To help you seal the deal on your holiday pitch, we spoke to two creators in the Willa community about calculating your holiday campaign rate, knowing how (and when) to share pricing, and how to successfully negotiate the perfect partnership that lasts into the new year. Part 2 of our Holiday series.
Now that you’ve sent out your holiday pitches and caught your potential partner’s attention, it’s time to dive into the details.
To help you seal the deal on your holiday pitch, we spoke to two creators in the Willa community about calculating your holiday campaign rate, knowing how (and when) to share pricing, and how to successfully negotiate the perfect partnership that lasts into the new year:
With many physical stores closing shop and customers staying home, 2021 has led more people to rely on technology than ever before. In fact, this year an average of 85% of people globally are shopping online, averaging over 80% for Gen X and Boomers.In a recent interview, ShopStyle Collective general manager Lindsay Jerutis told WWD that the company expects influencer-driven sales during the holidays to more than double from last year’s level.
They also predict that gift guides and shopping recommendations tailored to influencers’ audiences will lead to a higher-than-normal sales boost of 103 percent throughout the holiday season.
@nicolettemasonIt’s no surprise that social media influencers have become indispensable for brand campaigns – especially this year. In fact, influencer marketing is on pace to become a $15 billion dollar industry by 2022!
That’s why this year, it’s more important than ever that creators know exactly how to value their worth and negotiate successful partnerships this season.
As you know, a lot that goes into creating content for brands. To make sure you’re covering your costs, it's important to consider all the extras that go into getting “the perfect shot.”
So what exactly is a fair asking rate? How do you present your value to potential partners? What are important things to consider when agreeing on a collaboration?
While there is no one-size-fits-all pricing, many influencers abide by the one cent per follower (or $100 per 10K followers) rule – but only as a starting point for their calculation.
With so many varying factors to take into account– like follower count, engagement rate, project scope, and production costs — it’s no wonder it can be challenging to put together a fair rate to present to potential partners.
Florida-based content creator Megan Rae Eastburn (@meganraeoflight) advises influencers to look beyond their base rate, using the following formula to calculate your total rate:
Base Rate + Photographer + Hourly Rate + Usage Rights + Exclusivity
Before calculating your rate, it’s crucial you have an idea of what it will take to execute the creative for your partnership while negotiating with partners.For example, whether you’re shooting across town or traveling to a far-off location, you’ll want to make sure you’ve calculated your travel cost prior to discussing your partnership terms.
When asked how she calculates her campaign costs, content creator Ana Hernández (@azul_mistico) of the travel blog Azul Místico answered influencers should always consider the effort, time, and money required to complete the campaign deliverables.
“Some campaigns require a higher amount of work behind the camera - perhaps it's more complicated photography and video work, or having to go to a specific location, find props or attire or even hire a team... so the amount of effort, time and money we put into campaigns should always be considered.” -Ana Hernández
Without first communicating what value you have to offer in your partnership, you can’t appropriately gauge your efforts or set your budget.
If you know you’ll need the “extras” before finalizing your partnership agreement, get price quotes ahead of time so they can be factored into your rates.
Setting clear guidelines and objectives from the get-go help you better prioritize your rate and avoid unexpected out-of-pocket expenses. Once you’ve done your research and developed your campaign plans, it will also become much easier to communicate your fees aligned with the value of your offer.
As we’ve shared, the holidays are the most competitive season on social for brands and influencers alike. That’s why this season, it’s especially important influencers aren’t selling themselves short.@elliotisacoolguyMegan advises pitching the highest rate you’ve been paid for a post, and noted, “Someone believed your work was worth that, why not stick to it when possible?”If your potential partner is requesting a quick turnaround, you may even want to set your price a bit higher. “After a few years of holiday campaigns, my biggest takeaway is don't feel bad raising your rate 20-30% if they are putting you to a quick deadline,” Megan added.
Ana also suggests setting rates higher during the holidays and noted, “it's a good idea to bring the rates up slightly and pick only a few, well paid (and well-matched!) campaigns, rather than lots of average ones.”Finally, if this is your first holiday season pitching sponsored posts, don’t be afraid to ask around! More often than not, your community will be happy to share their experiences and offer friendly advice.
Similar to any well-oiled sales funnel, it’s important to outline the benefits of the “sell” before sharing the costs. Once you’ve shared what you have to offer and sparked a brand’s interest, it’s time to put a price on your pitch.
“If I am pitching to the brand, I tell them why I admire them, what specific product has drawn me to them, and my creative idea to present their product to my audience and the size of my audience. Once they have emailed back with interest, I ask about their budget.” -Megan Rae Eastburn
Ana advises influencers determine the campaign needs first, by answering these questions:✔️ Which platform is best for this campaign?
✔️ Will they need exclusivity?
✔️ How long will the campaign be, and will it be a long-term partnership?
✔️ Is the brand really a match?
✔️ Can I organically fit it into content that's already on my calendar?
Once Ana evaluates these questions, she follows up with her rates for each type of post separately, as well as a few up-sell package rates that may be of interest to the brand.
Megan also says influencers should take advantage of the negotiation stage, presenting brands with pricing options instead of a set rate.
“If the brand has not presented a budget to me and only mentioned deliverables, I will present my rate in a range through email since we are still in the negotiation stages I never mention my rates in my own pitch on the first email.” - Megan
Finally, before you sign the dotted line, don’t forget to read the fine print!
Megan warns influencers to always look at the exclusivity and usage rights included in the agreement: “I failed to do this in the past and have seen my photos from two years ago being used in ads that I could've been compensated for but signed the rights away.”
Before agreeing on your rate, it’s important to know exactly what is included in your campaign costs.
If your brand contact doesn’t accept your first offer or they’ve presented a budget below your rate, you’ll need to be ready to negotiate.
While rates and deliverables will vary between campaigns, it’s important to follow up with options to make the partnership work for both you and the brand.
Ana suggests giving potential partners options to choose from, and advised, “If their budget isn't enough, it's important to be open to discussing options and finding a solution - perhaps by reducing the number of posts, changing the brief or signing a longer-term partnership.”Often times brand’s will come back with a counteroffer, in which case Megan suggests digging back into the details:
“If they don't come back with a rate I agree with, I go over the deliverables again and follow up with my rate range, and sometimes include examples of my work that I've done for similar products/brands. If they have mentioned details like exclusivity & usage rights, I will give a more definite rate instead of a range.” -Megan
Influencers can use the opportunity to reiterate the value they have to offer in the partnership, building on the initial pitch:
“If they ask for insights, I pop over to my Fohr.co account and quickly download an always up to date media kit that goes over just Instagram or goes over all social channels.”
While it’s important to know your worth (and stick to it!), there may also be instances when adjusting your offer to accommodate a brand’s budget might play out in your favor.
For example, “...With bigger brand names come higher fees as well, whereas I don't mind reducing it if a small, growing brand that I believe in and really want to work with approaches me!”, Ana shared.
There are other factors she considers when negotiating new partnerships, such as highly-valued products or if the campaign will fit into existing content plans – instances in which she may consider slightly reducing her fee.
More often than not, brands will appreciate your willingness to negotiate in order to make the collaboration happen and will remember you for future partnerships.
While many businesses are shifting to digital storefronts and amping up their sales strategy this season, now is the perfect time to make new connections that could turn into ongoing relationships in the new year.
Influencers will become true brand partners in 2022, with brands investing in ongoing relationships over an extended period of time.
“After the 2019 holiday season, I pitched a 1-year contract to one of my favorite brands and landed it,” Megan noted, after working with them consistently throughout the year.
In the pitch, she included a summary of her previous work with the brand (using Fohr.co) and shared how much she enjoyed working with them over 2019 – with hopes to continue working together through a year-long contract.While Megan noted you don’t necessarily need to pitch a year-long contract, it’s a good idea to send your favorite partners summaries of the work you’ve done for them and continuously check-in if you’re interested in keeping the relationship going.
The holiday season also offers a great opportunity to reconnect with brands you’ve enjoyed working with in the past. As you send out your annual Christmas cards this year, don’t forget to add your brand contacts to your list:Blogger and influencer marketing educator, Mattie James suggests including something special for brands you’ve especially enjoyed working with: Ana advises influencers to consider the brands they’ve worked with consistently over the year(s) and had memorable experiences with. She noted, ”Those will be the most natural for you to continue presenting to your audience, and you already know you love the brand if you've been working with them often.”
When it comes to timing, it’s important for influencers to get a jump start on their 2022 partnerships at the beginning of the new year.
“The holiday season is crazy for all of us, so I sent my requests after the new year celebrations and near the middle of the week during the morning hours, so I had a higher chance of seeing my email,” Megan shared.
Ana also suggests sending over your availability to set up a call where you and the partner can discuss their campaign needs together: “If a brand knows you care about what they get in return (and not only what you get paid), they'll likely come back!”
“Listen to what they have to say! Don't just sign, shoot the product, and move on.” Ana concludes. By creating original content that will provide value to both the brand and your audience, you're much more likely to create an ongoing partnership.
Finally, Megan also advised influencers to check in with brand contacts regularly, even if they aren’t currently running a campaign. By continuing to organically promote their products or offerings on your channels, you’ll signal to the brand (and your audience!) that you genuinely stand behind the brand and are an obvious fit for future partnerships.
This season, make sure to go the extra mile to create memorable relationships with brands that will continue on into the new year & beyond!
Now that you’ve sent out your holiday pitches and caught your potential partner’s attention, it’s time to dive into the details.
Now that you’ve sent out your holiday pitches and caught your potential partner’s attention, it’s time to dive into the details.
Brands
This recent report commissioned by Mighty Networks, a digital community platform, makes about a thousand KILLER points about the creator economy and how you can act today to shape a better future for us all.
Planning
Trying to find one that fits your needs as a creator can be difficult, especially as many often lack the features that may be most beneficial to you. Read on for how to schedule your content and how to find the right platform for you.
Planning
While having a media kit is not necessarily required for securing partnerships, it does provide a handy way to share relevant statistics with your potential partners!
Pitching
Writing a great pitch takes practice. Here's everything we know so you can send a 🔥 pitch.
