In today’s world, amongst all the social media platforms, Instagram is the leading platform for significant brand collabs. You get an audience, and almost every brand has a presence on Instagram. From a broad perspective, these two things make the best money-making opportunity. Moreover, nearly 93% of brands use Instagram for influencer marketing. You can make a profitable deal by posting products suitable to your niche. Through this, you will get new followers, increasing your earning capacity. Many brands hire influencers to post about their products. With influencers’ help, brands emphasize reaching a new audience to make an impact. This further results in brand awareness and more revenue generation.
In the influencer marketing world, brands opt for two different concepts to pay. It is necessary to get an idea of both of them for a successful brand collaboration:
- Paid Collaborations – This can be referred to as sponsorships which means influencers get financial compensation or free product(s) in exchange for posting about the brand.
- Influencer Gifting – Some brands give products to influencers to post about their brand on their social media channel. This can be referred to as barter collaboration.
Some influencers look forward to getting financial compensation. But, various factors must be fulfilled by influencers to get paid collaborations with the brands. You will learn various ways to earn money in a brand collaboration.
- Ask for compensation – Whenever a brand contacts you if they are missing the payment part. Then, ask politely if they have a budget. Usually, 80% of brands mention payment in the first email. But this doesn’t mean they don’t have a budget. If, in case, the brand reverts, saying they don’t have any budget. You can ask for barter collaboration if it will be a fruitful brand collab for your audience.
- Mention deliverables – As discussed in the above step. If the brand submits a budget, you can ask to raise the funding by mentioning your deliverables. Deliverables can be a single blog post, blog content, and a combination of IG posts.
- Write about your rates – Negotiations are not everyone’s cup of tea, as this is similar to sales. Various factors like Exclusivity, Engagement Rate and Rights to Content impact the calculations. By using the below-mentioned formulas you can start using them like:
- Instagram post: $80 per 10,000 followers
- Instagram story: 30-40% of your commercials for an Instagram post
- Giveaway: 10-20% more than your commercials for an Instagram post
- Press tip: This can be clearly discussed with the brand transparently
Token of advice: Send your commercials in a package style to make it look like a deal for the brand.
- Discuss the creative ideas – When sending the package details, mention some creative ideas for the brand. This will set a benchmark for the brand for what they will be getting in return. You can also attach some images from your past campaign for the previous brand. Do share the results, as this will increase the chances of conversion of the brand collab.
- Look for a long-term collaboration – By posting about the brand once doesn’t deliver the expected results. An average consumer is delighted when seeing a single product multiple times, leading to a purchase. Explain the brand of this theory via email, as this is not directly related to money. But will give you improved ROI.
- Introduce other platforms – Wherever and whenever possible, introduce platforms into the campaign. This will result in a long-term collaboration. The brand will enjoy higher ROI, and your audience will get amazing content to engage with.
The above steps were to ask for more money in a brand collaboration. Incorporating these steps carefully will help you get your high-paying clients. Your audience would love to know about those brands. So, focus on generating value for the brand and your audience. Further, read about the things to be mindful of when negotiating.
Top 3 things to be mindful about negotiations
As an influencer, you have the right to negotiate with the brands. But there’s always a way to do it by following a few things:
- Quality matters: As an influencer, having many followers looks amazing. But what doesn’t looks nice is a bunch of blurry photos. To nurture your audience, it’s essential to post quality pictures for a high engagement rate. Try to curate your Instagram feed with beautifully edited photos.
- Make a smart decision: Don’t just choose any brand collaboration. Make an intelligent decision by looking at brand values and your potential audience. Keep in mind the campaign should be relatable to your audience, as your credibility is also worthy.
- Relevant content: Trying to woo brands is amazing. But your profile shouldn’t look like you were supposed to post educational content, and you are posting travel-related content. If you do so, the brands or your audience won’t take you seriously.
Negotiations are difficult as they can sometimes help you achieve a rewarding brand collaboration or sometimes let the collaboration slip. As an influencer, understand you are a public figure. No offer is good enough. It doesn’t excite your followers. Because at the end of the day, if your followers don’t engage with your content, then it will be a big loss for you. You will fall short of meeting the brand’s expectations. If you are starting your career as an influencer marketer, you don’t need to opt for exposure or freebies.
The Final Words!
Denying paid collaborations with less compensation is always not a good idea. You can choose paid collaborations at least at fair compensation. Always keep the counteroffer so that both parties get the benefit. Because, your followers also need content and brands also need influencers who can help them make a difference in the market. So, make sure to follow this blog carefully whenever you initiate a conversation with any brand for negotiations. To reach out to brands with a good marketing budget and looking for influencers, visit Afluencer. You will definitely get many companies to whom you can reach out for a successful high-paying brand collaboration.
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