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Like everyone else, influencers are feeling the impact of the coronavirus on business.
Contractual agreements underpin the huge numbers of influencer endorsements and brand deals brokered between companies and digital creators.
But the imposition of travel bans, and the reduction in brand budgets and commensurate declines in ad revenue, has torn up the old rules of influencer marketing.
“There is no doubt that the coronavirus outbreak has changed the brand-creator relationship in influencer marketing, especially when it comes to campaign contracts,” said Ben Jeffries, CEO and co-founder of Influencer, a London-based influencer marketing firm.
“The coronavirus outbreak encouraged brands to be more flexible with creator content and understanding of the fact that creators should be given a certain level of freedom when it comes to interpreting a brief and creating content.”
Likewise, the legal agreements behind that content have changed too.
“The coronavirus has definitely added a level of scrutiny over what influencers can and can’t deliver,” said Josh Jaskiewicz, partner at Sheridans, a law firm that works with brands and influencers. “Some [changes to agreements] are subtle and some not so subtle.”
No more marketing campaigns based on big events
One of the main changes has been in event-based campaigns: creators are no longer flown …read more
Source:: Businessinsider – Tech