How to negotiate a deal with the brands for collaborations?
This blog gives a sneak peek at “How to negotiate a deal with the brands for collaborations?”.
Negotiating with the brands is something most people dread. You might think that maybe you will lose out on such an exciting opportunity from the brand or if you are a newbie you would want to accept the collaboration without even trying to negotiate. But, in order to strike a fair deal, negotiation is important. Everybody’s busy thinking about themselves and maybe you should put your effort before a collaboration too.
These step-by-step guide will teach you how you can negotiate confidently with brands:
- Know your worth: Before even coming to the negotiation stage you must know your worth. But how can you even know what you are worth? For starters, stop attaching your worth to the number of followers you have. Even if you have a small community of 10,000 followers who engage with your content, know you are worth a lot more than you might be thinking. A small and engaging community is far better than a big, dead community. If your audience is influenced by you, engages with you and considers them a part of your family, you know what you are worth.
- Deliverables: When a brand emails/texts you, there is a high chance that they won’t mention anything monetary in that. So you can simply reply back to know if they have a budget for this campaign and proceed ahead only when they have. We are totally against barter collaborations and we recommend the same. When you are clear with their budget, go ahead and know more about the deliverables. It can be anything- just a single Instagram post, a bunch of stories or reels or all of these. According to the deliverables and your worth, quote a rate and send it to the brand. We recommend you attach a few of your previous stats or anything that helps the brand know what they can expect out of you. It places you above the other influencers the brand is eyeing.
- Negotiate: When the brand is aware of your rate, they will try to negotiate it and quote little lower number. (Not all brands do this though, if 3 consecutive brands accepted your price without negotiating it, you know what you have to do right? Increase your prices) Don’t settle with the rates the brand has shared, instead choose a middle path and quote a number in between both of your numbers.
That’s it. That’s how simple it is. You don’t have to fret, just trust the process and have confidence.
See you in another post. Bye!
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