By Courtney Moser
What is it worth to you?
In business today, we can get so caught up with strategy, plans, cost and deadlines that we lose perspective. But, the idea of value should always be top of mind – especially when working with influencers. Both brands and influencers should ask “What is it worth?” when entering into a campaign agreement.
After all, everyone has a job to do. Some brands expect influencers to work solely for free samples or get frustrated when they don’t accept the first payment offer, but remember: this is their business, too. What is their work worth to you? What value are you offering them?
As this Entrepreneur article says: “Producing unique, interesting and relevant content for a campaign involves a great deal of work and effort. When pitching influencers, agencies should bear this in mind and propose something that will benefit everyone involved.”
When brands and influencers respect the others worth and business, negotiating becomes a whole lot easier. But let’s back up – before even entering into negotiations, make sure you’ve done your research and chosen the right influencers for your brand. Once you’ve identified the influencers you’d like to work with, reach out and introduce your brand – remember, influencer marketing is a relationship, and this is setting the stage for it.
Discussing influencer rates can be tricky, and there are no set rules. Many influencers evaluate and determine rates on a case-by-case basis, but some will have media kits with a list of prices.
“Be prepared — and respectful — of what their rate might be. If it falls within your budget, great; if not, it will help determine what caliber of blogger you can partner with. While an A-list influencer is most likely not willing to do a sponsored post for $300, a newer blogger might gladly do so and reach the niche audience you are so lusting after,” as said in this Small Business Trends article.
Following are a few tips to keep in mind when you start negotiating a brand-influencer agreement.
Outline strategy and goals: Let the influencers know exactly what your brand wants to accomplish with your campaign. They are the content and social media experts, and hopefully, your professional partners. It will be easier to work together if you have a clear understanding and visibility from the start.
Determine expectations: This is as simple as it sounds – what value are they bringing to the table? What do you expect them to produce? Discuss all factors of content and promotion, including what will be created, when it will be published, where it will be shared, and so on.
Prioritize communication: Throughout the introduction and negotiation process, keep communication at the core. This will help to prevent any future misunderstandings once the campaign begins.
Still have questions? Contact the Find Your Influence team for further campaign guidance.