Predict the influencer marketing costs
Senior Marketing Manager
Previously, we talked about 4 different aspects that build influencer marketing costs to help you decide how much to pay influencers to advertise. Today we are wrapping this series up with another 2 determiners that any marketer should always keep in mind when collaborating with influencers.
So, let’s dive in and find out what they are!
That’s a sensitive yet extremely important point to go over with a potential influencer. Imagine, you closed the deal with a content creator, sent your new headphones for promotion, and an influencer creates a beautiful, detailed video showing how cool your product is, people get excited and interested. Both sides are happy! A week later, the same influencer does the same video about your competitor. Not cool, right? In this case, you have only yourself to blame!
If you don’t want influencers you work with to collaborate with your competitors for some time (or forever!), mention it in an agreement. But keep in mind, it will double the price of the collaboration.
Another very important determiner when building your influencer budget strategy is whether or not you are going to reuse the content created by influencers you work with. Yes, you don’t own the rights to the content material they create even if they mention your product in it. It means that influencers can do whatever they want with materials without asking for a brand’s permission.
If you want to have full control of the influencer content pieces or have further plans for them you have to mention it in an agreement and discuss everything with content creators beforehand. And as you already probably guessed, this will cost extra for you because you basically purchase the copyright.
Let’s wrap it up
With so many factors and hidden nuances, it’s hard to properly track influencer marketing costs as you can do with Facebook or Google Paid Ads, for example. Fortunately, with our guide, you can see the ways in which these factors affect pricing. Or you can always reach out to our team of experts at relay.club and we will take your influencer marketing to the next level!
Senior Marketing Manager
Amina is a Marketing Manager with a wide range of marketing skills. Previously she worked for international tech start-ups as a content specialist, social media and influencer manager. Her biggest passions - communications and visual art - help build strong relationships with creators and deliver selling content for brands.
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