Today, traditional marketing is constantly being replaced with other cost effective ideas and strategies. One very common strategy is using social media for marketing. With the world being a global village, many people of all age groups are interacting and utilizing a social media platform greatly. The fact is that no doubt it is much cheaper in terms of the cost benefit it provides as compared to the traditional marketing mediums.
When we talk about the idea of what social media marketing is, one strategy that is being used extensively by marketers today is influencer marketing. Out of the many benefits that influencer marketing provides, one thing that is very strongly noteworthy is that there is credibility that is attached with people who are having a strong fan base or follower base with them. People who follow the influencer expect that they will be organic in terms of their advertising choice and therefore they tend to follow what the influencer is. Well this is ethical at the same time and also giving brands an edge to connect with the consumers directly with it the links that are of mutual interest to both.
At this point in time, it is important for an influencer to think that how should they go about their pricing strategy so that they are also able to make good money out of the deal that they sign. While there are many models available through which influencers generally plan their costing strategy, you are a few important ones highlighted with greater detailing for better understanding.
The first one is the pay per post model. Here the opportunity is based on the number of posts that will be created by them for the brand. Based on the amount of content, the duration of the post in terms of a video, the medium order social media platform being used, influencers tend to decide on the costing per post.
Another way in walking for the pricing idea is using bundle pricing. If you see that there are number of platforms being utilized a number of post being required by the brand, charging per post per platform can be cumbersome for both you and the brand.
It is better to follow the bundle pricing by you are charging for the entire package altogether. This helps in establishing a good relation with the brand as well. The rising of the Banda depends on the number of followers you have and particularly the kind of engagement your page includes. These days’ marketers are not looking for followers with so much importance, but they are paying very strong attention on the amount of engagement the content that is generated by the influencer is able to garner. Which means if one is able to have good number of common share, likes on their photos and videos, shows that their content is more engaging and people are very much more interested in following it.
So with this, we come at a point that we discuss cost per engagement as well. Now this is a well sought after strategy by marketers. It is surely going to benefit the brands, but then the influencers can face hard time. The task is that you are not going to be paid upfront but rather based on the kind of conversions your post will offered to the brand, a commission is decided. This is what every brand is actually engaging in these days took is ultimately every brand would want to have a return on the investment that they are putting.
There are many influences that are there on the internet with fake followers as well. This is a great way to curb this inorganic approach. So as an influencer it is important for you to understand that you need to have good content that increase the user engagement at all times. A brand will very carefully understand the kind of users that particularly engage on your page. So as an influencer if you want to keep your page a good hit for the brands it’s important that your pain very strong attention on the kind of consumers you are inviting on your page. Over here the consumers are the consumers of information that you disseminate.
Quality content is the key for good engagement and therefore the brand is very particular about how the influencer is using its content. Because when a brand associate with in influenza it has the responsibility of showcasing that they also support the kind of content that you are using on your platforms. Therefore being politically correct and morally right is very important in a way to reach influence in order to invite more and more brands and therefore get good engagement.
Influencers are visible on multiple platforms on social media. The more the number of platforms and influencer is available and that to having good uniformity in the kind of follower base, it indicates that they are well known. Here if you are an influencer you need to pay key attention on the detail in that you are utilizing in your page. Some interesting facts about this particular field of influencer marketing data reveal that it is that today one of the most engaging platforms is Instagram which is further followed by Facebook and then Twitter. Therefore you need to have your games from on these platforms particularly. One thing that is sad about Instagram influencers despite been the most engaging platform is that the post have links which are not clickable and therefore there is a challenge to the pricing model in order to estimate the return on investment.
Hoping that this article has given you a good insight on understanding the different pricing models that brands are utilizing today for selecting the right cost for the influencers. If you utilize this to capitalize your platforms, to get the best of the benefits for yourself.
