Influencer campaign pricing is very individual. What one influencer brings to the table for a brand campaign is going to be vastly different to what the next influencer or content creator brings. The most powerful way you can increase your revenue is to start pricing your campaigns is by using The Business Of Influence Campaign Pricing Framework.
The Business Of Influence Campaign Pricing Framework
The Business Of Influence Campaign Pricing Framework provides three steps for when presented a campaign for pricing:
- Evaluating the Brand
- Evaluating Your Value
- Evaluating the Campaign
Once you’ve completed each step, you’ll be well positioned to prepare a quote or scope of works for a brand campaign.
Evaluating the Brand
Brand Alignment: Influencers should align with brands that share their values, as this leads to higher engagement, better conversion rates, and can justify a higher campaign price.
Reputational Risk: It’s crucial to evaluate if working with a certain brand could pose a risk to the influencer’s reputation.
Brand Value: Influencers can charge more for high-end or well-known brands that have bigger budgets and more experience with influencer marketing.
Evaluating Your Value
Audience Size: The number of followers or subscribers is a primary factor in determining price.
Engagement Rate: Having an engaged audience (likes, comments, shares, click-throughs) is also a vital consideration.
Audience Demographics: If the influencer’s audience aligns with the brand’s target market, it could justify a higher campaign price.
Past Performance: Proving a successful track record with past campaigns can positively impact campaign pricing.
Evaluating the Campaign
Communication: Influencers should consider if they’ve had professional and timely communication with the brand.
Content Quality: The effort and resources required to create the campaign content is a significant factor in pricing.
Campaign Complexity: A campaign requiring deliverables across multiple platforms and various content types provides more room for negotiating the fee.
Reviewing the Brief: Influencers must understand all deliverables, how the content will be distributed, and any inclusions/exclusions to factor into the quote.
Campaign Timing: The timing of the campaign (e.g., seasonal events, significant dates) can allow for ‘surge pricing.’
Upselling: Influencers can offer additional deliverables for extra revenue.
Your Negotiating Skills: If you’re just starting out as an influencer or content creator, you might have limited experience in pricing campaigns. As you build experience and confidence, you’ll be able to secure better rates for your campaigns.