From the rise of TikTok to the emergence of Clubhouse, the pandemic has fueled our consumption of information from influencers and brands via social media. Yet, the ever-evolving nature and popularity of different online platforms means that existing Advertising Standard Authority (ASA) guidelines are increasingly open to interpretation.
Influencers, brands and platforms can unwittingly fall foul of the regulations while consumers can find influencer marketing unclear and lacking relevant signposting. A recent survey of over 2,500 UK social media users revealed that more Brits are turning to influencers for financial guidance. Indeed, nearly a third (30%) of consumers who have seen an influencer or a celebrity giving financial guidance have acted upon it, despite only a quarter (27%) of Brits actually understanding the purpose of #ad, #affiliate and/or #gifted references on influencers’ posts. It is clear that rules of the road on influencer marketing are confusing and present a number of challenges for consumers and brands.
This year, Klarna formed an Influencer Council to tackle these issues, bringing together a variety of stakeholders from influencers to retailers, advertising experts and beyond. The council was set up with the aim of delivering complete clarity for consumers, brands, influencers and advertising bodies on what is acceptable and what is not when it comes to advertising financial products and services - and, ultimately, to remove any confusion among consumers.
Over the course of several months, the council discussed everything from responsibility, transparency and emotive language to geography and age range in order to create a considered and in-depth set of guidelines that go further than any guidance available today.
Download this whitepaper to discover:
- A best practice guide for advertising on social media via influencer marketing for all platforms
- A toolkit of readily available branded stickers, templates and badges to clearly illustrate the nature of a post
- How to ensure social media advertising is fully transparent and clear to consumers across platforms
- Where the responsibility lies for ensuring that all audiences know when an influencer’s post is advertorial in content
- Solutions to ensure online advertising is mindful of those dealing with their mental health or personal finances
You can download the full whitepaper for free here: