Just like any fruitful working partnership, influencer collaborations require incentives. What to offer an influencer is just as unique as any other element of influencer marketing. By determining and establishing this element early on, brands can define the right campaign strategy and maximize their budgets for optimal results. As professional content creators, influencers will expect fair compensation for their work. That said, brands will have a marketing budget to respect and will want to ensure a high ROI. That’s why it’s important to get the balance right! When influencers feel valued for their work they’ll be more motivated to deliver their best work, exceed expectations, and renew partnerships – incentivize influencers and you’ll see great things for your long-term relationship and marketing strategy more broadly!
The popularity of influencer marketing has grown and influencer types have proliferated. There are many different categories of influencers, with creators to suit every industry niche! But with so much choice it can be difficult to know where to start; have you found the best match for your campaign and what should you offer as payment are pressing questions.
We have identified 4 key ways that brands can incentivize influencers, including a mix of monetary compensation and exclusive brand benefits like discounts, free products and prize draws. You’ll get insights into the pros and cons of each method to help you make the best choice for your influencer campaign needs.