Ok you hear there are many ways to set out how much bloggers should really charge brands. But yet they are all so different. From payment based on DA to payment based on efforts required.
I have tried various ways and after realising the way that was win for me and win for brands I am going to be sticking to it now. Yet you are wondering what that way is I know.
firstly lets look at all the pros and cons of the ways bloggers get told to charge:
- The first is based on your DA. This was great and simple you times your DA by 5 and you get a price simple hey. so for example my DA at moment is 16 so 16×5=£80 a sponsored post on my blog. I hate this because what if a brand is solely Uk based yet your audience is half USA and half UK how is that fair on a brand. Why should a brand be paying for half an audience that they do not even want to target?
- Secondly is based upon efforts. How much would you charge as an hourly rate? say you charge £10 a hour and you take 12 hours to research, emailing to and fro, photos, testing and writing post etc. That would mean a post would now cost a brand £120 a post. Yet again what if the brand is only UK based and you have half and half audience say. How will this mean a brand is getting their money worth?
So how do I do it then?
So here it is I have a social media following of 10k nearly now. My audience is 60% USA and 32% UK rest is other areas of the world. This is how I like to charge not based upon DA not based upon my efforts even though all is taken into account but my audience. I like building a great brand relationship and this is how I do it as a honest open influencer.
Firstly I see where the brand ships to if worldwide boom all good. If it just USA or just UK based I still base upon this formula but just get different charges. Why? because it fair to you as an influencer and fair to the brand. I believe we as influencers need to know our worth, yet brands need to be aware of how much we can offer them in return.
So what is the formula?
Here it is say you work with a brand and they only offer UK shipping. I have 32% of my audience in UK. Therefore 32% of 10k is 3,200 social media followers this means for blog post I charge £30 for every 1000 followers I am aiming at. That means here I charge £96 per blog post. I also charge £10 for every 1000 followers on just social media campaigns. This is on each platform because each one is a different audience base.
To sum it up:
I think every influencer should be basing their price budget to brands based on audiences not on anything else. This in turn will help build better, honest relationships between influencers and brands alike.
Ok many brands are getting a bargain working with influencers as many campaigns will cost them £1000’s. Yet with influencers they can do the same if not better campaigns at a fraction of the cost. Brands should be aware of what us influencers can do for them but at the same time we should be fair to them too.
Social media influencers like myself are still getting out there and building relationships and it can be a long gruelling road to the dream life. Yet if you are prepared to sacrifice a lot of time and efforts you will get there. Get your worth and help brands get their moneys worth too. Start standing out as a person and be you it not all about crowd following.
So next time a brand approaches you or even you pitch them look at who they ship to and look at your audience. Tell them how much you charge and why once you are aware of their requirements. I always now pitch as if I am hiring the brand rather then the other way round. It all about negotiating and knowing your worth and brands being aware of your worth too.
What is the one thing blogging has taught you?
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