The “monetary” aspect is not the only possible way to compensate content creators in an Influencer campaign. In fact, to reduce costs, brands can propose other types of compensation , in addition to a more gross remuneration.
By offering participation in experiments, inviting KOLs on trips to discover new product lines, sending them new products in advance to thank them for coming back, and inviting them to share their opinions with their communities on the day of the official launch, etc. There are many ways to compensate KOLs . This type of collaboration benefit can lead them to review their gross rates and thus allow the brand to create a privileged link with the most relevant influencers for it, while limiting certain costs .
Negotiating KOL rates when you’re new to influencer marketing can b investors mailing address list e tricky , especially if you don’t have referrals. Some content creators with different community sizes may offer brands similar rates, making it difficult to understand KOL rates.
To properly negotiate influencer rates, it is important to consider several key influencer metrics (and not just a KOL’s audience size) such as audience size, engagement rate, and post reach, etc. These are all metrics that a brand can rely on to review the expenses related to a collaboration with a content creator.
The engagement rate alone will let you know if a KOL's audience is really responsive and interacts with the content posted. When the size of the community alone cannot give you such indications, in order to negotiate with KOLs and maximize the ROI of an Influencer campaign , it may be relevant to use a technological solution such as Kolsquare that allows you to have, at a glance, all the performance data, the potential target reached and the communities of a targeted KOL profile.
This can allow you to have real statistics when negotiating the rates of a content creator to avoid investing too much in a profile with few results at the end of the campaign (in addition to allowing you to identify the most suitable profile for your brand).
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