Influencer marketing is the new buzz word for marketers today with 80% of marketers considering it as effective, and 89% agreeing that it works just as well as other marketing channels. It is, in fact, fast becoming one of the most popular and cost-efficient ways to engage consumers - so if you're in this niche, a social media influencer agreement is a must.
As this new marketing trend evolves further, both businesses and influencers look for ways to prevent legal considerations which may arise because of the nature of the influencer’s role in creating media (videos, posts etc.) that can add additional risks to brand owners or non-fulfilment of financial obligations towards influencers, due by the brand.
Whether you are a social media (Instagram, YouTube, Facebook, Twitter) influencer or an organisation looking to hire such an influencer to endorse/promote your brand, drawing up a simple influencer agreement template can be instrumental for your working relationship with each other as it helps to set forth terms, licensing, payment and other key contract terms in an ethical and legal way.
This is where a social media influencer agreement can help!
A social media influencer agreement is a legally binding contract that clearly sets out the terms and conditions of a working relationship between a digital marketer and social media influencer or content creator.
It is an official document that covers various aspects of the social media content creation process to safeguard the interest of both the parties and to ensure that they understand their respective commitments to the project.
Among other advantages of a simple influencer agreement template are:
To align expectations between social media influencers and brands, your social media influencer agreement should contain the following points to ensure seamless collaboration:
A clearly defined scope of work, instead of generic statements, needs to be included in the simple social media influencer agreement along with the specific deliverables the influencer needs to follow to fulfill the agreement. An example of this could be 'two 500 word blog posts or 15 images to go with a 1 hour webinar'.
This section specifies the terms that the brand owner may want the influencer to warrant. It includes the finer details of marketers' expectations in terms of what the content creator should do, set down requirements such as the use of hashtags, number of blogs or videos, frequency of posts and more.
It includes the details of the ownership rights for the work associated with the project. The influencers’ posts generally involve the creation and use of a great deal of IP (intellectual property), including the post, images or words along with the influencers’ image and name. The social media influencer agreement should mention who owns these rights (normally the influencer) and their wider use.
The agreement should also mention the start and end of date of the contract. Apart from this, it should cover the termination rights of the company for any kind of reputation damage, breach of the terms of the agreement or failure to comply with applicable legislation.
This segment includes the payment details in terms of amount to be received by the creator/influencer and whether it is tied to/not tied to the success of the project. Other details to be included are the payment structure and eligibility for payment reimbursement in case of travel involved during the working relationship.
The popularity of influencer marketing as a way to connect with the audience is at an all-time high. To use this channel well, creating a simple influencer agreement template is a crucial aspect of the arrangement you make with the content creator or social media influencer. It helps to mitigate the risk of any sort of miscommunication as it is put down in writing what both parties are expected to do during the duration of working relationship.