In the world of social media, the role of influencers is becoming increasingly
pivotal. As such, it's important to understand how to negotiate brand deals effectively. This blog post aims to provide some helpful insight into this process.
What Can You Negotiate? The scope of negotiating brand deals extends beyond just financial compensation. Here are some aspects you can negotiate:
The products you receive
The number of deliverables
Payment terms (NET 30, etc.)
Should You Ask For Their Budget? Discussing compensation can sometimes be a delicate matter. A tactful approach could be to inquire about the brand's budget for the partnership. However, it's crucial to remember that their budget does not dictate your worth. You should always aim to charge appropriately for your content.
Selling Yourself: Proving Your Value Brands are interested in understanding the value you can provide. This necessitates showcasing your strengths and leveraging your best numbers. Factors you can highlight include your engagement levels, the professional equipment you use for content creation, and the trust your audience places in your recommendations.
Sharing Recent Partnerships
Sharing the performance analytics of your recent successful partnerships can help convince brands of your capabilities. If you've previously posted about the brand organically, it can demonstrate your genuine affinity and support for the brand.
Creating Packaged Deals Understanding the brand's partnership goals can help you optimally utilize your platforms. For instance, if the brand wants a single Instagram post, you could also offer a blog post or an Instagram Story series. Creating bundled deals like these can not only provide more value but also boost your rates. An example of such a package could be a 'Brand Awareness Package', comprising of an Instagram post, three Instagram story frames, a dedicated blog post, and two Pinterest graphics.
Learning to Compromise Sometimes, a brand might not be able to meet your rate. However, if this paves the way for a long-term relationship, it might be worth compromising. A long-term partnership can often be more beneficial than a one-off campaign. Even if you accept a lower rate initially, you can negotiate deliverables and ask for more later.
Concluding Thoughts Negotiations often involve making counter-offers and compromises. It's essential to approach this aspect of business without taking things personally. Effective negotiation is a skill that gets better with practice, and each partnership will offer invaluable learning opportunities. Remember to be confident, sell your value, leverage your strongest numbers, and don't be afraid to walk away if the deal doesn't serve your interests.
I hope you found this helpful! With the right negotiation skills, you can secure long-term, lucrative partnerships that are mutually beneficial.