Terms of Influencer Collaboration – Have you ever seen someone promoting an item? Usually, they are referred to as influencers, which can influence other people to buy a product. Perhaps, Whizmate is more familiar with the term endorsement deals.
In general, influencers promote goods through personal social media, such as Instagram, Tik Tok, etc. This can help business people who are running a business, especially if the influencers are famous. Surely they will attract their followers on social media to participate in buying the product that is being offered.
How about how to cooperate with influencers? Check out some of the following ways and information about the terms for collaboration with influencers .
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How to Collaborate with Influencers?
1. Define the Audience for Your Business
The audience is the most important thing. an Influencer must also have a specific audience. Some influencers have an audience with a particular interest.
To start advertising a business through influencers, it would be nice to know which influencers are suitable to work with.
For example, if your business sells cooking utensils, most of the targets are mothers. Well, you can choose the influencers that are suitable, for example those who frequently upload cooking recipes and whose names are familiar to mothers. By matching between influencers and audiences, your promotion will be much better!
2. Show Your Interest in an Influencer
If Whizmate already knows the names of the influencers you will collaborate with, don't contact them directly, OK? Why? It would be better for you to follow all social media first. The goal is to show interest in the influencers you want to collaborate with.
You can also come to their event to get to know them better. So they will feel that you have the intention and want to work with them.
After that, you can only contact them through suitable media. Also, make sure that it follows the terms they want. It can be via email, telephone, or other media.
3. Wait and Give Time to an Influencer
After you contact the influencers, take your time asking for certainty from them, OK? You better not contact them repeatedly. Give me a few days so they weigh the decision and do not feel like they're being chased.
Sure, you want to make a decision as quickly as possible. However, you must calm down first because if the influencers are interested in working together, they will contact you.
4. Don't Limit Their Creativity
This last point is quite essential. All influencers must have a way of influencing others. Therefore, influencers have their audience.
So, you don't limit the creativity of the influencers. Because they must have their charm for their audience, if you restrict or control too much, the audience's interest may even decrease.
So, those are some things to pay attention to when inviting influencersto work with you. However, there are also some terms for collaboration with influencers you should know.
Apart from applying the method above, you also have to make sure in advance about the range of costs to pay them. Usually, information about advertising costs and techniques of the influencers is inside the rate card. However, what is a rate card? Curious? Come on, see!
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An example of Rate Cards of an Influencer
According to Marketing Terms, a rate card is a document containing advertising price details. Meanwhile, according to the Cambridge Dictionary, a rate card is a list containing rates for different types of advertising, such as print media, online, and electronics.
So, where does the reference rate of influencerscome from? They don't set prices at random, you know. However, those prices are set based on detailed data, such as reach, followers, and engagement of their account.
In Indonesia, many businesses use services from influencers offering their products through influencers is considered more effective. For cooperation with them, you should see the rate card first.
Some influencers put their rate cardon social media, but some are not. So you should call the manager or contact person of the influencers . Another way is to find out through the Influencer Marketing Platform, a forum connecting influencers and people in business.
How about the example of a rate card? Whizmin already put the rate card of Rachel Vennya, one of the influencers in Indonesia, below.
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An example of Invoices of an Influencer
Other than the rate card, you also have to understand about invoices, namely supporting documents for the payment, billing, or sales process. Usually, invoices are also known as trade invoices. A simple example is the receipt you get when shopping at the mall.
For corporate activities, invoices are usually printed after a sales transaction. Then, invoices will be sent to the buyer as a basis for payment. The main thing is that invoices are used to prove that the transaction has been completed and carried out.
In general, invoices consist of several things, such as seller data, buyer data, the date, and the invoicesnumber, a description of the item or other sale, other information (discounts, taxes, and so on), and the seller's bank account.
Bloggers commonly use the example below. However, the format can be used generically, even for collaboration with influencers.
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Example of an Influencer's MoU
Not only rate card and invoices, but terms for collaboration with influencers also require an MoU or contract endorsement deals. Does Whizmate know about the MoU? Yep! MoU or Memorandum of Understanding is written evidence of the agreement of both parties to cooperate.
Why do you need an MoU? Well, this is done so that the agreement between influencers and businesses is legal and legally protected because there are costs and a good name that must be maintained. So, legal elements need to be involved, OK, Whizmates.
As for the format itself, the MoU has the same format as the cooperation agreement in general. Usually, the MoU is opened with the introduction of both parties. Then, it is followed by articles of a cooperation agreement that are manageable to each other. Don't forget to detail the information so that "contract defects" do not occur, which can cause harm.
In general, the MoU of influencers are divided into three types: full endorsements, barter promos, and product endorsements. Have you heard about them?
Full endorsement means that the influencers will ask for products to be promoted through social media and paid according to the agreed rate. Then, bartering promos requires that both parties promote each other to get benefits through exposure. Finally, product endorsements mean business people give influencers free products without paying money.
The following are two examples of MoUs or contract endorsement deals for influencers quoted from mekarisign.com.
Those are some terms and conditions if you want to work with influencers. How? We hope that all of this information can make your business more successful!
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