Part of our #1MinMarketing series on Youtube and Instagram Stories, today we want to teach you how to market yourself as an influencer.
BE PROFESSIONAL AND KNOW YOUR WORTH
Influencer pricing has always been a mystery both to the seller and the buyer. Influencers don't know what it means to have 30K followers, do they charge $20 per thousand of followers reached? What's the standard?
UNDERSTAND YOUR TRAFFIC FUNNEL
So that's why you need to figure out your traffic funnel:
FOLLOWERS --> REACH --> ENGAGEMENT --> CONVERSIONS
Down to the very last section of the funnel how many people are you converting? You may not be able to contribute to each step of the sales funnel, so if you know you have a large follower base, great reach and engagement with your followers but low conversions, you would want to pitch the company that you have strong engagement if their goal is to push a new product and generate positive word of mouth for the brand.
WHERE CAN YOU ADD VALUE
Figure out what and where you can help a potential company.
Next, find out what it is that the company is trying to achieve. When they first contact you, or if you are pitching a new company, ask what they are trying to achieve in their business; then sift through your knowledge of your follower base and engagement statistics and let them know where you can add value.
PRICING YOUR SERVICES
How should you price your influencer services? With the grey area that still exists, companies find it hard to challenge influencer pricing, but at the same time they need to ensure they are making a decent ROI on their investment. So try to look at it from their perspective, if you expect to generate 200 sales each worth an average of $80, then the company may be open to paying you up to $800 for your post - which is 5% of their expected revenue. They still need to consider their Cost of Goods Sold, and depending on the product that number may be as high as 80% or more (not accounting for other fixed costs as well). So a smart and professional influencer will learn not to price themselves out of the market by being unreasonable - you need to leave enough money on the table for the other party to make the deal win-win.
Still have questions about how to be a great influencer companies would love to work with? Send us a message through our Contact page!