With the rise of social media, influencer marketing is becoming an inevitable part of marketing and everyday business. Whether you are thinking of implementing influencer marketing into your business strategy, or you are planning on becoming an influencer marketer, there are a few things you need to know first. From having the right budget to starting right and how to find the best influencers to advertise your services or products.
Keep reading to find out what you need to set up influencer marketing along with things you should consider legally.
Becoming an influencer marketer
Do you have a large social following? Perhaps you have an audience that thinks you are an expert in your field? Do you think you can get more followers from influencer marketing? Being an influencer marketer may appear glamorous but it does also take work. But that doesn’t mean it cannot also be rewarding if you put the right foot forward.
Before you take this big step there are some areas you need to look into first. Helpfully we have detailed them below.
Legal requirements
Doing any kind of business, even if it’s using your social media profiles to advertise a lip balm, means there are laws to consider. Here are the two main elements of law regarding influencer marketing:
1. Consumer Protection from Unfair Trading Regulations 2008 (CPRs); and
2. The UK Code of Non-broadcast Advertising and Direct & Promotional Marketing (CAP Code).
If this is something you are considering doing make sure you are fully up to date with the regulations. You have probably heard some horror stories where influencers have found themselves in hot water.. This has primarily been because they didn’t put the work into researching first. You can avoid the common pitfalls like failing to disclose you are being paid to advertise products. This and more can be found within the legislation. Alternatively if you need some help in understanding the legislation reach out to us, K&K Legal Consulting, and we will be happy to help.
Understanding the rules of influencer marketing
Different rules apply to different countries, so always make sure you know the current requirements in the target country. Generally, most rules say that you need to be transparent and make it clear it is an advertisement so that your followers know that you are being paid to advertise.
Use relevant hashtags and place them upfront on the post so that the audience can easily see them. You can find tons of hashtags on the Advertising Standards Agency website.
Finding the right marketing influencer
There are several types of influencers, starting from nano influencers with less than 10k followers, to micro, macro and mega-influencers with over 1m of followers which are often celebrities.
Finding the right influencer comes down to the audience. First, study your target audience, what they want and who is most likely to need your product or service. The right influencer is the one whose audience matches your target audience.
Unlike celebrities or mega-influencers who may cost you a fortune, there are smaller influencers with a better engaging audience that will do just fine. Some influencers don’t even charge. They are happy to be compensated for the products or services they are promoting.
Do your research and scroll through their posts to find out if they have any comments and how genuine they are. There are many influencers who would pay for comments or have multiple profiles just so they can add as many comments as they can.
On the other hand, there are agencies who can help you find an influencer for your brand, but that is also an additional cost. It’s best to use your own judgement and research skills to find the right influencer to promote your brand. And you can search for them on one of the many social media platforms such as Facebook, Instagram, TikTok, YouTube, Twitter, and many more.
Do I need a contract to hire an influencer to promote my brand?
Whether you are looking for an influencer or you are an influencer who is about to get into business with a brand, it is best to have the terms and conditions written down and put into a contract. Include your expectations, the duration if it’s a vlog, deadlines, and what is allowed and what is not.
Before signing the contract, have a professional review it. With a contract, both parties need know what to expect so there are no surprises down the road.
If you are looking for someone to draft a contract for you we are here to help. You can find us at www.kkbservices.com
Conclusion
Although influencer marketing can help you increase your reach, there are other types of online marketing that will equally contribute to the overall business growth. From content marketing and digital marketing, to search engine marketing and direct mail marketing, you can also build your brand name and grow your business. This is where we pass you back to the lovely CherryAid Marketing who can advise you on all things social media.
