Are the FTC’s Regulations of Social Media Influencers Sufficient?
Using celebrities to sell products is hardly a new or innovative practice. Throughout time, celebrities have endorsed almost every product imaginable, from clothing and makeup to cars, credit cards, food, and even milk. This practice has been so consistent over time because, put simply, it is effective: brands are willing to spend whatever it takes to get the sales boost that typically comes with a celebrity partnership. Social media is extremely prevalent in today’s society (the average person spends about two hours a day, or up to nine hours a day for teens, on social media). As a result, social media advertising through influencers (individuals that have the ability to impact an audience’s behavior through their social media posts, such as bloggers and celebrities) tends to be a highly effective way to for brands to interact with their customers. It makes sense that brands are moving their product endorsements from traditional media outlets to the social media world. Consumers put a significant amount of information about themselves onto social media sites, which allows for very specific tailoring of content to individual consumers. Further, social media advertising tends to be less expensive than traditional advertising channels. According to Liz Dunn, founder [read more]