Below is part four in our series of blog posts about Amplifying your Content Marketing with Influencers. Today, we will go over the importance of offering a compelling value exchange in a social content marketing campaign with influencers. Want to skip ahead? Download our free eBook now.
As a rule of thumb, consider influencers to be professional writers who expect to receive something of value in exchange for their work (not unlike you and me!). Some will accept payment in the form of a product, or special access to a service, event, or other opportunity. But while a swag bag and product has some value, it doesn’t pay the bills.
Make it mutually beneficial. I understand you want maximum exposure, and I’m willing to work hard to get that for you. But my time is valuable—not usually worth the price of a product alone. I need monetary compensation to make it worth my time and effort.
-MaryEllen Bream, in response to a TapInfluence survey question: “If you could give brands one piece of advice on working with you as a social influencer, what would it be?”
Have a look at the range of rates for Review posts from the TapInfluence platform. Different types of content often have different associated costs, all of which are helpful to familiarize yourself with before planning an assignment. If your marketing budget is tight and you don’t think you’ll be able to run an influencer marketing program, do a little digging—events, giveaways, and reviews may be less pricey forms of content!
Marketer commonly make the mistake of equating giant audience size to giant cost and the highest returns or conversions. That’s often not the case, believe it or not, and the asking price of influencer content should reflect it. In addition to their baseline unique monthly visits, a social content creator’s rate should depend on their level of sway with readers, the nature of their audience (highly specialized is harder to hone), the quality of and level of skill required for their work and their location, among other factors.
Crafting content that converts viewers into customers for a brand, yet still maintains or exceeds the expected level of value, style, and entertainment to a readership, is not an easy task, particularly within the confines of a branded assignment.
The influencer-brand relationship is a valuable one for both parties. Make sure you make it worthwhile for everyone involved by offering a value exchange that is relevant for the content creator’s lifestyle.