agreement sample in the following scenario:
Read on to discover the essentials of a collaboration agreement sample.
The first step in creating a collaboration agreement document would be the title of the contract. This title should be explanatory for anyone to understand what the agreement is all about.
Next is the identification of the parties involved in the agreement. Include the company details, names, email address, contact address, and phone numbers of the collaborators.
Budgeting is an important part of collaboration agreement writing. The budget shows details about income and expenses with regard to the collaboration. A good collaboration agreement sample would give room for a profit-sharing formula among collaborators and how losses will be maintained. Besides, the agreement should include mutual consent for funds, sources of income, and expenses among the collaborators.
Every collaboration has a start and completion date. Include the start date of the agreement and the duration it is expected to last. Add dates for milestones if applicable to track work progress and manage the collaboration.
Define who owns the intellectual properties created during the course of the collaboration. Also, include a clause of confidentiality to keep trade secrets and certain business information from third parties.
Your collaboration agreement sample should give room to explain the conditions for termination and premature withdrawal from the contract. Also, it is best you include the action to take if a party decides to withdraw from the agreement before the scheduled termination date.
Depending on the type of collaboration agreement sample you can create, the document may include terms and conditions that are specific to the agreement between parties. These may include the limit of the contract, funding sources, the definition of roles, among others.