Influencer News Hubb
Advertisement
  • Home
  • News
  • Influncer
  • PR
  • Instagram Marketing
  • Social Media
  • Contact
No Result
View All Result
  • Home
  • News
  • Influncer
  • PR
  • Instagram Marketing
  • Social Media
  • Contact
No Result
View All Result
Influencer News Hubb
No Result
View All Result
Home Influncer

The Definitive Guide to Negotiating Brand Partnerships for Creators: Part IV — Time is Money: Monetizing your Production Process | by Trevor A. Mengel | Cloutdesk Dispatch | Dec, 2022

admin by admin
December 6, 2022
in Influncer


This is part four of a nine part series for creators who want to improve their hand when negotiating brand partnerships. If you tuned in for part one, Exclusivity & Monetizing Opportunity Cost, part two, Demystifying Content Boosting, Licensing (Whitelisting), & more, and part three, Content Licensing & Usage, free to skip the intro and dive right in.

Photo by Jon Tyson on Unsplash

The saying knowledge is power holds true for every profession and industry. Any power disparity in professional partnerships can and will be exploited to the detriment of the party with lesser knowledge.

Having worked with social content creators for the past 5 years, I have seen this dynamic on full display. Influencers who negotiate for themselves unknowingly make concessions and leave huge amounts of revenue on the table.

On the other hand, creators who put this knowledge into practice thrive. The secret to their success isn’t working harder. It doesn’t require more followers or producing more content.

It’s quite simple: as a creator, if you want to earn more income from brand partnerships, you need to negotiate from a position of strength, with a full understanding of the meaning, implications, and value of specific conditions of your contracts.

You do not need a lawyer or a talent agent to utilize the knowledge any of these terms. However, if you are not aware of them, you are likely earning less than half of what you could be as a creator.

After reviewing thousands of brand partnership contracts for creators and spent time on both sides of the negotiation table, I’d like to share a guide to the secrets that have enabled creators to double their brand partnership earnings almost overnight.

In part IV of this guide, we’ll focus on how to ensure that your work and time are compensated for adequately by charging for re-shoots and rushed production timelines.

Time’s-a-wastin’, so let’s get started!

Disclaimer: the following is not legal advice, nor should it be used to replace the guidance of certified legal, tax, or accounting professionals.

Estimated increase to contract value: +10–40%

What it means:

When you create content that isn’t what your client had hoped for, they will request a revision or re-shoot.

Most contracts have ambiguous terms around necessary content revisions. This can lead to endless rounds of revisions, which are not only annoying but also a drain on your already-limited time.

Why it’s important:

YIt’s important that your content meets and exceeds your client’s’ expectations, but to protect your business and your time, the amount of revision requests your client can make must be clearly defined.

How to negotiate it:

If there is any ambiguity in your contract around how many revisions your client is entitled to, you must request clarification. It is standard practice to include a single round of revision for each piece of content you create, but anything beyond that should be subject to an additional fee.

For each additional revision outside of what is included, I recommend charging anywhere from 10% — 40% of your rate for a single deliverable. The more time-consuming the revision is, the higher your fee should be. For example, if you need to re-shoot a 60- second video, your fee should be much higher than if the client requests a slight edit to the content you have already shot.

Regardless of any additional fees you may collect, it’s still more advantageous to use your time to produce content to client expectations the first time. Revision/re-shoot fees are there to help ensure your client isn’t taking advantage of your time and effort. The best clients will understand this and have no problem agreeing to additional fees for re-shoots.

Estimated increase to contract value: +20–50%

What it means:

Every creator has encountered a client who needs an ASAP turnaround on a deal. As with Content Revision fees, Rushed Production Fees are another way to help ensure your time is respected and protected, but these terms are rarely included in most creator contracts.

Why it’s important:

Accelerating a client deliverable into your content calendar, especially during busy seasons can adversely affect other client priorities and may cause undue stress. Agreeing to rush a piece of content through production to meet an immediate client deadline is another opportunity to make sure you are adequately compensated.

How to negotiate it:

Set a standard production timeline to set expectations with your clients (example: I require a minimum of 5 business days to produce each piece of content). If a client requests an acceleration of that timeline, communicate that any content requiring faster turnaround will be subject to an additional fee.

Depending on the complexity of production, the timeframe you are working with, and conflicting client priorities, you can expect to charge a 20–50% premium on each deliverable. Make sure your standard production timeline and the fee charged for any shorter-term exception to that are specified in your contract.

Remember, your client is under no obligation to respect or abide by anything not explicitly stated in your contract. “Verbal agreement” will not suffice.



Source link

Previous Post

Influencer ordered to pay fine, Meta’s Q3 Widely Viewed Content and more

Next Post

15 Successful Influencer Marketing Examples (2022)

Related Posts

Influncer

Creators Are Raving About the Kick Clip Feature – NeoReach

by admin
September 21, 2023
Influncer

“Cara Memaksimalkan Hashtag di Instagram: Strategi Rahasia untuk Meningkatkan Visibilitas Anda” – gorbysaputra

by admin
September 21, 2023
Influncer

MrBeast is “Dying Mentally” as He Pumps Out New Content – NeoReach

by admin
September 20, 2023
Influncer

AI Influencers are taking over Kardashians? | by meltembirogul | Sep, 2023

by admin
September 20, 2023
Influncer

Kick Owner Stake was Hacked. How Will the Hack Impact Kick Streaming? – NeoReach

by admin
September 19, 2023
Next Post

15 Successful Influencer Marketing Examples (2022)

Recommended

This influencer has almost a million dollars in sponsorships and endorsements. | by marie myung-ok lee | Feb, 2023

February 21, 2023

TikTok’s Testing a New Option to Help Facilitate More Brand Deals for Top Creators in the App

January 12, 2023

Elon Musk Tweets Support For Tim Scott Again, Raising Questions About Whether He’s Backing Away From DeSantis

May 23, 2023

Social Media Meets Podcasting: Platforms and Strategies for Success

September 6, 2023

Elon Musk Announces Ad Revenue Sharing For Creators On Twitter

February 3, 2023

New Twitter CEO Says ‘Why’ She Joined Twitter—By Parroting Musk’s Buzzwords

June 12, 2023

© Influencer News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Influncer
  • PR
  • Instagram Marketing
  • Social Media
  • Contact

Newsletter Sign Up

No Result
View All Result
  • Home
  • News
  • Influncer
  • PR
  • Instagram Marketing
  • Social Media
  • Contact

© 2022 Influencer News Hubb All rights reserved.