How Much To Charge For Usage Rights
Ane of the biggest questions virtually influencers inquire when they outset start wanting to work with brands is how much am I supposed to charge brands for sponsored posts and how the heck do I toll myself? Pricing yourself equally one of the hardest parts, but in one case you get your price figured out, that's the first step towards getting paid your worth when working with brands.
This manufacture is still fairly new and there's not a lot of transparent communication out there. If y'all do some research, nearly people will tell you, there is no formula for pricing yourself and at that place is no set standard on how to toll yourself. That is not the near helpful thing to hear when yous're first starting out. Particularly since most of u.s. WOULD like a formula.
I've been an blogger since 2012, a YouTube since 2013, and an Instagrammer since 2014. Over the years I've done a ton of inquiry on how to price yourself as influencer.
Let's figure out how much to charge for sponsored posts:
one. Following
At 1 indicate, people recommended that you should charge a penny per follower for sponsored posts. Please DO Non charge brands but a penny per follower. That would be selling yourself brusk. There are so many of import factors besides followers that become into creating content. This is merely one of the factors to consider. Typically you can charge i-v cents for your following. I'd recommend using this equation to figure out your minimum base rate on pretty much all my platforms.
If y'all have a low engagement rate (ER), like let's say, you're non getting a lot of comments, likes re shares on the content you create, you could charge a penny per follower. Example: chiliad x 0.01=$10
If you take a medium ER, you could accuse 3 cents per follower. Example: 1000 x 0.03=$30
If y'all take a high ER, y'all can accuse up to five cents for your following. Example: g x 0.05=$50
You may also like: How to Grow Your Instagram Following
ii. Variable Costs
This is annihilation you have to buy to create the content. If y'all have hire a photographer and the photographer charges you $500 to shoot, you should be charging brands an additional $500.
Some other examples of variable costs are props you're buying for a shoot or backdrops y'all are buying. Basically anything that y'all need to buy to create the content. If you spend $20 on flowers for a brand shoot, you should gene that into the rate you are telling brands.
iii. Equipment Costs
Similar to stock-still costs, if y'all have purchased any tech equipment to help create content such as a phone, photographic camera, computer, lights, editing software, etc., yous can charge an equipment or engineering science fee.
Typically you can charge iv% to 5% of the total amount you've spent on equipment. You can definitely adapt this number to a percentage you experience comfortable with. This per centum is what most online equipment rental sites charge.
Make sure you lot are adding equipment costs that to your base rate.
4. Usage Rights
If a make wants to use your image (usually outside of organic reposting to social media) you can accuse for this. For example, if the make wants to use your epitome in a magazine, on their website, or in email blasts, you should cistron this into your rate.
The Association of Photographers Usage Rights Calculator or Getty Images Price Computer are great resources for figuring out how much to charge for usage.
You tin can offer brands dissimilar packages for 3 months usage, half dozen months usage, or 12 months usage. Brands can renew the packet at the end of the term.
BEWARE: Some brands volition ask for perpetual usage – which means they ain your paradigm forever. If yous see this language in a contract, yous tin ask that it be removed.
5. Exclusivity
This means you are working exclusively with the make and you cannot work with a competitor for a certain period of fourth dimension.
Let's say you work with a car brand in Jan. If they ask you for 1 month exclusivity, this ways you cannot piece of work with another auto make for adjacent month. Meaning, you volition accept to decline offers you receive from other car brands during the exclusivity period – also meaning y'all will exist missing out on money. Make sure yous are charging for the money you are missing out on.
You can charge your base rate times the number of deals you'll be missing out on during the timeframe. Some people recommend charging your base of operations rate times the number of months of exclusivity.
6. Rush Fees
Sometimes brands will come into your inbox and say, Hey, this campaign has a quick turnaround fourth dimension and we need this content in less than two weeks.
You can charge your base rate or even double your base rate (or more) when it'due south a rush. It really comes downwards to what y'all think your fourth dimension is worth.
7. Whitelisting
This is when a brand puts ad dollars behind your content.
Before you requite a number, enquire the brand how long they volition be running the ad, how much money they're putting behind this ad and who was the ad targeting. Yous can definitely accommodate the charge per unit that you are telling them for that, depending on what their answers are.
Let's run across the make is putting $10,000 behind the ad. People recommend charging four% to 5% of what they are spending on the ad, and that will exist your whitelisting fee.
Instance: If the brand is putting $ten,000 behind the advertizement, 4% of that would exist $400.
7. Video
If a brand is asking you to create a video of some sort (YouTube, IG Reel, Tik Tok, etc.) be sure to charge a higher rate for this because video content is more than time consuming to create and more popular right at present.
Yous can typically accuse double or even triple your base rate for this.
Do you have any tips for how to price yourself for sponsored posts?
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Source: https://www.thriftsandtangles.com/how-much-to-charge-for-sponsored-posts/
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