There is a need for a high standard of ethics because, unlike a big business where there are clearly defined rules about accepting favours or gifts, that “doesn’t quite work” in a one-man business.
“There can very easily be a temptation to compromise on things like editorial integrity. It’s not so explicit as taking a bribe, but it can be very subtle, like feeling that maybe because this company is important to me in terms of referrals and advertising, that therefore I cannot criticise them too harshly as well.
“I don’t want to pretend that there has never been a temptation. I think it would be dishonest to say that I’ve never even thought about that, but at the end of the day, I think blogs live and die based on their reputation.
“From day one, my philosophy has been that if I come to a point in time where I feel that I can’t afford to get a company mad at me, that is probably when I should stop writing because if I feel that a company has become so important to the business side of the blog that it hampers my ability to write objectively about it, and then we’re in a very bad place.
“I would like to think – and I hope the audience community believes as well – that we’ve been able to stick to that.”
Similarly, SG Budget Babe’s Ms Cher said she has rejected sponsorships for products she would not recommend to others due to their high risk, such as Forex trading.
“You need to have a certain knowledge to be able to see what the problem with the brief is, and not just regurgitate what the client wants you to say in the sponsored message,” she said.
“When I work on sponsored gigs, I dig up a lot more than what is in the brief, and sometimes to the point where the client says ‘can we not say that?’ and then I’m having a discussion with them to say that this is really important and that I don’t think it is right to hide the risk or the cons.”
She added that she has walked away from deals, even though the final product was “almost ready”.
Ms Cher estimates that 30 per cent of her content is sponsored, adding that she declares to her followers if she was paid to put out a product.
“Sometimes I cover things because it is really just good or it’s bad and I’m trying to warn people, and I don’t get paid for any of them.”
She did not want to disclose how much she earns, saying it’s “very hard and sensitive” and it would make it difficult for future negotiations.
“The second reason is because I realised that as a finfluencer, when I watch my friends who disclose their income, I think the comments are really quite uncalled for and I don’t want to deal with that.”
Ms Cher added: “If today, I no longer have any sponsorships, I will continue running my blog and social media. I will still continue posting finance content because that’s what I care about.
“But if there are no sponsorships, then I wouldn’t be writing as much sponsored stuff … why should I promote this product when they are paying other people? I’m not their free mouthpiece and free labour.”
OCBC’s head of group brand and communications Koh Ching Ching said social media is an important channel for engaging stakeholders.
“In addition to creating our own content, we collaborate with social media influencers as part of our branding, marketing, and public education efforts. We value their ability to create relatable content and their extensive reach,” she added.
The bank takes a “thorough and discerning approach” and works with influencers “whose values align with ours and who practise responsible branding and marketing”.
“We ensure that any content created with influencers is balanced and factually accurate. Key features and risks of our products and services must be communicated clearly, and all sponsored content must be clearly labelled,” Ms Koh told CNA.
