Budgeting for Blogger Collaborations
If you tuned into our blog last week, you read our stance on how important it is to be fairly compensating bloggers for their time, work, and community. A common question that we receive after making that statement, or sharing that disclaimer on a client call is, “how much should I put aside to pay bloggers?” This is such a valid question, and great first step to approaching blogger collaborations.
The first thing that you want to think about when putting aside a budget, is the size of the influencers audience that you’d like to work with. While it’d be ideal to work with a blogger who has cultivated a community of 350K authentic followers, their pricing may be a bit out of your range. However, joining together a community of micro influencers with extremely engaged audiences is a great option for blogger collaborations as well, and will take your budget much further than working with one large influencer.
While I can’t tell you exactly how much money to put into your blogger collaborations, I can tell you that approaching collaborations with clear intentions and goals that are fair to both parties is the best way to receive a positive outcome, and results. Approaching a blogger and saying, “I would love to gift you with this piece, along with a sponsorship amount of $X in exchange for an Instagram Post and Instagram story,” shows the blogger that you value their time and the community that they’ve created and understand that they deserve payment. While you may not be able to afford a $500 collaboration, offering something more modest such as $200 + product is fair in most influencer cases (again depending on the size of their community.) Even if that does not meet their typical pricing standards, they are more likely to negotiate or take the collaboration because you set your intentions up front while showing that you value their time and content.
So, to recap:
First decide what size blogger you’d like to work with. If you’re going the ‘micro influencer’ route or influencers around or below 10K followers, put together a strong group that will represent your brand well.
Develop an influencer pitch with clear intentions, that is fair to both parties, and you can always negotiate from there.
If you’re still feeling lost, or would like assistance developing our influencer outreach plan, especially before the holidays, feel free to reach out.
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