If your business is considering partnering with a sports personality or social media influencer, it’s crucial to protect your brand
When a well-known figure faces negative publicity, the brands they are associated with often scramble to disassociate themselves. This type of marketing strategy can be risky, but with the right precautions in place, your business can mitigate potential damage to its reputation.
Small businesses now have more opportunities than ever to collaborate with emerging athletes and micro-influencers. Regardless of the level of support you provide, having a well-drafted contract is essential to safeguard your brand image. Remember, building a brand takes time, but it can be tarnished in an instant.
What the Partnership Entails
Clearly outline the scope of the collaboration in the contract. Specify whether the individual will promote your overall brand or specific products/services. Will they use the products publicly or simply discuss them? Detail which social media platforms they will utilize for promotion and any specific requirements for events or appearances.
Duration of the Partnership
Determine the duration of the partnership based on the nature of the collaboration. Long-term commitments can help build a connection with your audience, while shorter-term arrangements may be suitable for one-time promotions or reviews. Include start and end dates in the contract to provide clarity for both parties.
Execution of Promotional Activities
Specify how the individual will promote your brand, whether through product sampling, endorsements, interviews, or other activities. Ensure compliance with Advertising Standards Authority guidelines for influencers to maintain transparency with their audience.
Payment Terms
Define how the individual will be compensated, whether through a lump sum or staged payments. Consider tying payments to performance metrics and include provisions for bonuses or penalties based on results. Avoid prepaying for services to protect your interests.
Termination Clause
Include a clear termination clause that allows you to end the agreement swiftly if the individual’s actions jeopardize your brand reputation. Define red lines that, if crossed, warrant immediate termination. Conduct thorough vetting to mitigate potential risks before entering into a partnership.
Communication is key in influencer partnerships. Address concerns openly and ensure both parties adhere to the contract terms for a successful collaboration.
Peter Kouwenberg is a partner at Taylor Walton Solicitors.
Learn More
Influencer marketing for the small business – Discover how SMEs can leverage influencer marketing to boost brand visibility on social media.
The Key Elements of an Influencer Marketing Strategy – Explore the benefits of influencer marketing as a compelling advertising strategy in today’s digital landscape.