2023-10-08 22:21:10
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These cards emerged before the pandemic in North America, around 2019, with the aim of creating a financial product that links the brand and the influencer. Today, they are one of the most applied modalities in the United States by luxury services that want to increase their reach.
Gestión spoke with Sergio Cuervo, Professor of Digital Marketing and Electronic Commerce at ESAN to learn more regarding OTH cards. “Companies that want to be sponsored by influencers are brought together and services are enabled so that they can post what they are doing. Preferably on Instagram, because it is a social network that has the greatest impact.”
Along the same lines, Eliana Gávez, a specialist in commercial management and influencer marketing, added to Gestión that “this line of credit starts with US$50,000 or US$70,000 or more, but it will depend on how these influencers are performing at the level.” reach and how they collaborate with brands. These companies can reload your cards or increase your line of credit as your reach improves.”
Influencers must meet requirements to receive an OTH card. Photo: Neo
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What is required to have an OTH card?
The specialist details that, for an influencer to be considered and awarded an OTH card, they must have a minimum number of followers required to ensure the impact of the content they generate.
“In the United States, the business model works by attracting these influencers who generate a lot of content and the reach they generate. They must have a minimum of 100,000 followers because brands measure reach, the publicity they generate and monetization. The deposit will be measured by the impact that these figures have on the industry,” explains Eliana Gálvez.
Currently, brand management through influencers plays an important role in the strategies that organizations seek. Companies combine their conventional branding management strategy with the use of influencers because both parties usually win.
In this process, brands will define what audience they hope to attract and, depending on this, they will agree to work with an influencer who has these followers.
“The field of action they have is important. There are brands that are more global and require influencers who are international. They are also segmented by category, there are some that are linked to themes of beauty, gastronomy, those seeking fun, etc.,” says Sergio Cuervo.
Influencers maintain a commitment to the brand by receiving an OTH card. Photo: OTH Network
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Benefits of having an OTH card
When an influencer receives an OTH card, they can enter several establishments, including “normal and luxurious restaurants, the main nightclubs in the city, beauty themes, body care, gyms, hotels and trips,” says Eliana Gálvez.
For his part, the ESAN specialist adds that these services are located in “the United States, it is only in some cities: New York, Los Angeles, Miami, among others. However, the maximum contribution that an influencer can receive is unknown, but it is known that this amount increases and greater benefits are generated as the number of followers increases, because this allows brands to want to relate to you through these means.”
On the other hand, influencers also run the risk of OTH Network canceling these cards, or having them expire, since another of the responsibilities that the figures have is to ensure a projection in their metrics while maintaining a good image.
“While it is true, they can meet the requirements, but it is also analyzed how long they obtain these followers, and this information is used to project and make a decision. On the other hand, the influencer has a commitment to society because he has the support of the brands. If you are in trouble or appear in the media for negative things, and these brands are not interested in this, they will surely withdraw their support. The image is important,” says Sergio Cuervo.
Another important point in the commitment of both parties. Eliana Gálvez adds that companies expect a monthly reach from the influencer, so they would have to lower the reach, the generated and for the card to be put to good use as well. “These cards are generated for a while to use. At the beginning, the American model started with one to two years. Now, the time has been reduced. Everything will depend on the content that is produced.”
There are several brands that trust their branding management to global influencers. Photo: eleven
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Could payment with OTH cards be applied in Peru?
The National Superintendency of Customs and Tax Administration of Peru has not yet fully regulated the activities carried out by influencers. Therefore, it is difficult for them to have a credit card or to have a credit history.
Eliana Gálvez believes that “in Peru there is a problem with influencers. The Sunat has recently gotten its act together to pay taxes now that they earn a lot of money and live off of that alone. When paying taxes, what is asked of big brands is that this be banked and that influencers generate a receipt for fees. “As there is a legal issue, it will be easier for the financial system to control income.”
Finally, the digital marketing expert mentions that “implementing the model here will be very daring because there is not enough management culture between the brand and the banking entity to know how influencers work. Until it becomes a fully regulated activity, it will take some time for it to apply because banking entities do not see influencers as completely trustworthy people. Their income is variable, unless they have an exclusivity contract.”
For his part, Sergio Cuervo indicates that “it is not a bad idea, but we must take into account our reality. There are influencers here who have many followers, but I don’t think they have more than 1,000 million followers. There is a lot of exchange here. A segmentation should be made for each influencer, who is the target audience, who follows them. With that, the service might be developed, which is still interesting.”
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