Influencer marketing is fast becoming a competitive industry on its own, and to stand out, influencers have to be proactive and pitch themselves to brands. It is important that you are able to use and understand marketing lingo so that you will be able to carry yourself more professionally during pitches.
These are 7 terms that you should be familiar with when discussing potential influencer collaborations with brands.
1. Press Kit
A press kit is a datasheet or set of promotional materials which contains an overview of your details and statistics.
Some of the details contained in a press kit are your communication channels, the total amount of followers, the demographics of followers (such as age, location, gender, etc.), rate of engagement, and contact information. The press kit gives brands a concise and clear idea of your background.
2. Scope of Work
Scope of work is a description of a working outline and is typically broken down into specific tasks and deadlines. It also contains other information like the deliverables required, objectives, project schedules and costs. Having a clear, concise scope of work helps you to streamline your work process better, giving you a more accurate idea when pricing quotes. According to paper writers at Assignment Help UK, knowing the scope of work before pricing quotes helps you avoid underpricing or overpricing yourself.
The only reason you are holding a discussion with those brands is because of the payment you are expecting to get. While quoting your price, it is important that you remain formal. In many cases, they will wait for you to talk about your price before discussing it. Authors at Nerdy Writers say that a professional way of introducing money into discussions is to use the term budget. “What’s your budget like for this campaign?” is a question that can help you kickstart monetary negotiations.
4. Rate Sheet
Once the discussion on budget starts, you might want to reach out for your rate sheet, which is your price list. Ideally, you would have had some agreement while talking about the scope of work. So, combining that with your rate sheet and press kit will help you negotiate better. One way to organise your price sheet is to break it down into price per social media post.
It also depends on your influencer medium. If you are an Instagram influencer, for instance, your rate sheet can be broken down like this:
Instagram post: $xx
Instagram story: $xx
Instagram post + Instagram story: $xx
Many influencers register their profiles at StarNgage to get our influencer rate card. This takes away the stress of creating your own rate sheet for different social networks, and also prevents brands from undercharging or overcharging you.
5. Payment Terms
Negotiating the price of your service is only half the job; the other half is negotiating the terms of payment. This is often overlooked but is actually equally important. You should communicate with the brand when and how you expect to be paid. Do take note that influencers do not get upfront payment, according to Sarah Sanders, an author at My Assignment Help. They only receive payment after the brand marketer confirms that the campaign is completed according to the agreement. Hence negotiating your payment terms helps to ensure a smoother workflow between you and the brand.
6. Contract or Agreement
Whenever you agree with any brand or person to render a service for money, there should be a written agreement or contract between both parties. The contract contains the details of the agreement between both parties, condition for work, budget, payment, the scope of work, deadlines, and all legal aspects of your discussion. A contract binds and officialises any agreement, which protects you and ensures that you get paid accordingly for your work.
A contract only becomes binding when it is countersigned. In other words, both parties sign the agreement. Typically, brands will send you a copy of the contract to sign. It is important that you read through all the details of the contract carefully before signing it. After you have signed the contract, ask for a copy of the countersigned contract.
As an influencer, being familiar with industry terms can make your pitching process smoother and more efficient. Furthermore, as many influencers are freelancers, it is important to be aware of such terms, so that you can protect yourself and get rightly compensated for your work.
Kurt Walker has been working as an editor, essay writer, and a copywriter at best paper writing services in London for 3 years. He is also a journalist and professional content writer for PapersOwl Review in topics such as inspiration, productivity, education, and technology.
We want to feature you!
Want to be featured on our Spotlight page and blog? Fill in your details now!