It’s the age-old question: how much do you pay an influencer? Because influencer pricing depends on a variety of factors, brands have a difficult time figuring out rates for each creator they work with.
But we have some good news — we've added Recommended Payment to our Elevate workflow to help you quickly figure out average pricing metrics for each creator in your campaign.
What is Recommended Payment?
Recommended Payment is a suggested payment amount for a creator, calculated using Aspire’s proprietary pricing algorithm. The algorithm takes into account a variety of factors for each brand-creator relationship — including historical collaboration data and the creator’s unique channel metrics — to determine an average cost per engagement (CPE) for each type of deliverable.
Recommended Payment is expected to be in line with the market value of each creator and makes it easier to execute projects with minimal back-and-forth. We regularly update our recommended payment metrics to stay aligned with the market and to ensure that we are fair to both brands and creators.
Where can you find Recommended Payment?
Starting today, Recommended Payment can be viewed by all Aspire customers in the “Review and Set Offers” step of sending terms to the creator. A project must have the “Send Terms” stage as a workflow step to view Recommended Payments.
This feature is supported for all social channels, with the exception of Snapchat, Twitter, and Pinterest.
How does Recommended Payment benefit you?
While short-term product seeding campaigns are a great way to create initial touchpoints and get your products in the hands of influencers you really want to work with, avoiding influencer payment in the long-term is unethical and can tarnish your brand’s reputation. It’s not uncommon for brands to be publicly called out if they’re not compensating influencers fairly.
Recommended Payment will not only help you to avoid this mishap, but also speed up the negotiation process with each creator. We hope this feature creates win-win outcomes for both brands and creators going forward.