Doug Bania was appointed to the INTA 2022 – 2023 Right of Publicity (ROP) Committee. The ROP Committee develops and advocates policy on the right of publicity. The Committee monitors and analyzes developments in treaties, case law, legislation, and implementation in various jurisdictions, and proposes policy recommendations to the Board. Committee work includes writing reports and submissions, interacting with ROP organizations, and advocacy in conjunction with relevant committees and staff.
Bania was also appointed to the INTA 2022 – 2023 Influencers, Right of Publicity Subcommittee. The Influencers subcommittee will focus on influencer marketing and how leading influencers are becoming brands in their own right. The committee will explore case law, legislation, and implementation in various jurisdictions, and proposes policy recommendations to the Board.
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Influencer marketing has rapidly grown, and it is predicted to be a $5-$10 billion market over the next five years, resulting in more FTC guidelines and punishments when these guidelines are not followed. There is also a growing number of lawsuits over influencers not meeting their contracts. With this in mind, it is even more critical for businesses to know the actual value an influencers’ marketing can provide, and then use scrutiny to decide whether that value is worth the risk.
Using analytical and valuation tools, you can calculate the actual value that the influencer’s marketing can carry. This insight is extremely helpful when determining if a certain influencer is the right fit, and even more helpful when determining any financial damage an influencer has caused. This damage can stem from the brand representative’s image changing, or from influencers with bad publicity supporting your business without your permission. “It can be very risky when you connect your brand with somebody’s personality because we’re all humans,” said Doug Bania, comments. “Some people do good and bad things, so it’s a risk. The hard thing to determine is if the risk is worth the potential reward.”
Influencer marketing no doubt has the potential to help many businesses boost their market reach and boost value, and being able to identify and prove the value of their influence is extremely helpful when making strategic business decisions. Contact Nevium experts for more information on how this process can be done.
The potential for a company to expand its audience or tap into a new market by partnering with social media influencers is becoming increasingly attractive. “But the impact of social influencers can cut both ways,” Founding Principal Doug Bania told Daily News in an interview on the pros and cons of influencer marketing and what brands need to consider when implementing this advertising strategy.
“[Brands] need to be aware that when social influencers engage in bad behavior that makes the front pages, the company can quickly lose face with customers and lose money,” he said. “A brand that took years to build can be quickly forced into damage control.”
According to Daily News, the influencer marketing industry is predicted to grow by as much as $10 billion over the next five years, so it’s clear a growing number of companies are willing to take the gamble.
“When businesses weigh the cost of shifting some of their advertising dollars away from traditional marketing channels into less costly social media advertising, the strategy often makes sense,” Doug commented. “But some people do good things and some people do bad things, so it’s a risk. The hard thing to determine is if the risk is worth the potential reward.”
Doug expects the Federal Trade Commission will impose more guidelines in the coming years regarding social media advertising, as well as punishments if those guidelines aren’t followed. Read the full Daily News article here.
Sticks and stones may break bones, but defamatory words on the internet can break a brand. However, as internet tools become more sophisticated, businesses are more equipped to fight back and prove defamatory statements. In an article for The Intellectual Property Strategist, “Defamation Investigations: A Big Leap in Fighting Back,” Founding Principal Doug Bania explained what businesses facing online defamation should know when considering legal action.
Doug detailed various internet tools that can be used to valuate the actual impact defamation has on their business. “An effective online investigation is crucial to establishing a causal connection between the disparaging statements and financial harm, quantifying harm, and ultimately proving damages in court,” Doug wrote. He also explained that the economic impact of online defamation is typically measured in one or more ways: lost profits, corrective advertising and/or decrease in the value of the brand. Gathering data via online analytic tools and traditional damages analyses, can provide insights to support a damages conclusion and provide business owners new weapons in the battle to defend their brand value.
Read the full The Intellectual Property Strategist article here.
Online reviews have impacted businesses for a long time, but despite the potential virality in today’s landscape, businesses have more ability than ever to understand the actual impact reviews have and to prove damages. In an article for LegalTech News, “Proving Online Defamation: No Longer a Black Box,” Founding Principal Doug Bania outlined the current landscape, how to manage defamation as it happens and accurately calculate the harm when online defamation warrants litigation.
Doug explains that negative reviews don’t automatically mean negative economic impact and using Google’s Advanced Search tool, you can get a full picture of how viral the negative reviews are. “Impact doesn’t always mean harm, but Google Trends can help evaluate whether observed declines in revenue or rescinded business opportunities can be linked to the online disparagement by comparing changes in search volume related to the defamatory statement to keywords associated with the affected brand,” wrote Doug.
Read the full LegalTech News article here.