At the point when you choose to run a drive with powerhouses in your showcasing there are a great deal of moving parts. It is crucial to outline your strategy and find social media influencers who align with the values of your company and make them part of any brand collaborations.
Before you begin activating influencers, you need to explain the goals you want them to achieve in the course of your campaign. You should also explain what you can provide them with as an incentive.
Some influencers may agree to the agreement without a second glance, but other influencers would prefer to negotiate the deal.
Continue reading to discover the issues you must be aware of when negotiating with influencers.
The incentives in influencer marketing campaigns can be either monetary or non-monetary.
Non-monetary is the term used to refer to products or services provided by the brand to the influencer at no cost. These are great payment options for influencers in the micro and nano range (under 50k followers).
After that you’ll almost always have to pay monetary compensation, too. Concerning fees, there are number of options for you to consider:
- One-time flat-rate fee
- Part up front fee, other part after completion of services
- Commission-based, with a fixed fee (ex $5 per sale they bring in)
- Commission-based, with a variable amount (ex 5% for every purchase they generate)
Before you get to the stage of negotiations, it’s crucial to determine what you can afford to pay influencers.
The second element of influencer negotiations is the publications your brand will get. Think about the amount of content that you’d want influencers to produce, and also the various kinds of content.
It is also important to describe what you’d like your influencers to include in content, like:
- Brand mentions
- Branded hashtags that reflect your campaign
- Links on your site
- Instagram shopping items
- Discount codes
- Disclosures to comply with regulatory guidelines
In this instance it is also necessary to get the approval of the influencer in order to republish his or her content later on. This allows you to incorporate it into some of your feeds, websites, or wherever else you think is appropriate.
Another topic you must talk about with influencers is your campaign’s date of publication. What time and day do you want your posts to be released? See if the influencer you work with can meet these needs based on the kind of content you want.
In negotiating your timetable, be aware of any relevant dates, like the launch of new merchandise, Black Friday, and so on.
If influencers can’t meet your deadlines, you may be able to negotiate the type of content. For example, maybe they can’t produce a video, but can produce an Instagram story. Just make sure to negotiate incentives accordingly.
Negotiating with influencers is an essential step in the process of establishing any type of partnership. At this point, make sure that both parties are on the same page regarding the most important aspects of the campaign in order to ensure it is successful following the launch.