You're facing influencers who demand higher rates. How do you determine if the cost is justified?
Determining whether an influencer's higher rate is justified involves analyzing their true impact on your business. Consider these strategies:
What methods do you use to evaluate influencer value?
You're facing influencers who demand higher rates. How do you determine if the cost is justified?
Determining whether an influencer's higher rate is justified involves analyzing their true impact on your business. Consider these strategies:
What methods do you use to evaluate influencer value?
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To determine if the cost is justified, it is important to look into their engagement metrics. Secondly, the quality of the content in the past campaigns. It is very important to have an understanding of the brand and tailor the content accordingly. Making sure if their audience are organic and their reach is organic as well. As for a brand, it is of great importance to collaborate with the right kind of influencers to meet the campaign goals and ROI.
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I only believe the way to determine a creators rate is by what brands are willing to pay. The market determines the value and the rate should be based on supply and demand. If a creator has one ad slot a week and they have 5 brands wanting it, they can raise their rates. If they have 1 and it’s only being filled half the time, there needs to be a reality check!
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Evaluate their audience size, engagement rate, content quality, niche relevance, and past campaign performance. Compare their pricing with industry standards and expected ROI. If their influence aligns with your target audience and delivers strong conversions, the cost may be worth it.
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Totally depends on your objective, is it for awareness, driving traffic or sales? I expect the influencer to have a healthy engagement rate, followers, etc. So, better to pitch your price and then give them some % share from the sales driven via their activities in case they demand higher or either a giveaway. Fixed Cost + RevShare works the best - which will result in a long term partnership
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It just goes back to what the brand’s objectives are and what KPIs you assign. Is it reach? Engagement? Affinity?, Credibility? All? Rarely all though. These are just a few things that influencers can deliver. Different influencers bring different types of results, and it’s up to the brand team to identify what they need and what for them will result in ROI.
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