Post by account_disabled on Apr 29, 2024 23:08:27 GMT -5
This way you can estimate the maximum budget for your first collaboration. Once you have some performance data you can move on to negotiations . – Senior Influencer Manager Estimating this way is n’t exact but if you’re feeling lost in the early days then this is a great way to start paying influencers . Most Marketers Ask Influencers to Share Their Prices First When You Reach out to a New Influencer for the First Time Should You Ask Their Prices or Give Them Your Budget ? Most People First Ask about price. It 's a simple negotiation best practice after all, right ? Mark Dandy ( k ) recommends first clearly writing down the deliverables you want and then getting in touch and asking for a price. “You essentially need a checkout process.
That 's all I ask for. How much are you going to pay me once the price comes up can usually be negotiated within the range . Likewise Ben Williams always goes this route. He asks about the price up front and then tries to negotiate in a similar range ( at most lower). But some, including those on the marketing team , have taken the opposite approach. Ajita got straight to the point and shared the budget up front Netherlands WhatsApp Number List This saves time on the round trip . You will gain goodwill even if in some cases you pay more than the influencer charges . Creators feel well compensated which can have an impact on long-term relationships . Nicole Hampton also believes marketers should come up with a budget upfront. Her position is that marketers need to know how to assess the value of each influencer based on your goals . This controls the negotiations by sharing the budget . “Make a call and be prepared to discuss activities , goals , deliverables, usage and budget .
Just be comfortable walking away Sometimes pricing just doesn’t work Paying more to get someone on board isn’t worth it . Your goal should always be to balance fair payments with efficient spending. I think both strategies are viable although the latter is less feasible until you have a lot of experience and data to feel confident in your pricing . If you’re new to influencer marketing or even just starting out in a new role industry then it might make sense to ask about creator rates . If you have extensive experience in your field (and therefore a historical baseline) and you wish to establish a long-term partnership then it may make sense to share your budget first . Engagement rate is the most commonly used data point in pricing. I asked respondents to share which data points, if any , they use to consider how much they should pay influencers . The most important metrics are Engagement Rate Average Views Percentage of Audience in Target Locations Here are some observations .
That 's all I ask for. How much are you going to pay me once the price comes up can usually be negotiated within the range . Likewise Ben Williams always goes this route. He asks about the price up front and then tries to negotiate in a similar range ( at most lower). But some, including those on the marketing team , have taken the opposite approach. Ajita got straight to the point and shared the budget up front Netherlands WhatsApp Number List This saves time on the round trip . You will gain goodwill even if in some cases you pay more than the influencer charges . Creators feel well compensated which can have an impact on long-term relationships . Nicole Hampton also believes marketers should come up with a budget upfront. Her position is that marketers need to know how to assess the value of each influencer based on your goals . This controls the negotiations by sharing the budget . “Make a call and be prepared to discuss activities , goals , deliverables, usage and budget .
Just be comfortable walking away Sometimes pricing just doesn’t work Paying more to get someone on board isn’t worth it . Your goal should always be to balance fair payments with efficient spending. I think both strategies are viable although the latter is less feasible until you have a lot of experience and data to feel confident in your pricing . If you’re new to influencer marketing or even just starting out in a new role industry then it might make sense to ask about creator rates . If you have extensive experience in your field (and therefore a historical baseline) and you wish to establish a long-term partnership then it may make sense to share your budget first . Engagement rate is the most commonly used data point in pricing. I asked respondents to share which data points, if any , they use to consider how much they should pay influencers . The most important metrics are Engagement Rate Average Views Percentage of Audience in Target Locations Here are some observations .