Published on 31st May 2023
This insight post is a summary of the original blog post published by LF Channel. View the full length blog post here: Influencer Marketing: Everything you should know about the new “influencer law”.
Influencers are here to stay and not just a passing trend. There have always been influencers and celebrities who lent their image to brands, but the world of possibilities opened by social networks has consolidated one of the most relevant marketing phenomena in recent years. This blog post offers relevant information specific to Spain, but the tips can be adapted to anyone working with influencers globally.
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It may seem obvious what an influencer is, but let’s see what the Real Academia Española, the main institution for Spanish language, says about it. According to the RAE, “influencer is an anglicism used in reference to a person with the capacity to influence others, mainly through social networks”. Within the marketing and communication sector, there have always been KOLs or Key Opinion Leaders, who are what we have always known as opinion leaders and represent the “authorised and reputable” voices on specific topics.
As the RAE says, in this case, after the appearance and consolidation of social networks in our society, the figure of many content creators has emerged. They position themselves as “influencers” using their high number of followers subscribed to their accounts or the high level of interaction (engagement rate) as supporting argument.
One way or another, we must not lose focus on the power of influence that a certain figure can exert on the opinion or purchase decision of a specific group of followers, whether through social media or another channel. An influencer may not have social profiles or their numbers may go unnoticed by brands, but they have enormous power of influence over the target audience of a specific campaign or communication action.
The “influencers’ law”, as the new General Law on Audiovisual Communication (LGCA) is known, was approved on 22 July of 2022, and replaces the previous legislation from 2010. The main objective of this new law is the regulation of content on the Internet and the balance of competition in terms of advertising, but obviously, the main reason for discussion is the taxation and payment of taxes that influencers have to assume.
Want to know what the main new specifications include? Check out the full blog post to learn more!
31 Mar 2023Content Marketing: The Strategy To Be A Brand Of Reference
This insight post is a summary of the original blog post published…