In the world of influence, we’re no strangers to the ups and downs of dealing with brand partnerships, especially when it comes to getting paid. It’s easy to get caught up in the thrill of a new collaboration, but it’s equally important to ensure that we’re paid promptly for our work. If you’re an influencer or content creator, this guide is for you. Read on to uncover the 7 key steps that can pave the way for hassle-free payments.
7 Steps for Influencers to Get Paid on Time
- Verify the Company Details
Before diving into a project, always confirm the business entity you’re partnering with. This isn’t just good business etiquette, but also crucial for invoicing later on. Simple questions, such as “Who should the invoice be addressed to?” or “What’s the official name of the company?”, can save you heaps of trouble down the road.
- Pinpoint the Payment Contacts
It’s not just about whom you collaborate with but knowing where your invoice should go. Always ask for both the email address and the phone number of the accounts payable contact. This dual communication pathway becomes pivotal, especially if things go awry.
- Nail Down the Payment Terms
When handling a variety of campaigns, both big and small, it’s vital to be on the same page regarding payment terms. For lengthier projects, consider setting up progress payments, which might involve taking a portion upfront and the rest upon completion. For shorter engagements, ensure you’re clear about the expected payment period, whether it’s within 7 days, 14 days, or even 30 days after content delivery.
- Check for Vendor Onboarding Forms
Larger brands or agencies might have specific forms you need to fill out as part of their payment process. Ensure you’re aware of any required paperwork, so you don’t get caught in a payment delay due to unsubmitted forms.
- Crafting the Perfect Invoice
It’s more than just about sending a bill. Ensure your invoice adheres to national standards, providing comprehensive details including your contact info, a descriptive breakdown of the services rendered, the agreed payment terms, and, of course, your banking/ payment details.
- Sending the Invoice
Once your invoice is ready, send it with a friendly and professional cover email thanking the brand for the collaboration opportunity. A touch of courtesy can often make the payment process smoother.
- Managing Overdue Payments
Despite our best efforts, sometimes payments can lag. If your invoice isn’t paid within the agreed timeframe, don’t hesitate to send a friendly reminder. And if there’s still no progress? It might be time to pick up the phone. Remember, you’ve got the contact details handy from Step 2!
Navigating the world of influencer payments might seem daunting at first, but with a structured approach, it becomes second nature. If you’re keen to build your skills around this aspect of running your business, listen to Episode 5 of The Business Of Influence Podcast – Getting Paid On Time For Your Influencer Campaign.. You can listen via Spotify, Apple Podcasts, all major streaming platforms, or directly at thebusinessofinfluence.com/podcast.