134 | Part 2: Brand Collab Secrets: Negotiating with Brands

Welcome back my friend. Today we are continuing our discussion on brand collab secrets with how to negotiate with brands for your business in order to make it profitable and worth your time. Listen in to find out how you can tap into the marketing budgets of the brands you work with everyday. 

Whether you’re new to the whole working with brands thing or a seasoned pro looking to refine your approach, then this episode is for you. 

Let’s dive into how you can position yourself for success and ensure every brand deal you enter is a win-win.

Step 1: Understanding Your Worth

The first step in any negotiation is recognizing your value. 

It’s not just about your follower count; it’s the engagement, the quality of your content, and the trust you’ve built with your audience that brands are buying into. 

So, how do you quantify this? Start by gathering data on your engagement rates, audience demographics, and examples of successful partnerships. Remember, knowledge is power, especially when it comes to negotiation. You want to come from a place of knowledge.

Step 2: Negotiating 101

Now that you’ve got a brand’s attention, and the correct decision making person, the fun begins. 

The best way to start is to ask questions and get clear about what the brand is looking for in order to make the partnership work. What are their objectives. This is key. Without knowing exactly what a brand is looking for, it’s impossible to know how to meet or exceed their needs. Ask them “what’s the most important metric you are using to gauge the success of this campaign?” 

It may be reach, it may be engagement or it may be that they just need great images or video footage to use for their own purposes. 

Negotiating about finding common ground. Do your best to never be the first one to offer up numbers. Find out what their budget is for the project first and then decide if it works for you and fits into the scope of what they’re wanting you to deliver. If what they offer is too low or they won’t give you a number to work with, offer to put together a few packages for them to choose from. Create a low-end, mid-range, and “the works” package to create something that is a win-win.

And remember, it’s okay to walk away if the deal doesn’t feel right. The best negotiations result in both parties feeling excited and valued. 

Step 3: Getting Paid Deals vs. Free Product

And lastly there’s the topic of paid vs. free. The best way to begin a relationship with a brand that claims they can only offer “product-only” collabs is to set clear boundaries up front. Communicate that while you appreciate product collaborations, you’re focusing on paid collaborations in order to create long-term partnerships. You want to make this a win-win for them so you will do this initial ”try each other out” campaign for product only in exchange for a testimonial to add to your media kit. (This is a great way to get your foot in the door with a brand you’ve never worked with or if you’re brand new)

Develop a clear pricing structure for different types of content and collaborations. Don’t shy away from discussing the ROI for the brand, using metrics from previous campaigns to boost your case. 

And always be professional, from your initial pitch to the final content delivery and follow-up, showing brands that your work is worthy of their financial investment.

As we wrap up today’s episode, remember that valuing your work, negotiating for a win-win, and effectively communicating what you have to offer to brands is the key to success. 

Keep working on your pitch, build up brand testimonials, be strategic, and never underestimate what you bring to the negotiating table.

Next week we are continuing Brand Collab Secrets with the actual creation and delivery of the assets for the brand. How to package your content to create the most value.

Whenever you’re ready:

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Grab a spot on the calendar for us to take a deep dive into your creative business to find the missed opportunities, the areas for potential growth as well as put together a real strategy for you to work smarter not harder. Pick my brain and find out how I do things that are working for my business. Ask me anything.