Tips to negotiate with Influencers and get better conditions.
Some proven hacks to get TOP Influencers to agree to collaborate with you at a much lower price.
Returning to the Vendfy™ - e-Commerce Lab blogs, today we are going to try to help you negotiate better conditions with Influencers, agencies or managers.
Before we start, we must be very clear that the most important thing is to be able to create long-term relationships with the Influencers that bring the most value (and return) to your business, always with honesty and good practices.
Some tips we will discuss below may seem a bit "aggressive" for certain situations, but that does not mean they are not effective.
We are going to simulate a whole journey from the first email to the end of the collaboration so that you can copy-paste. Obviously it won't be like this in all cases, but it can give you some guidance.
We recommend using a CRM like Hubspot that allows you to see who reads your emails.
1. First contact: getting a response
It is often very difficult for some profiles to "give you the time of day" when you want to collaborate with them, for whatever reason. That is why it is essential that the first contact is attractive and has enough hook.
The objective in this case is basically to get them to respond to your email. And you may wonder how to do it? The best thing to do is to give little information, not to talk about budgets or specific actions. Don't you invite to dinner the first day you meet a person you like? Well, it's the same here. The first thing to do is to generate interest in the subject by giving little information (e.g. "A different campaign").
The most effective thing to do is to personalize the message a bit in the first paragraph, talking about why you think a collaboration would be beneficial for both parties. Make reference to the Influencer's audience, that they will love the products, etc. Be careful not to be too much of a ball. Do it elegantly.
In the second paragraph make reference to the type of campaign you have in mind, be it Black Friday, Mother's Day or a specific flash sale you have invented. In addition, and this works extremely well, consider giving your campaign a social component (for example, donate a % of sales to X NGO, association, etc.) and communicate it to the Influencer. This way you can sell the Influencer that the campaign is not just about making money, but there’s more than that. Besides making the Influencer look good, it will give you a very good image in the eyes of your buyers, and of course you will be making the world a better place. Of course, if you do it, stick to it.
In the third paragraph, close with a sentence that encourages a response, such as "we look forward to hearing from you, surely together we can make a difference".
2. Second contact: generate even more interest
Once they have answered us (which they almost certainly will, agencies included), they have liked the solidarity proposal and your business, it is time to put the meat on the grill (although not all of it, it depends on the response).
If they are very enthusiastic about the campaign, and it seems that they are already setting it up in their mind, explain to them everything you want to do, how and when.
If they only ask for more information in a more stale way, give them 5 cents on what you have in mind, but don't give all the information. In this case it is better to ask for feedback and let them say what can be done.
In neither case do not refer to the limited and scarce budget that you probably have. Delay it as much as possible.
It is possible that they will ask you directly for the budget before proceeding. In this case there is no choice but to change the strategy.
3. Third contact: terms and conditions
Now it's time to lay all the cards on the table. The campaign is probably already pretty much squared away and only a few details (choice of product, dates, etc.) need to be finalized.
One of the best strategies is to take advantage of the fact that the campaign is a solidarity campaign to lower the prices, making reference to the fact that the objective is also to be able to contribute your grain of sand and that they don't keep half of it. This only in one line, do not justify anything, just let it drop.
From here on you only need to describe exactly the actions you want to carry out, the timings and the products you can send to the Influencer.
If your campaign is not a solidarity one, don't worry, at the end of this text-only blog "tag" you will find some tips.
4. Fourth contact: closing the campaign
We have reached the end of the journey. Maybe we have succeeded and we have a good deal on the table or maybe all this fuss has been for nothing. But what is clear is that if the first thing you do is ask for prices, you will end up paying for bread at the price of caviar.
All closed and packaged, it's time to send the product and let the Influencer or the agency work its magic.
5. Other effective hacks
To finish, I will explain some strategies that usually work if you decide not to do a solidarity campaign (which is actually the most common).
The first one is, when they pass you the fees, tell them that of course, as it is the first time you work with them, you want to do a test of two or three stories to see if their audience likes the product and the value proposition. They usually bite.
Another option is, once we are in the third contact, ask for metrics reports of previous campaigns. But not screenshots of likes, engagement and reach. We ask for conversion metrics to be able to make the relevant numbers. This is a way that, as they don't have them and they are not going to give them to you, they give you arguments to be able to lower the prices.
Finally, we can also try to look in the Influencer's profile for collaborations with competitors and, if you are lucky and they have recently done something, send them the message that it is not going to be as effective because the message will be less credible.
That's all for today. As I said before, it is important to be honest and act in good faith. I hope it has helped you, it has worked for us many more times than it seems.