3 KEY TIPS TO NEGOTIATING INFLUENCER BRAND DEALS

Negotiations between a brand and an influencer or creator are similar to an employer and potential employee. A recent CNBC poll found that 85% of prospective employees who counter-offered their prospective employer were successful in increasing their starting salary. But when you’re eager to work with an employer or brand the negotiation process can be intimidating, especially when influencer marketing has much less transparency around fair market rates than standard salaried roles do.

Although there are platforms similiar to GlassDoor for creators such as FYPM and Clara for Creators which shares rates brands are paying creators of all levels, negotiating does not have to be intimidating, risky or confusing. I’ve found that if there is an intention to work together between a brand and a creator/influencer, a straightforward negotiation process leads to common ground that can make both parties winners.

Here are a few key insights on how to approach successful brand + influencer negotiations:

Key #1 – Brand + Influencer Alignment

As an influencer, don’t look to partner with brands just for name recognition. Those brands often have influencers lining up around the block to work for pennies. It’s not worth your time and energy. You should start with the brands that you already use and love, and that will also resonate with your following. An authentic connection between an influencer and a brand product or service is what creates true added value for both your following and theirs.

Key #2 – Shared Value

To build win-win brand partnerships, the brand must recognize the value the influencer provides and vice-versa. Brands that understand their target audience will appreciate the value of a niche, highly engaged influencer following and seek it out. They won’t set unrealistic goals for one-off partnerships like “double our following” or “increase monthly sales 50%.” You want to commit to a slow-and-steady burn of consistent content that builds awareness, consideration and trial usage over time.

Key #3 – Know Your Audience

The local ice cream shop down the street probably does not have a $20K per month influencer marketing budget. But that doesn’t mean you can’t work together. If you have a local following that loves ice cream, go in with a reasonable offer and be prepared to be flexible to adjust terms and deliverables to fit their budget.

Example:

Say you pitched a potential client a $20K package, but they come back and say their maximum budget is $10K. What do you do next? Start by pairing down the deliverables, usage rights, exclusivity and terms. When both sides are willing, it’s always possible to reach a solution where the brand’s high priority needs are met within a budget that makes sense on both sides.

So when that next brand opportunity arrives in your inbox or your DMs, be patient and confident while negotiating a mutually successful partnership!

Ready to secure your negotiate and secure brand deals with confidence? Contact us today to learn more about the Brand Partnerships Starter Bundle.

Follow @itjdsprojects for more tips!