In Colombia, according to a study by Influencity and Statista, there are around 645,000 influencers or content creators, who constantly share opinions and experiences related to beauty, entertainment, travel, fitness, among others, on social networks.
In figures, this market at the local level, according to a report by the Spanish marketing platform FuelYourBrands, has grown 35% in recent years. Other data from IAB confirms that the investment of Colombian companies to hire influencers went from $8,757 million in 2019 to $117,563 million in 2023, that is, it skyrocketed by more than $108,000 million in just five years. In addition, It is projected that by the end of 2024 these businesses will register record numbers that exceed $300,000 million – 2% of all advertising investment in the country.
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But beyond what these good indicators say, there is currently a concern when hiring content generators to promote different brands.
Although influencers bring benefits to companies thanks to the level of trust they have with their millions of followers and the closeness they generate with their followers; the impact and reach on social networks, If not handled responsibly, it can facilitate the implementation of strategies and scams that allow them to profit financially., not only to them as public figures, but also to the companies that hire them to take advantage of their impact on Instagram, Facebook. TikTok or on X (formerly Twitter).
It is enough to remember the case of the “Wall Street crocodile” and her husband, related to the capture in February 2022 of two American influencers involved in an alleged money laundering practice. The named individuals were Ilya Lichtenstein and Heather Morgan, accused of participating in an operation to launder hundreds of millions of dollars in Bitcoin.
In Colombia, scams were also widely reported in the media. The most memorable occurred in Bogotá, in July 2023, when a renowned influencer scammed several citizens using a housing project. This person, who is currently facing more than 40 legal proceedings against him, She was investigated by the authorities for fraudulently receiving millionaire sums of money. In fact, one of his victims revealed that they closed the deal with the construction company of which he claimed to be the owner, because they could not access credit, but they never delivered what they promised.
These situations, along with others, raise concerns about the risk of linking companies to these public figures without consulting further references or validating certain antecedents. Well they would say out there, “Followers we see, intentions we do not know.”
It is no secret to anyone that this stigma falls on some of these public figures, since due to the millionaire income, businesses and products marketed, it is presumed that some, without generalizing, could be immersed in this type of behavior.
Taking the above into account, the Compliance Coordinator of Tusdatos.co, Angélica Cañas, announced practical recommendations that companies can make in order to build solid and trusting relationships with influencers, to avoid falling into legal risks. They are the following:
- Carry out a prior investigation of the person and, if applicable, take additional measures if situations are evident that fall outside the normal parameters of the economic activity that the person influencer does.
- Establish agreements that allow the brand to carry out permanent and continuous monitoring regarding the content creator and commercial activities.
- Demand that he or she, as well as the agency that represents him or her (if applicable), Establish guidelines that confirm that you are promoting it is advertising to avoid committing administrative infractions.
- Know in advance and comply with the obligations under the consumer protection regime.
- Make sure that the influencer always inform the public that follows you about the existence of the commercial relationship you have with the brand.
But be careful, not only companies must take care of this process, it is also recommended that content generators know beforehand which brands and under what conditions they will work. For this it is recommended:
- Analyze and know the corporate purpose of the company, its reputation, the businesses and transactions it carries out. Also, it is suggested validate the image of your representatives or administrators.
- Identify the general and special rules that apply to the products that you will market with the brand that will hire you, in order to Do not make mistakes that lead you to violate the Consumer Protection Regime.
- Make sure that the commercial messages that you will promote on your social networks are clearly identified as advertising and that they correspond to reality, otherwise, you could be penalized legally and administratively.
“Remember that the marketing of influencers It should not be seen as something negative, as it is a growing trend and from which a lot can be gained. The challenge is to do it well and take into account the recommendations presented to avoid headaches,” concluded Angélica Cañas.
