Navigating Influencer Marketing: Pricing Agreements and Collaboration Insights (Full Transcript)

Speaker 1: Influencer marketing and its results are lucrative. It's tough to manage being an influencer or a brand while running a balanced campaign which works for both parties. Hi guys, this is Pooja Shah, I am your host for today. Welcome to fifth episode of the series Influencer Marketing Journey 101. In today's episode, we are going to talk about the collaboration between brands and influencers and how pricing agreements work. Today's industry is changing day by day. Features, pricing and social media is evaluating every day. Pricing agreements are never the same. Time is changing eventually and so are social media platforms, their features and people. So we cannot define any specific pricing for any specific deal or collaboration but how the current space, current influencer marketing agreements on pricing working and what the future holds. Let's check out. Brand marketing budget is something that defines the pricing of any collaboration or influencer marketing budget. Let's say if any company is open to spend 25,000 monthly on marketing then it's up to that particular brand that how much they are willing to spend on influencer marketing. Based on influencer marketing hub, they say 63% of companies are willing to spend their budget mainly on influencer marketing from overall. If you are talking about big names, they have a separate budget for influencer marketing, Google ads or any other paid ads. The next factor is considered as on a social media platform. Social media platforms are eventually changing day by day. So you need to suggest your client based on their brand engagement and what type of content and audience they are looking forward. It depends very much on audience and content type. Let's say if you are talking about Instagram, IG reels are trending like never before and it have a tremendous amount of impressions and interaction from reels to people because they are entertaining and having a great engagement level. Let's say if you are talking about YouTube, YouTube shorts are coming up and people are eventually exploring that. So it's up to brand and their audience that how the audience is consuming the content. Based on that, suggest and deal with the type of content that goes with the brand and their audience. And finally, it's your profile post engagement, followers and cost that includes while creating a content. Explain brand that what efforts it takes to just create, not just create a content but to roll out to the right audience with right engagement and followers growth. Explain your sales strategy and previous successful collaboration with return on investment stats. It will help them to understand more about content driving strategies and sales growth. So make sure that you are explaining them enough to quote on any collaboration on the pricing agreement. That brings us on the end of the series. I hope the content was useful, enjoyable. Please comment down below what next you want to learn and explore. Till then follow spread, hit subscribe and like. We are going handle by these spread stories and we are trying to create a content which is helpful, more data driven, more on the technical part where people are not aware about much, more into influence of marketing and further upcoming tools and techniques. So keep learning, keep sharing and keep exploring. Take care.