TALKING SOCIAL MEDIA
INFLUENCERS, AGENCIES, AND MONEY—OH MY! Understanding Paid Influencer Marketing Campaigns by MELISSA HUNTER, founder, Family Video Network ONCE A NOVEL CONCEPT, PAYING influencers to promote toys is now a key part of marketing strategies. An entire industry formed around sourcing influencers for campaigns. Like any new industry, it can unfortunately be a little shaky, and the standards are not really set in place yet. It is easy for brands to get confused and overwhelmed with the whole process of paying influencers. But in reality, it is just like any other business transaction. The keys are to understand who you are paying, what you are paying them for, and what you can expect in return for that payment. CHOOSING AN AGENCY Influencer agencies came along with the rise of influencers. These companies often have no background in traditional marketing, advertising, or public relations. They only know one thing— social media—and they know it well. With so many agencies to choose from and new ones opening every week, how do you decide on the best fit for your brand? Do your homework and ask questions. Ask for recommendations from industry colleagues. Figure out: What is the business background of the principles? What other brands have they worked for? If you know your counterpart at those brands, call them up and ask for their feedback. What makes this agency qualified to serve your brand? If their answer is simply that they can connect you to the biggest influencers, move on.
paign. Company A goes out and sources influencers, manages the contract negotiations, and acts as your go-between on the campaign. For that service Company A charges you a management fee of $10,000. Company A is acting as your agent. Now let’s say you choose Company B to execute the same campaign. They play the same role with one exception: They do not charge a management fee. They take a 10 percent commission from each of the influencers. Are they acting as your agent or the influencer’s? How can you be sure that Company B is negotiating the best possible prices for your campaign? Ask up front what the payment arrangements are with the recommended influencers. The Company B scenario is more common, so it is important for all parties to understand at the end of the day whose interests Company B truly represents, especially if things go wrong on a campaign.
KNOW WHERE YOUR MONEY GOES Understanding who you are paying for coverage is about more than just choosing an agency; it is about actual agency. For example, imagine a $100,000 influencer cam-
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THE TOY BOOK | DECEMBER/JANUARY 2019 | toybook.com
MANAGE EXPECTATIONS Social media influencers are not actors, directors, writers, or producers. Many of them are families who fell into the business unexpectedly, so don’t expect a TV-quality commercial in return for your payment. The reason that influencer marketing is so powerful is the relatability and authenticity of the influencers. That’s what makes them influential. For best results, create a clear list of talking points, including what NOT to say. Agree on a creative approach and ask for a basic outline of the content. Make sure you agree with their approach before the cameras roll. Agree in advance—in writing—how many revisions you can request, aside from any needed corrections of a factual nature. If you do the pre-filming communication properly, you shouldn’t need many changes. Can’t you just do this yourself? Absolutely! Having an in-house influencer team is a great strategy, but if it’s not in the budget, select an agency armed with these tips. Choose a company that understands your brand, is transparent about their fee structure, and can provide you with the best influencers for your brand. Be clear up front about creative strategy and expectations, and put it in writing so there is no confusion later. Remember: This is still a new industry and sometimes it’s a little unsteady, but by working together, brands, agencies, and influencers can build a strong solid foundation for the future of toy marketing. » Melissa Hunter is better known in the YouTube world as Mommy, the co-host of Mommy’s World, a toy and doll unboxing channel. In 2014, she launched Family Video Network, an influencer network and consulting company that works with the top toy brands and social media personalities in the kids and family space.
