Influencers are a unique breed of creative marketers. While influencer relationships are similar to traditional contractor-contracted arrangements, they have a different collaborative style. This is why brands have built their businesses around these types of relationships.
As a result, they are often instrumental in the development of marketing campaigns and sales. They also contribute to the planning and execution of marketing activities. Successful influencers use their distinct style to create online communities that share similar goals and experiences. They can help businesses establish a brand authenticity that is vital to their customers’ buying decisions.
While you may prioritize your brand’s bottom line, it’s important to remember that building strong relationships with influencers is key. This will allow you to negotiate effectively and efficiently.
The top-performing are known for being professional and passionate about their work. They can also be unpredictable when it comes to their responses to marketing messages. However, if an influencer does respond to your email or direct message, they’ll likely be focused and ready to make a positive impact on your brand.
Tips for Negotiating a Brand Influencer Contract
Negotiating a contract with an influencer can be a bit unpredictable, so it’s important to learn how to handle the situation. You can only learn so much about an influencer by their online presence. That’s why it’s important to prepare and message them from a place of respect.
1. Have a Budget Range Set For Influencer
Before you start the negotiation, you must have a single influencer in mind. This will help you set the tone for the contract. You should also have a list of red lines that you’re willing to negotiate.
Before you start the negotiation, you should have a budget range that includes the amount of money that you’re willing to spend on the influencer. You should also set aside a set of bonuses that will help you reach your goal of getting the influencer contract signed. These may include travel expenses, event tickets, sales commissions, and free products.
2. Draft Contract Proposal to Begin Negotiations
After you’ve completed a recon, you should be able to create a customized influencer marketing proposal template. Although you should be specific in terms of the contract, make sure that you’re open to negotiation. In your initial proposal, you should include the following:
Number of posts wanted
Anticipated duration of the contract
Ideal content formats
The message and values of your brand
Most influencers are passionate about their work and take it seriously. They may not want to work with a production team or film crew, but they might be willing to negotiate if you take the burden off them.
3. Negotiate Deliverables and KPIs Based on Initial Communications
After you have received the first response to your influencer marketing proposal, it’s time to talk about the details of the contract. Your first proposal covered basics, and now this will outline the exact deliverables desired.
Campaign content and type
The message you want in content and the CTA
Post deadlines and frequency
Exclusivity duration and details
Objectives and KPIs you want to be reached
4. Outline Clear Usage Rights and Influencer Contract Terms
If the influencer is happy with the contract, you can proceed with the details of the contract. However, if they’re still not satisfied, you should negotiate back and forth until both of you agree on the contract’s terms.
5. Bear in Mind Repurposed Content
You should consider the various campaign types and goals when it comes to influencer marketing. For instance, if you want to create effective branded posts, you should consider an influencer who can perform across multiple platforms.
Getting more mileage out of your influencer posts can also be done through various forms of marketing. For instance, you can add a post to your company website or send out email blasts.
In real life, influencer marketing contracts can involve more traditional forms of marketing, such as endorsements. These deals involve the development of tighter partnerships with the influencer.
If you’re planning on continuing with a certain influencer campaign, consider other ways to reduce your marketing budget. For instance, if the influencer charges more than you expected, you can use that money to repurpose other content.
6. Negotiate Long-Term Plans After End of Contract
The contract should include what exactly happens once the business relationship ends. One of the contract’s clauses should include a list of situations that would allow you to leave the contract before it expires. This will include any red flags that could prevent the influencer from working with you.
Working with influencers can be beneficial and lucrative for your business. What’s important to consider when it comes to influencer marketing is the internal alignment working with them will have on your organization.
This article researched and written by Alison Lurie.