While negotiating with social media influencers, brands must strike deals that are beneficial to both parties involved.
With influencer marketing set to reach $15 billion by 2022, now is the time marketers collaborate with influencers for their campaigns. Brands must focus on building meaningful relationships with the influencers who can be tapped for future collaborations. To begin with, determine what goals they would want influencers to reach.
While choosing the right kind of influencers, look into factors like their content quality and the type of audiences they cater to. Marketers must also research what exactly motivates the influencers. These factors help brands offer the right kind of compensation while drawing contracts with influencers.
Address how the brand plans to handle sudden contingencies and the metrics used to measure the influencers’ impact on the campaigns. Apart from setting specific content creation guidelines, allow influencers the creative space to develop content.
[8 minute read]