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Influencers deserve even more guidelines and legislation

Influencer marketing has been seen as the Wild West for most of the past decade. Everything was possible and brands had difficulty navigating. This was a new industry for marketers too. They were not sure where to find data and who to trust. Working with influencers took a lot of effort, because the industry lacked guidelines.

Over time, however, this industry has grown into a full-fledged media stream that has become an essential part of any marketing mix.

With the development of influencer marketing, brands, marketers and influencers have started setting up the first guidelines themselves, making the industry more regulated.

Understanding

This evolution has been made possible in part by the increasingly available means to analyze statistics and detect fraud, for example. But possibly most important to the development of the industry is that brands, marketing agencies and content creators have grown themselves and gained a deeper understanding of the industry. This has led (and still leads) to improved guidelines and thus to an improved industry.

Prejudices

Yet there is still a lot of room for improvement. Many people do not yet take influencer marketing seriously: it often happens that influencers work without a contract, do not get paid or suffer from infringement of their rights. In addition, current events in 2020 have shown us that the industry has even more underlying problems, such as bias and unfair pay. Such problems will need to be addressed immediately – these exploitation practices will only slow down industry progress.

In order to enter a phase where influencer marketing offers an equal opportunity for all involved and brands and marketing agencies can optimally utilize all the possibilities of working with influencers, the industry needs more guidelines and regulations. This development will have to continue.

The professional marketing agencies that specialize in and have a strong focus on influencer marketing are the agencies that refresh outdated concepts and approaches.

They point the way to improving the industry, performance, and influencer protection. These marketing agencies work according to standardized rules and contractual obligations and thus provide the necessary professionalism and efficiency for the industry.

Expertise

Influencer agencies that have been around for a while and have run thousands of campaigns have developed deep expertise in the industry. These agencies can ensure that the relationship with the influencer is professional: they set prices according to concrete and fair standards, accept price negotiations and work under contracts that safeguard intellectual property rights and other applicable laws.

In addition, influencers and their performance are objectively assessed based on concrete metrics such as reach, engagement rates, content, etc. These agencies, along with the brands that really understand how influencer marketing works and how effective it can be – and therefore each welcome industry development – strive for improvement and make a difference. If we continue to push for improved guidelines, our industry can continue to grow.

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