Using influential people to promote a product or service has recently been a popular strategy. The appropriate influencer’s support might help your business break through to previously inaccessible consumer groups. The effectiveness of your digital advertising efforts may hinge on your ability to cultivate meaningful connections with influential people.
Plan ahead to reap the rewards of collaborating with top influencers. The success of every business partnership and the profitability of any investment hinge on a contract that has been carefully drafted and negotiated (ROI).
Have no idea where to begin? Get the most out of your influencer campaigns by following our comprehensive guide on negotiating with social media influencers.
Study the influencer’s impact
The greatest social media influencers recognise the need of investing in a credible brand identity and infrastructure to capitalise on the growing demand for their services brought about by influencer marketing. Media kits and rating cards are not only for A-list celebrities anymore; they help marketers assess influencers of all stripes before signing contracts. In addition, many micro-influencers have experience collaborating with brands.
A good media kit will explain who their audience is, what sets them apart creatively, and what they provide their clients in terms of content. There might also be information about the influencer’s previous campaigns in the toolkit.
Packages detailing the influencer’s rates for various forms of content may be included in their rate card. Check out these resources to see whether influencers are a good fit for your company before you launch an influencer marketing campaign.
Without a rate card and a representative, you’ll need to do some digging to see if this influencer is right for your campaign. Use social media monitoring and management software that keeps tabs on KPIs such as:
audience size, number of comments, use of hashtags, etc. and determine if the value they’re offering for their accounts is reasonable.
Estimate Payments
The most influential people on social media invest a lot of time and energy into producing engaging posts for their followers. Considering the massive impact influencer material may have on your social media marketing, premium rates are warranted for such high-quality work.
You may get a sense of how much money would need to be spent on the campaign by looking at the influencer’s rate card. You can strike a deal based on the regularity with which they are expected to provide material or the depth of their commitment over the long haul. If the influencer sees that your company will be providing the content or covering the influencer’s content creation costs, they may be ready to reduce their pricing. In the case of video production, for instance, your company may supply a videographer in addition to the necessary gear and production. However the price rises up if the influencer has to pay for the creation themselves.
Some possible price-influencing elements are:
- Effects of the influencer
- How well-versed they are in the issues your campaign seeks to address The nature and calibre of the material they create (image, video, podcast, IGTV, etc.)
- They have a quota of posts that must be published
- Partnership Term Size
Provide some more incentives to seal the transaction
You may motivate influencers to work with you by providing them with bonuses. Rewards for becoming an influencer often consist of:
- Gifts in kind
- Accommodation and transportation during advertising campaigns
- Obtaining a Membership or a Subscription
- Invites reserved for special guests
- Aperitifs and dinners
- Earnings from affiliate links
Objectives of the campaign should be negotiated
The influencer you choose to work with should be familiar with the objectives of your campaign. Campaign proposals should include a briefing document that details the deliverables in light of the campaign’s stated objectives and key performance indicators. Keep in mind that the goals and parameters of the campaign are up to discussion.
Influencer marketing results can take the form of:
- Implementation of signature brand messaging
- Content categories Meeting schedules and goals
- Affiliate marketing and the usage of promotional codes
- Calls to action in material, which result in mentions and links
Discuss and agree upon the contents
A solid social media marketing plan is essential for collaborating with top influencers.
It’s crucial to know what works best for each social network, as most of them support a variety of content kinds. Choose your content kind thoughtfully, since this might have an effect on the influencer’s compensation.
These are some examples of common content formats that might be part of your influencer marketing effort.
Content sponsorship
The influencer creates the material for your campaign and shares it throughout their social media accounts. Many popular people on social media also have a sizable following on another network. Yet, companies can request sponsored material on social media sites.
You may either negotiate for the influencer to make casual references to your brand or product, or you can pay for them to create entirely custom sponsored content. Think about incorporating the influencer’s blog into your campaign if they have one. Make sure you get some numbers before deciding on a price.
Organizing giveaways
Your brand’s influencer encourages his or her audience to take an action (share, like, subscribe, follow, tag a friend, or submit information) in exchange for a chance to win a reward. It’s possible to supplement a giveaway promotion with several content categories.
Taking over the social media
For a set amount of time, an influencer will manage the brand’s social media accounts and post content on their behalf. Takeovers and partnerships on social media are frequently used to promote new events or products. Such mergers and acquisitions frequently result in a win-win situation for both parties involved.
The Instagram account of makeup shop Sephora was recently taken over by beauty expert and educator Tamanna Roashan. Sephora’s goal in featuring Roashan was to sell the products she demonstrated how to use in a series of bespoke how-to films, while Roashan used the platform to promote her own company, a series of beauty workshops.