3 Things to Negotiate With Influencers Before Launching Your Campaign
When you decide to run an initiative with influencers, there are many moving components. It is essential to plan your strategy to find social media influencers who are in line with the values of your company and engage them in brand collaborations.
Before you begin engaging influencers, you must explain to them what you would like them to do in the course of your campaign. You should also explain what you could provide them with as an incentive.
While certain influencers may agree to the agreement without a second though, other influencers will prefer to negotiate the terms and conditions.
Read on to find out more about the topics you should discuss with influencers during negotiations.
- Incentive
The incentives in influencer marketing campaigns can be either monetary or non-monetary incentives.
Non-monetary is a term that’s used to refer to products or services that the brand offers to the influencer at no cost. These are great payment options for small brands and for influencers who micro or nano (under 50K followers).
Moving up from there, you’ll have to work monetary compensation into the mix, too. That could include:
- One-time flat-rate
- Split fee, part upfront and part after the fact
- Commission-based with a flat fee (ex $5 for every sale they bring in)
- Commission-based with a variable rate (ex: 5% per every sale they bring in)
Before you can reach the point of negotiations, it’s crucial to determine what you can afford to pay each influencer.
2. Publications
The second thing to negotiate is the publications that the influencer will create in exchange for the incentive. Consider the number of publications you’d like influencers to produce, and also what types of publications they should be.
Also, you should discuss what influencers include in their posts, such as:
- Brand mentions
- Branded hashtags
- Links to your site
- Instagram shopping items
- Discount coupons for followers to use
- Disclosures that conform regulatory guidelines
At this stage, it is also a good idea to get the permission of the influencer to reuse his or her content later on. This allows you to incorporate it into your own social feeds, your websites or any other location that it fits.
3. Deadlines
Another topic you must discuss with influencers is your date for the campaign’s release. What deadlines must they meet? Examine if the influencer you work with can meet these needs based on the kind of content you want.
When you are negotiating your schedule take note of the specific dates you have to consider, like Black Friday, a spring sale, or a product launch.
If influencers can’t meet your demands, you may be able to negotiate the type of content. For instance, maybe they can’t produce a long video, but can produce a quick clip. Just make sure to negotiate their incentives accordingly.
Conclusion
Negotiating with influencers is an essential phase in establishing any partnership. So, before you begin, make sure that both parties agree on the most important elements of the campaign to make sure that it runs smoothly following the launch.
