The FTC wants influencers to adhere to guidelines when disclosing their relationships with brands, as an increased effort to prohibit false advertising. Previously, influencers could write #ad at the end of a post, however the FTC is now saying this is not enough. The newly released guidelines include disclosure within the message (not just at the end), more prevalent hashtags, and in videos the guidance is to frequently reference the relationship with the brand or have a watermark on the video. I am very interested to see how this plays out, and if it influences consumer behavior. Influencer marketing has proven to be a successful channel and is projected to be a $15B business by 2022, with total social media advertising expected to be $37B by 2022. Since it is such a large industry, these guidelines from the FTC will have a large impact and brands will have to find new ways to stand out without feeling so much like an ad. I am interested to see how social media influencers comply.
https://www.ftc.gov/news-events/press-releases/2019/11/ftc-releases-advertising-disclosures-guidance-online-influencers
Michael Atleson, a Staff Attorney for the FTC's Bureau of Consumer Protection said “Many consumers rely upon influencer recommendations in making purchasing decisions, and they should know when a brand paid an influencer for an endorsement, because it affects the weight and credibility the consumers may give to that endorsement”
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