Earn Money Online, part 6
Brand deals require a steady following and a well-defined niche but can help you take your online earnings to the next level.
However, these are all rather small revenue streams, though they can add up to significant amounts over time. But what if we told you there is a way to make bigger deals that pay off better?
Because there is! Many influencers work in collaboration with brands, promoting their products or services via paid posts. The upside of brand deals is that you can make more money at once. Brand collaborations are also a way to enhance your own brand as an industry thought leader.
Here are 6 things you should know about brand collaborations before launching your first one.
1. It’s not easy to land your first brand deal
Working with brands can be hard work, especially at the beginning. You need to build a big audience because you are basically selling brands visibility in front of your audience. This takes time and consistent content creation. You’ll also need to work to find brands that align with your audience and this can entail a lot of trial and error. But perseverance pays too, so keep going!
Read more: How to attract site visitors?
2. The size is not the only thing that matters
It’s important to have a steady following, but having a lot of site visitors and followers is not the only thing that matters. The brand will also be interested in your social media engagement rate. It tells how many of your followers actually like and comment on your posts. It’s better to have a smallish but engaged audience than a huge audience that never interacts with you.
Read more: How to count your engagement rate?
Also, many brands are more interested in micro-influencers. This means content creators who specialise in a small niche, a very targeted topic, and have an audience which is very interested in this subject. If you reach 10,000 small business owners monthly, a company selling marketing platform for small enterprises will be thrilled to chat with you. They don’t care about influencers that are followed by millions of make-up experts!
3. Start off with free content
Before approaching brands, you should be able to show that you have an engaged audience and quality content. Publish content that resembles the paid posts you would like to create in the future so that you have examples to show to brands.
For example, if you write tech reviews of new mobile apps, then you’ll have a higher chance working with brands launching applications. Write reviews for free to practice and to show potential collaborators the kind of content you’re capable of creating.
Read more: How to create quality content to your site?
4. Let your fees grow progressively
The fees for paid collaborations vary from a few dozen bucks to thousands. It will depend on the size of your audience, the details of the collaboration as well as on the brand in question. Usually influencers start small and their prices evolve over time.
You can even suggest a free collaboration in the beginning to excel your skills and to grow your portfolio. Many influencers also receive products for free as an exchange for visibility.
5. Be clear with what you offer
When you start discussing brand collaborations, be clear with what you can offer and what is included in the deal. A collaboration can be something small like one Instagram pic or an extensive, 3-part series including product testing. It’s all between you and the brand, so make sure you are both clear about what is on the line.
6. Finish with a report
At the end of your collaboration, you’ll want to show the brand what you have achieved. That’s why it’s important to gather data throughout the collaboration. Track the post views, comments, likes, link clicks and any other data you have agreed on with the brand. Present the results at the end of the project – it will help them see the value the collaboration has created for them and make securing your next deal easier.
+ Mix it up!
Brand collaborations are a way to make more money at once than ads or affiliate linking. However, there is no reason why you shouldn’t mix things up and use all the channels to maximize your online revenue.