Signing up for a data-driven influencer marketing platform gives you a great start to your influencer collaboration. But there is no industry standard price to influence collaboration. This is why negotiating with influencers is the hardest part. On the one hand, you have your budget limitations, while on the other hand, you have to take care of the interest of the influencer. It does the hard work.
But with a little research, you could master the art of influencer negotiation. Here are some expert tips to get you started:
1. Be specific about your content needs
Being ambiguous about content requirements when interacting with influencers creates a lot of confusion for the parties involved. Eventually, most influencers end up giving you a higher quote than usual. It is because they perceive things in a different way than what you want to convey to them. You should be very specific when asking about content timelines, participation expectations, quantity and nature of the content. It is the only way to achieve a lot.
2. Talk about content use rights
To negotiate a better-than-usual deal with social media influencers, you need to be transparent about everything. You should talk to influential people about the property rights of the posts. If you want your brand to take over the rights to use the content, you should discuss it beforehand with influencers. Also, you must clearly mention it in your contract.
3. Set the price according to the participation levels
You may have some expectations about content commitments. You need to show it to the influencer and set a threshold engagement level for each post. However, you should also talk about a different compensation approach if the content does not meet the expectation levels that you agreed to with the influencer. This way, you will be able to put a tab on the price and negotiate effectively.
4. Offer a long-term partnership
An influencer would like to charge a lot for a short concert. But for long-term collaboration, you might be willing to negotiate a lower price than usual. You can take this opportunity to build a long-term relationship with the influencer while keeping your budget to a minimum.
5. Consider offering benefits
If you don’t have a huge amount of money to spend on your influencer marketing campaign, you can still make up for it with benefits. You just need to jot down some creative ideas to pitch to influencers wisely. If you get it right, the influencers will likely agree to negotiate a lower rate than usual with you. Put your negotiating skills to work and you will be surprised to see positive results.
Conclution
Remember that negotiating with influencers is not rocket science. You could easily do it with a little smart work. Using a data-driven influencer marketing platform works wonders if you can negotiate a better deal with influencers. Here are some helpful tips for you to put to work and meet your campaign goals in your budget.
