It’s 2020, and most of us know that digital marketing is taking over traditional marketing, which brings much growth to many businesses, small or big. I admit it’s not an easy task, and technology is always changing, making it hard to keep up. This does not mean that businesses should not take advantage of the opportunities that digital marketing brings to them. Digital Marketing is advertising delivered through digital channels such as search engines, websites, social media, email, and mobile apps. With the rise and popularity of Influencer marketing, businesses partner with influencers to produce content that connects with their target audience. This has been a beneficial relationship to both, but one does not go without problems.
Influencers make content using digital platforms, and brands use them to advertise their products or services. Celebrity influencers like Beyoncé and Michael Jackson have worked with Pepsi in the past. In recent years, we have seen a shift in companies using internet-famous influencers like Patricia Bright, who recently revealed that she made over $1million on YouTube. This is great, but most creators like Patricia Bright know how to produce great content but fail to negotiate salary.
Why Brands use Influencers?
There are many reasons brands work with influencers; 4 in 5 marketers believe that influencer marketing is effective. Many marketers prefer internet influencers over Hollywood stars to collaborate. A few reasons why a brand would use an internet influencer over a Hollywood star.
1. One apparent reason is that it is cheaper to use an influencer over a Hollywood star.
2. They are niche influencers
3. They are relatable to the younger generation
4. Their audience feels connected to them; they are everyday people
5. They build trust with their audience
6. Products reach their target audience “Fitness model works with fitness
7. Influencer’s give brands access to their target audience
8. If you work together long enough, they become your brand’s advocate
How to Fix the Issue
How to Fix the Issue
I could make a quick google search, and I will find digital marketer’s salaries in different cities. GO AHEAD! Search for influencer salaries. Chances are you won’t find accurate salaries; it’s only been a few years since influencers could quit their job to pursue YouTube full time. Most people don’t consider Influencer Marketing a real job.
1. Influencers themselves should be open about their salaries; people can post salaries anonymously. If people accurately report how much they make per follower count, it would be easy to determine how much you should earn per post. If several people make $250 per 10,000 followers, it would be easy for you to negotiate pay.
2. Hire someone experienced to negotiate salary on your behalf; some influencers have managers.
3. Use Influencer Earnings Calculators, like the one found on Influencer Marketing Hub, to estimate your earning.
Research how much influencers, in your niche charge, per follower count. Negotiate pay, you work hard, and you deserve fair compensation. Ask other influencers; it wouldn’t hurt to email or DM a few influences to ask about their salary. There is always someone willing to share information; that’s what influencing is about. Use online sites to estimate your payment. Find out how much the brand you are working with will make/ benefit from the partnership, which can help you in the negotiation process.